Preview

Riordan Manufacturing Strategic Plan

Best Essays
Open Document
Open Document
3159 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Riordan Manufacturing Strategic Plan
Riordan Manufacturing Virtual Organization Strategic Plan Strategic planning considered one of the important factors to be considered by organizations seeking to improve business and process within the current organization scope. Riordan Manufacturing Inc. has become a global leader in the area of plastic injection molding with state-of-the-art design capabilities. Currently Riordan Manufacturing Inc. is looking to develop and implement a strategic plan for the organization to improve process, operation, and procedures within the company’s day-to-day work load. Within this paper team C will discuss the reasons why Riordan Manufacturing needs to develop a strategic plan by elaborating on the following reasons: environmental scanning, strategy formulation, strategy implementation, evaluation, and control.
Why a Strategic Plan is needed
In any successful business, a strategic plan is important to for the company to follow. A strategic plan allows short term and long term goals to be reached. Riordan is a worldwide company that targets customers interested in creating a unique manufacturing plastic for different purposes. The different purposes can include auto parts for manufacturers, appliance manufactures, and beverage makers and bottlers. For Riordan, the company will use the strategic plan to overcome sales and have a competitive advantage. Riordan manufacturing is a well-established business with several strategic plan steps to follow for best results from the company. The strategic plan includes five steps. The five steps are getting ready, articulating mission, and vision, assessing the situation, developing strategies, goals, and objectives, and completing the written plan (University of Phoenix, 2012).
Step one has many tasks that need to be performed before any of the other steps continue. In step one, there are five tasks that include identify specific issues or choices that the planning process should address clarify roles, create a Planning



References: Apollo Group, Inc. (2012). Riordan Manufacturing. Virtual Organizations Portal. Business Performance Measurement Tools. (2012). Retrieved from http://www.ehow.com/list_6635166_business-performance-measurement-tools.html Carpenter, M. A., & Sanders, W.G. (2009). Strategic management: A dynamic perspective concepts and cases. (2nd ed.). Upper Saddle River, NJ: Pearson Education Competitive Advantage Examples. (2012). Retrieved from http://planttostart.com/competitive-advantage-examples/ Namac. 2012. Basic Steps to a Strategic Planning Process. Retrieved from http://www.namac.org/strategic-planning-steps Tavangaran, Adam. 2012. Information on Riordan Manufacturing. Retrieved from http://www.ehow.com/about_5729395_information-riordan-manufacturing.html#ixzz21IJBLQuu Technical Change Associates, Inc. (2009). Lean assessment: World class certification. Practice areas. Retrieved from: http://www.technicalchange.com/lean-assessment-world-class-certification.html United States Air Force. (2008). MRAT: Manufacturing readiness assessment tool. Users’ manual. Retrieved from: http://www.dodmrl.com/MRAT/MRA_Tool_Users_Manual.pdf Web Finance, Inc., (2012). Feedback control. Businessdictionary.com website. Retrieved from: http://www.businessdictionary.com/definition/feedback-control.html Wheelen, T.L., & Hunger, J.D. (2010). Concepts in strategic management and business policy (12th ed.). Upper Saddle River, NJ: Pearson Education.

You May Also Find These Documents Helpful

  • Better Essays

    Pearce, J. A., II, & Robinson, R. B. (2011). Strategic management: Formulation, implementation, and control (12th ed.). Boston, MA: McGraw-Hill/Irwin.…

    • 3190 Words
    • 13 Pages
    Better Essays
  • Better Essays

    Ops 571 Week 4 Team

    • 959 Words
    • 4 Pages

    The goal of strategic capacity planning for Riordan Manufacturing's is to maximize the level of output and return of investment. Riordan Manufacturing's should create a small sister plant to China in Michigan. If we are able to create a scaled down version of the plastic molding machines from the China plant, the plastic polymers safety storage from this facility can become the regular shipment to the Michigan facility. By creating the Michigan mini-facility Riordan Manufacturing could shift the smaller customized fan orders manufacturing and excess polymer inventory from the Hangzhou facility. By reinvesting in the Michigan facility and the United States economy, Riordan Manufacturing will be better equipped to meet the clients demanding more from Riordan’s Pontiac, Michigan location.…

    • 959 Words
    • 4 Pages
    Better Essays
  • Powerful Essays

    Riordan Manufacturing is an industry leader in the field of plastic injection molding that has earned them international acclaim. (Apollo Group, Inc., 2004,). The mission that Riordan Manufacturing has embarked on will lead the company into the 21st century with a sound footing in the plastics manufacturing industry. In order for Riordan Manufacturing to be able to meet its customer 's needs and expectations, there needs to be systems in place that not only focuses on the quality but also the management of the manufacturing process.…

    • 3150 Words
    • 13 Pages
    Powerful Essays
  • Better Essays

    The Mission and Vision Statement of Riordan Manufacturing is four tier, concentrating on the company Focus, Customer Relationships, Employees and a Future Vision. The attributed discussed center upon the importance of a Quality Management Program, long-term relationships, innovative employees and sustaining future growth. By instituting "rigorous quality controls, and providing innovative solutions to customers with a responsive attitude, reasonable pricing" (The Apollo Group, Inc. 2004) can be maintained.…

    • 1062 Words
    • 4 Pages
    Better Essays
  • Powerful Essays

    References: Apollo Group. (2005, 2006, 2012, 2013). Riordan Manufacturing Intranet Portal Site. Retrieved from: Virtual Organization Portal https://ecampus.phoenix.edu/secure/aapd/cist/vop/Business/Riordan/index.asp…

    • 1520 Words
    • 7 Pages
    Powerful Essays
  • Better Essays

    Last week our group researched and discussed two companies that have many competitive advantages in common with Riordan Manufacturing. After discussing, we decided that the commonalities could all be related to one of three main advantages. Theses advantages are:…

    • 975 Words
    • 4 Pages
    Better Essays
  • Best Essays

    Strategic Plan Part I

    • 1669 Words
    • 6 Pages

    References: Hunger, J. D., & Wheelen, T. L. (2011). Essentials of strategic management (5th ed.). Upper Saddle River, NJ: Pearson Education.…

    • 1669 Words
    • 6 Pages
    Best Essays
  • Powerful Essays

    Wheelen, T. L., & Hunger , D. J. (2010). Concepts in Strategic Management and Business Policy…

    • 2923 Words
    • 12 Pages
    Powerful Essays
  • Satisfactory Essays

    Riordan Strategic Plan

    • 731 Words
    • 3 Pages

    Riordan is a leader in the industry because the organization pays strict attention to detail and quality control. Riordan also creates innovative designs with extreme precision to meet a vast array of customer needs (University of Phoenix, 2013). The strategic plan for Riordan Manufacturing, Incorporated will take the company from its current state to where the business needs to be. Furthermore, the strategic plan will guide the company and create systematic instructions to ensure the organization meets set goals, which will help the organizations visions become a reality.…

    • 731 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Final Paper Bsa/375

    • 2191 Words
    • 9 Pages

    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 system processes. The plan incorporates Subject Matter Experts (SME) to study the current process and to suggest new ideas and improved technology at the manufacturing plans.…

    • 2191 Words
    • 9 Pages
    Powerful Essays
  • Better Essays

    Riordan could increase innovation and sustainability for the business operations in the United States of America and globally by implementing a strategic capacity plan. This plan will increase effectiveness, add improvement to its supply chain, and implement the methods and concepts of lean production to gain value and over time help sustain competitive advantage.…

    • 1106 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    Mgt 498 - Week 4

    • 1346 Words
    • 6 Pages

    Riordan Manufacturing Incorporated is an industry leader in the plastic injection molding with locations in the United States and China. The organization is in the development states of identifying key strategic internal and external factors. The objective of the organization is to implement a long-term strategic plan that will help identify opportunities, threats, and to aid in managing company resources. This essay will help Riordan decide which competitive strategies they can use in the United States and globally to improve innovation and sustainability. In addition, it will explain the use of these strategies and how the global market will affect the organization.…

    • 1346 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    · Write a paper of at least 1,050 words discussing strategic capacity planning and lean production for the new process design and supply chain process for the electric fans at Riordan.…

    • 395 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    The mission of Riordan Manufacturing is to ensure that it remains an industry leader in the plastic manufacturing business and provides solutions to the existing customer base while expanding. The company will achieve this by leveraging technology and innovation to maintain and achieve profitability.…

    • 459 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Riordan Manufacturing leads the industry in the field of plastic injection molding. The organization specializes in innovative plastic designs, manufacturing plastic bottles, fans, heart valves, medical stents and other custom plastic parts. As a for-profit organization, Riordan Manufacturing is one of the fastest growing organizations in its field, with annual earning that averages up to $46 million. Though the company’s annual earnings seems like it is well off, Riordan Manufacturing is not reaching its full potential of growth and profit generation. According to the mission of the organization, the focus for the company’s future is “achieving and maintaining reasonable profitability to assure that the financial and human capital is available for sustained growth. By assuring that our employees are well informed and properly supported, we will provide a climate focused on the long term viability of our company. And we will strive to be a solution provider for our customers and not be a part of our customer’s challenges.” Like all successful companies, Riordan manufacturing always has room for improvement. In order for Riordan Manufacturing to grow as an organization and reach its full potential of generating profit, the organization must implement enhancements to all of its business systems for all departments.…

    • 2543 Words
    • 11 Pages
    Powerful Essays