Virtual Organization Strategy Paper: Riordan Manufacturing

1443 words - 6 pages

IntroductionRiordan Manufacturing is a global plastics injection molding company, employing 550 people with estimated annual earnings of $46 million. Dr. Riordan, a professor of chemistry, who had obtained several patents relative to processing polymers into high tensile strength plastic substrates, was also the founder of Riordan Manufacturing. Sensing the commercial applications for his patents, Dr. Riordan started Riordan Plastics, Inc. in 1991. Owned by Riordan Industries, which is a fortune 1000 company that has revenue of over $1 billion. They have three production plants; a plastic beverage container facility located in Albany, Georgia; a custom plastic parts division located in ...view middle of the document...

Presently, the financial reporting is performed inaccurately and inefficient which could result in fines and loss of revenue.The Riordan Manufacturing needs investors to increase the capital to purchase more equipment and increase production. The company has a reputable record with the products produced and this allows marketing to expand. The IPO's would give Riordan strength by increasing the capital needed to expand the business and production. The company would need to invest in outside auditors and internal auditors to review the financials investments are handled properly. The purchase of an enterprise system to monitor financial reporting, line efficiency, and expansion of products could take the company to the next level.The weakness Riordan to use IPO's would be not to comply with the Sarbanes-Oxley due to documentation and auditing a business to standards. The SOX compliance focuses on corporate officers, financial reporting, and verification of data. Riordan will need to change the IT programs and improve compliance performance immediately. The Management staff will need to review all expenses and to determine the direction for the company.Acquiring another organization in the same industryAn acquisition is known as a takeover or a buyout. An acquisition is the buying of one company by another. Riordan Manufacturing can acquire a related company to raise capital and public awareness. Acquiring another company that operates in the same industry can have numerous advantages. Through an acquisition, a company can grow faster and it reduces competition in that industry. Another advantage for Riordan Manufacturing to acquire another company can also give them control over other company's products and services and establish itself as the new owner. By acquiring another company, Riordan Manufacturing can have the advantage of becoming larger and have additional market share. This will also strengthen the company's internal structure and grow in size. Another advantage for Riordan Manufacturing acquiring the purchase of a company in the same industry is also to find companies in different geographic areas that way this move can increase in the volume of business in different locations and provide a gain in profit.With all the advantages of acquisitions, there is also some disadvantages and weaknesses of acquiring other companies. One disadvantage of Riordan Manufacturing can face while acquiring another company in the same industry is the clash in culture and ethics differences among the different type of businesses. When two separate companies come together as one, there can be many differences in how each business handles things, which can cause weakness in the general transition. By acquiring another organization in the same field, Riordan Manufacturing must carefully weigh the weaknesses as well as the strengths of an acquisition.Riordan and MergersAn important initiative expressed by Riordan Manufacturing is to establish and...

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