Riordan Manufacturing Company Benchmarking Essay

3990 words - 16 pages

As per the course scenario (Scenario: Riordan Manufacturing, 2007) Riordan Manufacturing has had to make several strategic changes in the way it manufactures and markets its produces due to a decline in sales and fluctuation in profits over the last two years. The loss in revenue has made Riordan rethink their sales process and the decision was made to adopt a customer-relationship management (CRM) system. This paper will present benchmarking examples that offer some possible alternatives and solutions to assist Riordan in the process. Topics of discussion include the importance of Human Resources and Strategic Business Alliance, Corporate Culture and Leadership, Leadership and Organizational Behavior, Incentive and Organization Behavior, Employee Motivation and Reward, and Employee Retention Strategy. Benchmarking examples will support human resources role in directing changes within Riordan through organizational effectiveness and capabilities.Topic 1: Human Resources and Strategic Business AllianceCapital One Financial CorporationVoted one of the top 100 companies to work for by Fortune magazine for three consecutive years, 84th for 2007(Levering, Moskowitz, 2007) credit card company Capital One Financial Corporation works closely with their human resources department to support its growth goals and business strategy. David Liberson Vice President of Human Resources joined Capital One's human resources department shortly after it had spun off from a small bank. His view on HR support to the new venture was people focused "The best way to meet future people-needs is to hire the right people in the first place". Liberson had his work cut out for him as over the next several years the company experience growth rates at an annual average of 40 percent. The rapid growth had human resources managing an increase in employees from 2000 to 20,000 in just a few years. That kind of growth cannot be achieved if an organization remains static. "I think we have an inflection point now that says in order for us to maintain and build upon the success of the past, we have to learn new ways to remain small and nimble in a big-company body" says Liberson of Capital One's continued growth. (Delahoussaye, 2001) Riordan Manufacturing (Scenario, 2007) has become complacent and does not effectively use human resources to support business growth. Riordan's leadership needs to look at its business strategies and align them with human resources utilization if it is to achieve growth in its ever more competitive marketplacesCapital One focuses part of its HR strategy to support company growth through managing employees careers so that people can take on broader responsibly, succeed and become partners. People are not transition out of the organization but instead Capital One employs a method of internal development Liberson calls its "Darwinism at work" (Delahoussaye, 2001) At Capital One they continually identify individuals who can lead large groups and internalize the...

Find Another Essay On Riordan Manufacturing Company Benchmarking

Riordan Problem Solution Essay

1011 words - 4 pages Problem Solution: Riordan Manufacturing Riordan Manufacturing is a global plastics producer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Production is divided among three plants: plastic beverage containers in Albany, Georgia; custom plastic parts in Pontiac, Michigan; and plastic fan parts in Hangzhou

Planning and Controlling the Supply Chain Paper

942 words - 4 pages and shipping costs. General and administrative expenses for the 2005 operating budget is $1,812,000 with Machining and systems expenses at $654,000.The value of the dollar will decline, marginally improving export opportunities. The labor market should strengthen and this will result in larger payrolls nationally and higher labor costs for Riordan Manufacturing, but also will support consumer spending. Riordan's budget for direct labor was an

ERP for Riordan Manufacturing: Project Planning and Implementation

2369 words - 9 pages ERP for Riordan PAGE \* MERGEFORMAT 1 ERP for Riordan ManufacturingRaymond McDonald, Andy Cagan, Fernando Amorim, Chris Cortez, Dean ParmenterDr. Ronald BlackCMGT/410 Project Planning and ImplementationERP for Riordan ManufacturingBackground and Statement of NeedRiordan Manufacturing, Inc. is an industry leader in the field of plastic injection molding. With facilities in San Jose, California, Albany, Georgia, Pontiac, Michigan and Hangzhou

Riordan Problem Definition Riordan Manufacturing

1602 words - 6 pages concentrated mainly in the practices of the sales, they being force to adopt a new strategy called customer-relationship management (CRM) system. Riordan has another issue with the redistribution of work in the manufacturing plant in China. Too many employees are leaving the company because of the restructuring of the plants in a self-directed work team. Some plants that they reconstruct must take happened to an approach of equipment self-directed

Bechmarking: Riordan

1123 words - 4 pages outcomes most valued by employees. Not surprisingly, it seems that financial rewards have high valence for most employees" (Dreher, & Dougherty, 2001 pg 37). Conclusion Benchmarking or reviewing industry standards in the way certain programs or initiatives are handled and selecting from the successful ones can lend an advantage to companies. Riordan Manufacturing can become a leading employer if it implements a premier employee rewards

Riordan Problem Solution

3664 words - 15 pages Problem Solution: Riordan ManufacturingRiordan is a plastics manufacturing company that has recently made several changes in the way it manufactures and distributes products. The company recently implemented a Six Sigma quality approach and is now ISO9000 certified. This has changed the processes and procedures in the way goods are manufactured. The company has also adopted a new team approach to sales, in order to better facilitate the needs of

Riordan Benchmarking

4829 words - 19 pages process was not fully completed before the decision to merge. Sprint should have seen that Nextel was too big a company with too different a culture to merge successfully. This shows there exists right and wrong ways to benchmark, and this shows how critical benchmarking is before considering the 9-step problem-solving model. Both are necessary for successful business transitioning. This is something that Riordan Manufacturing could very well take


1288 words - 5 pages Businesses face various challenges when conducting business with foreign countries. Businesses must be aware of the different rules and regulations in the international environment. Today more firms than ever are earning some of their revenue from international operations. Riordan Manufacturing is a global plastics producer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a

Problem Solution: Riordan Manufacturing

5132 words - 21 pages Problem Solution: Riordan Manufacturing PAGE \* Arabic 22 Running head: PROBLEM SOLUTION: RIORDAN MANUFACTURINGProblem Solution: Riordan ManufacturingThomas D'AmoreUniversity of PhoenixProblem Solution: Riordan ManufacturingIn order for any company to gain competitive advantage over other companies in the same industry, it is important that the management team understands the importance of improving business results through people. Employees

Riordan Problem Solution and Defense

4600 words - 18 pages Problem Solution: Riordan PAGE \* MERGEFORMAT 10 Running head: PROBLEM SOLUTION: RIORDANProblem Solution: RiordanJanie LundayUniversity of PhoenixProblem Solution: RiordanRiordan Manufacturing, Inc (Riordan) is an industry leader in the field of plastic injection molding and global plastics manufacturer, wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. The company employs 550 people with

Strategic Plan Development Riordan Manufacturing

1520 words - 6 pages outlining necessary steps to achieve the firm's goals. Strategic planning is critical to the long-term success of the firm.Riordan Manufacturing is a company wholly owned by Riordan Industries, Inc., a Fortune 1000 enterprise. Riordan Manufacturing is a global company manufacturing products that include plastic beverage containers and plastic fan parts. The company's major customers are "automotive parts manufacturers, aircraft manufacturers

Similar Essays

Generic Benchmarking: Riordan Manufacturing Essay

5508 words - 22 pages put the plan into action.Riordan Manufacturing management team can use the practice of generic benchmarking to find companies with similar problems, exam their solutions and employ the practices that made those companies successful. With the results of the independent surveys, this should allow Riordan Manufacturing to narrow their research for best practices to the areas of most concern. Riordan Manufacturing will be able to compare their current

Strategic Quality Management And Customer Satisfaction Paper

1038 words - 4 pages and develop and implement procedures to gather and report feedback from a wide range of stakeholders, and support all units within the organization in audit, review and benchmarking processes.Riordan Manufacturing, Inc. is an industry leader in the field of plastic injection molding. With state-of-the art design capabilities, we create innovative plastic designs that have earned international acclaim. With facilities in San Jose, California

Strategic Plan Development Essay

1332 words - 5 pages professor by the name of Dr. Riordan. Riordan strives to provide longterm relationships with their customers as well employees. Riordan employees operate in an environment that is viable, innovative and offers progressive technology. Riordan is proud to be the plastic injection-molding leader in the field. Total Quality Management control is the trademark of Riordan Manufacturing.Review and SummaryRiordan Manufacturing Company is in the field of

Virtual Organization Strategy Paper

1094 words - 4 pages Riordan Manufacturing, Inc. is a giant in the industry of plastic injection molding, with annual earning each year of $46 million. Their company employs state-of-the-art design capabilities in order to create innovative plastic creations worthy of international praise. They apply careful attention to detail, using extreme precision and quality control, which are all hallmarks of Riordan Manufacturing. The company has several bases in the United