Riordan Manufacturing Essay

5455 words - 22 pages

Critical Analysis of Motivation & Rewards Solutions Riordan Manufacturing Abstract The following paper will provide a brief background explanation detailing some of the issues found in the Manufacture. There will a series of three possible solutions identified for Riordan where one will be officially chosen. A brief description of the chosen strategy and solutions will then be detailed to provide a better understanding as to why the solution was the best fit for the company. The paper will proceed with an elaboration of each Riordan department experiencing problems and how the chosen strategy solutions will benefit and help it succeed. To finalize this paper, there will be a recap of the issues facing the company and the effectiveness of the strategy chosen to solve them.Introduction Riordan Manufacturing is a successful plastics manufacturing organization operating for at least a decade. Riordan has been very successful, but for the past couple of years the company has seen a decline in sales and profitability. Also employee morale and retention have also become a huge issue for Riordan. In order to develop a strategy to address Riordan?s problems, the company must identify the problems and opportunities that are present. Riordan Manufacturing?s should develop and have an open discussion for alternative solutions to help the company find issue resolution and provide focus on available opportunities. There are five main problems Riordan should be aware of: ? Decline in sales and uneven profits.? Poor morale and increasing employee turnover (includes problems with training, compensation, lack of recognition, etc.) ? Lack of leadership and unity within the leadership team.? Ineffective human resources department and initiatives.? Improvements with the internal issues (human capital) Riordan Manufacturing will become a much profitable and much stronger organization at all levels by building enduring, trustful relationships with its stakeholders, existing and potential customer Background The company was founded by President and CEO, Dr. Michael Riordan. Dr. Riordan started Riordan Plastics, Inc. in 1991. Initially, the company's focus was on research and development and the licensing of its existing patents, but in 1992 Dr. Riordan obtained venture capital which he used to purchase a fan manufacturing plant in Pontiac, MI. At that time, the company's name was changed to "Riordan Manufacturing, Inc." In 1993, the company expanded into the production of plastic beverage containers when it acquired a manufacturing plant in Albany, GA.The company's most recent expansion took place in 2000 when it opened its operations in China. At that time, the entire fan manufacturing operation was moved from Michigan to China and the Pontiac, MI facility was retooled for the manufacture of custom plastic parts. Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. Its products include plastic...

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