Assignment
Consider the following scenario:
PPQ Parts has determined that for the company to expand globally over the next several years, its managers must be properly trained in multiculturalism and diversity management. PPQ Parts executives must be aware of any political and economic concerns that may arise during the expansion.
You have held conversations with Precision Part's leaders and obtained the following information, which you want to use in the development of a 4-year strategic management plan.
• PPQ Parts employees now number 5,000, and all are currently employed in the United States. It plans to grow to 10,000 employees in 4 years.
• New facilities will be needed in international expansion, and PPQ Parts anticipates building most of those (80%) outside the United States.
PPQ Parts holds 5% of the world market share on small SUVs, but its goal is 9% in 4 years.
• Current stock price is $10 per share. The goal is $22 a share.
Profit margin 3-year average is 6%. Industry average during this time has also been 6%. The company goal is 13% in 4 years.
• PPQ Parts has averaged 28% employee turnover during the last 3 years. This is compared to an industry average of 25%. The goal of the company is to increase employee retention by lowering annual turnover to 17%.
• PPQ Parts contributes to all the local communities in which it is doing business. This is one of its corporate values. Current charity is 0.5% of total profits, but the company would like to raise that to 5% in 4 years.
Task
A strategic management plan is vital for the company business today. Review the company scenario at the beginning of the course for additional information regarding growth goals. Create a basic strategic management plan for PPQ Parts including quantifiable goals and measures. Include the following in your report:
• Provide environmental scanning of current conditions in the area of expansion including economy, competition, political stability, and so forth.
• Address internal resource analysis such as managerial and financial strengths and weaknesses.
• Include short-term and long-term strategic goals.
• Location consideration for implementation is vital. Please explain the benefits and limitations for expansion in your chosen area.
Be sure to reference all sources using APA style.
Submitting your assignment in APA format means, at a minimum, you will need the following:
• Title page: Remember the running head and title in all capital letters.
• Abstract: This is a summary of your paper, not an introduction. Begin writing in third-person voice.
• Body: The body of your paper begins on the page following the title page and abstract page, and it must be double-spaced between paragraphs. The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics except as required for APA level headings and references. The deliverable length of the body of your paper for this assignment is 3-4 pages. In-text academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
• Reference page: References that align with your in-text academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hang indention, italics, and upper- and lower-case usage as appropriate for the type of resource used. Remember, the reference page is not a bibliography, but it is a further listing of the abbreviated in-text citations used in the paper. Every referenced item must have a corresponding in-text citation.