Strategic Plan: Riordan Manufacturing MGT/498 October 2013 Riordan Manufacturing Strategic Plan Why is strategic management necessary? Strategic management, and business policies are essential for organizations to gain competitive advantage within their respective markets. Organizations like Riordan Manufacturing implement policies, and procedures to provide structure, and standardize operations in efforts to maintain proper control of production, inventory, and logistics. Developing a strategic
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Riordan Manufacturing Strategic Plan Why is strategic management necessary? Strategic management, and business policies are essential for organizations to gain competitive advantage within their respective markets. Organizations like Riordan Manufacturing implement policies, and procedures to provide structure, and standardize operations in efforts to maintain proper control of production, inventory, and logistics. Developing a strategic plan focuses on the need for planning, roles of ethical and
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clarifies organizational objectives and anticipated end results with a method of evaluation, providing a picture of the future based on current trends and forces that might influence the organization (Ahoy, 1998). There are five compelling reasons for Riordan Manufacturing to develop a strategic plan besides that of taking charge of the organization’s future. First, strategic planning forces management to look into the future and develop a proactive position of influence. It provides a better awareness
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Strategic Plan Paper Strategic Plan Paper Riordan Manufacturing recognizes the fact that they are an industry leader in plastic injection molding and supplier of plastic medical devices. Riordan also recognizes that they are not progressing in the industry as they would like. Recognizing the need to create better value products which will increase sales is the first step in this plan for sustainability. Riordan needs to obtain new customers. In order to do this, they must predict customer
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Riordan Manufacturing Strategic Plan MGT/498 Riordan Manufacturing Strategic Plan Strategic managers have responsibility to both the employees and stakeholders of the organization. Engaging in strategic management decisions should include ethics and social responsibilities. The expectation of such responsibilities from stakeholders is to fulfill legal and ethical economic decisions. Satisfying the purpose of the strategic planning process for Riordan Manufacturing, the management
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Competitive Strategies of Riordan The decision to begin, enter, or continue with a business venture has a specific amount of risk associated with the undertaking and once begun specific goals and objectives need outlining and measurement devises put in place to confirm the future success of the entity. In a simple form, a strategic plan determines where an organization is going during the year to two years, how it will get there, and if it can reach the objective desired. There is a variety
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Supply Chain Design Paper OPS 571 February 4, 2014 Riordan Supply Chain Design Report Riordan Manufacturing is a global plastics manufacturer that supplies plastic fan parts, and plastic beverage containers. The products are produced at different plants around the world. Riordan uses level strategy for their employees. This means that the organization manages to keep a steady labor force at a consistent rate. Riordan’s lost sales, backlogs, and fluctuating inventory levels help to eliminate shortages
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2014 Riordan’s Strategic Plan Riordan Manufacturing is a Fortune 1000 company that that leads the world in the manufacturing of plastics and plastic injection molding. With more then a billion dollars in revenue, Riordan has decided to shore up their global business by developing a strategic plan that will take the company into the next five years. With global and domestic operations based in Michigan, California, Georgia, and China, Riordan has reviewed their business structure and revealed
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The Goal of this summary is to provide Riordan Manufacturing the ability to facilitate business needs for the four divisions within Riordan Manufacturing; Finance and Accounting, Internet Site, Sales and Marketing, Human Resources and Legal, and Operations. Finance and Accounting Presently, all four locations use finance and accounting systems to collect, analyze and generate financial data for the company’s sales and revenue reports. This requires the company to manually generate reports, re-enter
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AACSB Table 10-1: Summary of Faculty Qualifications, Development Activities, and Professional Responsibilities Date Range: January 1, 2007 - August 1, 2012 Accounting: Professor | | | | | | | Five-Year Summary of Development Activities Supporting AQ or PQ Status | | Name | Highest Earned Degree & Year | Date of First Appointment to the School | Percent of Time Dedicated to the School's Mission | Acad Qual | Prof Qual | Other | Intell. Contrib. | Prof. Exper. | Consult. | Prof
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