...Virtual Organization Strategy FIN/370 October 20, 2012 Riordan Manufacturing is a Fortune 1000 company that employs 550 people with projected annual earnings of $46 million dollars. The company was founded by Dr. Riordan in 1991 and subsequently the company name was changed in 1992 to Riordan Manufacturing after Dr. Riordan obtained venture capital to expand the company. The corporate headquarters is located in San Jose, California with additional manufacturing plants in Georgia, Michigan, and China. Products include plastic beverage containers, custom plastic parts, and plastic fan parts. The company is a leader in the industry of plastic injection molding. (Virtual Organization Portal, 2012) Riordan Manufacturing wants to expand operations and they have three options when considering expansion. The three options are going public via IPO, acquiring another organization in the same industry, or merging with another organization. The company must consider the strengths, weaknesses, opportunities, and threats of each option before making a final decision on how to expand. Additionally, considerations on the financial effects of globalization, exchange rate risks, and mitigating the exchange rate risks should be analyzed if the company decides to go international. Strengths Riordan manufacturing is looking for ways to expand their business. They narrowed it down to three options which are going public through an IPO, acquisition of another organization...
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...and Telecommunications Riordan must look at what hardware is needed to be implemented for their new system to be successful. For Riordan Manufacturing to become more efficient upgrading their current systems is a must. Riordan has excellent potential and is geared for growth. Riordan Manufacturing headquarters are located in San Jose, CA, where marketing and sales division are located Riordan networking systems currently has an estimate 40-50 desktop running on Windows OS with office 2000, marketing workstations are connected to a Cisco 5950 switch with 24 ports running through a Ethernet line that connects to Riordan’s network database. Riordan also has a NAS Iomega P800M and Windows network and exchange servers. Riordan Manufacturing upgrades with consist of upgrade workstations and their windows servers. Increasing the speed, storage capacity and installing a new OS to all workstations, as well as upgrading the current window’s databases and network servers from Microsoft. The reasons for this upgrade is, Riordan Manufacturing is planning to transfer large amounts of historical data in the database so the storage capacity and speed is needed to hold this new date and well as maintain the current marketing data. To achieve this Riordan will add Windows SQL. With this expansion it will bring the efficiency needed and with minimal training the transitions to Windows SQL will not be a challenge. Cost Riordan Manufacturing implementation this new system...
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...Ethical Issues Riordan Manufacturing expansion to China. Eva MKT-450 February 6, 2013 Instructor: Charles Riordan Manufacturing Expansion to China Riordan Manufacturing Company focuses in development and licensing of its polymer patents and plastics headquartered in San Jose, CA. One of its top selling products is a plastic beverage container, which is manufactured in one of the company’s plant in Albany, Georgia. Because of the success in the United States, Riordan Manufacturing has decided to expand to Hefei China, which is considered the fastest growing city of China with a promise of financial stability to new companies according to China-Briefing, 2010. China is a good market because of the rapid economy growth and stability seen in the last years where China’s imports consisted of 30 % of them to United States, Hong Kong, Japan and other Asian countries (Amadeo, 2013). Riordan counts with a list of clientele in the United States consisting of department of defense, auto and aircraft parts manufacturers, appliance manufacturers and beverage bottles. Outstanding service and quality defines Riordan, therefore, great concern for up coming ethical issues with the expansion to China has come up. What is described as the performance of business activities relating to product planning, pricing, promoting and place being marketing. In contrast to marketing difference in definition comes in the term international marketing relating to the goal of direction of the flow of...
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...the same guidelines. Riordan Manufacturing is a global plastic company that is owned by Riordan Industries which is a part of the Fortune 1000 enterprise. Riordan Manufacturing is considering marketing its top-selling product to France. The company is faced with three ethical issues that may affect their marketing efforts. Expanding to Europe and specifically France can effect Riordan’s marketing strategy. Riordan Manufacturing has manufacturing plants in Georgia, Michigan, and the most recent expansion is in China. Some ethical issues Riordan Manufacturing can face are China manufacturing and child labor laws, Environmental issues as plastic cause harm to the environment, and finally cultural factors. France is strongly against exploiting children to work. In France it is mandatory for children go to school from the age of six to sixteen. Children cannot be legally employees until after 16. at fourteen during holidays they could apply for light work. It is also prohibited to employ children under the age of eighteen in “preparation, handling,, or sale of written material, posters. Drawings, and other materials whole sale, supply, exhibit, display, or distribution are contrary to public morality and constitute a criminal offense” (Library of Congress, 2012) Moreover, children under the age of eighteen are not allowed to be employed in any dangerous jobs (Library of Congress, 2012). France is adamant on not supporting companies that exploit children; Riordan would have to make...
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...reflection of a strong management team. In order for a company to remain competitive the management team must remain innovative, knowledgeable of the market, and open to new ideas. Expanding operations may be one way that the management team decides to stay ahead of the competition. Expansion may not only create growth, but it may create value, wealth, and fresh ideas for the future. This project is designed to analyze a possible operation expansion for Riordan Manufacturing, an industry leader in the field of plastic injection molding (Riordan Manufacturing, 2006). The researchers of this project will analyze three possible expansion approaches including an initial public offering (IPO), a merger, and an acquisition. It will then be determined which approach would lead the Riordan Manufacturing team ahead of the competition and ultimate greater success for the company. Strengths of Each Approach Riordan Manufacturing has three options to expand its operations, go public through an IPO, acquire another company in the same industry, or merge with another organization. The benefits or strengths of doing each of these are addressed below. If the choice is to go public through an IPO then the benefits to Riordan, according to Inc. (n.d.) are: • “A publicly traded company may tap a broader universe of investors as well as a larger pool of investment capital. • A publicly traded company may receive more public attention. • A publicly traded company may raise more capital...
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...Dr. Riordan was a professor of chemistry who started Riordan Plastic Incorporated in 1991. In the beginning, his company’s main focus was on (R&D) research and development along with licensing. Then in 1992, Dr. Riordan invested in a fan manufacturing facility in Pontiac, MI. and changed the name of the facility to “Riordan Manufacturing, Inc.” Then again in 1993, Dr. Riordan purchased another manufacturing facility, this time it was in Albany, GA. The company expanded into the production line and started making plastic beverage containers. Riordan Manufacturing made its most resent expansion in 2000 by moving there fan making operations from Michigan to China. During this transition time period, all the parts and tools were switched out so that they could accommodate there custom plastic parts company. Currently, Riordan Manufacturing employs over 550 workers based in four different locations and has an annual earning of approximately $46 million. Some of its products manufactured by Riordan Manufacturing include: ▪ Fans ▪ Plastic Bottles ▪ Custom Plastic Parts ▪ Heart Valves ▪ Medical Stints Although Riordan Manufacturing has been successful from the beginning of there operations, there are still improvements that can be made. This review has identified the necessary changes needed in order to help make Riordan Manufacturing a much more efficient operating company. Human Resources Department The Human Resources Department (HR) plays an important roll for Riordan Manufacturing...
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...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 position of influence. It provides a better awareness of needs, facilities-related, and environmentally-related objectives, and helps define the overall mission of the organization with a clear focus on objectives. Strategic planning provides a sense of continuity, direction, and enables effective staffing and leadership, while ensuring involvement and providing standards of accountability...
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...Riordan Manufacturing Strategy FIN/370 University of Phoenix Riordan Manufacturing Strategy Determining the best approach for Riordan Manufacturing is vital to being prepared for expansion and future growth. Examining the potential of Initial Public Offerings, acquisition of another company, and a merger will assist with the decision making process. Initial Public Offering Initial Public offerings (IPOs) occur when a company first introduces their stock to the public. Upon selling the stock the company will receive money, which it can distribute internally. The stocks will then go on to the secondary market where the market price for the stock will be set through the buying and selling of the stock. The only time the company “ever receives money from the sale of one of its securities is when it is sold in the primary market” (Titman, Keown, & Martin, 2011, p. 322). Strengths IPOs carry little risk, which make them attractive to companies as a viable option for raising funds. Companies do not have to pay investors back after they by shares and a company who properly balances their debt and equity ratio can sell more stock with little or no flotation cost. By not having to incur debt as they would with a bank and not having to pay required interest or dividends, which would be the case with preferred stock or bonds, a company could free itself from a real obligation to the investors. Weaknesses When a company decides to go public it can be one of the most difficult...
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...Plan for Riordan Manufacturing October 19, 2009 Riordan Manufacturing is a profitable company generating large amounts of revenue for Riordan Industries. This compliance plan will outline the company’s legal processes and standards to ensure the company will be able to continue to operate and remain profitable in the future. The plan will address the laws that affect the company and provide a guideline for ensuring employees adhere to these laws. Riordan Manufacturing was started in 1991 by Dr. Riordan. He started the company by developing a process for turning polymers into high tensile strength plastic substrates. He patented these processes. In 1992 he purchased a manufacturing plant that made fans and started to get into the manufacturing business instead of just research and development. In 2000 the company started to venture out and expanded into China. This plan will outline an Alternative Dispute Resolution (ADR) for the company to use to keep them on track with their mission. Then discuss enterprise and product liability. Briefly discussed will be issues with international law and how those laws affect the expansion into China. The paper will cover tangible and intellectual property, legal forms of business as well as governess. The paper will also cover enterprise risk management as outlined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). It will conclude by wrapping up with a discussion on laws that Riordan must follow. Riordan Manufacturing...
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...Riordian Manufacturing Accounting Riordan Manufacturing, Inc., the global leader in the field of plastic injection molding. The company produces plastic bottles, fans of all sizes, heart valves, medical stents and custom plastic parts. Riordan Manufacturing is fully owned by Riordan Industries and has 550 employees and generates an excess of $1 billion in revenue with a projected $46 million of annual earnings. Riordan has facilities in San Jose, California, Albany, Georgia, Pontiac, Michigan, and Hangzhou, China. Riordan has demonstrated they can be very successful and contend with their competitors as a Fortune 1000 company. There are a few major economic influences affecting Riordan’s operations and strategy including interest rates, unemployment rate, inflation rate, gross domestic product, consumer confidence and currency exchange rates. History Dr. Riordan started Riordan Manufacturing after purchasing a in 1992 when he obtained the venture capital to purchase a fan manufacturing plant in Pontiac, MI. Riordan’s primary plant for making custom plastic parts is the Michigan plant. In 1993 the company also began to produce plastic containers for beverages out of Albany, GA. The most recent the venture for Riordan is its expansion to China as the main manufacturer of fans. Riordan’s main customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers. Riordan Accounting System ...
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...Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Its products include plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan, and plastic fan parts produced at its facilities in Hangzhou, China. The company's research and development is done at the corporate headquarters in San Jose. Riordan's major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers. History The company was founded by Dr. Riordan, a professor of chemistry, who had obtained several patents relative to processing polymers into high tensile strength plastic substrates. Sensing the commercial applications for his patents, Dr. Riordan started Riordan Plastics, Inc. in 1991. Initially, the company's focus was on research and development and the licensing of its existing patents, but in 1992 Dr. Riordan obtained venture capital which he used to purchase a fan manufacturing plant in Pontiac, MI. At that time, the company's name was changed to "Riordan Manufacturing, Inc." In 1993, the company expanded into the production of plastic beverage containers when it acquired a manufacturing plant in Albany, GA. The company's most recent expansion...
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...Riordan Manufacturing Service Request CIS/319 Computers & Information Processing J. R. McDaniel University of Phoenix Executive Summary During the past twelve months, Riordan’s customer’s relations department has reported negative findings from customer satisfaction surveys and statistics relating to the company’s organizational web page usage. The findings have clearly indicated to Riordan’s management there is a lack of effective and efficient communication on the part of both internal and external organizations and stakeholders who’s expected Return on Investment (ROI) is not being meet. In recognizing this lack of effective communication, Riordan’s management has decided to make significant changes regarding how it will communicate and what type of communication platform the company will use in an effort to sustain customer satisfaction and positive ROI. Following are Riordan’s plans that will provide for more effective communication to take place between both internal and external stakeholders: • Implement an integrated worldwide office automation software and group collaboration software package that is user friendly for both internal and external users. • Implement an integrated worldwide database utilizing Microsoft Access. • Ensure all employees understand the value of the added system. • Collect feedback and respond to feedback. • Ensure security of newly acquired software is appropriate. The integration of the above processes of software...
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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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...Mission Our Focus Six Sigma, leading edge R&D and exceeding ISO 9000 standards define the attitude and abilities of Riordan Manufacturing. We are industry leaders in using polymer materials to provide solutions to our customers challenges. Our R&D is, and will remain, the industry leader in identifying industry trends. Our Customer Relationships We will strive to be a solution provider for our customers and not be a part of our customers challenges. Long-term relationships will be sought by maintaining rigorous quality controls, innovative solutions, a responsive business attitude and reasonable pricing. Our Employees We will maintain an innovative and team oriented working environment. By assuring that our employees are well informed and properly supported, we will provide a climate focused on the long term viability of our company. Our Future We must be focused in achieving and maintaining reasonable profitability to assure that the financial and human capital is available for sustained growth. Riordan Manufacturing Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Its products include plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan, and plastic fan parts...
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...Creativity for Innovative Decision Making OI/361 Ulander U. Franklin March 20, 2014 Professor Walter Kuchinski Riordan manufacturing vs McBride financial services Riordan Manufacturing is a plastics manufacturer, which is a global entity that employs approximately 550 people. It has a yearly earning of approximately $46 million. Riordan Manufacturing is a complete asset of Riordan Industries, it is a Fortune 1000 industry and it has assets of more than one billion dollars. The initial focus of the company was designed to research and develop the initial patents used to create the company. In 1992 the company purchased a fan manufacturing plant which was located in Pontiac, MI. The name of the company was then changed to Riordan Manufacturing. So far I am giving you a brief history, the company was evolving into a global entity as it acquired purchases. The company again expanded as it purchased a plastic manufacturing plant that was located in Albany, Georgia. The head of these acquisitions was Dr. Riordan, his idea of expanding the company to include different products was in fact designing the company for growth. And that is what it did for the next 8 years, in the year two thousand Riordan Manufacturing expanded its reach to China. Riordan took the manufacturing of fan parts and gave that responsibility to the plant in China and then retooled the Michigan plant to manufacture plastic parts. In making these ventures the company utilized creativity...
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