Mgt 498 week 5 learning team assignment strategic plan paper
The board of directors for Riordan Manufacturing has asked your team to create a strategic plan for the organization.
Create a 2,000- to 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 by Wheelen and Hunger. 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.
Conduct a thorough environmental scan (internal and external) for Riordan.
Identify three competitive advantages for Riordan
Develop a strategic plan for Riordan based on the competitive advantages your team has identified.
Through the process of creating a strategic plan, you should Address the following questions:
o Why does Riordan need a strategic plan?
o What role should ethical and social responsibility considerations have in Riordan’s strategic management plan?
o What competitive advantages does Riordan have, and which competitive strategies should Riordan utilize to improve innovation and sustainability in both domestic and international applications?
o What measurement guidelines should be used to verify strategy effectiveness?
o What internal dynamics along with cultural and structural leadership considerations should be used in implementing business strategy for Riordan?
o How do they influence business continuity?
o 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
Format your paper according to APA standards
Reference the course text book as your primary source.
Present a completed strategic plan to the board of directors for Riordan Manufacturing.
Outline your strategic plan for Riordan Virtual Organization in a 20- to 30-slide presentation using Microsoft® PowerPoint®
Describe why Riordan needs a plan, and walk the audience through every step in the strategic management process.
Include ethical considerations, environmental scanning for competitive advantages, innovation and sustainability considerations, measurement guidelines, internal dynamic and resource considerations for strategy implementation, and what feedback considerations Riordan should put into place to ensure the success of the company.
Keep your audience in mind and make your strategic plan convincing.