Resources: Riordan Virtual Organization, Concepts in Strategic Management and Business Policy, and Competitive Advantages Paper
Scenario: The board of directors for Riordan Manufacturing has asked your team to create a strategic plan for the organization.
I need these three above bullets answered as well as the first three bullets below. Plagiarism must be less than 5% include websites and references.
Create a 2,500- to 3,500-word strategic plan for Riordan Manufacturing starting from what you learned in Week One and using a similar strategic management process as Concepts in Strategic Management and Business Policy. You may also use information from the team project you completed for Riordan Manufacturing in Week Four to create the strategic plan.
Cover thoroughly the areas of environmental scanning, strategy formulation, strategy implementation, and evaluation and control.
Address the following questions in your strategic plan:
Why does Riordan need a strategic plan?
What role should ethical and social responsibility considerations have in Riordan’s strategic management plan?
What competitive advantages does Riordan have, and which competitive strategies should Riordan utilize to improve innovation and sustainability in both domestic and international applications?
I need these three above bullets answered as well as the first three bullets below.
The board of directors of Riordan Manufacturing has requested Team B to put together a strategic plan for their organization. The following areas will be covered thoroughly, environmental scanning, strategy formulation, strategy implementation, and evaluation and control. Team B will put together a strategic plan to address the company’s vision of Riordan to expanding into the global market. This will include why Riordan need a strategic plan, the role ethical and social responsibility will play, Riordan’s competitive advantage and the type of competitive strategies used to improve innovation and sustainability in both domestic, and international applications. The measurements that will be used to verify effectiveness of the strategic plan. Also we will take in consideration the internal dynamics that reflect cultural and structural leadership in the implementation of the business strategy. We will include what type of influence this plan will have on the community. We will determine the assessment and type of feedback controls in the desired direction to take Riordan. If the strategy does not go as plan we will determine at what point we will need to alter the plan.
Environmental Scan External
This strategy will include positioning Riordan Manufacturing to be more competitive by expanding their operations in Hangzhou China. According to (Wheelen & Hunger, 2010) in order for companies to reach the economics of scale necessary to achieve the low costs, and thus the low prices, needed to be competitive, companies are now thinking of a global market instead of a national market. The first step will be to conduct an environmental scan of to access opportunities and threats. In analyzing China’s external environment there is some concern regarding air pollution. According to (ClimateProgress, 2013) an eight-year- came down withlung cancer that can be attributed to air pollution. The smog is also a threat it forces schools, roads, and airports to shut down because visibility is less than 50 yards. This air pollution is so severe it has the potential of slashing an average of five-and-a-half years from the life expectancy in northern China (ClimateProgress, 2013).
Environmental Scan Internal
The business strategy of Riordan to expand into the global market can be more expensive and may require Riordan to send employees aboard. The cost for a person in an executive position could cost upwards of $300,000 and $ 1 million annually (Wheelen & Hunger, 2010). Many managers find it difficult to adjust to foreign countries and often result in them returning to the United States before the assignment is complete. In aligning their international operation Riordan Manufacturing business strategy includes obtaining a 99% on-time delivery of electric fans using local suppliers in China, the goal also includes reducing safety stock requirement on their polymer materials.
In order for Riordan business strategy to be successful they must educate staff working aboard on the values and customs in Hangzhou China. According to (Wheelen & Hunger, 2010) Ninety percent of companies select employees for an international assignment based on their technical expertise while ignoring others. The differences between national and ethnic can make is extremely difficult to manage international operations.
Evaluation and Control