Competitive Advantages And Strategy Of Riordan's Business Strategy

Register to read the introduction… It was founded by Dr. Riordan a professor of chemistry in which he obtained several patents processing polymers into high tensile strength plastic substrates. They have 550 employees they produce plastic beverage containers, custom plastic parts and plastic fan parts in China. The strengths they have going for them is they have established there business here in the United States. The major growth has been by our Department of Defense contracts. These have also been subsiding internationally as well. By opening plant operations in China they are able to cut cost on raw material and save money with labor …show more content…
In each of the aforementioned areas, the company can make cutbacks on procedures and maintain the same results. In the manufacturing side of the business the organization can move parts and other essential tools closer to the work area and organize steps or procedures. Additionally, the company should automate the supply chain to help replenish supplies regularly. The research and development department is the leader in new trends, which means the department is constantly looking for ways to make the product cheaper and maintaining the same quality (Wheelen & Hunger, …show more content…
The company would require more than a regular business strategy and will add a global business strategy as well. A global business strategy is for companies operating in a global business environment. The company would develop strategies to meet short and long-term goals while trying to gain in the national or regional market. Global business strategy differs from a regular business strategy because of factors including product standardization and adaptation. Standardization involves producing the same product for international markets with only minor changes in the product. This strategy has many pros and cons so it can be a serious task for companies who work in the global market (EconomyWatch,