Riordan Manufacturing’s success is due to their industry-leading plastic molding. Riordan creates plastic products ranging from plastic bottles and fans to heart valves and medical stents. The company was founded by Dr. Riordan, a professor of chemistry, in 1991. Under the name of Riordan Plastics, Inc. the company’s initial focus was the research and development of their original plastic products. In 1992, Dr. Riordan purchased a fan manufacturing plant in Pontiac, Michigan which was a stepping stone to the 1993 expansion into the production of plastic beverage containers. Since the changing of the company name to Riordan Manufacturing, Inc. in late 1992, success has followed each expansion they have
The role of ethics and social responsibility aids organizations in developing a strong strategic plan, while addressing the needs of stakeholders. Ethics and social responsibility require social awareness to address the needs of the environment and to increase the knowledge of employees, which will lead to a corporation focused on supplying the customer with what is needed, managers equipped with solid decision-making abilities, and employees who believe that he or she are an asset to the business. It is the executive manager’s responsibility to establish a clear vision for the corporation and place a specific focus on understanding stakeholder’s needs. In an effort to support
Riordan Manufacturing is a global plastics producer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Recently, Riordan made several strategic changes in the way it manufactures and markets its products. Because of declining sales and uneven profits over the past two years, Riordan adopted a customer-relationship management (CRM) system. Primarily sales teams instead of single salespeople, with each team focusing on a particular customer segment, now service customers. Teams typically include a sales person, product engineering specialist and customer
• Explain the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs.
As a Fortune 1000 enterprise, and an industry leader in the field of plastic injection molding, Riordan Manufacturing, offers state-of-the art plastics design capabilities through its facilities in San Jose, California; Albany, Georgia; Pontiac, Michigan; and Hang Zhou, China. Currently, Riordan's COO, Hugh McCauley, and the executive team have requested changes to the current information system used to maintain inventory and manufacturing processes. Evaluation of current Sales, Inventory, and Manufacturing processes will be required as well as the evaluation of current hardware and software. The present networking system requires improvements and, thanks to today's technology can easily be
"Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion" (Apollo Group Inc., 2004).
A world renowned plastics manufacturer employing nearly 550 workers worldwide, Riordan Manufacturing Co. a leader in the industry of plastic injection molding, has more than $1 billion in revenue. With operations based in California, Michigan, Georgia, and China, review of current resources within Riordan’s business structure reveal numerous areas in need of redefining to improve operational efficiency company-wide. Implementation of this proposed strategic plan will address issues areas of improvement including
Strategic planning considered one of the important factors to be considered by organizations seeking to improve business and process within the current organization scope. Riordan Manufacturing Inc. has become a global leader in the area of plastic injection molding with state-of-the-art design capabilities. Currently Riordan Manufacturing Inc. is looking to develop and implement a strategic plan for the organization to improve process, operation, and procedures within the company’s day-to-day work load. Within this paper team C will discuss the reasons why Riordan Manufacturing needs to develop a strategic plan by elaborating on the following reasons: environmental scanning,
Although Riordan Manufacturing has a generic strategic direction, a comprehensive strategic plan reevaluation and development must occur after the move to China. Environmental scanning, strategy formulation, strategy implementation, evaluation, and control are fundamental to the creation of a strategic plan (Wheelen & Hunger, 2010). Because, strategic planning is integral to the corporate strategy and success of Riordan the board of directors' requesting Team B formulate a comprehensive strategic plan for their organization.
Riordan Manufacturing Inc. is in the field of plastic injection molding. A leader in plastics designs in many different areas, with state of the art capabilities in developing innovative products for their customers. The company was founded by Dr. Riordan, a professor of chemistry, working with processing polymers into high strength plastic articles. Dr. Riordan obtained patents and licensing to start manufacturing plastic fans in the plant at Pontiac, Michigan in 1992. This summary will cover Riordan’s mission, the four plant description, and the companies finance and accounting.
After 3 months of extensive research and analyzing Riordan’s business operations and practices, Apollo Enterprises is in a position to present a value-added business solution and recommendations, in an effort to render an efficient infrastructural environment and cost savings; presented respectfully to you, the Sr. Executive Committee of Riordan’s Manufacturing Systems.
Developing an ethical and socially responsible behavior plan is a critical requirement when starting a new business. Without the integration of concern at the very beginning of the planning process, as well as throughout the process, the organizational culture may not provide the checks and balances needed to develop ethical and socially responsible business programs. My plan should include how the community would be affect, social responsibility strategies, and ethical behavioral motivation in the workplace.
This paper will be an analysis of the issues currently affecting Riordan Manufacturing. Riordan is facing an overall issue with low employee morale and motivation for several reasons. Changing its business strategy to team sales and support versus individual sales and support left Riordan with a compensation package not aligned with rewarding a team strategy. Desiring to remain a top player in the market Riordan needs to address several issues with performance review analysis and training implementation. An analysis of stakeholder perspective and ethical dilemmas, goals, mitigation, and implementation of alternative solutions for the problems facing Riordan will be discussed.
In reviewing the current and historical sales and marketing information for Riordan Manufacturing, Inc., it became clear that there is a need for a new streamlined system to track the past and present workings of the company. There are past marketing plans being stored in one location in a file cabinet, limiting the personnel that has access to it (Riordan Manufacturing, Inc., 2012). Sales employees are using different methods to track their numbers, in some cases using pencil and paper (Riordan Manufacturing, Inc., 2012).
Ethics ensure that a company achieves its mission, vision, goals, and objectives in such a manner that they give a company a sense of direction and framework. Ethics ensure guidelines are creating that bind the entire organization into one common thread, govern the action of the organizational employees, and avoid deviation from the desired strategic path. Five ways a company can ensure ethics is including in their strategic planning are