Management Plan
Essay by tesavalens1981 • March 11, 2012 • 576 Words (3 Pages) • 1,548 Views
Abstract
In this paper a four year strategic management plan will be developed. Environmental scanning of current conditions in the area of expansion including economy, competition, political stability, and other necessary things will be included. The internal resource analysis such as managerial and financial strengths and weaknesses will be explained. Short-term and long-term strategic goals will be developed as well. Location consideration for implementation is vital, so the benefits and limitations for expansion in the new area will be explained.
Management Plan
When a company is ready to make some changes a strategic management plan is necessary if the company wants to stay on track and reach their goal. The five main things that are going to be implemented in this plan is how the company is going to double their employees in the time period of four years, expand with 80% of new facilities that are outside of the United States, a raise in their current stock market value by $12 per share, lower their employee turnover rate by 11%, and to make a 4.5% raise in their charitable contributions. All of these goals can be achieved or at least come very close to if the plan that will be laid out is followed.
Before any decisions are to be made the company must the company must determine where they are in the present time. The company must realize their strengths, weaknesses, opportunities, and threats. Every company has these and can review them in order to come out on top. Looking at the current environment they are in, along with the customers they are serving, the industry they are entwined to, as well as their competitors must also be analyzed (Hiezer and Render, 2012 pg 39). After this is completed the company must determine why they are a company. They must know why they are doing business and create a value that it wishes to carry out for their name as a company. When those are done then the company can start making a plan that is going to help them get ahead in the game.
Managers needs to all be on the same page. Communication
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