Strategic Management Plan
Strategic management is an essential task for a company as massive as PPQ Parts Company. PPQ Parts is a manufacturing company based in US which deals with production of agricultural products for safeguarding animals from the spread of diseases and plants from pests and weeds. The company plays a vital role in strengthening the U.S agricultural marketability domestically and internationally. As a result, it contributes to the preservation and conservation of the global environment. The company needs spread its business activities in order to create a compelling image for its products and improve its performance. Following this the company requires to come up with a strategic management plan for helping it reach its goal.
The plan forms abroad analysis by the PPQ’s management team with an aim of changing emerging trends and patterns in the agricultural industry in U.S also an extension internationally. The strategic plans to target the expansion of the number of its employees from the current 5000 to 10,000, improvement of the company’s corporate values by raising the charity level of the total profit, increasing its average profit margin, enhancing its market share and raising its stock price in the coming four years. Plans to make the expansion of its operations outside U.S call the management of the company to address issues by the host country. The factors affecting the country’s economic and political stability (Negandh & Savara, 1989).
In, addition, the plan should take care of the country’s rate of utilization and absorption of technologies both external and internal factors. Internal factors include infrastructure, growth rate, the level of development, human and physical resources that the host country must provide. External factors to be put in consideration by the company are the marketability of the products and accessibility. Strategic planning is a process of coming up with goals and objectives of a firm within a given period. PPQ management remains efficient in its managerial functions following the outstanding performances which it has shown over the years. The company operates in a profit hence making it to be financially stable with a profit margin average of 6%. The big challenge with its finances is due to changes in economic conditions leading to the company’s fall in profits. Consequently the strategic plan geared to do away with these inconveniences facing the company's operations.
The company needs to develop strategic goals in its strategic management planning which will act as guidelines for the company to achieve its plans of expanding its operations internationally (Pearce & Robinson, 2003). Each goal need to have guidelines on how the goal attained. Also, outline the events that need to occur to ensure efficiency.
Short-term strategic goals
I. Expand PPQ’s new facilities outside...