Mgt 498 Week 4 Advantages Paper

962 WordsJun 12, 20134 Pages
Competitive Advantages – Riordan Manufacturing Name here University of Phoenix MGT 498 Professor , Instructor Date Here Decide which competitive advantages Riordan has in common with the companies researched last week, and estimate which competitive strategies Riordan could use to improve innovation and sustainability of business operations both in the United States and in the global market. Last week our group researched and discussed two companies that have many competitive advantages in common with Riordan Manufacturing. After discussing, we decided that the commonalities could all be related to one of three main advantages. Theses advantages are: 1. Being an industry leader – Riordan is an industry…show more content…
and global operations. 1. Developing Best HR and Hiring Practices 2. R&D of New Product Lines 3. Operational Efficiency Explain why you chose these competitive strategies and estimate how they might affect sustainability of long-term organizational performance. It is vitally important for any organization to hire the best candidates for their company. “The hiring approach or strategy is imperative to any organization seeking to dominate or sustain themselves with-in their market-place.” (Sullivan, Dr. John, July, 25, 2011). One specific function Riordan uses to attract and maintain the best qualified candidate is; their “Compensation Philosophy/strategy. Riordan’s Human Resource Department conducts external environmental scans to determine the median pay. Hire the desired employee’s at median, yet competitive wages. Orchestrate a collaboration of employee’s to assemble teams, and compensate/reward according to innovations, ideas, achievements, etc. This approach encourages/motivates teamwork, which make Riordan a close net company, and also “allow for considerable flexibility in rewarding individual performers based on their specific skills and contributions.” (Virtual Organization, Apollo Group, 2011). Increasing research and development can contribute to innovation and sustainability of business globally and in the U.S. in many ways. Increasing R&D companies can stay ahead of

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