Essay on Strategic Management Plan- Ppq

1134 Words Feb 24th, 2013 5 Pages
Strategic Planning In order to do a strategic management plan, management must understand what it is that the surrounding environment needs in order for a company to succeed in another country. This is done by environmental scanning. Environmental scanning is as it sounds, scanning the environment for trends, events, and relationships with an organizations external environment (Choo, 2001). By doing environmental scanning, managers can see the trends that are going on in a particular place. It helps the managers to determine what changes need to be made to a business in order to keep the business successful. Trends and events can be tracked by the local newspapers and magazines in the target area. This allows the managers to see what the …show more content…
They must be able to communicate with their staff and customers on a professional level. A manager must also be able to make quick and responsible decisions when it comes to running the business. Making the right decision can mean everything to a company. When manufacturing parts, quality must always be number one on importance. Quality should never be sacrificed. Not understanding these key important factors to running a business would be weaknesses for a company that could be very costly for a company, When starting up a business in a new country, many things must be considered. Where the company is going to be set up helps to determine how expensive it will be to get the business up and running. A higher cost of living will mean that it will also cost more money to run the business. Having proper balance sheets and income statements will help to determine how much money is needed to start up the new location and approximately how long it will take for the new location to turn profits. Without these balance sheets and income statements, a business will not know where they stand financially and will ultimately run their business into the ground (Internal Analysis, n.d.). These income statements will include the cost of goods, payroll costs, production of good costs, and how much it is for the building and electricity and so on. Short term goals for PPQ are to increase their employees from 5,000 to 10,000 within the next 4 years. Another short term

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