Strategic Plan Riordan Manufacturing is a mid-size American company that was founded in 1991, employs 550 state and has projected annual earnings of $46 million. Riordan has ternary manufacturing locations, two in the United States and one in China. Riordan understands the vastness of strategicalal planning and will lay out their reasoning in this paper. Competitive advantages, sustainability, innovation and ethical and social responsibilities will be addressed, as well as cultural and structural maven and assessment and feedback controls. Riordan Manufacturing, Inc. needs strategic plans because Riordan Manufacturing, Inc. is like any new(prenominal) tune enterprise organization; divided into two governing sections of melodic post operations a counseling section and a utile section. Strategic planning is conceptual, pragmatic, and can deliver the highest and best results for business decisions and practices. Strategic way is a set of managerial decisions and acti ons that determines the long-run performance of a corporation (Wheelen, 2010, p. 4). Strategic management possesses quartette phases that are designed to have business managers focus on internal, external, and overall policy implementation of their management systems.
The four phases of strategic management are financial planning, forecast based planning, externally oriented strategic planning, and strategic management (Wheelen, 2010). The strategic management approach was developed to assist large corporations that participate in more than one industry; this approach assists management in creating and maintaining a compe titive advantage, reduces risk, reduces erro! r, and might prevent economic victimize of a business organization. Riordan Manufacturing, Inc. can benefit from developing a strategic management system because Riordan Manufacturing, Inc. was Riordan Plastics, Inc. and are currently in operation(p) in more than one industry, market, and country. Riordan Manufacturing has more than just a fiscal or legal...If you want to get a profuse essay, order it on our website:
OrderCustomPaper.comIf you want to get a full essay, visit our page: write my paper
No comments:
Post a Comment