Problem Solution Riordan Manufacturing Essays - 1853 Words

Problem Solution: Riordan Manufacturing Riordan Manufacturing is a global plastics producer employing about 550 employees. The manufacturer has experienced a decrease in sales and a increase in employee turnover in the last few months. The paper will examine solutions to retain the customers and gain new ones as well as brainstorm viable solutions to combat employee retention. Communication will be key to the outcome of both problems. Situation Analysis Issue and Opportunity Identification Riordan Manufacturing has a multitude of problems that they are trying to correct in a reactionary manner. The innovative efforts of the company could have possibly been alleviated if the company had watched the changing trends in the industry and†¦show more content†¦Compensation in the workplace can be a very difficult subject to tackle. According to Business Week Online, major retailer Home Depot employees and stakeholders were very upset after Chief Operating Officer Robert Nardelli received after cutting full-time jobs and hours down to part-time with very little or no benefits. The exiting pay package consisted of a $210 million retirement package. Riordan is accused of demonstrating favoritism to some employees, promoting from the outside and untimely performance reviews. Overall the employees feel Riordan is a good company to work for however, feedback and pay packages must be tailored to the need of the individual employees job performance. Problem Statement Riordan Manufacturing will aspire to enhance customer relations and employee retention by catering to the needs of the customer while revamping employee incentive program. For example, Riordan will enhance the company’s market share by remaining innovative in their products and developing the team concept with the employees to better service the customer. End-State Vision Riordan Manufacturing will decrease employee turnover by demonstrating value to its employee’s by providing recognition, a competitive wage based on job performance and experience, and continued feedback for growth. Riordan Manufacturing will provide quality service through its innovative approach to marketing itsShow MoreRelatedProblem Solution: Riordan Manufacturing Essay3093 Words   |  13 PagesProblem Solution: Riordan Manufacturing This paper will be an analysis of the issues currently affecting Riordan Manufacturing. Riordan is facing an overall issue with low employee morale and motivation for several reasons. Changing its business strategy to team sales and support versus individual sales and support left Riordan with a compensation package not aligned with rewarding a team strategy. Desiring to remain a top player in the market Riordan needs to address several issues with performanceRead MoreEssay on Riordan Manufacturing Week 6 Problem Solution5835 Words   |  24 PagesRunning head: PROBLEM SOLUTION: RIORDAN MANUFACTURING Problem Solution: Riordan Manufacturing Elayne Limon, Bill Loski, Fatima Al-Mohannadi, Allison Pawloski, Daniel L. Knight II University of Phoenix MMPBL\530 April 23, 2012 Kathryn Adair Problem Solution: Riordan Manufacturing In today’s work place employee satisfaction is just as important as it has ever been in history. With employer cutbacks, job eliminations, pay reductions, and business closings employee satisfaction must be atRead MoreExecutive Summary of Business Processes1183 Words   |  5 Pagesrequirements for computer system enhancements. Riordan Manufacturing needs these enhancements to improve its inventory and manufacturing processes. Executive Summary About Riordan Manufacturing (RM) Dr. Riordan, a chemist, started Riordan Plastics in 1991 as a research and development company based on patents for creating high tensile strength plastic products. Riordan Plastics added manufacturing operations and became Riordan Manufacturing (RM) in 1992 (Apollo Group, Inc., 2006). RM employsRead MoreSituation Analysis and Problem Statement: Riordan Manufacturing Corporation1183 Words   |  5 PagesSituation Analysis and Problem Statement Imagine being Chief Executive Officer of a Fortune 1000 company with projected annual earnings of $46 million dollars and revenues totaling in excess of one billion dollars. However, the company has operated from a status quo position for years, you find that your company sales revenue is quickly declining, profits are uneven, and the ability to retain staff is being negatively impacted. As Chief Executive Officer it is your duty to turn the companyRead MoreAccounting Cycle Description Essay1480 Words   |  6 Pages Riordan Manufacturing Company sells plastic bottles, fans, heart valves, medical stents, and custom plastic parts. The Riordan Company uses the revenue cycle by increasing sales force promotions, offering price discounts and customer group services to existing customers and to new customers, Riordan Manufacturing Company plans to implement public relations activities, trade shows, brand development, and also giving sales force promotions (Riordan, 2006). Riordan Manufacturing has startedRead MoreEssay on Riordan Problem Solution991 Words   |  4 PagesProblem Solution: Riordan Manufacturing Riordan Manufacturing is a global plastics producer 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. Production is divided among three plants: plastic beverage containers in Albany, Georgia; custom plastic parts in Pontiac, Michigan; and plastic fan parts in Hangzhou, China. Research and Development is conducted at corporateRead MoreEssay about Riordan Manufacturing, Incorporated1632 Words   |  7 PagesRiordan Manufacturing, Incorporated Riordan Manufacturing’s success is due to their industry-leading plastic molding. Riordan creates plastic products ranging from plastic bottles and fans to heart valves and medical stents. The company was founded by Dr. Riordan, a professor of chemistry, in 1991. Under the name of Riordan Plastics, Inc. the company’s initial focus was the research and development of their original plastic products. In 1992, Dr. Riordan purchased a fan manufacturing plant in PontiacRead Morelateral collaboration and vertical coll1740 Words   |  7 Pagesmore organically. Employees have open contact with each other and are more available to create collaborative solutions. The rigid structure of a vertical organization tends to slow communication between departments and from management to employees. Communication in a horizontal organization tends to be more organic and easily flows from one work group to the next. Riordan Manufacturing Riordan is the largest industry capable of making polymer products. They are proud on their strategic planning andRead MoreKirk Samuda Riordan Manufacturing1451 Words   |  6 PagesKirk Samuda University of Phoenix BSA/375 Week (4) Mr. Jeffrey Mc Nickle Riordan Manufacturing must acknowledge that the initiation of any project can get a black eye because of implementation problems. As such, they should realize that the major overall problem with implementation is that complexities associated with it, usually occurs when the solution is deployed. Hence, many of the details of implementation must be planned ahead of time. The HR amp; IT departments cannotRead MoreRiordan Manufacturing Strategic Plan Development1056 Words   |  5 PagesReview and Summary of Riordans Mission and Vision and Strategic Objectives 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 (Apollo Group Inc., 2004). The Mission and Vision Statement of Riordan Manufacturing is four tier, concentrating on the company Focus, Customer Relationships, Employees and a Future