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Riordan Manufacturing

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Strategic Plan
Riordan Manufacturing is a mid-size American company that was founded in 1991, employs 550 people and has projected annual earnings of $46 million. Riordan has three manufacturing locations, two in the United States and one in China. Riordan understands the importance of strategic planning and will lay out their reasoning in this paper. Competitive advantages, sustainability, innovation and ethical and social responsibilities will be addressed, as well as cultural and structural leadership and assessment and feedback controls.
Riordan Manufacturing, Inc. needs strategic plans because Riordan Manufacturing, Inc. is like any other business organization; divided into two governing sections of business operations a management …show more content…

Companies that follow these guidelines can charge higher prices, which helps to offset the costs incurred. They also increase customer loyalty and cultivate an image as a responsible company. Employees are happier and more motivated to work at companies that address these growing concerns. Financially, they have a much better chance of attracting capital investments. Finally, environmental and community groups are more likely to support companies that address issues like these.
Riordan Manufacturing, Inc. states on their webpage “Six Sigma, leading edge R&D and exceeding ISO 9000 standards define the attitude and abilities of Riordan Manufacturing” (Riordan Manufacturing Inc., n.d., p. 2). Riordan Manufacturing, Inc. has most likely decided to use the cost leadership and product innovation business strategies because these strategies allow Riordan Manufacturing, Inc. to compete with their competitors on two levels. Currently Riordan Manufacturing, Inc. is operating in Hangzhou China and is partnered with Chinese affiliates that own manufacturing facilities on the Qiantang River. The cost reduction in shipping and manufacturing permits the cost leadership business strategy; underpricing competitors in foreign and domestic markets. This brands the organization as the market maker for pricing in plastics manufacturing. Riordan Manufacturing, Inc. also states on their webpage “Our R&D is, and

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