Gap Analysis: Riordan Manufacturing
Riordan Manufacturing, whose parent company is a leader amongst the Fortune 1000, has established itself as a global leader in plastics manufacturing. Due to declining sales and uneven profits, Riordan was faced with implementing new strategic plans that would help increase sales through an innovative customer relationship management system (University of Phoenix, 2008). However, with the continued decline in sales, employee morale and motivation has also gone downhill. With most of the focus being on the changes with servicing customers, Riordon has potentially overlooked its most valuable asset of all – its employees.
Issue and Opportunity Identification
Riordan Manufacturing has recently made changes to how they market and manufacture their plastic products. Part of this new strategy includes a new customer relationship management system in which customers are serviced by teams instead of just one salesperson. Additionally, they have also become ISO9000 certified so they could better refine their manufacturing processes (University of Phoenix, 2008). Despite these new changes to help sustain future growth and profitability, the company is still at risk with its high employee turnover rate, and overall employee dissatisfaction. In order to make their newly adopted strategies successful they must take immediate action to improve employee morale, devise strategies to manage conflict, and also plan for incentives to help keep their employees motivated. Since there are essentially three different generations of workers, each generation will also have to be addressed in different ways since motivating factors are different between all of them.
Stakeholder Perspectives/Ethical Dilemmas
There are several stakeholders that exist within the Riordan Manufacturing scenario. The primary stakeholders are not limited simply to the company and its shareholders, but primarily within the employees of Riordan. For...