As the Company under discussion is risk-averse, an action plan should be developed to ensure that it accomplishes all tasks that fall under the main strategy.
Risk should be assessed because the company may lose its business opportunities if it does not evaluate the risk (Loosemore & Raftery, 2006, p. 123).
As soon as the company assesses risk, it can be built a direct hierarchy and establish project governance to ensure that all roles are assigned in the project and the action plan can be accomplished.
The first step that should be taken includes improvement of the site safety in order to enable the employees to accomplish the other stages of the strategy adopted by the board.
Site safety should be measured to ensure that all other stages will be performed without violation of the health and safety legislation acts because legal requirements are important components of the business strategy.
“Emergent strategy is an approach that emphasizes the use of trial, experimentation and learning from experience” (McCabe, 2010, p. 29). This means that a strategy should be based on the review of similar cases and actions performed on those cases by other companies to make sure that the strategy would work.
As suggested in the study by Cannella, Finkelstein, and Hambrick (2008), the satisfaction of employees is an integral part of the corporate culture (p. 124). In this respect, it is necessary to develop employee commitment and leadership skills in order to increase employee satisfaction in the framework of changes taking place in the company.
Remediation and decontamination of the old quarry site are next steps though this stage can follow the search of investors and involvement of qualified employees on the issue of site contamination.
Informing the environmental organisations may be useful, especially if legislation is designed in the way that environmentalists can assist in solving of this problem. Besides, it is possible to provide environment specialists with opportunity to explore the site with regard to potential archaeological interest.
Technological advances should be taken into account. So, it is necessary to involve all possible technologically advances methods to make the site safer, less contaminated, and remediate it to the full extent. Besides, prevention of further contamination should be the issue of primary importance for the company.
Prevention of contamination and analysis of possible complication is the next stage of the action plan aimed at decontamination and remediation of the old quarry site.
Analysis of cooperation on this issue is an integral part of the action plan because other companies may be interested in decontamination and remediation of the site.
Evaluation of the plan in practice is another important stage of the project because effectiveness of use of different technologies and non-violation of legislation are essential for the business.
Finally, assessment of the market changes with regard to the analysis of demand for construction materials is the final stage of the project to ensure that it must not be discontinued.
Reference List
Cannella, B., Finkelstein, S. & Hambrick, D., 2008. Strategic leadership: theory and research on executives, top management teams, and boards. Oxford: Oxford University Press.
Loosemore, M., & Raftery, J., 2006. Risk management in projects. (2nd ed.). Oxford: Taylor & Francis.
McCabe, S., 2010. Corporate strategy in construction: understanding today’s theory and practice. Oxford: John Wiley and Sons.