Management teams work with employees in educational upgrading programs for their workforce. The Mission Statement also addresses the importance of employees, and how they are regarded, how the focus is on maintaining an innovative and team oriented working environment. There are several ways for Riordan Manufacturing to innovate their products and to separate them from the competition.
Currently, the challenge is for Riordan to get employees involved, and support new strategies or initiatives.
Total Quality management in the work environment is a major and critical focus for Riordan, in every aspect.
Through the use of a balanced scorecard and the current customer base Riordan will sell beverage bottles, food containers, and automobile parts at lower rates. Both measurement guidelines allow managers to effectively evaluate organizational strategy, and determine the success or failure of current strategies.
Those variables outside the external environment of an organization consist of opportunities and threats while the inside variables consist of strengths and weaknesses in the internal environment. An internal perspective looks at the success and failures with internal functions and where adjustments or changes need to be made.
More essays like this: Management will assess areas that are not up to strategic standards or meeting organizational goals to determine what improvements can be made, how products can be improved, and identify ways to reduce production costs.
All of these areas will be monitored for fluctuation and alterations in the implementation strategy will change according to stability. Create a 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 by Wheelen and Hunger.
These components are critical to organizational success. For example, Riordan can research and develop new technology in developing stronger and longer lasting heart valves and stents.
Throughout the implementation phase, Riordan must concentration on information flow, control systems and risk management. The differentiation strategy will focus on selling custom products to specialty markets to increase revenues through the use of new product innovations. External factors to consider in helping with this plan would be political influences, legal factors, economic conditions, and geographic conditions.
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These strategic factors will determine the future outcome of the organization. The success or failure of employee understanding for new processes will depend on the employees understanding of cultural differences in multiple markets.
With Riordan Manufacturing utilizing SWOT as a tool to help determine their strengths and weaknesses, this will be beneficial in meeting their company mission and objectives. Other indications that changes need to be made will come from the monitoring lack of quality control, Falling behind in innovation, and lack of customer satisfaction.
The first being differentiation strategy, by separating yourself from the competition you can give your company an edge by providing different or superior product.
Behavioral controls are used to specify how something is to be done according to particular rules, guidelines, and operating procedures set forth by top level management.Riordan Manufacturing Strategic Plan Development Essay Sample “Riordan Manufacturing is a global plastics manufacturer employing people with projected annual earnings of $46 million.
The company is wholly owned by Riordan Industries, a Fortune enterprise with revenues in excess of $1 billion” (Apollo Group Inc., ).
A strategic management plan will keep Riordan Manufacturing vision, goals and objectives at the forefront while remaining competitive in the ever changing market of the plastic industry, and maintaining the company values. Transcript of Team A: Strategic Plan Presentation. University of Poenix SC12BSB02 MGT/ April 2, Dr.
Jay Deb TEAM A: Blend of differentiation and low-cost business strategies Provide quality products at reasonable price STRATEGIC MANAGEMENT PROCESS RIORDAN MANUFACTURING INC.
SINCE DR. Riordan Strategic Plan MGT/ April 29, Riordan Strategic Plan Strategic planning is the process of developing strategies for a business to achieve the greatest success possible with the best information currently available.
Riordan Manufacturing Strategic Plan MGT/ Riordan Manufacturing Strategic Plan Strategic managers have responsibility to both the employees and stakeholders of the organization. Engaging in strategic management decisions should include ethics and social responsibilities.
Riordan Manufacturing Strategic Plan MGT/ Riordan Manufacturing Strategic Plan Strategic managers have responsibility to both the employees and stakeholders of .Download