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Strategic Plan Development Riordan Manufacturing Essay

1520 words - 6 pages

Strategic Plan Development PAGE \* Arabic 1
Running head: STRATEGIC PLAN DEVELOPMENT PAPERStrategic Plan DevelopmentRiordan ManufacturingStrategic Plan DevelopmentThe development of a firm's strategic plan is essential in identifying the firm's mission, vision, and strategic objectives necessary to ensure company's position in the industry. A strategic plan increases a firm's competitive advantage by defining the firm's business objectives and 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, the Department of Defense, beverage makers and bottlers, and appliance manufacturers" (UOP, 2008).The objective of this paper is to identify and analyze the strategic plan of Riordan Manufacturing. In addition, the paper will discuss the role of TQM in Riordan Manufacturing's strategic plan. The vision, mission and strategic objectives of Riordan Manufacturing will be discussed, along with the TQM's part in the company's strategic objectives and the impact on TQM brought by globalization.Riordan Manufacturing Mission, Vision and Strategic Objectives"Riordan Manufacturing is a Sigma Six, ISO 9000 rated industry leader in the field of plastic injection molding with state-of-the art design capabilities and a cutting edge research and development department (Riordan, 2006)." Riordan Manufacturing is concentrating their efforts in expansion across the globe by generating and maintaining reasonable profits to ensure the success of the organization in all future business ventures.Riordan Manufacturing's objective is to provide high quality products and services at a reasonable cost by focusing on attention to detail and extreme precision in every product they produce. Riordan Manufacturing is obsessed with finding a better way of achieving production goals. This obsession involves not only production methods; it includes their processes of thinking and means for creating and maintaining long-term relationships with their customers.Total Quality ManagementTotal Quality Management is a way that management and employees can become involved in the continuous improvement of the production of goods and services. TQM is a mixture of both quality and management tools that focus on increasing business and reducing losses due to wasteful practices (Hashmi, 2008). Riordan believes in doing things right the first time, every time. The key principles that Riordan follows to ensure TQM is integrated into their organization is Management Commitment, Employee Empowerment, Fact Based Decision-Making, Continuous Improvement, and Customer Focus.Quality is a primary goal of Riordan and all...

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