Strategic Plan Paper

0 / 5. 0

Strategic Plan Paper

Category: Term paper

Subcategory: Business

Level: College

Pages: 3

Words: 825

Strategic plan for Riordan
Name
Institutional Affiliation
Importance of Strategic Plan
Organizations around the world are trying very hard to sustain their market share and improvise mechanism that will help them defeat their competitors. Managers at Riordan should make decisions that will help the company attain the aims with an effective number of resources. When planning, there are key considerations that the top leaders try to use and strategize on how they will be implemented for instance methods to increase the clientele base and make sure that their consumers are happy. The use of technology in service delivery has been integrated into most firms because leaders have known that it will help in several ways like reducing operational cost. Strategic management and planning have been used to make sure that an enterprise functions properly, and production is good hence increasing customer loyalty. The reasons as why Riordan needs a strategic plan is as discussed below.
The strategic plan aims at describing the goals of a company and not necessarily how they are achieved (Bryson, 2011). These plans help in making sure that Riordan understands how to indulge its members to achieve the targets. The first reason as to why the functionalities are important is because they provide direction and focus to the firm. Staff gets to know the required parameters that they are needed to offer since they see the result and will try to fit in to accomplish their tasks. During meetings, employees get to have a mindset that directs them to the kind of questions or suggestions they are supposed to provide since they know the aim of the entire organization. Riordan should make sure that the strategic manager is well knowledgeable of the workings of the entire corporation so that he or she is in a position of making wise plans.
Strategic planning helps in building the competitive advantage of the company. When clients and staffs know the aim of Riordan, they feel part of it and will try to be creative enough to help the firm sustain tough economical situations in the industry and defeat competitors like Wal-Mart. When customers and employees love the quality of products and working conditions, they will most likely be motivated to help the enterprise attain its goals. Leaders in this case, are required to be in the forefront of ensuring that people get the best experiences either within the corporation or out, since it will help them having a good understanding of the whole plan. The Riordan management should make sure that the working environment for the entire taskforce is good for most of the employees so that it can help in encouraging them to be more productive.
Strategic planning will describe Riordan as a whole and does not exclude any worker since all the staffs need to work independently to help the firm attain its goals. When managers, supervisors, and the subordinates do what they are required, it will be very easy to produce nice goods or products that the client will like hence making them suggest the company to others. If this mechanism works properly, Riordan will grow to reduce competition since the general performance is superb. The top leaders should also ensure that they involve a section of employees in decision-making meetings since it will help in establishing the best working practices for every person within the enterprise. Riordan should have a comprehensive working plan that will help them in job allocation and distribution of resources to ensure that everyone is participating in making developing the company.
Ethics and Social Considerations of Strategic Management
Strategic planning will help the organization to have a clear working plan that will help it in interacting with the rest of the society. Since Riordan produces products for its clients unlike Wal-Mart, it should make sure that it makes the best quality to gain customer satisfaction. Social considerations are embedded in the working criterion of the business to ensure that people do not feel degraded. Ethical management helps in making sure that business risks are minimized; this is achieved in by making sure that staffs are trained on how to handle equipment within their area of work especially in Riordan, which is a global enterprise. When individuals are well behaved, there would be a reduction in unwanted expenditure and wastage of resources that could be used in solving issues within the organization (Weiss, 2014). Also, long-term success and survival can be achieved by every party that is involved in making sure that the firm is a success is enjoying their work at the same time clients are satisfied unlike with Wal-Mart where employees are not satisfied with the working environment.
Another role of social and ethical considerations of the strategic management for Riordan is the mission statement that helps employees in adjusting themselves to embrace it since it will help in controlling the behavior of the workers. When clients start believing in the products of the company, they will start giving suggestions on some changes they would like to see. When the firm starts to operate well, stakeholders will be attracted thus increasing the value of the company and all its functions. Riordan should take this as a challenge this it will help its managers make wise decisions that will uplift the resources of the enterprise. Strategic planning helps companies to grow and accommodate all the parties that are involved in making sure that the organization attains its goals. Riordan should be at the forefront in making sure that the people who make the most crucial decisions are well skilled in their area hence making it possible for every worker to enjoy their roles. Good relations should always be encouraged during service delivery and customer interaction since they help in sustainability.
References
Bryson, J. (2011). Strategic Planning for Public and Nonprofit Organizations: A Guide to Strengthening and Sustaining Organizational Achievement. San Francisco: Jossey-Bass
Weiss, J. (2014). Business Ethics: A Stakeholder and Issues Management Approach. California: Berret-Koehler Publishers, Inc.