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Riordan Benchmarking Essay

4829 words - 19 pages

Riordan Benchmarking Paper PAGE \* Arabic 1
IntroductionMany companies have taken that large step into conducting an initial public offering (IPO) because of the growth benefits for the company; however, many companies are at risk of losing key leadership players because they believe they will not be working for the clients, but to please the shareholders. Can a private owned company make the smooth transition into an IPO without losing key players? In order to minimize mistakes and to ensure a smoother transition towards the IPO, Riordan Manufacturing Company must benchmark other organizations that faced similar circumstances, situations, and goals. In each team member's individual analysis the following is discussed: problems and issues faced by each company, how each company responded to the issues, and the outcome of the strategies the companies used. The practices of each company was analyzed, compared and contrasted in relation to key course concepts discussed in this class. The companies benchmarked are Consolidated Container Company, Roanoke Trade International Insurance Brokers, Bank of America, Wachovia, General Motors, Hewlett Packard, Sprint and AT&T.Company SynopsisConsolidated Container CompanyConsolidated Container Company (CCC) is a manufacturer and plastic containers and provides these containers to some of the biggest brand named consumer products in the world. Products like Head and Shoulders Shampoo, Aunt Jemima Pancake syrup as well as some beverage containers are all made by CCC. Some of CCC's commercial customers are Dean Foods, DS Waters of America, The Kroger Company, Nestle Waters North America, The Procter & Gamble Company, Exxon Mobil, Scotts and Colgate-Palmolive. (Business Wire 2006). The organization creates over 7 billion plastic containers a year for companies who sell dish soap, laundry detergent and other cleaning products. The company not only provides products but customer services (CCC 2009).In the past few years CCC has acquired several companies which have created some of the same types of issues Riordan has experienced. With the integration of these companies CCC has found an issue with customer service and interdepartmental communication. All the departments at CCC; finance, production, operations, quality control and customer service must work together sharing information to assist customers. The company has adopted a new strategy which uses a one solution approach. CCC chose to use an IT product that can track consumer and retailer comments. In addition the process allows the organization to track buyer suggestions which aids in improving customer service, as well builds stronger with vendors. Dave Kellogg, senior group vice president, worldwide marketing states, by using the one solution approach to get an integrated view of the business, CCC can seize opportunities to improve customer and partner relationships, cut costs, and improve operational efficiency (Business Wire 2002).Just as...

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