MGT/498 Riordan Strategic Plan - University of Phoenix

Name: MGT/498 Riordan Strategic Plan - University of Phoenix
Brand: University of Phoenix
Price: 2 USD
Availability: InStock
Author: David Rodriguez

This assignment focuses on creating a strategic plan for Riordan Manufacturing, addressing key business objectives and strategies for success.

David Rodriguez

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Riordan Strategic Plan 1
MGT/498 Riordan Strategic Plan - University of Phoenix
How can Riordan Manufacturing's strategic plan, focusing on innovation, ethical responsibility,
and competitive advantage, help the company maintain its leadership in the plastic injection
molding industry? Discuss the key components of the plan and their implementation in 700-800
words.

Riordan Strategic Plan 3
Riordan Strategic Plan
Strategic planning is the process of developing strategies for a business to achieve the
greatest success possible with the best information currently available. The idea is to build a
solid structure and plan of action to meet the objectives of the business. Additionally, a strategic
plan focuses on the necessary guidelines the plan must have to ensure the organization meets set
objectives. In connection, Riordan Manufacturing, Incorporated is a leader in the industry of
manufacturing products by plastic injection molding.
Riordan is a leader in the industry because the organization pays strict attention to detail
and quality control. Riordan also creates innovative designs with extreme precision to meet a
vast array of customer needs (University of Phoenix, 2004). The strategic plan for Riordan
Manufacturing, Incorporated will take the company from its current state to where the business
needs to be. Furthermore, the strategic plan will guide the company and create step-by-step
instructions to ensure the organization meets set goals, which will help the organizations visions
become a reality.
Need for a Strategic Plan
Strategic planning is particularly effective at identifying new opportunities for growth
and in ensuring every manager has the same goals (Wheelen & Hunger, 2010). As previously
mentioned, Riordan is the leader in global plastics manufacturing with its major customers
coming from the automotive, aircraft, Department of Defense, beverage bottling, and appliance
fields. With a vast array of clients who are always searching for the newest and most innovative
products to launch into the market, clients rely on Riordan to supply the best. With the high
expectations that come from the customer’s it is imperative Riordan remains vigilant in

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University

University of Phoenix

Subject

Business Management

MGT/498 Riordan Strategic Plan - University of Phoenix

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