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?
Resources: Riordan Virtual Organization, Concepts in Strategic Management and Business Policy, and Competitive Advantages Paper
Scenario: The board of directors for Riordan Manufacturing has asked your team to create a strategic plan for the organization.
Create a 3,000-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 in Week Four to create the strategic plan.
Cover thoroughly the areas of environmental scanning, strategy formulation, strategy implementation, and evaluation and control.
Address 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?
Explain and justify all of the decisions you have made for your strategic plan, using research and understanding learned from the reading material.
It is important that you include academic theory and principle that define the importance of the vision, mission statement and values. You must include academic research, company-specific research and demonstrate your understanding of how these academic principles apply specifically to your company. A minimum of five company, Riordan-specific and competitive advantage academic sources must be cited.
Format your paper consistent with APA guidelines. Your are expected to use Level 1 and Level 2 Headings. Level 3 Headings may be used at your discretion.
Keep your audience in mind and make your strategic plan convincing.