Competitive Strategies of Riordan

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Competitive Strategies of Riordan

The decision to begin, enter, or continue with a business venture has a specific amount of risk associated with the undertaking and once begun specific goals and objectives need outlining and measurement devises put in place to confirm the future success of the entity. In a simple form, a strategic plan determines where an organization is going during the year to two years, how it will get there, and if it can reach the objective desired. There is a variety of approaches in a strategic plan but what need the most consideration is the leadership in an organization, organizational culture, and the organizational environment. One manner of ensuring the continuity and attainment of a
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Merging with other companies can increase assets, competencies, and markets (Investing Answers, Inc., 2012). Whereas Riordan can merge with other companies, they must first prepare for the cultural differences between Riordan and the combining company. When merging two companies together, cultures are one issue that will be difficult to encounter and the restructuring of the company by reducing the duplicated work and selecting a management team that could take on a responsibility of realigning the company. The positives of one organization can be the negatives of another or vice-versa, but the focuses of identifying strategies that work establishes the standards for a merger to be successful. Riordan should look into acquisitions once they are large enough to purchase smaller companies.
Measurement Guidelines Used to Verify Strategy Effectiveness The measurement guidelines to verify strategy effectiveness are consistent and tracked have more to do with the training of employees in an organization and the implementation process of the strategy used. In many cases, employees receive new and improved tools that can establish metrics and standards that state what objectives need completing. In the same process, a training module that breaks down the tasks and responsibilities of all stakeholders and their expectations needs inclusion. This will enhance how each employee affects the
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