Running Head: Strategic Plan: Riordan Manufacturing1Strategic Plan: Riordan Manufacturing

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Strategic Plan: Riordan ManufacturingEmiko Board, Robin Deal, Kenneth B. McCollough, Charrel Sanabria, Marsha Smith,

Marina Zuluaga,May 26, 2014

MGT/498

Amy Novoa

Introduction:Team B has been assigned with developing a strategic plan to help the business Riordan gain more success within the business needs and wants. Information will be explained on why the business needs a strategic plan. Then ethical and social responsibilities will be discussed to have the most considerations for Riordans strategic management plan. Next, competitive advantages for Riordan along with the potential strategies the business can use to improve the sustainability and innovation for both internal and the domestic applications.

Then the measurement guidelines which will need to be followed will be discussed. Finally the internal dynamics, cultural and structural leadership, and other business tools used as considerations for the implementation strategy. So that the business can be influenced continuity and assessed correctly. With the proper feedback controls implemented the business will be successful. Why Riordan needs a strategic planIt is always important to have a goal and a path. Riordan Manufacturing is not exempt from this. The strategic plan is a tool from the management that serves to help a business have a direction, map, and outline to goals. This tool can be used to make the business more prepared. This management tool will keep the business organized and maintain goals. Focuses will be on the energies, resources, and time frames for everyone in the company so the entire business will move in the same direction.

This tool will help designate daily decisions, evaluating progress, and changes to the strategy when needed. The Riordan Manufacturing, Inc. is similar to other businesses because of the business division between the two governing sections. The first is a management section and the second is a functional section. For this plan to work efficiently, the Riordan Manufacturing business must give careful attention to all of the objectives. Only then will the benchmarks for the goals be realistic for the evaluated results.

Measurable goals are important to utilize. The measurable goals will measure a set timeline to ensure the specifics and concrete objectives are expressed within that time frame. The measurable goals are not just good for the business but also for the managers and employees. Evaluating the progress and pace of the developments will help the confidence and drive of the entire staff.Ethical and social responsibility considerations

Considerations for ethical and social responsibilities are important for Riordans strategic management plan. Following rules or standards that are put into place within the professional environment help enable Riordan to be an ethical business. The businesss social responsibility is determined by how their activities impact society as a whole and the environment. Strategic decisions are best made after taking into account of how their choices will impact the stakeholders. Stakeholders include suppliers, customers or anyone that is affected by the businesss activities. It would be Riordans best interest to treat its stakeholders equally. Different perspectives need to be considered before any activities are carried out. The more transparent the business can be, the better decisions can be made. Honest discussions and debates will also strengthen Riordans credibility with its external stakeholders. Management meetings should provide an opportunity for members to voice concerns and share independent ideas within a safe and coherent atmosphere. Employees that respect opinions of others will help to build relationships among co-workers. Even if someone does not agree with an idea, the business will benefit a great deal by allowing independent ideas or thoughts to be brought to the table for discussion. Archie Carroll believed business organizations need to have four main responsibilities. They are economic, legal, ethical and discretionary responsibilities (Wheelen & Hunger, 2010). It is important for management to produce goods and services that are of value to society. Legally, the business is expected to obey and follow the laws of whatever country they may be working. Riordan has several plants in different parts of the world. Each state within the United States or different countries will present separate laws that the business needs to stay in compliance. Ethical responsibilities are based more on the overall beliefs within a particular society and discretionary responsibilities are based more on the voluntary actions taken within the business. If Riordan were to follow these steps when considering their strategic planning, it would help improve their overall reputation within different communities. The business should not have a one size fits all approach to their policies and practices. Since Riordan is located in different states as well as different countries, each location needs to take into consideration its local environment. Allowing a company to have a solid reputation, attract highly qualified employees and will in return look like a good investment from shareholders. Competitive Advantages

Riordan Manufacturing, Inc. has competitive advantages over its competitors as its been in business for over ten years. The market has been established, using natural rubber for its products Riordan has proven to its consumers that the business is oriented and leaned towards meeting their needs. Within a short time that the business has been in operation, it has expanded into foreign countries. Riordan conducts its environmental scanning by watching consumers as well as industry trends. Riordan is continually conducting new research and working innovations to improve its products as well as offering it to new markets such as China, such innovations lead to strategy formulation. Constant research Riordan continues to look for new techniques and ways to satisfy consumer demands and at the same time maintain its pricing at a reasonable and affordable level.

Having a strategic plan in place will only assure the business and lead it in the right direction. For example, Riordan has shown that its employees are an important asset. This maintains that the quality associates will benefit the business. Also help in new implementations and strategies to outperform its competitors in any market that is desired. The productions of new products using natural resources are essentials that a society looks at for health concerns. In years past society was not as health-oriented, therefore, many harmful products were used and minimal information was made available for consumers. Riordan has based its reputation on quality products not only to meet the needs of consumers but also those of their employees. Maintaining a focus on societys new trends, the business can increase its current production. The business can do this without having to expand its labor force. Current loyal employees will only look forward to expanding the business and securing their own jobs. One important fact the not only Riordan but any business should conduct is an SWOT analysis. SWOTT will conduct the business in the direction needed to meet the demands as different geographical areas may not have a need for such products, social involvement in the development or introduction of products to new areas may greatly depend on the information provided. Therefore, having a convincing and reputable background will make or break their decision to try the products.Measurement GuidelinesMeasurement guidelines that should be used to verify strategy effectiveness are cost, customers, and product focus. Riordan has to be concerned with the price of manufacturing their products to the world. Considering every cost that the business incurs when the put their product on the market. Using the cost of running a business as a measure for verifying if the strategic plan that is implemented is effect. Within companies such as Riordan, they measure the businesses strategic effectiveness by how much it cost them to manufacture their products and provided them to their consumers. Measuring how much it cost the business to manufacture their product and ship it globally is an effective way for Riordan to know if their measurement guidelines are bring success to their business. In the manufacturing industry, the cheaper you can make a product the more profit there is to make for the business. Companies search for ways to provide their products at low cost so they can increase their profits in the marketplace.

Finding innovative ways to cut the cost of their products helps improve a businesss ability tosave money on manufacture allows for a business to make money. When a business focuses on their products they increase their ability to reach their target audience. A business can do this by using the product focus as a measure to see if the strategic plan can assit with the businesss growth with it products. Rioradan wants to ensure that their consumers have long lasting relationships with its consumer. For example if Riordan makes a bottle that provides less plastic used when produced their consumer can say that they are causing less waste in the environment. Also, they would have less plastic wasted over time. Strategic plans like the example helps the business know what the consumer base is looking for in a product. A businesss consumer base it guideline that a business uses so that they can see which products are selling and which products that the majority of their audience is look to purchase. Knowing your consumer is important so that you know what products and services they are most interested in purchasing. Knowing the guidelines that are measured to verify the effectiveness of the strategic plan helps a business measure the success of the business.Strategic Plan

The implementation of a strategic plan is the starting point of the journey to business effectiveness and business success that is desired by every organization in the 21st century. Long gone are the days when businesses were started with purposes other than the making of profits and prosperity. Today, business enterprises serve the primary purpose of generating profits for the stakeholders. In order to achieve this primary goal, business ethics demand that the brains behind a business startup come up with a strategic plan that will act as a light for the business path all the way to success. This paper will outline the cultural and leadership considerations, among others and how they will be used to implement the business strategy for Riordan business.

Discussion

Riordan, the manufacturing business in the United States identifies with several other similar companies in the market whose products and services are similar to its own. As such, the business needs to have a strategic plan that will enable it stay remain in the market despite the cut-throat competition posed by the market rivals. Both internal dynamics and structural considerations have got to be made in the process of implementing the strategic plan. The internal dynamics of the business are significant factors to consider in the implementation of the strategic plan for the Riordan manufacturing company (Majeed, 2013). For instance, the roles of employees in relation to their cultural beliefs have a bearing on the overall performance of the workforce.

Therefore, the business needs to be sensitive enough on the cultural beliefs of its employees not to criticize them, but rather appreciate them and give them the opportunity freely to exercise their beliefs. This will translate into better credit ratings and impressive returns as a result of a motivated workforce. In addition, proper considerations, as far as the corporate governance and employees' cultures are concerned, will guarantee Riordan Manufacturing Business continuity in the future. This is because the levels of employee loyalty, coherent relationships among employees and effective leaderships shoot through the roof (Rutherford & Myer, 2001). Ethics in business play an important role as they dictate the code of conduct to be adopted by the employees and the entire staff in general. Morality, on the other hand, is based on the fact that religion has its consensually accepted code of conduct in which all mankind is expected to uphold. The law is an important tool as it can be used to enforce both ethics and morals in the business setting. The business, strategic plan should consider the interrelationships that exist between the laws, morals and ethics during the implementation process (Durkheim, 2013).

Before the implementation of the strategic plan, the business needs to put into consideration the environmental factors in the surrounding. Environmental scanning is followed by strategy formulation, and this is where the business takes note of the changes taking place in the business environment in order to know what step is necessary for the business. Environmental scanning is an important practice as it helps the business to work out the environmental uncertainties that might otherwise overwhelm the business in case they are not addressed. This scanning involves the monitoring; evaluating and disseminating of relevant information to the stakeholders of the business that in turn use it to offset the uncertainties that are likely to surprise the business in the near future. This information is both internal and external to the business, and proper manipulation gives the business a competitive advantage over its rivals. This is because environmental scanning gives the business stakeholders, key information that takes it a step ahead in terms of competitive advantage (Fabbe-Costes, Roussat, Taylor & Taylor, 2014).

Strategy formulation and strategy implementation are the steps that follow soon after an environmental scanning has been carried out. This is where the business establishes its vision and mission statements as well as its objectives and policies. Strategic implementation, on the other hand, is when a business puts together resources, programs and budgets that are meant to steer the business into the achievement of its goals (Ho, Wu & Wu, 2013). After the objectives and policies, as well as situational analyses, have been done, and budgets and programs have been put in place to kick start the operations of the business, an evaluation is supposed to be carried out. This is in order to ascertain that the performance of the business is in line with the objectives that were set in the strategy formulation stage. The business also needs to capitalize on the feedback from the consumers in order to apply appropriate corrections in the failing areas of the business.In conclusion, the strategic plan of a business outlines the procedural activities that the business is set to be involved in for the goals of the business to be realized. Strategy formulation involves the identification of the internal weakness as well as the external threats that the business is likely to encounter in the course of its operations. Strategy implementation is when the resources required in the activities of the business are put together. Both strategy evaluation and implementation are done after an environmental scanning has been done to help the stakeholders offset the uncertainties that might overwhelm the business in the future. Evaluation and control are done at the stage where the business evaluates the performance of its operations in order to establish whether it is in line with the standards set in its objectives and policies. The business makes use of feedback to improve its performance hence enhancing its continuity in the market.Assessment and Feedback Controls Riordan can use a series of assessments and evaluation tools in order to determine if the new strategic plan is working. These assessments are effective in evaluating the businesss overall competence, performance and skills. Riordan has many different area or departments that will need to be assessed; such as the manufacturing department, the overall performance of employees, and more importantly the quality of the products. Some assessment tools that Riordan can implement is; The Manufacturing Readiness Assessment Tool better known as (MRAT), this tool is used to determine the product or technology readiness. Riordan will also utilize the Lean Assessment Tools in which are used to evaluate a businesss process of production, shipping, operations, logistics, and all of the support departments of the business. Riordan will also use an Employee Performance Assessment which will be given to each employee quarterly; this assessment will determine each employees level of understanding and competences, along with each employees skill level. This is a critical assessment that determine the morale and loyalty of the employees. If the employees do not understand the direction of the business, more mistakes can be made, and moral can be dangerously low. Lastly, the Quality Assessment tool will paint a clear picture of the quality needed to push the product. The quality assessment results are vital to the businesss longevity which can determine the quality measures and indicators which can then determine the strengths and weakness of the products. These assessment tools can be uses to make Riordan an efficient, productive, and successful business.

Riordan will develop the feedback through these assessment tests that will evaluate and summarize information to determine if the strategic plan is working. Feedback controls will be developed through a dashboard app that will periodically check the status of the business in true time. The information in the dashboard would include daily production reports, quality control reports, and logistic reports. The dashboard app will provide upper management information that can help improve or tweak the strategic plan. If the dashboard app provides little or no variance between the standard and true performance than the plan is on target. If the dashboard creates a variance it could be suggested that there would be a deviation from the original strategic plan and management should revisit the plan to get the business back on target. Employee feedback can also motivate the employees with performance based rewards that would create a high moral standard within the organization. If the information gathered reflects negative results then the strategic plan would have to be revisited and implemented. Conclusion: Team B has properly given all the information for making Riordan Manufacturing a stronger, dependable, and more efficient organization. Strategic plans will help the business remain strong and get more efficient. Ethical and social responsibilities have been considered for this strategic change. Competitive advantages were then discussed and the competitive advantage was developed for what would be best for the organization.

The proper measurement guidelines have been discussed to verify the strategy effectiveness. Internal dynamics, cultural, and structural leadership considerations have been implemented to support the strategy for Riordan Manufacturing. Finally contained monitoring the data and feedback will give the most accurate information to the business. Alternate avenues may need to be taken if the plan is not going well, or as good as what was once predicted. ReferencesDurkheim, E. (2013). Professional ethics and civic morals. London: Routledge.Fabbe-Costes, N., Roussat, C., Taylor, M., & Taylor, A. (2014). Sustainable supply chains: a framework for environmental scanning practices. International Journal of Operations & Production Management, 34(5), 664-694.

Ho, J. L., Wu, A., & Wu, S. Y. (2013). Performance measures, consensus on strategy implementation, and performance: Evidence from the operational-level of organizations. Accounting, Organizations and Society, 39(1), 38-58

Majeed, A. (2013). Application of business process through talent management: An empirical study. Journal of Marketing and Management, 4(2), 46-68.

Rutherford, K., & Myer, G. (2001). Business continuity do you have a plan? Canadian Underwriter, 68(4), 38-41.

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

Policy(12th ed.). Retrieved from The University of Phoenix eBook Collection database.