Strategic Plan Management

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Strategic Plan Development Riordan Manufacturing is a global fortune 1000 company and the world largest plastics manufacturer. The company’s main mission is to be the leader in innovation by focusing on research and development. In the past the company has been the first to identify industry trends and will continue to do so in the future by spending above and beyond the competition on research and development (Riordan Manufacturing, n.d.). The company is also focused on building and preserving its relationships with customers at the same time being a responsible partner with local communities to improve the quality of life for all. Riordan Manufacturing has pledged to have the most innovative work for in the industry and will continue to do so by providing the best available training possible. Riordan Manufacturing has a two year strategic plan to produce 50 million dollars of revenue. This plan has two segments, increase sales from existing customers and attract new customers. The company has projected that existing customers will account for 60% of the 50 million dollars of revenue; therefore, the company plans to dedicate more resources to understanding the needs of the existing customer base. The company also plans to attract new customers through an increase in advertising spending, tradeshows, discounts, and promotions. The company’s strategic plan also includes a greater global presence. The company has opened factories in China and has plans to open distribution centers in Europe and Asia. Riordan Manufacturing believes that the current move by most countries to a more globalized economy will contribute to the company’s grow and success. By focusing on emerging markets now, Riordan Manufacturing c... ... middle of paper ... to leverage diversity at any time. References Burrill, C. & Ledolter, J. (1999). .Achieving Quality through Continual Improvement. John Wiley & Sons Retrieved November 15, 2008, from University of Phoenix E resource International Organization for Standardization., (2008). Negative effects on Globalization Retrieved November 13, 2008 Riordan Manufacturing. Retrieved November 15, 2008, from University of Phoenix e-resource. Riordan Manufacturing (n.d.). Mission. Retrieved November 12, 2008, from Stark, J. (1991). Retrieved November 16, 2008 from Vermani, (2008). Total Quality Management. Retrieved November 13, 2008 from

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