Running head: PROBLEM SOLUTION: RIORDAN MANUFACTURING
Problem Solution: Riordan Manufacturing
University of Phoenix
April 3, 2006
Problem Solution: Riordan Manufacturing
Gone are the days when manufacturers could count on price increases to help boost profit margins. Today, manufacturers are faced with pressures to decrease prices for their goods -- which mean profits must be achieved through improvement in the development, production, and delivery of manufactured products. It is not a matter of luck -- today's top companies must out manage and out manufacture their competition. Employees who are satisfied with their jobs are more likely to stay in them, thus increasing productivity and retention.
Riordan Manufacturing (RM) is a global plastics production company headquartered in San Jose, California with an annual income of $46 million. Production is divided among three plants: plastic beverage containers in Albany, Georgia; custom plastic parts in Pontiac, Michigan; and plastic fan parts in Hangzhou, China. Research and Development is conducted at corporate headquarters. The production plants service many vendors from diverse market areas. Riordan's employees comprise three major demographic groups (a) Baby boomers, (b) GenXers, and (c) GenY. These three groups have radically different perspectives on rewards and motivation, valuing everything from interesting work to bigger paychecks.
The company recently conducted an annual employee survey, which showed a decrease in overall job satisfaction, particularly in the areas of compensation and benefits. The senior leadership of RM is faced with a difficult task of examining the declining moral and work ethic throughou ...