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Riordan Strategic Plan Paper
Transcript of Riordan Strategic Plan Paper
Feedback Considerations Riordan should put into action
Assessment and Feedback Controls
Internal Dynamic & Resource considerations
Riordan Virtual Organization
Innovation & Sustainability Considerations
Riordan Manufacturing Strategic Plan
Jonathan, Mario, Greg, Red, & Abel
Obtain Existing Policies and Procdures
Provide Detailed Reporting
Program –restructuring the corporation (six sigma, TQM)
Changing the company’s internal culture (communication, input)
New research-increased production efficiency to 5%
- Differentiation with lower cost strategy, High
Budget -employee incentive/promotions/environmentally friendly products
Procedures – Who are the people who will carry out the strategic plan?
What must be done to align the company’s operations in the new intended direction? Lead/Communicate
How is everyone going to work together to do what is needed? Lead/Communicate
Why Riodan Manufacturing needs a strategic plan.
Strategic Management Process Step by Step in regards to Riordan Manufacturing.
Environmental Scanning for competitive advantages.
Innovation & sustainability considerations.
Internal Dynamic & Resource considerations.
Feedback considerations Riordan should put in place.
Riordan Manufacturing Information
Created in 1991 by a chemist professor named Dr. Riordan.
Global manufacturer of plastic products.
Head quartered in San Jose, CA with facilities in Albany, Georgia; Pontiac, Michigan; & in Hangzhou, China.
Major customers include automotive part manufacturers, aircraft manufacturers, Department of Defense, beverage makers, & appliance manufacturers.
Why does Riordan need a strategic plan?
Focus on operational objectives.
Improve business structure.
Overview and analyze day to day operations.
Based on Jim Harvey's speech structures
Use of history tracking on sales.
Upgrade their sales database and files for marketing research, plans, design awards should be electronic, easily available and to be used by the Marketing Department.
Superior customer service is associated with growth of an organization.
A database allowing the opportunity to service customers and see the history with the organization gives prospects for future sales, higher volumes, etc.
The strength of the Marketing Department is sales, employee motivation, and incentives from promotions. Price/Volume discounts are a good incentive for customers with large potential volume purchases.
Allow the employees to give input with their knowledge and experience.
Stronger competitor studies should be applied because it will allow the company to see the trends in the industry and creatively assemble strategic techniques for growth.
It is important to establish clear focus on the culture and customs of other countries in the global market. A good understanding of business practices overseas is necessary so expansion and growth can be accomplished.
Innovation & Sustainability.
Understand Areas and Guide Employees
Connect Teams and Plans
Align Culture with Strategy
Shape Structural Leadership
Customer Surveys/Employees feedback Satisfaction
Organizing for action –meeting, status
Staffing –who is going to implement
Directing (leading )-Manager selection
Ethics and Social Responsibility
- Necessity to any strategic management plan
- Act as a guide
- Not just profits
- Lack of core values and ethics will determine the outcome of the organizations future.
- Diversify products to open new markets
- Go paperless
- Build 3 R&D and 12 factories
- Implement tuition reimbursement program
- Increase net profits by 3% every year
- Reduce overhead costs by 15%
- Expand to 15 locations by 2020
- Increase employee knowledge
To be the leader in using polymer materials to provide solutions to their customer challenges and to be the leader in identifying trends. Riordan customer focus is to build long-term relationships through maintaining quality controls, innovative solutions, a responsive business attitude, and reasonable in price. The company committee to maintaining an innovative and team orientated work environment providing a climate focused on the long term growth of the company.
Riordan currently uses an industry standard Six Sigma competitive strategy.
Riordan uses the high-volume production method to their advantage to generate high profits.
Riordan has a revolving product line, which creates value, and sustainability because their products are reprocessed (Cost Reduction).