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Strategic Management Plan - Essay Example

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Strategic Management Plan Name Institution Strategic management plan This is a field under the strategic management, and deals with key emergent and intended initiatives taken by the top management on behalf of the owners. These activities involve utilization of resources to enhance the firm’s performance in their external business environment…
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Strategic Management Plan
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Strategic Management Plan

Download file to see previous pages... In reference to the reports and records from leading economist, they advocate that, any strategic plan should begin with the initiatives from the stakeholders (Mintzberg, 2007, p.37). In precision, strategic management is an activity under a high level of managerial practices whose basis is goals over tactics. This means that the management team must formulate goals which will out do its competitors’ strategies. By so doing, the organization will have the capability of maintaining a sustainable share in the competitive business environment. This is an article discussing the strategic management plan of PPQ Parts. It s location is in United States and it is leading in meeting its customers demand. The company has not set strong root in reference to its international business structure. The article analyzes the firm’s strategic plans for the next 4 years so as to meet the gaps in its structure. Among the company’s, four years strategic plans are:- 1. Increasing the number employees by from 5,000 to 10,000 (the 5,000 employees work in the branches within USA). 2. Increasing of equipment for international expansion will rise by 80% 3. Increasing the company’s world market share from 5% to 9% 4. Increasing the stock price from $10 to $22 5. Increasing annual profit share from 6% to 13% (the firm’s annually average profits is6%) 6. ...
one its corporate value) Other short term goals of the company are reduction in expenditures, high level of security, creativity and innovation, among others. This will act as the subsidiaries of the long term goals (Mintzberg, 2007, p.37). Environmental scanning of current conditions This is an explanation of the ongoing activities in the economy world. It encompasses different items, which in one way or the other may deter the achievement of the goals. These situations may also favor the achievement of the goal. It is the duty of management together with the other stakeholder to ensure that all stabling blocks do not affect the objectives. This will only be met by coordination and communication between different parties in the organization. In reference to the environment, there are many factors affect the process of meeting long term plans. This is because the plans work on the basis assumptions, by putting some of the parameters as constants yet they are not definite. These variables include changes in the economy, prevailing competition, and political stability (Chandler, 2010, p. 45). Economy PPQ is a company in the United; the national has a stable economy, thus favoring the stability of the economy. This is as a result of the government’s measures in protecting the business environment of the country. For the strategic plan to realist, the management of the company should consider the possibilities of changes the value of money. This is because, within the four years, there may be differences like those experienced in the year 2008 (global recessions resulting from changes in the price of oil). The company should be ready to offer terms that increase the rate of stock turnover. Other strategies, which are applicable to these instances, are innovation and ...Download file to see next pagesRead More
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