Strategic Plan for Riordan Manufacturing Inc.
Learning Team B
Rich Eggimann, Jon Garcia, Stephanie Mofford, Staci Sherwood
January 16, 2013
Dr. Carmelo A. Di Salvo
Strategic Plan for Riordan Manufacturing, Inc.
An examination of the contents of this paper reveals a brief history of Riordan Manufacturing, Inc. (Riordan), as well as their strategic plan. The plan will include the reasoning behind the plan, what roles ethics and Corporate Social Responsibility (CSR) play in the plan, and what competitive advantages Riordan will utilize to capitalize on both domestic and international markets. In addition, a description of the measurement standards used to verify strategy effectiveness, and which internal dynamics along with cultural and structural leadership considerations Riordan uses for strategy implementation. Riordan’s History
Riordan Manufacturing, Inc. is a highly sophisticated plastics manufacturer headquartered in San Jose, California. Started by Dr. Riordan, the company is currently manufacturing in three states as well as China. Riordan manufacturing prides itself on innovative plastics used in “heart operations, automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers” (Riordan Manufacturing, 2012, p. 1). Riordan’s estimated earnings for one year exceeded $45 million dollars and are on target to generate increased revenues. Reasoning for the Strategic Plan
Riordan Manufacturing is the premier plastics manufacturer in the United States and quickly expanding on a global scale. It is imperative that Riordan formulate and implement a strategic plan to maintain its position in the industry. Our committee has formulated a plan that will ensure prosperity locally and globally, while mindful of the environment. Riordan’s mission states, “We are industry leaders in using polymer materials to provide solutions to our customer’s challenges. Our R&D is, and will remain, the industry leader in identifying industry trends” (Riordan Manufacturing, 2013, p. 1). Riordan’s goal is to maintain customer relationships while identifying new products that enhance the lives of customers on both a local and global scale. Our committee is confident that the following strategic plan will suffice even the most doubtful of believers of why a strategic plan is important to the success and future of Riordan.
Riordan’s parent company, Riordan Industries, enjoyed revenues last year in excess of $1 billion dollars and anticipates another billion dollars this year. To accomplish this, each Strategic Business Unit (SBU) must be profitable, including Riordan. A strategic plan is internally important to maintain adherence to policies, employee satisfaction, and the designing of new and innovative products.
A strategic plan also makes certain that we maintain revenue for expansion, for the success of Riordan. Riordan needs to understand who they are, where they are going, and their purpose in regard to their position, and importance on a global scale. Externally, an industry analysis and an environmental scan is essential to monitor competitors in the industry as well as study the social and economic conditions of both the United States as well as abroad. Riordan will examine opportunities and threats, such as extended expansion and competitors by forming small teams that constantly will monitor conditions.
Riordan’s Environmental Scan
| |Opportunities |Threats | |External | | | | | |Market segmentation...