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MGT/498 Riordan Strategic Plan - University of Phoenix

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

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Riordan Strategic Plan1MGT/498 Riordan Strategic Plan-University of PhoenixHow can Riordan Manufacturing's strategic plan, focusing on innovation, ethical responsibility,and competitive advantage, help the company maintain its leadership in the plastic injectionmolding industry? Discuss the key components of the plan and their implementation in 700-800words.

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Riordan Strategic Plan2Riordan Strategic PlanMGT/498University of Phoenix

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Riordan Strategic Plan3Riordan Strategic PlanStrategic planning is the process of developing strategies for a business to achieve thegreatest success possible with the best information currently available. The idea is to build asolid structure and plan of action to meet the objectives of the business. Additionally, a strategicplan focuses on the necessary guidelines the plan must have to ensure the organization meets setobjectives. In connection, Riordan Manufacturing, Incorporated is a leader in the industry ofmanufacturing products by plastic injection molding.Riordan is a leader in the industry because the organization pays strict attention to detailand quality control. Riordan also creates innovative designs with extreme precision to meet avast array of customer needs (University of Phoenix, 2004). The strategic plan for RiordanManufacturing, Incorporated will take the company from its current state to where the businessneeds to be. Furthermore, the strategic plan will guide the company and create step-by-stepinstructions to ensure the organization meets set goals, which will help the organizations visionsbecome a reality.Need for a Strategic PlanStrategic planning is particularly effective at identifying new opportunities for growthand in ensuring every manager has the same goals (Wheelen & Hunger, 2010). As previouslymentioned, Riordan is the leader in global plastics manufacturing with its major customerscoming from the automotive, aircraft, Department of Defense, beverage bottling, and appliancefields. With a vast array of clients who are always searching for the newest and most innovativeproducts to launch into the market, clients rely on Riordan to supply the best. With the highexpectations that come from the customer’s it is imperative Riordan remains vigilant in
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Document Details

University
University of Phoenix
Course
MGT 498
Subject
Business Management

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