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STRATEGIC PLAN

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TROY PARROTT

on 16 December 2014

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Transcript of STRATEGIC PLAN

STRATEGIC PLAN
MGT/498 Strategic Management
TEAM D
Maria Kelly, Jeymi Charles, Josh Acre, Teresa Sandoval, Leah Navidad,Troy Parrott

GOAL!
To be leading edge R&D and exceeding ISO 9000 standards define the attitude and abilities of Riordan Manufacturing.
Conclusion
AGENDA
Why does Riordan need a strategic plan?

Ethical and social responsibility considerations

Competitive advantage & strategies that will improve innovation/sustainability

Measurement guidelines that verify strategy effectiveness

Internal dynamics along with cultural & structural leadership

How do they influence business continuity?

What assessments & feedback controls are used to determine direction?

Conclusion
Environmental Scanning: SWOT Analysis
Why Does Riordan Need a Strategic Plan?

What is strategic planning?





5 Good Reason Why: by (Kelchner, L., 2014)

- To establish direction and implement the order by priority
- To ensure that each department works together
- To simplify decision-making
- To drive alignment
- To communicate the message
Ethical and Social Responsibility Considerations
Four Social Responsibilities:

1). Economic

2). Legal

3). Ethical

4). Discretionary





Riordan Manufacturing and Competitive Strategies
Competitive Strategies to Improve Sustainability
Measurement Guidelines
Measurement Guidelines
Internal Dynamic and Resource Considerations for Strategy Implementation
Internal Dynamic and Resource Considerations for Strategy Implementation
Business Continuity and
Disaster Recovery Strategic Plan
Assessment & Feedback Controls
When to Alter the Strategic Plan?
Internal dynamics
Consists of a variety of behaviors that are expressed
Always changing
Guidelines for encouraging positive behavior and alleviating negative behavior

Business strategy
Balance of battling and tolerating negative behaviors, and encouraging positive deviance.
Reflect that employees will need leadership in different situations or while performing different tasks.

Riordan has worked extremely hard on building a solid foundation that everyone should be proud of. Our goal today, is to enhance the performance, the flow, and build Riordan to a higher level by making Riordan the number one company. Our staff will design a strategic plan that will help us accomplish our mission, at the same time generate a stronger relationship, not only to the stakeholders, but also to the employees and customers. By focusing on
environmental scanning, strategy formulation, strategy implementation, and evaluation and control.
Top executives need to specify what implementation processes and results would be monitored and evaluated to verify strategy effectiveness.
Performance data
Daily activity reports
"The
balanced scorecard
combines

financial measures that tell the results of actions already taken with operational measures on
customer satisfaction, internal
processes, and the corporation’s innovation and improvement
activities—the drivers of future
financial performance."
References

The plan will include the following procedures in case of physical asset disasters that involve the destruction of:

• An office building due to fire or natural disasters
• Loss of electrical power
• Flooding
• Computer or data center malfunctions
• Technical downtime

Internal disasters could include:
• Loss of staff due to illnesses, such as a pandemic
flu or plague.

Outside disasters could include:
• Disruptions in transportation due to oil crises
• Strikes
• Terrorist attacks
1. Planning for the impact of an unexpected or catastrophic event or interruption.

2. List of employees and contact information.

3. Department business functions/processes.

4. Assessing your data and technology needs in the event of a failure in operations.

5. Developing the plan.

6. Communicate your plan to employees and vendor partners.

7. Coordinate with external departments.

8. Test the plan.

9. Maintaining the plan.
Business Continuity Goals
Measurement Guidelines
Riordan has a strong reputation globally for its quality, products, and services.

Riordan's Mission: "We are industry leaders in using polymer materials to provide solutions to our customer’s challenges".

Company Goals

Monitoring profits over and established amount of time (such as every month).
Track new and innovative ideas, in order to gather them and determine which can be used to effectively move towards the established goals.
Quarterly manager and employee performance reviews. To ensure both managers and employees are on the correct path to meeting its company's established goals.
Business Continuity Planning Checklist
The Strategic Plan should only be altered when the current path the company is on is not conducive with its overall goal.
Before altering the entire plan, small adjustments should be made with the hope of realigning the current path with the overall goal. if this does not work, then the entire plan needs to be reviewed and changed.
1. Preparation for any unexpected event.

2. Strengthen your organization.

3. Show your investors that we take business seriously.

4. Show your employees that Riordan cares.

5. Help protect your company’s image, brand, and reputation.
Implement Strategic Capacity Plan
Increase Innovation and Sustainability - New Technology and Bio-Technology
Expand on customer needs and demands - US and Global - Identify with Customers
Quality products and Lower production costs
Eco-friendly plants (Georgia, Michigan, and China)
Increase Environmental Awareness
Disposed of raw materials - Recycling
Damaged bags of dyes - air pollution
Energy waste
Lighting, heating, and processing equipment
Cost Leadership in Industry - Foreign and Domestic
Six Sigma Competitive Strategy
Solid Customer Base
Research and Develop Technology and Bio-Technology
High Volume Method - Generate High Profits
Revolving Products - Increase Value and Sustainability
Cost Reduction - Shipping, Manufacturing (reprocessed products)
Partnership with Chinese Manufacturers - Laws and Regulations
DisasterRecovery.org. (2014). Retrieved from http://www.disasterrecovery.org/business_continuity.html
Kelchner, L. (2014). The Importance of Ethics in Organizations. Retrieved from http://smallbusiness.chron.com/importance-ethics-organizations-20925.html
Riordan Manufacturing Inc. (n.d.). Mission. Retrieved from https://ecampus.phoenix.edu/secure/aapd/cist/vop/business/Riordan/RioMfgHome002.htm
The Trustees of Indiana University. (2014 ). Business Continuity Planning Checklist. Retrieved from https://protect.iu.edu/emergency/bcp/checklist#1
U.S. Department of Homeland Security (2014). Federal Emergency Management Agency. Retrieved from https://www.fema.gov/media-library/assets/documents/89510
Wheeler, T. L., & Hunger, J. D. (2010). Concepts in Strategic Management and Business Policy (12th ed.). Retrieved from The University of Phoenix eBook.

Accomplishing mission by implementing a strategic plan.
All employees contributing at high levels.
A stronger relationship to be forged between stakeholders, employees, and customers.
Evaluate and monitor Riordan's strategies so the organization can continue to be the leader in the manufacturing industry.
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