Business Management Paper
Resources: Riordan Virtual Organization and Environmental Scan Paper
I am looking for something like this use bottom references to gather information. Plagiarism less than 5% 300-350 words.
Researching Riordan Corporation strategic direction, measures and directives for competitive advantage proposals brings up one key initiative. Environmental sustainability, better known as “Going Green”, was discussed in limited internal communication, but there is no strategic planning initiative to further the objective. A company with a good record of environmental sustainability may create a competitive advantage in terms of attracting and keeping loyal consumers, employees, and investors. Being known as a socially responsible firm may provide a company with social capital, the goodwill of key stakeholders that can be used for competitive advantage. (Wheelen & Hunger) Additionally, the concept of reduce; recycle and reuse will decrease resource use, which will increase profit margin. A survey of 140 U.S. firms revealed that being more socially responsible regarding environmental sustainability resulted not only in competitive advantages but also in cost savings.(2002 Sustainability Survey Report) Innovative ideas would be to reduce or replace the use of environmentally hazardous raw material, use of naturally sustainable material and recycle/reuse any byproduct of the manufacturing process. Furthermore, programs to reduce pollution can actually reduce waste and maximize resource productivity. (Wheelen & Hunger)
Other examples of benefits received from being socially responsible are;
They can attract outstanding employees who prefer working for a responsible firm. This is one of Riordan Corps strategic performance measures. Another benefit, they are more likely to be welcomed into a foreign country. Riordan has operations in China and could benefit in horizontal expansion. A final benefit of note, their environmental concerns may enable them to charge premium prices and gain brand loyalty, a definite customer enhancement opportunity. (Wheelen & Hunger)
As a term, sustainability may include more than just ecological concerns and the natural environment. In order for a business corporation to be sustainable, that is, to be successful over a long period of time, it must satisfy all of its economic, legal, ethical, and discretionary responsibilities. (Wheelen & Hunger) An excellent opportunity to satisfy part of these responsibilities is this Going Green initiative. And with is comes corporate strategy change. In a classic study of large U.S. corporations such as DuPont, General Motors, Sears, and Standard Oil, Alfred Chandler concluded that structure follows strategy—that is, changes in corporate strategy lead to changes in organizational structure. (Chandler) Changes in the environment tend to be reflected in changes in a corporation’s strategy, thus leading to changes in a corporation’s structure. Strategy, structure, and the environment need to be closely aligned; otherwise, organizational performance will likely suffer.(Jennings & Seaman). But proper strategy will expand performance and profitability for corporation sustainability.
REFERENCE
Wheelen, T. L., & Hunger, J. D. (2010). Concepts in strategic management and business policy: Achieving sustainability (12th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall.
2002 Sustainability Survey Report, PriceWaterhouseCoopers, reported in “Corporate America’s Social Conscience,” Special Advertising Section, Fortune (May 26, 2003), pp. 149–157.
A. D. Chandler, Strategy and Structure (Cambridge, MA: MIT Press, 1962).
D. F. Jennings and S. L. Seaman, “High and Low Levels of Organizational Adaptation: An Empirical Analysis of Strategy, Structure, and Performance,” Strategic Management Journal (July 1994), pp. 459–475
……………….Answer Preview……………
Innovative companies in today’s workforce are doing much research to improve work and productivity in a bid to increase profits (Fortune, May 26, 2003). Their intention is to keep up with their customers and provide unconventional ways to improve the working environment. Riordan manufacturing is globally recognized for manufacturing plastics. They have a competitive strategy where they use history tracking of sales since it is important in strategic planning for growth. Understanding what customers need and developing…………………
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