Mgt 498 - Week 4
Competitive Advantages
MGT/498
Competitive Advantages
Riordan Manufacturing Incorporated is an industry leader in the plastic injection molding with locations in the United States and China. The organization is in the development states of identifying key strategic internal and external factors. The objective of the organization is to implement a long-term strategic plan that will help identify opportunities, threats, and to aid in managing company resources. This essay will help Riordan decide which competitive strategies they can use in the United States and globally to improve innovation and sustainability. In addition, it will explain the use of these strategies and how the global market will affect the organization.
Competitive Advantage Commonality
To possess a competitive advantage, an organization must generate a higher volume of sales or margins and obtain a larger customer base in relation than its competitors. An organization with a competitive advantage will offer better services and lower prices than their rivalries. Riordan Manufacturing is an industry leader in plastic injection molding, operating globally, and employing 550 people with projected annual earnings of $46 million. The company originally began with the processing of polymers into high tensile strength plastic substrate but later expanded into the manufacturing of plastic beverage containers. The goal of most companies is to growth whether is vertical or horizontal. Riordan Manufacturing had experienced success common to companies such as Apple, Amazon, and Coca-Cola. Some commonalities include becoming an industry leader, research, and development progresses, and establishing a global presence.
Apple had undergone the same path as Riordan Manufacturing. They share similar experiences and their competitive strategy helped them with the highs as well as lows of the market. Such occurrence was Apple’s inability to overtake one of its biggest competitors – Windows.
MGT/498
Competitive Advantages
Riordan Manufacturing Incorporated is an industry leader in the plastic injection molding with locations in the United States and China. The organization is in the development states of identifying key strategic internal and external factors. The objective of the organization is to implement a long-term strategic plan that will help identify opportunities, threats, and to aid in managing company resources. This essay will help Riordan decide which competitive strategies they can use in the United States and globally to improve innovation and sustainability. In addition, it will explain the use of these strategies and how the global market will affect the organization.
Competitive Advantage Commonality
To possess a competitive advantage, an organization must generate a higher volume of sales or margins and obtain a larger customer base in relation than its competitors. An organization with a competitive advantage will offer better services and lower prices than their rivalries. Riordan Manufacturing is an industry leader in plastic injection molding, operating globally, and employing 550 people with projected annual earnings of $46 million. The company originally began with the processing of polymers into high tensile strength plastic substrate but later expanded into the manufacturing of plastic beverage containers. The goal of most companies is to growth whether is vertical or horizontal. Riordan Manufacturing had experienced success common to companies such as Apple, Amazon, and Coca-Cola. Some commonalities include becoming an industry leader, research, and development progresses, and establishing a global presence.
Apple had undergone the same path as Riordan Manufacturing. They share similar experiences and their competitive strategy helped them with the highs as well as lows of the market. Such occurrence was Apple’s inability to overtake one of its biggest competitors – Windows.