PRECISION PARTS STRATEGIC MANAGEMENT PLAN

Abstract
This is a single paragraph, no indentation is required. The next page will be an abstract; “a brief, comprehensive summary of the contents of the article; it allows the readers to survey the contents of an article quickly” (Publication Manual, 2010). The length of this abstract should be 45-60 words (2-4 sentences). NOTE: the abstract must be on page 2 and the body of the paper will begin on page 3.

Precision Parts (PPQ Parts) Strategic Management Plan Research Paper DETAILS

ASSIGNMENT OBJECTIVES:
• Construct control charts to monitor processes
• Appropriately use methods for operations scheduling and project management

ASSIGNMENT -CONSIDER THE FOLLOWING SCENARIO:

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.

• There are now 5,000 PPQ Parts employees 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.

ASSIGNMENT DETAILS: 5 pages / 6 APA References

A strategic management plan is vital for the company business today. Review the company scenario provided above 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.
• Please 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.

Precision Parts Strategic Management Plan Research Paper TEMPLATE
Introduction
Summarize strategic management plans and why they are useful and successful. Explain the benefits of the strategic management plans. Introduce and summarize methods for operations scheduling and project management. Explain company employee retention and annual turnover. This research paper should be a description of a strategic management plan you are proposing. (At least 1-2 detailed paragraphs)
Environmental Scanning of Current Conditions
Provide environmental scanning of current conditions in the area of expansion including economy, competition and political stability. Explain each in detail and explain how this is done. Be descriptive and be detailed. (At least 1-2 detailed paragraphs)