Riordan Manufacturing and Strategic Planning Essay

1905 Words8 Pages
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.

Strategic Plan Reasoning
A strategic plan will maximize Riordan’s resources to achieve its business objectives and maximize its value. For Riordan to have a successful strategic plan it is best for the company to
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Riordan needs to continue to see company growth through product innovation, financial and human capital in order to remain competitive.

Role of Ethical and Social Responsibility Social and ethical responsibilities play an important factor in Riordan’s strategic management plan. Employee and labor relations are a vital part of Riordan’s success. Currently, all of Riordan’s facilities are non-union facilities, and employee relations are the human resources department responsibility. Riordan Manufacturing has legal counsel to handle all legal matters in relation to tax law, real estate transactions, employment law, immigration matters, civil litigation, workers compensation, labor law, and customs regulations. Having a legal team available to Riordan at all times ensures they are in compliance with laws in both domestic and foreign markets and should any additional legal issues arise. Riordan owns 60% of a joint venture facility in Hangzhou, China, where plastic fan parts are produced. Riordan has a responsibility to provide safe working conditions, and ensure they limit their environmental impact. Riordan is also responsible for paying proper living wages to its Chinese employees. When operating in a foreign market there are social and cultural differences Riordan addresses. Bribes are considered acceptable in many cultures. Riordan follows the law however; American law

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