Research On Development Strategy Of SD Foundry Plant

The foundry industry serves as the base for the manufacturing sector,and modern casting lays the foundation for the innovative development of automobile,petrochemical,steel,electric power,shipbuilding,textile,equipment manufacturing and other industries.The long-term COVID-19 pandemic,changing diplomatic relations and worrying economic circumstances both at home and abroad have generated high market pressure for casting enterprises.Meanwhile,the foundry enterprises are confronted with increasing pressure regarding environmental protection and governance due to the ongoing development of a low-carbon economy and the orderly promotion of peak carbon emissions and carbon neutrality.China’s aging has further deepened,and the employment dividend of enterprises has gradually faded.China’s foundry enterprises are mostly founded in small scale,private organisations with limited development resources,inferior technology and extensive development model,a weak drive toward innovation and low product added value.SD Foundry Plant is a typical export-oriented foundry enterprise with a primary business producing iron castings.Similar to many other foundry enterprises,the SD Foundry Plant faces the above difficulties and challenges in development;hence,it is urgent to conduct indepth research regarding its development strategy and propose practical,evidence-based solutions.Focusing on the development strategy of SD Foundry Plant,this paper uses literature research,field investigation,qualitative analysis and other research methods to conduct the following research: First,the study arranges,analyses and summarises the relevant theories and documents and determines the appropriate content and process for strategic management.Next,by adopting the PEST model to examine political,economic,socio-cultural and technological impacts,Porter’s Five Forces Model and other analytical tools,this paper analyses the enterprises’ external and internal environments from the perspective of resources and capabilities,determining strengths,weaknesses,opportunities and threats(SWOT analysis).Furthermore,using a combined analytical hierarchy process SWOT analysis model,this paper determines the appropriate direction for the enterprises’ development strategy,concluding that a reverse(WO)strategy is most suitable for enterprise development,and the reasonable direction of the enterprise’s future development is determined.This study then determines overall development strategies based on reverse(WO)strategy,the corporate vision,the principles and objectives of strategy formulation,the opportunities and threats facing the enterprise’s development and existing advantages and disadvantages.These strategies include cultivating the finished iron products business,expanding diversified auxiliary businesses and enlarging the domestic iron art market.This study further clarifies the basic competitive approaches for targeted concentration and differentiation,designing practical strategies for the department,including marketing,production and operation schemes and human resource strategy.Finally,to further formulate and refine the enterprise development strategy,from the perspectives of organizational structure,financial resources,strategic leadership,corporate culture,safety production,etc.,the paper puts forward the safeguard measures for the implementation of the development strategy,which provides support and guarantee for the smooth implementation of the development strategy and the successful realization of the strategic objectives.