September 13, 2012
Riordan Manufacturing is a leader in the industry of plastic injection molding. Business strategies require assurance that the organization can anticipate business conditions for the future that will improve performance and profitability. Organizations should create a strategic framework for a noteworthy achievement. The framework entails formulating a mission that defines the business product of the organization. This paper will discuss competitive advantages Riordan has in common with Nike and T–mobile and what Riordan can use to improve innovation. Competitive strategies can have an effect on the long term organizational performance. Riordan will also have affect from the global market. Competitive Advantages
The following overview will describe competitive advantages from companies discussed by Team B last week. The team estimated the strategic plans of the health care industry, cell phones companies, and athletic wear franchise. T-Mobile and Nike like Riordan are prominent leaders in the industry. The equation of commonality for a competitive advantage suggests differentiation of their products. Each company offers multiple products and services that meet the need of its customers. The three companies distribute their services and products at both the national and international level. Nike increased sales by contracting with major sports teams whereas; T-Mobile increased using the talent of celebrities to promote sales. However, the Cricket Cell Phone Company, like Riordan, offered discounted plans, services, and products through sale promotions. The rationale is to ensure an affordable price that meets the demand of the consumers. The implementation of cost leadership, product differentiation, and customer focus is another strategy the companies used to gain a competitive advantage over the competition. Most important, each company...