Vinyl records are making a comeback! The case study refers to Independent Record Pressing, a New Jersey-based vinyl pressing company that began producing vinyl records in 2015. Most pressing equipment

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Vinyl records are making a comeback! The case study refers to Independent Record Pressing, a New Jersey-based vinyl pressing company that began producing vinyl records in 2015. Most pressing equipment is decades old. IRP’s equipment is old, yet market demand for vinyl records is surging. The future of vinyl is uncertain. Is vinyl’s contemporary popularity a fad, or can IRP safely risk major new investments?

You were recently hired as the new General Manager charged with developing a strategic plan for Independent Record Pressing (IRP) using the following questions as an outline.  Write a strategic plan for IRP using the guidelines below.

Strategic plan should include the following essential topics:

  • Executive overview.
  • Describe the challenge the strategy aims to overcome.
  • Develop a Vision and Mission statement for IRP. 
  • Develop a SWOT analysis. 
  • Using the sources at the end of the case study plus any helpful outside resources, develop an external environment analysis using the PESTEL model. 
  • Develop an internal analysis using Porter’s Five Forces.
  • Pick a “Grand Strategy” and make a convincing argument for how your plan will add value for both the customers and the organization. 
  • Explain how the strategy will add value to shareholders who are interested in profitability, earnings per share, and future growth. You do not need to produce financial statements. You only need to explain qualitatively how shareholder goals will be realized.
  • Content and flow: In your submission, be sure that the:
    • Structure is evident, understandable, and appropriate.
    • Main and supporting points are easily identifiable, plausible, and clear.
    • Paper employs a minimum of four reputable sources to support main points.
    • Logic is identifiable, reasonable, and sound.
    • Paper includes at least two charts, graphs, or visual aids to support your points.
    • Transitions from point to point are excellent and paragraphs support solid topic sentences.
  • Number of pages: 6 pages, excluding the title page and reference list.
  • Style and formatting: APA style to cite and reference your sources.