Riordan Manufacturing Strategic Plan

3172 words 13 pages
Riordan Manufacturing Virtual Organization Strategic Plan Strategic planning considered one of the important factors to be considered by organizations seeking to improve business and process within the current organization scope. Riordan Manufacturing Inc. has become a global leader in the area of plastic injection molding with state-of-the-art design capabilities. Currently Riordan Manufacturing Inc. is looking to develop and implement a strategic plan for the organization to improve process, operation, and procedures within the company’s day-to-day work load. Within this paper team C will discuss the reasons why Riordan Manufacturing needs to develop a strategic plan by elaborating on the following reasons: environmental scanning, …show more content…
Ethical and Social Responsibilities
Two schools of thought address the responsibilities of an organization. Milton Friedman provides a traditional view of the responsibilities by stating “There is one and only one social responsibility of business-to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception of fraud (Wheelen, 2010)”. Friedman believed that an organization should only be concerned with profit. Archie Carroll however, believed that an organization has responsibilities beyond itself, and that the profits that a company makes are the means to satisfying these responsibilities. Carroll proposes that organizations have four areas of responsibility. Listed in Carroll’s order of priority these areas are; economic, legal, ethical, and discretionary. Carroll’s proposal requires that organizations must meet its economic responsibilities by producing products for purchase and the repayment of its creditors.
Meeting legal responsibilities, the rules and regulations that the organization must follow as stated by governments are also a requirement. Ethical responsibility is considered to be something that an organization should do. Ethical responsibility includes considering the beliefs and behaviors of the society in which the organization conducts business. Carroll defines discretionary

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