Strategic Plan Development Paper

1672 words - 7 pages

AbstractAll organizations should have a Strategic Plan to ensure their vision and goals can be obtained with as few problems as possible in any business adventure. The organization that Team B, has selected is a new division within The Shaw Group Company, which falls under the Shaw Environmental & Infrastructure (Shaw E&I) Division. This division has many independent business lines that make up the total group and now a new business line has been developed, to allow the company to move into a very different business line. Shaw is entering the Fuel System Division and which is responsible for developing fuel-system restoration and construction projects under a design-build concept. As stated earlier this division will be considered a separate independent organization that will function as an independent organization, but still report to the main corporate office within The Shaw Group.IntroductionThe first of four papers this team will develop, it will begin with a strategic plan listing the basic information of this division. It is the starting point in the overall goal to develop a Total Quality Plan Implementation later in the class. This week's plan will cover the SWOTT (strengths, weaknesses, opportunities, threats, and trends) analysis, a vision and mission statements, a set of guiding principles, establishment of two or three broad objectives, and the steps for executing the strategic plan, and the integration of total quality in the strategic plan. The fuels division is new, developed from the buyouts of two other companies by Shaw. It will work to develop a business line in fuel system upgrades and construction projects. Management's goal is to develop a solid quality program that will produce quality work building on the company's past reputation, so follow-on contract work will come in after the initial projects are completed. The Fuels Division's first big challenge will be to enter the European market that has not developed as expected in past adventures within the Shaw Corporation.SWOTT (strengths, weaknesses, opportunities, threats, and trends) AnalysisAny SWOTT analysis must cover five important areas to ensure that the new product/service is a successful and profitable endeavor. The following SWOTT analysis acts as a screening criterion and helps zero in on a feasible strategy by identifying the firm's strengths, weaknesses, opportunities, threats and trends. This will help determine how successful Shaw will be with this business venture into the European market.Strengths WeaknessesStrong presence around the world Security risksContinued diversity within the company Competitive pricing vs. buyingAcquisition of other competitors' Foreign exchange rate changesFlexibilitySecurity built-inFortune 500 CompanyHighly qualified and diversified workforceEase of adjustment in different environmentsOpportunities ThreatsIncreased market shares Breach of securityNew jobs Stiff competitionIncrease local economies Contract...

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