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Riordan Manufacturing Strategic Plan

894 Words4 Pages

Strategic Plan
Jae Green, Connie Hall, Sharon Carr, Nicquan Sanders
Management 498
November 7, 2014
Dr. Joseph Glasgow

Strategic Plan
Strategic planning is the procedure for developing a plan of action to meet the goals of the business. As well, the strategic plan must include the necessary guidelines to make sure that the organization is able to meet the objectives needed to be successful. Riordan Manufacturing is a plastics manufacturer that has a noted proven success and has worked its way to being a Fortune 1000 company. Riordan recognizes the significance of strategic planning and the need to stay ahead of the competition. Currently, the plan that Riordan has in place is not only part of their strategy, it is also their way of …show more content…

Strategic management is divided into stages that concentrate on the total operation of the implemented system.
This is also necessary because Riordan is a global company. The economy and laws overseas play a major part in the operation of Riordan, therefore, the strategic plan that Riordan has in place will help to maintain organization and production. The strategic plan will help the company determine the areas that are working and those areas that need an adjustment.
By creating and maintaining a strategic plan, the company can reduce the majority of risks that may occur, any errors that may arise later on, and can protect the company of any issues that may affect the economy, which will in turn cause a problem with business. It has already been established that Riordan is leading the plastics manufacturing industry, which shows that their plan is working, and that they have the competitive advantage in the industry.
Competitive …show more content…

Riordan’s strategy is to create bottling that is environmentally friendly and that is more advanced. They also seek to build long term relationships from the production line to the customer. Riordan also wants to make sure their pricing remain reasonable. However, the current processes used by Riordan may appear to be a strategy but in fact, it is simply their way of doing business. “Differentiation strategy is the ability of a company to provide unique and superior value to the buyer in terms of product quality, special features, or after-sale service” (Thomas L. Wheelen,

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