Riordan Generic Benchmarking

In: Business and Management

Submitted By ryanbass
Words 3934
Pages 16

Riordan Generic Benchmarking

Riordan Manufacturing is a global plastics producer. The company wants to develop a team compensation plan around its new customer-relationship management system. Riordan wishes to choose the best option to support this plan. Based on the generic benchmarking for issues facing Riordan the following companies have been identified as having some of the same issues: Graybar for team compensation strategies, BHP Copper for gainshairing, American Standard and United Parcel Service for work life policies, Transtec Group and LeasePlan USA for pay-for-performance plans, and Starbucks for part-time employee benefits. Based on the findings this paper presents some best practices to be used based on other companies.

Key Course Concept
The following companies were benchmarked against issues facing Riordan. These companies are Graybar Electric Company, BHP Copper, American Standard, United Parcel Service, Transtec Group, Starbucks, LeasePlan USA and Verizon Communications.
Riordan was benchmarked again Graybar in regards to team compensation strategy. Teams have become a popular way to organize business because they offer companies the flexibility they need to meet the demands of the ever changing business environment (Zobal, 1998). This process should be slow. Riordan had a compensation plan focused only on team performance without considering the growth in employee benefits.
The concept that was benchmarked with American Standard and United Parcel Service was work life policies. Work/Life Focus are programs that help employees better integrate their work and life responsibilities include time away from work, access to services to meet specific needs, and flexible work arrangements (Dreher & Doughtery, 2001).
The concept that was benchmarked with…...

Similar Documents


...Benchmarking Training Article Benchmarking for competitive advantage Introduction There has been a progressive increase in the topic of benchmarking – but for all that there is still a great deal of ignorance about what it actually is. It has taken its place as a management buzzword along with BPR, TQM, Change, EVA and many others – but its true nature is poorly understood. Some see it as stealing (or ‘borrowing’) ideas; others as a mechanism for comparison with a competitor; whilst others view it as a form of industrial espionage. In fact it is all of these and none of these at the same time, but instead involves understanding strategic gaps; cooperation; hard work; a willingness to question and where necessary to change fundamental precepts (sacred cows) and also - giving. This paper will address several issues including: what benchmarking is; when it should be used; and the benefits from using it; how to approach a benchmarking initiative; and how to optimise a benchmarking project. What is benchmarking? The term benchmark comes from surveying where it was used to denote a notch or mark representing a given altitude and against which other heights could be calibrated or ‘benchmarked’, since when it has come to mean any standard against which something is compared; and some of the leading exponents in business include Xerox and GE. In business terms there are numerous definitions of benchmarking, but essentially it involves learning, sharing information and......

Words: 4668 - Pages: 19

Interclean Generic Benchmarking

...Running head: Interclean Generic Benchmarking MBA 530 Interclean Generic Benchmarking University of Phoenix INTRODUCTION InterClean, Inc. is a major cleaning and sanitation Company existing in a multi-million dollar industry that continues to evolve based on the environmental safety changes. In fact, the focus has greatly changed from that most effective products but rather, it not focuses on services and solutions that will streamline the entire cleaning industry. To meet this demands, InterClean, Inc. is changing their business strategy to better serve customer needs by merging with EnviroTech, Inc. in an effort to gain market share and capitalize on the service expertise of EnviroTech’s employee base. The following will benchmark four HR strategies including training, skills assessment, organizational structure, and strategic planning all of which could be used to effectively transition to a single company whereby solution-based sales are provided. AT&T The largest provider of both local and long distance telephone services and the second largest provider of wireless services in the United States, AT&T services more than 150 million total customers nationwide (Wikipedia, 2009). However, with the recent economic slowdown hitting the tech labor market and the rejection by AT&T’s union to extend employee’s current contracts by 18 months, US employees are now at risk of losing their jobs to employees with less demand in India (AT&T, 2008). ...

Words: 2243 - Pages: 9


...evaluating a company performance. According to Kulmala (1999), “benchmarking refers basically to the process of evaluating and applying best practices that provides possibilities to improve the quality.” Based on Bhutta and Huq (1999, p. 255), benchmark is a tool for improvement, achieved through comparison with other organisations recognised as the best within the area. In simple words, benchmarking is the process of comparing result, output, method, process, and practices in a systematic ways and improving the organization performance. However, Ahmed and Rafiq (1998) argue that the essence of benchmarking is how to improve activities, processes and management. Benchmark can be classified into six types which are competitive benchmarking or performance benchmarking, process benchmarking, strategic benchmarking, functional benchmarking or generic benchmarking, internal benchmarking and lastly external benchmarking. 3.2 Competitive Benchmarking Competitive benchmarking involves the continuous measurement of the company’s product, services and practices against the standards of best competitors and the companies who are identified as industry leaders, resulting in continuous improvement in products and processes. Besides that, competitive benchmarking also the process of comparing results of output, method, process and practice of improving the organization performance. According to the Bjorn Anderson, benchmarking is the practice of being humble enough to admit that......

Words: 4825 - Pages: 20

Remington Peckinpaw Davis Generic Benchmarking Worksheet

...Remington Peckinpaw Davis Generic Benchmarking Worksheet |Task A: Problem/Opportunity Statement | |Instructions for Task A: In the Response row, write out the problem/opportunity statements for the scenario for each of the team | |members. | |Response to Task A: | |Betty - Remington Peckinpaw Davis will implement advanced technology and strategic performance management tools and techniques to | |manage cost, increase market share and maintain customer loyalty while remaining a leader in the online trading industry. | | | |Generic Benchmarking—The purpose of generic benchmarking is to identify potential solutions to the problem statements defined in Task | |A. You will do this by looking at how companies in other industries have dealt with similar issues. | |Topic A: Data Reliability | |Response to Topic A: ...

Words: 1642 - Pages: 7


...January 6, 2010 Riordan Manufacturing Riordan Manufacturing has placed a service request for all manufacturing locations to gain an overview about all existing software applications in Finance & Accounting, Sales & Marketing, Human Resources, Operations, Legal and Information Technology. All the listed areas within the organization are using various business systems of which each of them represents challenges. The organization is in an urgent need to identify what is needed to improve effectiveness in those areas. The success of Craegmoor's newly remodeled rewards program was attributed to successful interoffice communication of the program, which included an email address, area briefings, submitted articles in the company magazine, as well as local and national press, and held an awards ceremony that recognized all nominees as well as the winner, which successfully communicated the value of its employees to the organization and promoted the organization as 'A great place to work' (Keating, 2007, p. 35). Success of the new reward initiative was measured by a reduction of staff turnover of more than 30% in just two years. The annual company survey also identified several other areas that staff has noted other improvements including, employee's opinion of the organization, management and its competency, training, and praise and recognition. In order to maintain its success Craegmoor has committed to regularly assessing its reward and training initiatives to ensure that......

Words: 680 - Pages: 3

Foundation Schools Generic Benchmarking Worksheet

...Running head: GENERIC BENCHMARKING WORKSHEET The Foundations Schools Generic Benchmarking Worksheet Deanna Fields, Kicia Gaines, Edward Thaxton University of Phoenix MMPBL/510 Implementing Organizational Initiatives Professor Joel Maier September 20, 2010 Task A: Problem/Opportunity Statement – Edward Thaxton The objective of our research study is to employ a team-based approach to identifying problem opportunity statements, effectively conduct generic benchmarking research, identify successful and unsuccessful generic benchmarking companies and recognize potential solutions to our problem opportunity statement and end-state goals.   The design of the study includes peer-reviewed references, and utilization of a generic benchmarking worksheet. The team's approach to the research methods was to research the generic benchmarking information individually and incorporate our findings into one manuscript. Furthermore, the team-based research approach will provide enhanced solutions from three different perspectives and allow us to be more successful in our research, generic benchmarking methodologies and solution identification for California School Districts and Princeton Review. Task B1: Benchmarking - California School Districts – Kicia California’s 978 school districts receive the majority of their funding through a formula known as “revenue limits.” Revenue limit funds can be used by school districts for general purposes, unlike funds received through......

Words: 1547 - Pages: 7


...-BENCHMARKING - 2014 BENCHMARKING DIANA C. HURTADO MUÑETON LORENA PULIDO BENAVIDES DANIEL JIMENEZ GOMEZ DOCENTE: EFRAIN OCAMPO UNIVERSIDAD AUTONOMA DE MANIZALES NEGOCIOS INTERNACIONALES COSTOS LOGISTICOS Y BSC 1 -BENCHMARKING DEFINICIÓN El benchmarking es una forma de determinar qué tan bien se desempeña una empresa (o una unidad de esta), comparado otras empresas (o unidades). Esta ubica el desempeño de la empresa en un contexto amplio, y permite determinar las mejores prácticas.  “Benchmarking es el proceso continuo de medir productos, servicios y prácticas contra los competidores más duros o aquellas compañías reconocidas como líderes en la industria”. David T. Kearns, director general de Xerox Corporation. La continuidad en el benchmarking no sólo significa un proceso que se hace una vez y se olvida, sino que es un proceso continuo y constante. Otro aspecto es el de la medición, ya que esta está implicada en el proceso de benchmarking, pues se tienen que medir los procesos propios y los de otras empresas para poder compararlos. Del mismo modo este proceso se puede aplicar a todos las facetas del negocio. Y finalmente este se debe dirigir hacia aquellas empresas y funciones de negocios dentro de las empresas que son reconocidas como las mejores o como los líderes de la industria.  “Una marca del agrimensor de una posición previamente determinada y que se usa como punto de referencia, un estándar mediante el cual se puede medir o juzgar algo”....

Words: 2416 - Pages: 10


...Company Benchmarking for Competitive Advantage Terry Pilcher Assistant Director – Department of Trade and Industry UK Before undertaking a benchmarking study a company must be aware of the different types of benchmarking that exist. One of the major reasons for misunderstanding is the tendency to call a wide variety of different activities Benchmarking. The most simplistic form of benchmarking could be one person talking to another and deciding if they have similar areas of interest. At this level people undertakes benchmarking every day. Before listing the different types of benchmarking that exist it might be useful to present some definitions of benchmarking to set the scene. There are many definitions around but it is not so much the differences that matter but the similarities. This can be best illustrated using the following definitions: ‘A continuous systematic process for evaluating the products, services and work of organisations that are recognised as representing best practices for the purpose of organisational improvement’ (Spendolini, 1992) ‘Benchmarking is an external focus on internal activities, functions, or operations in order to achieve continuous improvement’ (McNair and Leibfried, 1992) ‘A disciplined process that begins with a thorough search to identify best practice organisations, continues with the careful study of one’s own practices and performance, progresses through systematic site visits and interviews, and concludes with an analysis of......

Words: 1707 - Pages: 7


...n Individual –Riordan Problem Solution Paper and Defense Using the Problem Solution Template, develop a 3,000-4,500-word paper in which you propose a solution to help Riordan develop cross cultural management tactics that meet strategic goals. Remember that your solution needs to focus on the cross cultural management concepts covered in the course (see the mind map in Week Four on your rEsourceSM course page). Be sure to incorporate appropriate citations from your readings and research. NOTE: The word count does not include the tables. Be prepared to propose your solution to your peers and defend your ideas. The instructor will determine the method that this defense will take. Please Note: Please remember that this is a study guide and to use it as such. You still need to put your assignment in your own words. You can summarize, and paraphrase the information in this guide to fit your needs but I would advise that you do not turn it in word for word as your own work or you risk plagiarism. Good luck with your studies! Problem Solution: Riordan In today’s global competitive business landscape, the successful management of a global workforce is crucial to the success of the entire organization. Success in this arena is contingent on many factors some of which are awareness of and adjustments to cultural dimensions, correctly applied management styles, and effective job design. Awareness of and adjustments to cultural dimensions is an important aspect......

Words: 5285 - Pages: 22


...The Practice Of Benchmarking And Its Advantages And Disadvantages Introduction Over the years, there has been a tremendous development in benchmarking techniques, in terms of both benchmarking practices and method, which are widely used in different organization to achieve different goals in the developing countries. In this assignment I will discuss the definition of benchmarking and then the use of benchmarking. After that I will discuss the advantage and the disadvantage of benchmarking according the researches and the case studies of benchmarking. Then, I will discuss and analyze the practice of benchmarking to explain why managers find that benchmarking did not live up to their expectation. Finally, the conclusion will have summary of the assignment question. Background of Benchmarking 2.1 Definition of Benchmarking Benchmarking, as the definition of the CEO of Xerox -D.T. Kearns- is the continuous process of measuring the products, the services, and practices against the best competitors or the leader in their industry (Kolarik, 1995). Freytag and Hollensen (2001) states that ‘benchmarking involves measurement of business performance against the best and makes continuous effort in reviewing process practice and method’. This essay is an example of a student's work Disclaimer This essay has been submitted to us by a student in order to help you with your studies. This is not an example of the work written by our professional essay writers. Essay......

Words: 2696 - Pages: 11


...Prices soar on generics Some low-cost generic drugs that have helped restrain health care costs for decades are seeing unexpected price spikes of up to 8,000 per cent, prompting a backlash from patients, pharmacists and now Washington lawmakers. A Senate panel met Thursday to scrutinize the recent, unexpected trend among generic medicines, which usually cost 30 to 80 per cent less than their branded counterparts. Experts said there are multiple, often unrelated, forces behind the price hikes, including drug ingredient shortages, industry consolidation and production slowdowns due to manufacturing problems. But the lawmakers convening Thursday's hearing said the federal government needs to play a bigger role in restraining prices. "If generic drug prices continue to rise then we are going to have people all over this country who are sick and need medicine and who simply will not be able to buy the medicine they need," Vermont Sen. Bernie Sanders, who chairs the Senate Subcommittee on Primary Health and Aging. Sanders is a political independent who usually votes with the liberal wing of the Democratic party. Sanders introduced a bill that would require generic drugmakers to pay rebates to the federal Medicare and Medicaid programs when prices of their medications outpace inflation. Those payments are already mandatory for branded drugs, but have never applied to generics. Last month, Sanders and House Rep. Rep. Elijah Cummings, D-Maryland, sent letters to the makers of......

Words: 350 - Pages: 2


...TITLE: Benchmarking: A general review about the classification, process and pitfall of the model LECTURER: PROF. MADYA DR. RIZAL BIN RAZALLI NAME: ONG YUH KIANG MATRIC NO: 227806 TITLE: Benchmarking: A general review about the classification, process and pitfall of the model LECTURER: PROF. MADYA DR. RIZAL BIN RAZALLI | | | | | | Summary of selected articles Article 1 | Benchmarking: a general reading for management practitioners | Author | Sik, W.F., Cheng, E.W.L., & Ho, D.C.K. | Year | 1998 | Setting/ Place/ Sample | Management Decision, Vol. 36 Iss 6 pp. 407 - 418 | Objectives | Introduce the basics of benchmarking to management practitioners | Analysis | Classification of benchmarking, benchmarking process model, components in a benchmarking project, hints for organization to conduct first time benchmarking project. | Findings | Identify the sources of best practices as a result of assisting in promoting management perspectives and facilitating the formation of various specific goals. | Article 2 | Benchmarking the benchmarking models | Author | Anand, G., & Kodali, Rambabu | Year | 2008 | Setting/ Place/ Sample | Benchmarking: An International Journal, Vol. 15 Iss 3 pp. 257 - 291 | Objectives | To classify the fundamental benchmarking model and the unique benchmarking model, propose a universal benchmarking model which can be applied for all types of benchmarking | Analysis | Benchmarking the benchmarking......

Words: 3835 - Pages: 16

Riordan Benchmarking

...Running head: RIORDAN BENCHMARKING Riordan Benchmarking Research University of Phoenix MMPBL 560 Managing in a Cross-Cultural Environment November 9, 2009 Managing across cultures is no easy task for any organization regardless of its economies of scale or long standing reputation in the market; the challenges are many, including coping with the flux of change, managing diverse groups of employees, communicating, and negotiating agreements with host countries. This paper illustrates how Johnson and Johnson, Allstate, Starbucks, Bank of America, Coca-Cola, Shell, Whataburger, and Sony USA address their cultural diversity. Thus, the authors of this paper analyze, evaluate, and assess the various successful best practices of these organizations to help Riordan Manufacturing’s situation. Riordan Manufacturing’s decision to open a new production facility in China has created some challenges involving the scarcity of Chinese skilled employees. Whereas leadership attempts alternative solutions to synergize the company’s strategies to address the situation, Riordan recognizes that the integration of a diverse workforce has the potential to alter the company’s performance (University of Phoenix, 2009). Accordingly, in analyzing cultural synergy strategies to help mitigate undesirable outcomes takes extra consideration, yet it is a necessary task (Hodgetts, Luthans, Doh, 2005). When reviewing Johnson and Johnson, it is evident that the company struggled......

Words: 4635 - Pages: 19


...Riordan Manufacturing Outsourcing Plan Introduction Riordan Manufacturing (RM) is an established global plastics producer, which employees 550 individuals and their projected annual earnings are $46 million. RM has production divided among three plants. RM’s mission is to focus on achieving and maintaining profit that ensures that the financial and human capital is available to sustain growth. In week three, team C established four potential outsourcing options. Of those four potentials, RM stands to gain the most potential from outsourcing customer relationship management (CRM). This could cover service, sales, and marketing. Services that will be provided include the call center support, field support management, e-Service, campaign management, sales forecasting, account management, and pipeline management. Outsourcing will assist with new government required reporting requirements. CRM will assist RM for future outsourcing projects such as switching over to compatible systems for finance and accounting. Situation Analysis RM is recognized for their innovation and providing customers with new products. An outsourcing plan pertaining to CRM has been established below. The success of the project will be measured by the performance measures; customer satisfaction, marketing, and employee retention. Outsourcing Plan Based on research by RM they have created a cost-effective recognition program that is aimed at motivating employees, increasing retention, and......

Words: 2424 - Pages: 10


...Riordan Manufacturing, Inc. Corporate Compliance Plan Law 531 January 24, 2012 Prof. Dunn MBA, JD Riordan Manufacturing, Inc. Corporate Compliance Plan Compliance Recently under the “Responsible Officer Doctrine”, the law has reacted against unethical officers and directors by making them potentially liable for their decisions. Implementing a Corporate Compliance plan will protect the company as it complies with federal law in an effort to monitor its commitment to upholding values and mission statements. The management team will also promote ethical commitment throughout management and operations. Since Riordan may be affected by government contracts law, participation in the Medicare and Medicaid program, and environmental law, Baker states that it is imperative to implement such plan immediately. Although unlikely, the company also faces threats from changes in intentional violation of copyright law and RICO claims rooted on espionage (p. 1). Riordan Manufacturing As Fortune 1000 international industry leaders in plastic manufacturing, Riordan must implement a plan that will protect help protect its assets and investments. With an impeccable research and development team consistently exceeding expectations the company has managed to use its patented polymer material technique to help customers solve evolving needs for innovative products. With rigorous controls and reasonable pricing the company has had success in manufacturing plastic bottles...

Words: 1162 - Pages: 5