Situation Analysis and Problem Statement: Riordan Manufacturing Corporation
Situation 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 company 's situation around so as to not loose any ground in the industry. This is precisely the situation that Riordan Manufacturing is currently facing. How would you go about resolving the myriad of problems at hand without losing anymore profits and revenues? The following pages will address some viable options to address the situation described above. Situation Background
Riordan Manufacturing Company is a global plastic producer with three production facilities one in Albany, Georgia; a second in Pontiac, Michigan; and a third in Hangzhou, Chine. Riordan Manufacturing employs 550 workers, has annual projected earnings of $46 million dollars. Riordan Manufacturing primary clients are automobile parts and aircraft manufacturers; the Department of Defense, beverage makers, bottlers, and appliance manufacturers (University of Phoenix, 2006. The company found itself in a very delicate situation with decrease in sales revenues, low employee morale; due to the lack of incentives and rewards employee retention also declined. The Chief Executive Officer knows that something must be done immediately to turn the situation around if the company is to minimize the impact of the situation. Assistance in rectifying the precarious position of Riordan Manufacturing must be a collaborative effort between members of upper management, the human resource department, as well as employees Issue Identification
Riordan Manufacturing is facing
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 company 's situation around so as to not loose any ground in the industry. This is precisely the situation that Riordan Manufacturing is currently facing. How would you go about resolving the myriad of problems at hand without losing anymore profits and revenues? The following pages will address some viable options to address the situation described above. Situation Background
Riordan Manufacturing Company is a global plastic producer with three production facilities one in Albany, Georgia; a second in Pontiac, Michigan; and a third in Hangzhou, Chine. Riordan Manufacturing employs 550 workers, has annual projected earnings of $46 million dollars. Riordan Manufacturing primary clients are automobile parts and aircraft manufacturers; the Department of Defense, beverage makers, bottlers, and appliance manufacturers (University of Phoenix, 2006. The company found itself in a very delicate situation with decrease in sales revenues, low employee morale; due to the lack of incentives and rewards employee retention also declined. The Chief Executive Officer knows that something must be done immediately to turn the situation around if the company is to minimize the impact of the situation. Assistance in rectifying the precarious position of Riordan Manufacturing must be a collaborative effort between members of upper management, the human resource department, as well as employees Issue Identification
Riordan Manufacturing is facing