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STR 581 W4 Making Strategic Decisions


STR 581 W4 Making Strategic Decisions fin571

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STR 581 W4 Making Strategic Decisions
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This 0 page Study Guide was uploaded by an elite notetaker on Wednesday November 11, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 22 views.

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Date Created: 11/11/15
Running Head MAKING STRATEGIC DECISIONS Making Strategic Decisions University of Phoenix International Strategic Planning and Implementation STIUGMS 81 Making Strategic Decisions 2 Abstract In today39s business environment there is constant pressure for companies to maximize productivity to be competitive in the market Many companies operate a series of activities like production and product development countries with low labor costs This includes opening sales channels in many markets The resulting global organizations need to put the structure that enables them to effectively manage its activities in many places Making Strategic Decisions Making Strategic Decisions 3 In this paper I will examine how the organizational structure of a global society in uence decision making at the regional level and how it can affect performance This document will determine whether the corporate structures of the centralized and decentralized business decisions based on different cultural values in the region explore ways to evolve from an autonomous structure with a central in uence regional performance and consider how this global company can determine the decision making responsibility that balances on a code of professional ethics Company Background Riordan Manufacturing is the world leader in plastic injection molding With more than 550 employees and annual sales expected to total 46 million Riordan manufacturing to ensure success in sales and marketing focus to obtain additional contracts and maintain good relationships with existing customers University of Phoenix 2009 Although the company has achieved to date it is always important and necessary to continually improve and take the company to the next level to remain competitive in today39s world especially through international expansion Everybody wants to be the best at what they do especially in the area they represent To obtain this status it is important for Riordan Manufacturing to evaluate and establish a new benefit that will give them the status they seek to achieve Riordan Manufacturing is using a business strategy that combines product differentiation and market segmentation to positively impact both sides of the supply and demand chain Riordan will move their operations to from China to Shanghai within the next five years into the strategic planning of Riordan Manufacturing and Riordan Industries so that value Making Strategic Decisions 4 creation can be maximized Riordan is preparing to reconstruct the Hangzhou plant to mirror a plant within a plant PWP strategy and be able to save on production costs Given that Riordan Manufacturing s customers are composed by corporations and government sectors that purchase in bulk to satisfy consumption needs they eXpand the consumer market to gain competitive advantage over others in the industry Barney 2007 Riordan has implemented new procedures and the company will be offering customization to the current loyal customers can give the industry a competitive advantage against its competitors The company will begin to offer brand recognizable products to distinct them from the competitors in the market This will help increase the customer loyalty and attract new customers Structural and leadership The skills of decision makers is their ability to critically evaluate market conditions for the present and future value of an investment and make rational decisions based on the nature of its operations and activities Riordan has a group of skilled workers in charge of the manufacturing process This company encourages employees to be leaders and to motivate others into learning new things and getting involved in the company s activities Company 5 Structure The structure of a company can be very compleX and has much to do with how tasks are accomplished To be successful the company needs to participate in critical thinking and decision making model In the company many people is arranged in a hierarchy model This company has adopted a functional structure where every person is divided by the skills and departments he she belongs A chart showing the organizational structure is followed Making Strategic Decisions 5 t Logistic Warehous Administrativ e Clerical Skilled workers The president of the company is on top of the chart followed by management and the company s executives who oversee the different managers These managers receive support from the administrative department in charge of processing orders greeting clients and more The skilled workers are in charge of the manufacture of the products Making Strategic Decisions 6 Recommendations The ability to identify weaknesses and areas for improvement or may be the best way to develop a good set of objectives Although currently the main title in the field it is important to recognize that the amendments should be made to continually defend this title Rationalization and standardization of the body is an important task to improve product quality and product image is Riordan industry and customers and their customers Furthermore it is always necessary to introduce new products and can market these products in the most efficient way Yip 2003 Here Riordan s customers are an essential part of the solution offering the best product with the best customer service The implementation of partnership shows that the market recognition of teamwork is essential to the success of any business and be the best Conclusion There comes a time in everyone39s life a company or organization in which decisions should be taken The decisions we take can have a significant impact on the longevity of the organization Reviewing and evaluating eXisting and potential problems that affect how decisions are made within an organization is essential Strategic decisions are different from other types of decisions because they are large long term resources surrounded by uncertainties Strategic decisions are rare and typically have no precedent to follow are important resources and require a big commitment at all levels Moreover strategic decisions are based on the model of all decisions and future actions Riordan has implemented a solid combined strategy that will help the company retain their customers and gain a competitive advantage through product differentiation ultimately bringing more customers to the company Making Strategic Decisions 7 References Barney J B 2007 Gaining and sustaining competitive advantage 3rd ed NJ Pearson Prentice Hall University of Phoenix 2009 Riordan Manufacturing Virtual Organization Retrieved from STRGM 581 Materials Page Yip G S 2003 Total global Strategy II 2nd ed NJ Prentice Hall


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