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MGT/498 Riordan Strategic Plan - University of Phoenix

This assignment focuses on creating a strategic plan for Riordan Manufacturing, addressing key business objectives and strategies for success.

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    Riordan Strategic Plan 1 MGT/498 Riordan Strategic Plan - University of Phoenix How can Riordan Manufacturing's strategic plan, focusing on innovation, ethical responsibility, and competitive advantage, help the company maintain its leadership in the plastic injection molding industry? Discuss the key components of the plan and their implementation in 700 - 800 words.

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    Riordan Strategic Plan 2 Riordan Strategic Plan MGT/498 University of Phoenix

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    Riordan Strategic Plan 3 Riordan Strategic Plan Strategic planning is the process of developing strategies for a business to achieve the greatest success possible with the best information currently available. The idea is to build a solid structure and plan of action to meet the objectives of the business. Additionally, a strategic plan focuses on the necessary guidelines the plan must have to ensure the organization meets set objectives. In connection, Riordan Manufacturing, Incorporated is a leader in the industry of manufacturing products by plastic injection molding. Riordan is a leader in the industry because the organization pays strict attention to detail and quality control. Riordan also creates innovative designs with extreme precision to meet a vast array of customer needs (University of Phoenix, 2004). The strategic plan for Riordan Manufacturing, Incorporated will take the company from its current state to where the business needs to be. Furthermore, the strategic plan will guide the company and create step - by - step instructions to ensure the organization meets set goals, which will help the organizations visions become a reality. Need for a Strategic Plan Strategic planning is particularly effective at identifying new opportunities for growth and in ensuring every manager has the same goals (Wheelen & Hunger, 2010). As previously mentioned, Riordan is the leader in global plastics manufacturing with its major customers coming from the automotive, aircraft, Department of Defense, beverage bottling, and appliance fields. With a vast array of clients who are always searching for the newest and most innovative products to launch into the market, clients rely o n Riordan to supply the best. With the high expectations that come from the customer’s it is imperative Riordan remains vigilant in

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