Riordan Manufacturing Company’s Advantages and Issues
Riordan Manufacturing Company shares many competitive advantages with Deloitte and IKEA companies. The three companies’ business services are driven by values. Being global companies, they understand the different cultures that cut across the different races, gender, and religious backgrounds of the customers they serve. Their senior management staff is thoroughly trained to make sure they understand the set up areas they work in. Riordan manufacturing understands that the sustainability of its’ business operations depends on the high value placed on customers. This in turn makes the customers to feel that they are part of the company. The company regularly identifies its’ customer desires, their differences in the tastes, and then following on the same they take necessary measures to adjust their quality to suit the various needs of the customers. The whole of this process extends making it practical for customers to get value for whatever price they pay for the products bought (Epstein,1996). The company prides in providing solutions to client problems. This covers what customers crave for in products.
Riordan Manufacturing Company does not implement the policy that goods once sold cannot be returned. This makes sure that loses are not transferred because whoever is responsible for the loss between the client and the company bears the cost. The company in a similar way to Deloitte and IKEA is in tandem with technological advancement. Its research and development center is at San Jose. This is where the company is headquartered making this department to have the final authority on research. By being up to date with the changes in information technology, the company serves customers well, from anywhere and to satisfaction.
Issues that require consultation before making a decision on them are handled fast and effectively. The outlets in other branches enjoy the semi autonomous status. In such cases, the branches operate after being approved by the political leadership of the respective countries within which they operate. The Company, just as the other two keeps clients for along time. The foundation of this is pegged on the Company having the best innovations, competitive prices, the best quality control officers, and timely response to customer queries. This creates the best overall business attitude. Availing adequate information to the customers makes the clients become part of the company. In such circumstances, the Company is assured of continued existence into the future. Considering how competitive the industry has become, the company must improve in the areas of running its foreign outlets (Epstein, 2008). This will help the management within the global market to prepare tailor-made promotions to suit their specific markets. The second aspect that needs improvement is its research and development center. This office is based in San Jose. Decentralizing this division will enable a bottom-up approach in dealing with research that is specific to the respective markets.
The competitive strategies discussed herein will contribute to the sustainability of Riordan Manufacturing Company because they target areas that are important although some of them need improvement. The strategies cover the entire manufacturing process, which include critical evaluation of inputs, sustainable processes that maximize outputs, and making sure the outcomes are centered on sustainability. All these factors put together will tilt business profitability in favor of Riordan in the end. This will be the definite long-term effect to the business performance when the Riordan projects planning into the future. These areas of improvement will make Riordan stamp authority in the global market. The company will curve out its market share and hold onto its current customer base. This is usually the base of business success. The best of it will be that the company will survive the storm brought by competition in the industry.
Riordan’s business strategy will be influenced in a number of ways following its expansion paths into the global market. The threats and opportunities become bigger on and therefore the company has to channel most of its resources to these areas. These resources will be geared towards improving the four familiar Ps of the marketing elements whose complexity will be increased by the global market. Based on the global market and with the desire to cut a niche, the Company’s value chain will be restructured so that its research, marketing media, and manufacturing process shift attention to satisfying the global desires. The global market will force Riordan to strike a balance between remaining focused in maintaining the global strategy and gaining competitive advantage. The global market becomes scary to other companies because of the high levels of competition, which punish by eliminating rivals from the competition. Approaching the company marketing media in a way that will put together the best marketing mix aimed at satisfying the global client will be because of the global market. The market will compel the company to choose between spreading the business outlets across continents and concentrating in particular regions. All this processes will require both centralized and decentralized decision-making. This is very important when it comes to business survival in the long-term. The company that projects its decisions to take of future occurrences makes itself prepared for uncertainties.
References:
Epstein, M (2008). Improving social and financial performance in global corporations. .London: Greenleaf Publishing.
Epstein, M. (1996) Measuring Corporate Environmental Performance. London: Greenleaf Publishing.