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Situation Analysis and Problem Statement: Riordan Manufacturing Corporation

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Situation Analysis and Problem Statement

Imagine being Chief Executive Officer of a Fortune 1000 company with projected annual earnings of $46 million dollars and revenues totaling in excess of one billion dollars. However, the company has operated from a status quo position for years, you find that your company sales revenue is quickly declining, profits are uneven, and the ability to retain staff is being negatively impacted. As Chief Executive Officer it is your duty to turn the company 's situation around so as to not loose any ground in the industry. This is precisely the situation that Riordan Manufacturing is currently facing. How would you go about resolving the myriad of problems at hand without losing anymore profits …show more content…

Stakeholder Perspectives/Ethical Dilemmas The employees and customers who depend on Riordan Manufacturing are the stakeholders who will be impacted the most, should the company not address the issues that are causing the decline in company 's profits. From the customer 's point of view, if Riordan Manufacturing is not serving their complete needs, there is no reason for the customers to purchase products and services from the company. Employees are the key to a successful company; therefore, if employees are concerned with their compensation and benefits he/she will not work up to his/her full potential.

This type of behavior will significantly impact the company 's ability to generate profits. Some ethical dilemmas that may arise can be a direct result of lack of proper focus, incentives and rewards. This issue can lead to personality conflicts between frontline employees and middle to upper management. This type of ethical dilemma can lead to a collapse of the staff driven infrastructures. From the customer 's perspective, if his or her sales needs are not being met appropriately it is likely that customer will turn to Riordan 's competitors for the same goods and or services. A reduction in staff and or lost of sales volume can severely impact the bottom line profits of the company, which will directly impact the profitability of the investors. Any person considering

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