...Strategic Plan: Riordan Manufacturing MGT/498 October 2013 Riordan Manufacturing Strategic Plan Why is strategic management necessary? Strategic management, and business policies are essential for organizations to gain competitive advantage within their respective markets. Organizations like Riordan Manufacturing implement policies, and procedures to provide structure, and standardize operations in efforts to maintain proper control of production, inventory, and logistics. Developing a strategic plan focuses on the need for planning, roles of ethical and social responsibility, current competitive advantages, innovation, sustainability, internal dynamics, influence of business continuity, and assessment, and feedback. The following discussion details a strategic plan for Riordan Manufacturing. Topics include areas of environmental scanning, strategy formulation, strategy implementation, evaluation, and control. Riordan Manufacturing Effective Strategy Guidelines Riordan Manufacturing is focused on what really matters, the bottom-line performance and long-term healthy survival of its organization. Now that Riordan Manufacturing has implemented an effective competitive strategy it must evaluate and measure its performance. Measuring its performance is critical to the success of Riordan Manufacturing. By implementing an effective measurement guideline, it would help Riordan Manufacturing in tracking the progress against its goals and objectives; identify areas of improvement;...
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...Strategic Plan: Riordan Kevin Music, John Beard, Paul Brown, Elza Milivic MGT/498 November 11th, 2013 John Hawes University of Phoenix Strategic Plan: Riordan A strategic plan is an important part of every company that helps to keep each department focused and to ensure long-term success. Ethics and social responsibility play large roles in strategic planning because these concepts are part of the foundation for the strategy and the strategy has a long-term effect on the company as well as any communities that are under the effect of these decisions. The competitive advantages Riordan possesses and careful analyzing of strategy options are important issues that must be near the forefront of the decision making process. The effect each strategy may have on innovation and sustainability in domestic and international domains will vary greatly, which means this effect will be extremely important when making this decision. Measurement guidelines are another area that will vary greatly between every situation, which can lead to difficulty in displaying the strategy’s effectiveness. Riordan has to tailor the measurement guidelines to the chosen strategy to ensure accurate measurement of effectiveness. Internal dynamics, cultural leadership, and structural leadership are important parts of the company and certain parts of the concepts will be useful in implementing the business strategy. The way these concepts influence business continuity is also under scrutiny...
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...Introduction In the competitive world of manufacturing, supply and demand, one company is standing out and making its presence known, Riordan Manufacturing Incorporated. This company is at a key point on whether to continue to expand further in the global market or continue current operations in the status quo and risk being out competed by rival companies. The following is an explanation will show that the company is in need to expand to further markets but why it has the management strategy and tools to expand. Common Competitive Advantages Riordan Manufacturing Company is the most popular plastics manufacturer not only in the United States but in the global market. The company strives to be the best company in the world. The company is owned by Riordan industries, a fortune 100 enterprise that focuses on proving solutions to their customer’s challenges. Riordan manufacturing company operates similar to companies like McDonald’s, the leader of the fast food chain and other leading companies because they all focus on change. They will strive to be a solution provider for their customers and not be part of the problem. The competitive strategies are they focus on the long term relationships with its customers to ensure them quality products, innovative solutions, and for the products to be sold at reasonable pricing. Riordan Manufacturing will have to continue to focus on its customers and their needs, come up with different strategies to focus on the competitive industry, and...
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...Riordan’s Manufacturing Strategy According to "PWC" (2008), “today, business strategy and talent management are linked as an integrated talent management framework combining organization, business process and technology. Riordan’s Manufacturing manages their human capital and talent as strategic assets. They achieved by aligning the workforce with business objectives and by use performance metrics to drive decisions, monitor and improve results. This strategy shows how Riordan Manufacturing can successfully align their talent management strategy with technology to effectively manage their workforce needs in order to be a marketplace leader of the future” (Creating an agile workforce). Riordan’s Manufacturing has adapted the mixed manufacturing strategy which combines the Stable Workforce—variable work hours and the Level strategy that is most widely applied in many industries. The mix strategy is a planning strategy that uses two or more controllable variables to set a feasible production plan. With two strategies combined Riordan Manufacturing can take advantage of a well-trained workforce because the production rates never changes, lower turnover, lower absenteeism and more experienced workers (Jacobs & Chase, 2011). The Michael (n.d.) website manufacturing performance efficiency is the level to which quality of a product is exercised. This performance efficiency should be exercised in all manufacturing processes in order for a Riordan Manufacturing to avoid wasting of...
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...Riordan’s Strategic Plan Riordan Manufacturing is a Fortune 1000 company that that leads the world in the manufacturing of plastics and plastic injection molding. With more then a billion dollars in revenue, Riordan has decided to shore up their global business by developing a strategic plan that will take the company into the next five years. With global and domestic operations based in Michigan, California, Georgia, and China, Riordan has reviewed their business structure and revealed areas, which require the optimization of operational efficiency throughout company. Along with other companies, Riordan manufacturing shares competitive advantages in several avenues of manufacturing and business. Riordan’s focus on direct selling gives them a competitive advantage, as does their commitment to their employees, customers, and shareholders. Riordan’s commitment to the community is to provide low cost products, while at the same time sustain revenue and profitability growth. Riordan’s strong brand recognition in their industry gives them an advantage just as Apple, DuPont, GMC, and Nike have in their markets. Riordan’s strong engineering and R&D departments are known for their quality. Strategic Plan Over the years Riordan has expanded business operations from development, to large-scale manufacturing and finally to producing state of the art plastic injectors. Riordan expanded their operation when they acquired a manufacturing plant in Pontiac, Michigan, and...
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...and Riordan Manufacturing. An analysis will be performed to expose which competitive advantages Riordan has in common with Costco. An estimate on which competitive strategies Riordan would use to improve innovation and sustainability of business operations domestically and internationally will be given. An explanation will also be presented to describe how the competitive strategies chosen may affect the sustainability of long-term performance and how the global market would affect the business strategy of Riordan. * Like Costco, Riordan manufacturing generates greater sales and margin to optimize their investment. Riordan’s sales and product strategy has been proven effective through their pricing and product selection, which sustains their strategic goals and objectives. To retain their customers, they increase their sales through employee satisfaction. The exceptional customer service is implemented in order to satisfy their financial performance as part of their objective. This puts Riordan in the lead to achieve their goals and secure some of the largest accounts to increase their market. The value and the effectiveness of Riordan manufacturing is truly as effective using the SWOT analysis. They also exemplify ways to generate planned revenues with the delivery of their product, which in turn strengthens their competitive advantage. The structure of their plan is based on financial goals, action plans and objectives with reviews of their performance. Riordan is a...
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... Date Competitive Advantage Paper Riordan Manufacturing Incorporated engages in plastic injection molding with operations both in the United States and China. As an industry leader, Riordan is in the process of identifying strategic factors in the internal and external environment. The goal is to develop long-range plans to manage resources as well as the opportunities and threats present in the environment. Emerging markets of Asia, some in South America, and in Europe expects to bring in demand for more products. These markets deeply affected by lifestyle changes ushered in by the new age of multimedia, economic growth, industrialization, and growth of personal income will power the expected growth for plastics and other consumer products. Competitive Advantages and Strategies Riordan is a company with business across the globe. Similar to companies like McDonald’s and The Gap, Riordan receives a great deal of pressure to maintain technological perks to the customer, treat the employees well, and support efforts to enforce the protection of the environment. As a global company, special interest groups sometimes have a louder voice than the public; these groups will request, almost demand, the support of the business within the community. For Riordan to remain competitive the company has been very supportive of special interest groups to include improved processes resulting in improved manufacturing processes that reduce their footprint left on the...
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...global market. In this paper, team B will discuss the advantages of Riordan Manufacturing and how there related to other organizations in the market, such as Starbucks, and Apple Inc. In addition to determining the competitive strategies of Riordan, they must improve innovation and sustainability in their business operations of both the United States and global market. Furthermore, Riordan has to establish particular strategies and determine the numerous ways in which they will accomplish sustainability of long-term organizational performance. Competitive Advantages The company Riordan has the competitive advantage of product differentiation because their producing computer fans, heart valve stems, and injected molded products, such as water bottles, etc. Their competitive advantage caters to any retail household store, office buildings, and even medical centers. Furthermore, Riordan has several locations, which can be used to implement production efficiencies, which lower costs. To identify opportunities, the organization holds a comprehension market study to gain knowledge and establish directional tactics. One thing Riordan did not mention was that none of the locations had Material Safety Data Sheets, which would include the hazards of handling certain chemicals and how to clean up chemicals if ever spilled or contacted to the eyes or skin. There are lawsuits waiting to happen. In relation to Starbucks, Riordan does what it takes to be the best company in the industry and part...
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...Riordan Manufacturing Strategic Plan Riordan Manufacturing Strategic Plan This paper was structured by Team A and based on the strategic plan of Riordan Manufacturing. Team A completed an environmental scan, strategy formulation, strategy implementation and also completed evaluation and controls. There is a significant amount of information that is discovered through this process which will benefit Riordan Manufacturing and their business operations. In result, Riordan Manufacturing is able to benefit from this process because they use it as an edge in the industry and gain a lead on the competition. Environmental Scan The internal environmental scan for Riordan Manufacturing is included in the SWOT analysis; a group which determines the weaknesses and strengths. A strength for Riordan would be their solidified brand name which helps them keep a strong reputation among their clientele. Furthermore, Riordan benefits from having access to high-end natural resources. In regards to downfalls, Riordan suffers from their high cost of structure and the lack of access to ideal key distributions. In addition, the external environmental scan of the SWOT analysis is comprised of opportunities and threats. Riordan has some potential in removing internal trade barriers and the introduction of the latest technology. Riordan’s threat is the increment of those trade barriers and the introduction of substituted products. Competitive Advantages The manufacturing...
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...Organizations of all sizes face the challenging task of an enthused and inspiring, rewarding atmosphere for their employees. Business must put in place a business strategy and technology that will help drive the workforce and help move the business with work practices. These strategies will help drive the behavior of the workforce. (Greenberg, 2013,2010, 2005) Organizations must constantly strive to maintain a competitive advantage within the marketplace; the development of a strategic plan is essential to the success or that endeavor, as it helps to deliver the best possible results for both business decisions and practices and determines the long-run performance of a corporation. Strategic management is designed to focus management’s attention on internal, external, and overall policy implementation of their management systems and includes four phases; financial planning, forecast based planning, externally oriented strategic planning, and strategic management (Greenberg, 2013,2010, 2005). It is a step by step process that clarifies organizational objectives and anticipated end results with a method of evaluation, providing a picture of the future based on current trends and forces that might influence the organization (Ahoy, 1998). There are five compelling reasons for Riordan Manufacturing to develop a strategic plan besides that of taking charge of the organization’s future. First, strategic planning forces management to look into the future and develop a proactive...
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...Costco and Riordan Manufacturing. An analysis will be performed to expose which competitive advantages Riordan has in common with Costco. An estimate on which competitive strategies Riordan would use to improve innovation and sustainability of business operations domestically and internationally will be given. An explanation will also be presented to describe how the competitive strategies chosen may affect the sustainability of long-term performance and how the global market would affect the business strategy of Riordan. Like Costco, Riordan manufacturing generates greater sales and margin to optimize their investment. Riordan’s sales and product strategy has been proven effective through their pricing and product selection, which sustains their strategic goals and objectives. To retain their customers, they increase their sales through employee satisfaction. The exceptional customer service is implemented in order to satisfy their financial performance as part of their objective. This puts Riordan in the lead to achieve their goals and secure some of the largest accounts to increase their market. The value and the effectiveness of Riordan manufacturing is truly as effective using the SWOT analysis. They also exemplify ways to generate planned revenues with the delivery of their product, which in turn strengthens their competitive advantage. The structure of their plan is based on financial goals, action plans and objectives with reviews of their performance. Riordan is a plastic...
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...Gap Analysis: Riordan Manufacturing Riordan Manufacturing is faced with some issues, challenges and opportunities to increase their sales and profitability, improve employee satisfaction, and improve their customer relationships in an effort to help them remain competitive in the marketplace. In this research an analysis will be conducted to evaluate the situations that face Riordan Manufacturing. This analysis will identify the issues and opportunities, explore the stakeholders’ perspectives, and review the problem and the end state goals. Once the analysis is complete the leadership team at Riordan Manufacturing will be able to put together a problem solution to begin to tackle the issues faced by the company. Situation Analysis Issue and Opportunity Identification “Riordan Manufacturing is a global plastics producer employing 550 people with a projected annual earnings of 46 $million” (University of Phoenix. n.d., p 1). The company is owned by Riordan Industries a Fortune 1000 enterprise with revenues over $1 billion (University of Phoenix. n.d., p 1). Over the past two years Riordan Manufacturing has experienced declining sales and uneven profits (University of Phoenix. n.d.). This change forced Riordan Manufacturing to make some strategic changes in the way they manufacture and market products and its sales processes. The strategic changes prompted Riordan Manufacturing to adopt a customer-relationship management system (CRM) which allowed customers to be serviced...
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...Riordan Manufacturing Strategic Plan Why is strategic management necessary? Strategic management, and business policies are essential for organizations to gain competitive advantage within their respective markets. Organizations like Riordan Manufacturing implement policies, and procedures to provide structure, and standardize operations in efforts to maintain proper control of production, inventory, and logistics. Developing a strategic plan focuses on the need for planning, roles of ethical and social responsibility, current competitive advantages, innovation, sustainability, internal dynamics, influence of business continuity, and assessment, and feedback. The following discussion details a strategic plan for Riordan Manufacturing. Topics include areas of environmental scanning, strategy formulation, strategy implementation, evaluation, and control. Riordan Manufacturing Effective Strategy Guidelines Riordan Manufacturing is focused on what really matters, the bottom-line performance and long-term healthy survival of its organization. Now that Riordan Manufacturing has implemented an effective competitive strategy it must evaluate and measure its performance. Measuring its performance is critical to the success of Riordan Manufacturing. By implementing an effective measurement guideline, it would help Riordan Manufacturing in tracking the progress against its goals and objectives; identify areas of improvement; and ultimately compare performance against both its defined...
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...it is important for Riordan Manufacturing to have a strategic plan so the company will be successful long term. Also within this paper, Learning Team D will discuss on how important ethical and social responsibility considerations are important in the company strategic management plan. In addition, the team will talk about how Riordan competitive strategies help improve sustainability and innovation domestically and internationally. Furthermore, in the discussion is on how Riordan Manufacturing uses measurement guideline to see how effective their strategies are used. When implementing a business strategy Riordan takes into considerations of cultural and structural leadership. Learning Team D will talk about how Riordan Manufacturing may or may not influence business continuity. The last thing will be discussed by “Team D” is if Riordan Manufacturer receives a feedback it will determine which direction they may want to go, and if they do not follow recommendations at what time is good to alter the plan. The final discussion is to consider as a team on how did we decide or justify the strategic plan based on what we have learned as a team. There are components that has helped us adjust to deciding what plan best fits Riordan Manufacturing so they can be a successful company. Why Should Riordan Manufacturing have a Strategic Plan Riordan Manufacturing needs a strategic plan to assist them to reach short-term and long-term goals. In Riordan case, it is targeting...
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...Introduction Riordan Manufacturing is a global plastics manufacturer of beverage containers, parts, and fan parts. The organization provides products for automotive parts manufacturers, aircraft manufacturers, the Department of Defense, and appliance manufacturers. The company was initially founded as Riordan Plastics, Inc. in 1991. Riordan’s focus was on research and development and licensing of its existing patents. The organization purchased a fan manufacturing plant in 1992. Currently, the company operates a plastic beverage containers’ plant in Georgia, and the plastic fan parts are produced in China. Riordan maintains revenue of $1 billion. The team will focus on all manufacturing aspects of the electric fans in China. The team will also discuss Riordan’s strategies, process flow, supply chain efficiency, lean production, etc. Manufacturing Strategy Riordan uses the level manufacturing strategy for production planning. This strategy is evidence that Riordan continuously manufactures its goods equal to the average demand for the goods. The scheduling is set for the same quantity as the production based on the total demand for the goods. The benefits of using the level strategy are “to maintain a stable workforce working at a constant output rate. Shortages and surpluses are absorbed by fluctuating inventory levels, order backlogs, and lost sales. Employees benefit from stable work hours” (Jacob & Chase, 2011). The organization also uses the strategy because production...
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