Strategic Plan
Riordan Manufacturing is a mid-size American company that was founded in 1991, employs 550 people and has projected annual earnings of $46 million. Riordan has three manufacturing locations, two in the United States and one in China. Riordan understands the importance of strategic planning and will lay out their reasoning in this paper. Competitive advantages, sustainability, innovation and ethical and social responsibilities will be addressed, as well as cultural and structural leadership and assessment and feedback controls.
Riordan Manufacturing, Inc. needs strategic plans because Riordan Manufacturing, Inc. is like any other business organization; divided into two governing sections of business operations a management
…show more content…
Companies that follow these guidelines can charge higher prices, which helps to offset the costs incurred. They also increase customer loyalty and cultivate an image as a responsible company. Employees are happier and more motivated to work at companies that address these growing concerns. Financially, they have a much better chance of attracting capital investments. Finally, environmental and community groups are more likely to support companies that address issues like these.
Riordan Manufacturing, Inc. states on their webpage “Six Sigma, leading edge R&D and exceeding ISO 9000 standards define the attitude and abilities of Riordan Manufacturing” (Riordan Manufacturing Inc., n.d., p. 2). Riordan Manufacturing, Inc. has most likely decided to use the cost leadership and product innovation business strategies because these strategies allow Riordan Manufacturing, Inc. to compete with their competitors on two levels. Currently Riordan Manufacturing, Inc. is operating in Hangzhou China and is partnered with Chinese affiliates that own manufacturing facilities on the Qiantang River. The cost reduction in shipping and manufacturing permits the cost leadership business strategy; underpricing competitors in foreign and domestic markets. This brands the organization as the market maker for pricing in plastics manufacturing. Riordan Manufacturing, Inc. also states on their webpage “Our R&D is, and
The main reason any company would object to maintain customer intimacy and social responsibility is the associated costs. With social responsibility, a company pays for environmental programs, more employee training and efficient waste management programs. Proponents of social responsibility agree that any expenses to businesses are ultimately covered by stronger relationships with key stakeholders. However, some argue that investment in social responsibility programs may not necessary result in measurable financial results.
Firms have responsibilities to society at large by not harming the environment (polluting the air or water); producing safe products and providing a safe work environment for it’s employees and the surrounding residents.
Riordan Manufacturing is a global plastics manufacturer with facilities located in: Albany Georgia, Pontiac Michigan, Hangzhou China, with a research and development department located in San Jose California. This establishment has produced an annual earning of forty-six million dollars. Riordan Industries, which is the sole owner of Riordan Manufacturing, is a Fortune 1000 enterprise with revenues in excess of one-billion dollars.
In order to create a successful business plan, we first conducted a needs analysis and put together a list of recommendations that could be used to help the company. Riordan Manufacturing would like to reduce costs and materials across all plants. The introduction phase involves the evaluation of the current
Riordan Manufacturing has grown from a small plastics research and development firm to a multinational plastics manufacturing power in the brief span of 14 years. This growth has seen Riordan expand their operation to multiple manufacturing and distribution points across North America and China. Riordan now services over 32 customers of varying size, including automotive parts manufacturers, aircraft manufacturers, the Department of Defense, appliance manufacturers, and beverage bottlers. This rapid growth, enabled through a series of acquisitions, an excellent product line, and aggressive sales, has enabled Riordan to increase market share while maintaining excellent customer relations and competitive pricing. However, this growth has
The objective is to complete a written plan that will suggest a practical Strategic Direction for a company.
Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. Riordan’s main customers range from automotive parts manufacturers to the Department of Defense. One of Riordan’s main productions is plastic beverage containers. Riordan’s most recent expansion took place in 2000 when the company relocated operations from Pontiac Michigan to China. The Pontiac Michigan facility was retooled for the manufacture of custom plastic parts
There is a necessity to have either hardware or software to integrate the accounting information into an automated system for viewing by the proper individuals. Below, Learning Team A will show who needs to access this information, what controls will be implemented, the type of reports to be generated from these hardware or software and importantly what type of information will be available through corporate Intranet and the Internet. Having the proper hardware and software integrating Riordan's data into automated systems will make life easier for those involved with all the accounting cycles, especially accounts receivable.
Riordan Manufacturing is a global plastics producer 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. Recently, Riordan made several strategic changes in the way it manufactures and markets its products. Because of declining sales and uneven profits over the past two years, Riordan adopted a customer-relationship management (CRM) system. Primarily sales teams instead of single salespeople, with each team focusing on a particular customer segment, now service customers. Teams typically include a sales person, product engineering specialist and customer
Riordan Manufacturing is a large plastics manufacturer with 550 employees in four locations. Riordan operates out of the following San Jose, California, Albany GA, Pontiac Michigan, and Hangzhou China. The San Jose, California facility is the corporate office and is connected to the other facilities through a Wide Area Network (WAN). According to Moore's law, the rate of technology advancement doubles every two years. With the fast development of new communication technologies, most companies have a strong difficultly task of staying with the most advance WAN
Riordan Manufacturing, based in San Diego, California, is a leading manufacturer in the plastics injection molding industry. Riordan’s most recent financial reports
One of the main reasons corporations should be socially responsible is because consumers, one of the major shareholders, expect better business practices to the extent that they
In plastics mechanized marketplace, Riordan Manufacturing is a universal head. The company has services in Albany, Georgia, Pontiac, Michigan, Hangzhou, China and San José, California. $46 billion are the roughly annual income of Riordan’s project. In 1992, the company starts actions with the company’s prime purposeful Human Resources Information System. The present scheme is component of the economic schemes parcel that follows the worker information. Latest examination of the existing HRIS has offered verification as demonstrating the scheme requirements promotion to assemble Riordan’s mounting desires. Riordan made preparations to inform the existing HRIS scheme with a further complicated HR scheme to stay as practicable.
The strategic plan St. Joe Company has instituted not only adds amenities and jobs that will be managed by their luxury division but also includes added jobs and economic influences through outside companies as well. A fantastic example of how these partnerships will be influenced through their strategic plan implementation is the recent partnership with GKN Aerospace in their Venture Crossings area. GKN Aerospace proposes to lease this new manufacturing facility, St. Joe Company 's Venture Crossing Centre, which will be developed and owned by a subsidiary of St. Joe and
It might…, people like to do business with companies that reflect their values. Duggan (n.d.) argue that as people become more aware of companies' impact on the community, they want to do business with firms that reflect their needs. Duggan (n.d.) shared if a production processes because water pollution, the company may be able to conduct business in a cost-effective manner for the short term, but public opinion and pressure to improve their impact on the environment may reduce business sales profit in the long run.