This is also the incorporation of the previous materials you provided on PCC.
1) Updated and finalize your strategic plan to include the following:
• Executive Summary (2-page maximum).
• PCC's background, organizational mission, vision, and value statements.
• Note. For a start-up, focus on the backgrounds and accomplishments of key anticipated management personnel. The goal is to convince the investor that these individuals are trustworthy and successful.
• Environmental scan.
• Review of strategies and a recommendation for the best strategy for PCC.
• Implementation plan: Include objectives, functional tactics, action items, milestones, tasks, resource allocation, and a deadline.
• Analysis of key success factors for plan implementation, including discussion of cash budget and forecasted financials, including a break-even chart.
• Risk management plan, including contingency plans for identified risks (I used material requirements planning (MRP) as the contingency plan).
• Any change management strategies that would enhance successful implementation.
2) Prepare a Microsoft® PowerPoint® presentation of no more than 10 slides with detailed speaker notes. The focus is to sell the recommendations to the board or venture capital firm and obtain approval for funding your plan.
The response addresses query posted in 5360 words with APA references
A firms competitive advantage is the governing feature of its success. In order to maintain a stable position in the market it is very essential for all the organization to maintain its internal as well as external environment. In this context, Precision Cast parts corp. (PCC) is analyzed by using SWOT and PESTLE analysis to determine its competitive position.
Precision Castparts Corp. also known as PCC is the manufacturer of complex metal products and components worldwide that provides very high quality of forgings, aerostructures, investment castings for power applications, as well as, for critical aerospace. PCC faces a tough competition from several rivals in all the markets it serves yet, it stands out. Competitors produce similar products and components as PCC using either similar type of process of manufacturing or some other form of manufacturing. PCC despite intense competition is one of the suppliers in most of its market due to good customer relations, technical expertise, and dedicated employees.
In the following paper, the background, vision, mission and value statement of PCC are highlighted, where it is noticed that company started from a small Oregon Saw Chain and achieved the high level of top companies. The company has established itself as a brand, and it appeared in the Fortune 500 Company listing in 2008. The next section focuses on the background and accomplishments of key anticipated management personnel. In this section, several key personnel are highlighted who are very trustworthy and influential person in PCC. Further, environmental scanning for PCC have been analyzed using SWOT and PESTLE analysis to determine the competitive position of PCC.
After analyzing the environmental scanning, the paper further explores the current strategic plans that PCC implements such as the utilization of acquisition, global expansion of its market and investment in the research and development. It also identifies the value discipline such as operational excellence, product leadership, and customer loyalty. A generic strategy such as cost leadership, differentiation, and focus strategy that a company should apply in order to gain the competitive advantage and grand strategies expansion, innovation and quality improvement that the company implements. Moreover, the study investigates the implementation plan that includes the objective of the company, functional tactics, action items, milestone, tasks, resource allocation and deadline for smooth running of the business.
After investigating the implementation plan, the paper will analyze the key success factors that are necessary for plan implementation including discussion of cash budget and forecasted financials, including a break-even chart. The paper will further explore the risk management plan including the contingency plans for identifying the potential risks. Lastly, change management strategies will be investigated that will enhance the successful implementation of the change management process.
PCC's background, organizational mission, vision, and value statements
Precision Castparts Corp. (PCC) is situated in Oregon, Portland and deals in metal fabrication and industrial goods. Precision Castparts Corp was founded in 1953 by Joseph B. Cox who in 1949 was the owner of Oregon Saw Chain. Joseph with Ed Cooley (assistant general manager) started a casting operation. Precision Castparts Corp. is highly competitive in all the markets that it serves such as investment casting, airfoil casting, forged components for the use in defense industries, industrial gas turbine, and aerospace industries. The company is one of the world leading producers of complex investment casting, engineered fasteners, and high-performance alloys. In 2014, the total sales of PCC were more than $9000 million (PCC, 2015). PCC if distinguished by pre-eminent leadership by other competitors and serves high degree proprietary technology and technical expertise integrated with its products line. It also leads the market by managing its complex manufacturing processes and paying close attention to the shareholder value creation. Bill McCormick in 1991 became the chief executive officer of the company his vision was to extend the PCC's expertise in markets (PCC, 2015).
Key anticipated management personnel are very important for a company to accomplish the goal of the company, as well as, convince the investors that the people in this company are trustworthy and successful and thus, investing in the firm will prove to be a profitable investment.
Precision Castparts Corp. was established by Joseph B. Cox in 1953, in Portland, Oregon. In 1953, casting division was incorporated as Precision Castparts Corp. and Cox was solely the owner, as well as, the President of the company. This implies that Cox managed the company adequately and helped the company to achieve the brand name that it has today (PCC, 2015). He employed 20 people in his company and managed them and afterward moved to a new service area with Ed Cooley, whom he appointed as the General Manager. Ed Cooley later on served the company as the President and General Manager because of his excellent leadership qualities. He decided to expand the market share and make the casting of greater size and to expand the product line. Both of this personnel helped the company to gain competitive advantage and run successfully in its endeavor.
In the later years, PCC made several acquisitions and entered into several growing markets such as airframe market, and expanded casting operations in steel and aluminum. Today company is running under the leadership of Mark Donegan, who is the Chairman and Chief Executive Officer of the company. Mr. Donegan had a remarkable growth in the company; he had served several management positions before achieving the position of Chairman (PCC, 2015). He joined PCC in 1985 and was elected as President and Chief Operating Officer from 2001 to 2002 and Chief Executive Officer in 2002 to 2003.
Other than these three remarkable personnel, several other personalities have put their effort in making the company a successful one. Don R. Graber is one of these personalities and is currently one of the Board of Directors at PCC; he previously was as the President and Chief Executive Officer at Colleton Enterprises LLC (PCC, 2015). Other Board of Directors includes Daniel J. Murphy, who was Chairman and Chief Executive Officer of Alliant Techsystems Inc., Vernon E. Oechsle, Richard L. Wambold, and Timothy A. Wicks. These people lead the company and under the leadership of these people company is progressing continuously.
The Political Environment of the country, such as federal budget supports Precision Castparts Corp. (PCC) in maintaining smooth supply process of its raw materials and advance equipment. Along with this, the government is quite supportive in nature in promoting the development of the industry.
The Economic Environment of PCC greatly supports the company in achieving its target. The company is headquartered in Portland wherein the overall economy is very sound. The sound economic structure has provided with increased job growth opportunities. Along with this, balanced inflation rate of the country has also supported its growth. The overall financial situation helps the company to look forward for expansions and continuous developments (Schmidt, 2014).
The social environment states that the company must abide by the values, beliefs, norms and culture of the society. The company meets the ever-increasing demands of its customers so that the customer loyalty is maintained on a continuous basis.
The technological environment states that while meeting the demands of the customers and maintaining a persistent position in the market, it is mandatory for the company to adopt all the technological advancements. The company also avoids the use of obsolete products because the company cannot take any risk with the life of its customers.
The laws within the US can be considered quite critical and strict for the industry, as overall legal implications of laws over production, and distribution of remote industry and its related products are quite high. In regard to this strict legal implication can also be proved positive for the company as it leads to create strict entry barriers for new entrant within the industry (PCC, 2012)
The environmental factors are also considered with care because the industry is involved in manufacturing of such products that undertakes the use of certain conflict minerals that might prove dangerous for the environment. The emissions might prove hazardous for the employees working there as well as the industry adopts a sustainable development approach in which pollution should be avoided at the maximum level (Schmidt, 2014).
The most important external environment factor of PCC is the economic factor that helps the company to achieve its success. The company is headquartered in Portland, which can be considered as economic hub for the company. The positive and supportive economic environment can lead the company to avail several benefits such easy availability of finance effective and other resource, which helps the company to have positive and progressive business plans for securing future growth (Wiedemann, 2013).
Internal Competitive Environment Scan
The most important internal strengths of PCC are:
The market performance and offering of diversified product line such as investment cast products, forged products and air-frame products, are the most important strengths of the company (PCC, 2015).
The strategic acquisitions of the company in different markets are also responsible for enhancing its strengths. It has provided the company with increased shareholder value.
Effective and expanded ...
The key success factors for plan implementation are analyzed. The response addresses query posted in 5360 words with APA references.