PPQ Parts has determined that for the company to expand globally overthe next several years, its managers must be properly trained inmulticulturalism and diversity management. PPQ Parts executives must beaware of any political and economic concerns that may arise during theexpansion. You have held conversations with Precision Part’s leaders andobtained the following information, which you want to use in thedevelopment of a 4-year strategic management plan. PPQ Parts employees now number 5,000, and all are currently employedin the United States. It plans to grow to 10,000 employees in 4 years.New facilities will be needed in international expansion, andPPQ Parts anticipates building most of those (80%) outside the UnitedStates. PPQ Parts holds 5% of the world market share on small SUVs, but its goal is 9% in 4 years.Current stock price is $10 per share. The goal is $22 a share.Profit margin 3-year average is 6%. Industry average during this time has also been 6%. The company goal is 13% in 4 years.PPQ Parts has averaged 28% employee turnover during the last 3years. This is compared to an industry average of 25%. The goal of thecompany is to increase employee retention by lowering annual turnover to17%.PPQ Parts contributes to all the local communities in which itis doing business. This is one of its corporate values. Current charityis 0.5% of total profits, but the company would like to raise that to 5%in 4 years. AssignmentA strategic management plan is vital for the company business today.Review the company scenario at the beginning of the course foradditional information regarding growth goals. Create a basic strategicmanagement plan for PPQ Parts including quantifiable goals andmeasures. Include the following in your report:Provide environmental scanning of current conditions in the area ofexpansion including economy, competition, political stability, and soforth.Address internal resource analysis such as managerial and financial strengths and weaknesses.Please include short-term and long-term strategic goals.Location consideration for implementation is vital. Pleaseexplain the benefits and limitations for expansion in your chosen area.