I HAVE HIGHLIGHTED MY PORTIONS
Team Paper Resources: Riordan Virtual Organization, Concepts in Strategic Management and Business Policy, and Competitive Advantages Paper
Scenario: The board of directors for Riordan Manufacturing has asked your team to create a strategic plan for the organization.
Create a 2,500- to 3,500-word strategic plan for Riordan Manufacturing starting from what you learned in Week One and using a similar strategic management process as Concepts in Strategic Management and Business Policy. Utilize Model 1 Template. This is worth 2 points. Submit this as a separate file and you can also use it in the PP presentation. Balance Scorecard is worth 1 point, Financial Statements worth 1 point.
You may also use information from the team project you completed for Riordan Manufacturing in Week Four to create the strategic plan. Be sure to cite the W4 paper if you use that content.
Cover thoroughly the areas of environmental scanning:
Include basic information on current economic indicators (inflation, cost of debt, global growth in manufacturing, legal issues, etc.
strategy formulation, textbook theory
strategy implementation, textbook theory
and evaluation and control. textbook theory
Address the following questions in your strategic plan:
- Why does Riordan need a strategic plan? 1pt Ch 1
- What role should ethical and social responsibility considerations have in Riordan’s strategic management plan? 1pt
- What competitive advantages does Riordan have, and which competitive strategies should Riordan utilize to improve innovation and sustainability in both domestic and international applications? WK 4 LT Assignment (2 pts) Ch 5.1 VRIO to assess capabilities and competencies
- What measurement guidelines should be used to verify strategy effectiveness? ( 1 pt)
- What internal dynamics along with cultural and structural leadership considerations should be used in implementing business strategy for Riordan? Ch 9 & 10 ( 1 pt)
- How do they influence business continuity? Ch 10(1 pt)
- What assessment and feedback controls should be used to determine the direction to take Riordan?
- (1 pt) If the strategy of Riordan does not go according to plan, at what point would you consider altering the strategic plan you have suggested? (1 pt) Ch 11
Explain and justify all of the decisions you have made for your strategic plan, using research and understanding learned from the reading material.