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Strategic Plan: KS
Sherman Construction & Engineering Co., Inc. (KS) is currently a small fish in a market dominated by several large and numerous medium-sized construction companies. During the past year, KS has felt the crunch of stiff competition and a declining market. While weak growth for the residential construction market is anticipated to continue for the next five years, high growth is expected in the commercial construction market. Even more exciting, preliminary forecasts show huge growth potential in an emerging market: green building. However, in order to gain access to the forecasted growth in these markets, KS will have to overcome challenges associated with high entry barriers, seasonal revenues and the attainment of skilled labor. Looking to the future, KS has the ability to overcome these challenges and attain its vision of becoming a leading full-service construction company in the Sacramento area. To facilitate the attainment of this vision, KS has used concentric diversification and turnaround grand strategies to implement several long-term objectives and corresponding strategic initiatives that focus on the attainment of an increased market share, decreased employee turnover, increased brand recall, improved customer satisfaction, and increased job size.
KS can and will overcome the challenges and take advantage of identified opportunities through committing 100% to the strategic actions identified throughout this plan. With a mere investment of $195,000.00 spread out over three years, KS can expect gross revenues totaling $4,430,000.00 during that same period. Furthermore, more revenues are expected to remain in the company’s cash reserve as a future profit margin of 37.2% is expected as a result of the strategic plan initiatives. Finally, KS can anticipate continued company expansion and departmentalization during the next three years with the addition of full-time staff members in strategic planning, marketing, and...
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