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...

Find Another Essay On Virtual Organization Strategy Paper: Riordan Manufacturing

Virtual Organization Strategy Paper

570 words - 2 pages Hispanic country in the world. In the 2000 Census, 35.5 million people identified themselves as Hispanic, making Hispanics the largest minority in the U.S. (Scanlin, K. 2008) Therefore, the Hispanic group must be considered as a positive asset to any business. By expanding the Kudler Fine Food's organization would pose the need to add Spanish speaking employees to cater to the needs of the Hispanic group.References(S. Kathy, 2008) Diversity Strategist , NAS Recruitment Communications. Why can't we just say it en Espanol? Retrieved on February 3, 2008 from:http://www.nasrecruitment.com/MicroSites/Diversity/articles/featureD8.html

Virtual Organization E-Business Paper

736 words - 3 pages Virtual Organization E-Business PaperBUS/415David C. Cory, J.D.May 14, 2007Virtual Organization E-Business Paper"Riordan Manufacturing is a global plastics manufacturer 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". (University of Phoenix rEsource) To reach there Riordan Manufacturing's sales goal they will

Strategic Plan Development Paper - Riordan Manufacturing

1285 words - 5 pages IntroductionIn this paper our learning team will evaluate the strategic plan for Riordan Manufacturing. We will evaluate the role that Total Quality Management has at the strategic level; including the mission, goals of the organization and the organizational objectives. In addition to that, the team will look at and develop a long term strategy for globalization for Riordan Manufacturing. Further, we will look at the complexity of Total Quality

RIORDAN MANUFACTURING PAPER - UOP CIS/319

2345 words - 9 pages Riordan Manufacturing PaperRiordan Manufacturing has grown from a small plastics research and development firm to a multinational plastics manufacturing power in the brief span of 14 years. This growth has seen Riordan expand their operation to multiple manufacturing and distribution points across North America and China. Riordan now services over 32 customers of varying size, including automotive parts manufacturers, aircraft manufacturers, the

Virtual Organization E-Business Paper: Smith Systems Consulting

1355 words - 5 pages AbstractThis Virtual Organization E-Business Paper will focus on Smith Systems Consulting. As Smith Systems expands, it will increasingly conduct e-business on an international basis.As such, this paper will address the following:a. Analyze the legal issues that the company may face when conducting ebusiness and discuss possible solutions; andb. Identify issues that may arise in the company's international business and discuss the conflicts of

Virtual Oragnization Strategy paper

1167 words - 5 pages 5th largest Hispanic country in the world. In the 2000 Census, 35.5 million people identified themselves as Hispanic, making Hispanics the largest minority in the U.S. (Scanlin, K. 2008) Therefore, the Hispanic group must be considered as a positive asset to any business. By expanding the Kudler Fine Food's organization would pose the need to add Spanish speaking employees to cater to the needs of the Hispanic group.To expand the operations of

Virtual organization E-business paper

686 words - 3 pages Within the international trade disagreements are often common. When to companies from different countries decide to do business it is in their best interest to make sure they are protected legally in their best interest while making sure it's enforceable.UOP set up a hypothetical company dealing with international problem. The US Company is called CadMax Pharma and is based in Tampa Florida. They partner up with a company called Gentura which is

Virtual Organization Employment Law Paper

727 words - 3 pages Organization Employment Law PaperBUS/415May 28, 2007Virtual Organization Employment Law PaperHuffman Trucking was founded in 1936 by K. Huffman, a native of Cleveland, Ohio. Huffman started the company with a single tractor-trailer. The growth of Huffman Trucking was the direct result of World War II and the increased demand for carrier services between factories in the Midwest to ports on the East Coast. The fleet had increased in size to 16

Strategic Plan Development Riordan Manufacturing

1520 words - 6 pages Manufacturing - Virtual Organization. Retrieved November 21, 2008, from https://ecampus.phoenix.edu/secure/aapd/CIST/VOP/Business/Riordan/RioMfgHome002.htmWadsworth, H.M., Stephens, K.S., & Godfrey, A.B. (2002). Modern Methods for Quality Control and Improvement, 2nd ed. New York, NY: Wiley

Riordan Problem Solution

1011 words - 4 pages introduces an overview of situational analysis, issues and opportunities and end-state vision of Riordan Manufacturing Company that is facing employees, lower job satisfaction and increased turnover. The current management team focuses on increasing employee motivation and rewards for encouraging workforce environmental performance. The organizational structure of Riordan needs to rapidly change the new strategy by realizing that their existing plan

Strategic Quality Management and Customer Satisfaction

1940 words - 8 pages that the financial and human capital is available for sustained growth" (University of Phoenix, 2006, Riordan Manufacturing Virtual Organization).A strategic plan "established a direction for the enterprise and is a means of communicating that direction to all who should know it" (Burrill & Ledolter, 1999, 295). As Jonathan Vila stated in his week three responses to discussion question one, (Feb.15, 2007) "The strategic plan is to produce the

Similar Essays

Riordan Manufacturing Employment Law: Virtual Organization Employment Law Paper

814 words - 3 pages AbstractThis assignment consists of reviewing information on Riordan Manufacturing, referencing facts and applying legal theories to the facts. Although there are several potential areas for concern, I have decided to address two distinctive types of potential discrimination that may occur, based on my research and evaluate ethical and legal duties that a manager has and include different cultural practices if any apply. These two types of

Virtual Organization Strategy Paper

1094 words - 4 pages difficult, the process is very complex, with many dimensions influencing the outcome and an acquisition would leave Riordan Manufacturing as an empty shell. A merger would not ensure the success of the resulting organization, overlapping subsidiaries or redundant staff maybe allowed to continue and shareholder value would have to increase faster than if the companies were separate.Opportunities of the three options include: an IPO would make it

Virtual Organization Strategy Paper

1457 words - 6 pages Huffman Trucking was established in 1936 and developed its business throughout the eastern United States. They have recently expressed a desire to expand the business and they are reviewing several options. This paper will provide a SWOT analysis on three expansion strategies including the release of initial public offerings, the acquisition of another firm, and a merger with another firm. Each strategy will offer advantages and disadvantages

Virtual Organization Memo (Riordan Manufacturing) Essay

647 words - 3 pages reporting requirements at the consolidated level is difficult at best. Riordan Enterprises finds the situation unacceptable and has mandated a solution or alternative be recommended, which is where I can be of assistance. While this situation is transparent to customers and suppliers, it still has to be resolved.Riordan Manufacturing currently has an after tax net profit of $1,990,495. Their total operating expenses totaled $5,318,115. Their sales