Strategic Plan-Hertz

Topics: Car rental, Car rental companies, Carsharing Pages: 24 (7312 words) Published: January 28, 2012
Strategic Plan for the Hertz Corporation

February 18, 2011

Table of Contents
Introduction of Team and Assignment4
Company Profile6
Mission Statement6
Vision and Values7
Economic conditions7
Strategic Analysis9
SWOC Analysis: Strengths10
SWOC Analysis: Weaknesses13
SWOC Analysis: Opportunities17
Internal Actions17
SWOC Analysis: Challenges20
Dependence on the United States Automobile Industry20
Technological Changes and Advances20
Competitive Pressures21
Maintaining customer satisfaction and employee morale22
Merger Transitions22
Pressures to Go “Green”22
Expanding the “Global Footprint”23
Market Share Vehicle Rental25
Car Manufacturers25
Debt and Interest payments26
Focus on Green27
Off Airport Rental27
Equipment Business28
Foundations of goals and strategic plan30
Increased Market Share30
Movement toward sustainable inventory30
Improve customer satisfaction by training and technology31
Dedication to Employees31
Drastically decrease debt owed32
Hertz Strategic Plan Implementation33

Introduction of Team and Assignment
In recent years, leaders of American organizations have faced a multitude of challenges. The numerous trends and events that have occurred in the past two decades have affected both American society and business practices. Think of the influences the following events and trends have had on our government, communities, and public agencies: an aging and diversifying population; changes in the nature of families; dramatic shifts in federal and state responsibilities and funding priorities; the emergence of the poor as the largest group of poor Americans; fears about terrorism; the emergence of obesity as an important health concern; and a recent crippling recession (Bryson, 2004). Now think how American society would suffer if our government did not institute policies, programs, and plans in response to these conditions and crises. The same holds true for business organizations around the world. Organizations that want to survive, prosper, do good and important work must respond to the challenges the world presents (Bryson, 2004). In this environment, strategic plans are required to combat current challenges and provide future direction for business practices. Organizations that embark on strategic planning drastically increase their chances to endure current and future crises and are inherently closer to creating a sustainable organization that has public value. Students enrolled in the HR504 Strategic Planning class offered at the University of Scranton, were given the daunting assignment of creating a strategic plan for an organization of their choice. The strategic plan outlined in this paper was developed by the following students; Elisa Cosner, Patricia Dungan, Jacqueline Lombardo, and Mark Trautman (Team 3). These four students represent current and aspiring human resource professionals in pursuit of their Master’s degree in the field of Human Resources. The unique challenge of this assignment was to find a medium that could bring this geographically dispersed group of students together on a regular basis so they could collaborate and execute assignment responsibilities. The chosen medium was a chat forum called Meebo. Students met on Meebo for a minimum of thirty minutes every week, for a period of six weeks, to formulate, direct, and assign task responsibilities for their strategic planning efforts. When it came time to choose an organization for this assignment, Team 3 opted to conduct studies on struggling America business organizations that were experiencing financial difficulties and extreme pressures from both internal and external threats, ultimately choosing an organization that would unequivocally benefit from these strategic planning efforts. After...
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