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Copy of Business Project
Transcript of Copy of Business Project
What to do?
The industry leader in the field of plasticinjection molding
Founded by Dr. Riordan in 1991
Riordan's manufactures products and services
Riordan Competitive Advantages & Strategies
Steps in a Strategic Plan
Why a Strategic Plan
Evaluate and Control
Evaluating an Implemented Strategy
Measurement Guidelines used to verify strategy effectiveness
THANKS FOR THE
We have the capacity and technology to meet your unique needs!
Focus: Exceeding Industry Standards by applying Six Sigma leading edge technology
Customer Relationships: Long Term Relationships by maintaining quality controls, innovative solutions, responsive business attitude and reasonable pricing
Employees: Through proper support, and innovative and team oriented working environment
Future: Focused in achieving and maintaining reasonable profitability to assure that the financial and human capital is available for sustained growth.
Strengthen the Riordan brand
Become the industry leader with environmental friendly products
Create Competitive Advantage
Growth & Development
Create a Company Mission and Vision
Establish Goals and Objectives
Evaluation and Control
Develop Action Plans
Make Necessary Changes
It forces the organization to review
The plan provides a future goal/goals
Provides awareness internal and external
Focuses on the mission and objectives
Assessing cultural matches
Code of Ethics
Caring for Employees
Understanding Different Cultures
Primary Measures of Performance
Financial-How does the shareholder view us?
Customer-How do customers view us?
Internal business perspective-What are we good at?
Invocation and learning-how can we improve
Evaluation and control process
Determine what to measure
Establish standards of performance
Measure actual performance
Compare actual performance with standard
Take corrective action
Leaders in the Industry
Several facilities used for implementation of production efficiencies
Ability to go Global
Focused on Environmental protection
Injection Molding Process (Low Cost)
Involves determining what to measure
Specific the implementation process and expectations
inspections of delivering products and services
set achievable goals
establish budget for years to come
Measure communication among the employees internally & externally
Return on investment (ROI)
measurements must be evaluated in a consistent manner
Monitoring and evaluation
Forecasting & Planning
Restructuring the strategy
Strategic planning helps an organization with industry change, challenges, and allows for opportunity. Through Strong leadership, continuous planning, and effective implementation Riordan Industries has the endless abilities for growth and achieve their desired goals
Alexander Suarez, Marilyn Manrique, Nick Henriquez, Otis Morris, Santiago Munoz
MGT/498- Strategic Management
July 30th, 2013
Instructor: Dana Hightower
Ireland, R. D., Hoskisson, R. E., & Hitt, M. A. (2012). Understanding business strategy: Concepts plus. Mason, OH: South-Western Cengage Learning.
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2013). Strategic management: Competitiveness & globalization. Mason, OH: South-Western Cengage Learning.