Scenario: The board of directors for Riordan Manufacturing has asked your team to create a strategic plan for the organization.
Make 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. You may also use information from the team project you completed for Riordan Manufacturing to create the strategic plan.
Cover thoroughly the areas of environmental scanning, strategy formulation, strategy implementation, and evaluation and control.
Illustrate the following questions in your strategic plan:
• Why does Riordan need a strategic plan?
• What role should ethical and social responsibility considerations have in Riordan's strategic management plan?
• What competitive advantages does Riordan have, and which competitive strategies should Riordan utilize to improve innovation and sustainability in both domestic and international applications?
• What measurement guidelines should be used to verify strategy effectiveness?
• What internal dynamics along with cultural and structural leadership considerations should be used in implementing business strategy for Riordan?
• How do they influence business continuity?
• What assessment and feedback controls should be used to determine the direction to take Riordan? If the strategy of Riordan does not go according to plan, at what point would you consider altering the strategic plan you have suggested?