The board of directors for Riordan Manufacturing has asked your team to create a strategic plan for the organization. Create a 2, to 3,word strategic plan for Riordan Manufacturing starting from what you learned in Week One and using a similar strategic management process as Concepts in Strategic Management and Business Policy. You may also use information from the team project you completed for Riordan Manufacturing in Week Four to create the strategic plan. Cover thoroughly the areas of environmental scanning, strategy formulation, strategy implementation, and evaluation and control.
Riordan shares the competitive advantages of direct selling along with customer, employee, and shareholder commitment with global Internet retailer Amazon.
Riordan provides revenue and profitability growth as they provide products at the lowest cost along with a commitment to the communities Riordan serves. Riordan also shares the advantage of strong brand recognition in their industry just as Nike, Ford Motor Co. Riordan is also known for their strength of quality in engineering on par with the Ford Motor Co.
Strategic Plan Riordan was founded by Dr. Riordan, a professor in chemistry in Apollo Group, Inc.
Over the years Riordan has expanded the business from development, to manufacturing and, to production. Riordan was able to accomplish this expansion by acquiring a manufacturing plant in Pontiac, Michigan, and an additional plant for production in Albany, Georgia.
In Riordan took their operation global and opened a manufacturing plant in China. Riordan has been able to manage three locations successfully to date. However, Riordan recognizes the need to develop a strategic plan to increase profitability by establishing new accounting and marketing systems.
A strategic plan must be realistic and attainable. The strategic plan should include benchmarking and performance monitoring. The plan should stimulate change and become the building block to future plans within Riordan Manufacturing.
The ability to provide timely month end reporting to the board of directors is essential to recognizing potential financial threats and trends in the business. In addition the strategic plan should address the antiquated marketing system.
Riordan has achieved several accolades over the years. However, most of this data is filed away and not easily accessible to the marketing department.
The development of a marketing information system will give research and development the ability to use historical data for tracking units, volumes, and products sold for developing new marketing strategies Apollo Group, Inc.
The Role of Ethical and Social Responsibility Ethical and social responsibility will have an intricate role in Riordan strategic management plan. Ethics involves knowing right from wrong and simply doing the right thing.
Riordan must ensure they are reporting true and accurate financial records to all stakeholders. Today Riordan uses three separate accounting systems to compile financial data. This data is often re-entered by the headquarters office in San Jose. The Sarbanes-Oxley Act of mandated a number of reforms to enhance corporate responsibility, enhance financial disclosures and combat corporate and accounting fraud.
Riordan has a social responsibility to ensure the manufacturing plants are producing quality materials. Riordan must ensure they establish an effective quality control program consisting of design reviews, engineering analysis, adequate recordkeeping of raw materials and finished goods, inspection of incoming materials, testing during the manufacturing process and finished part inspections.
These records should be of sufficient detail to document the steps that were performed in manufacturing the product. Such records should include results of design reviews; supplier information, product testing and inspection; equipment calibrations; and product tracing information AM Trust North America,p.
The records will assist in timely detection of safety hazards and trends within Riordan Manufacturing. The company manufactures its products on two different continents, so it can reach an international market and reduce some costs by manufacturing in a more underdeveloped country, China.
Riordan has several weaknesses.COMPETITIVE ADVANTAGES 4 Resources: Riordan Virtual Organization and Environmental Scan Paper Use the Riordan Virtual Organization and research from last week’s Environmental Scan Paper for this assignment.
Riordan Virtual Organization and Environmental Scan Strategic Management- MGT/ Riordan Virtual Organization and Environmental Scan In today’s workforce, much research is being done to find ways to improve work conditions and in turn, productivity that can yield higher profits.
Resources: Riordan Virtual Organization and Environmental Scan Paper Use the Riordan Virtual Organization and research from last week’s Environmental Scan Paper for this assignment.
· Decide which competitive advantages Riordan has in common with the companies researched last week, and estimate which competitive strategies Riordan could use to improve innovation and sustainability of. MGT week 4 Team Assignment Competitive Advantages Paper For more course tutorials visit pfmlures.com Tutorial Purchased: 3 Times, Rating:A+ Resources: Riordan Virtual Organization and Environmental Scan Paper.
Use the Riordan Virtual Organization and research from last week’s Environmental Scan Paper for this assignment. Riordan Virtual Organization and Environmental Scan Strategic Management- MGT/ Riordan Virtual Organization and Environmental Scan In today’s workforce, much research is being done to find ways to improve work conditions and in turn, productivity that can yield higher profits.
Riordan Virtual Organization and Environmental Scan Paper MGT Week 5 - Learning Team Paper - Riordan Strategic Plan pfmlures.com MGT Week 4 Learning Team Assignment Competitive Advantages Paper / MGT Week 4 Learning Team Assignment Learning Team Reflection /Week 4 .