With pay currently not meeting industry standards, they are at risk of losing good employees to other companies while at the same time having highly visible projects they need completed on the horizon Recently, Riordan made several strategic changes in the way it manufactures and markets its products. Because of declining sales and uneven profits over the past two years, Riordan adopted a customer-relationship management CRM system Riordan Manufacturing Intranet, Your current information systems state will not enable Riordan to achieve this mark, especially in the finance, accounting and inventory areas.
By admin Gap Analysis: Riordan Manufacturing The business world today is very fast paced, and to keep pace companies must thrive on gaining a competitive advantage over other companies. Many methods can be used to be a successful company, and one such tool in benchmarking.
Generic benchmarking is one such tool that allows companies to find success and solutions from past organizations who have faced similar problems.
Employees are the lifeblood of any company, and it is important to ensure that they are properly motivated and rewarded for hard work. Currently the issues facing Riordan Industry can be described from a human resource perspective.
These HR perspectives are Individual incentives, measuring an employee performance, pay-for-performance, motivational theories, creating a performance management system, group incentives, career development, and employee benefits.
With the help of benchmarked data from these specific areas Riordan will be able to restructure the organization enabling them to develop a new product and increase products. Situation Analysis Issue and Opportunity Identification Riordan will not survive unless proper human resource policies and procedures are used.
Reward systems and compensation packages are but a few business strategies that can be applied that meets c Riordan should offer group incentives such as gain sharing. Gain-sharing plans are unit wide bonus systems based on performance in comparison to some cost index e.
Work teams or units must first devise ways to improve work processes, thereby reducing labor costs. In addition to helping people acquire job-related knowledge, skills, and abilities, employers have a stake in helping employees develop from a career and personal perspective.
Senior managers need to develop the skills required to be effective career developers. The staffing and hiring of the employees will have to be watched carefully by HR. Job performance and promotions will also be warranted if Riordan is to achieve a motivated performance harmony within the company.
An explanation of its goal needs to be explained early with the Riordan employees. Health benefits are a major selling point when it comes to individuals choosing employment.
Medical insurance, retirement programs, life insurance and savings plans are common benefits which help protect employees from the financial risks inherent in daily life.
Companies like Riordan Manufacturing, do not concern a single person or a single group of people. Instead a number of stakeholders are directly affected by the actions and decisions of the company. When there is a clash between the needs of stakeholders conflicts occur.
In this case the most striking conflict that we see is; between the stockholders and the employees.
In order to maximize their profits stockholders have taken actions that reduce compensations and benefits of the employees. With its human capital constantly decreasing Riordan Manufacturing will come to a stage where it will not be able to deliver the promised goods and services thus coming into conflict with client as well.
Other conflicts between stakeholders can occur when stockholders fail to give respect to their employees, clients are not respected by the organization or employees fail to account for the damage to stockholders interests.
Conflicts can also occur in the form of ethical dilemma.
For example a decision to cut costs by revoking medical benefits of employees has ethical implications as well. Ethical dilemmas can also arise when employees are offered illegal ways to increase sales or maximize profits.
The right way to follow in such situations is to act in a responsible way and abide by the law. Our vision is to sustain the growth of the company along with the growth of all the stakeholders. In future I expect Riordan Manufacturing to be a global leader in plastic manufacturing industry.
With its diverse pool of human capital it will be a powerhouse for innovation, learning and introduction of new and more efficient products. Lastly, I see Riordan Manufacturing at the forefront of fulfilling corporate social responsibility. It will be taking initiatives such as giving scholarships so that human capital for future is developed and the growth can be sustained over time.Gap Analysis- Parameters to Measure Service Quality Apr 6, Paulami Roy The Gap Model - Canada Small Business Financing Program The Gap Model is an effective tool for identifying and rectifying service quality and service delivery gaps.
Service marketing is inherently different from product or goods marketing. - Gap Analysis: Riordan Manufacturing Introduction Riordan Manufacturing is a year-old global plastic producing company employing people with projected annual earnings of $46 million.
Recently they’ve been having employee motivation issues and as a result are experiencing declining sales, lower job satisfaction, and increased turnover.
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Gap Analysis: Riordan Manufacturing Riordan Manufacturing is a Fortune company that develops and sells plastics.
It was founded by president and CEO Michael Riordan published this. Free Essay / Term Paper: Riordan: Gap Analysis Gap Analysis: Riordan Multi-national corporations (MNCs) are rapidly increasing in China due to industries increased interests in foreign investments.
China is an emerging economic power that cannot be ignored by international business. I met my husband when we both lived in Boston and just recently we moved to CT. Timothy Riordan and his family opened a bar in Boston when they came over which was in scully square. but you are right that the names are the same.
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