...Riordan Manufacturing Corporate Compliance Plan LAW 531 – Business Law Facilitator: Gregory Schumacher March 30, 2009 University of Phoenix – Online Campus Riordan Manufacturing Corporate Compliance Plan Riordan Manufacturing, Inc. has been an industry leader in the plastics molding industry for nearly 20 years, and its success has been built on a formula of state-of-the-art research and development, strong customer relationships, and innovative, team-oriented employees. The current economic environment, state and federal regulations, and legislative statues present challenges to Riordan that require implementation of strong methods for organizing risk management responsibilities and activities. To achieve business objectives and continued competitive advantages, Riordan must structure risk management responsibilities and activities using a formalized process. The Enterprise Risk Management (ERM) process will ensure identified risks are properly assessed, controlled, and monitored throughout the company to reduce Riordan’s exposure to legal liabilities. This compliance plan outlines the ERM process for Riordan following the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework recommendations on critical aspects of organizational governance, business ethics, internal control, enterprise risk management, fraud, and financial reporting. Enterprise risk management deals with risks and opportunities that affect business value, negatively or positively...
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...Riordan Corporate Compliance Plan Susan Holmes, Marcia Kelly, Peter Flores, Ronald Cox, Celeste Mellett, and Orlinda Watson, LAW/531 April 9, 2012 Instructor Name: Thane Messinger Understanding the position companies must take to protect the interests of investors and employees, the organization must have compliance plan in place. The compliance plan must address every possible liability that can bring financial and physical harm to the company. The organization must work with each department to understand the risks involved with each job. Knowing the risks and working to help the employees understand what those risks are and will help keep the employee minimizing risks of the organization. The compliance plan helps list the goals Riordan Manufacturing established to ensure the employees know the correct steps to comply with the laws and regulations. Legal Risk Exposure and Responses Traditionally, Riordan Manufacturing Company legal counsel interacts primarily with executive management and the board of directors to report on existing, pending, and probable litigation. Although this responsibility continues to be critical, it is imperative that there be an increased presence of legal counsel to the internal organization. It is important for counsel to act as an internal company consultant to help reduce legal risks. Activities include circulating existing legal risks status data, consulting internal management, acting as a sounding board for staff to...
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...Riordan Corporate Compliance Plan University of Phoenix LAW 521 William Eshelman February 19, 2012 Riordan Corporate Compliance Plan “The low end of the range without an effective program can be higher than the high end of the range with an effective program” (Youngberg, 1998). Statements such as this are exactly why a comprehensive compliance plan should be in place for any successful organization. Financial penalties are implemented for lack of compliance plans. There are various methods and calculations used to determine the amount of these fines. These penalties are lowered and can even be offset in some cases with a good compliance plan in place. Instituting a corporate compliance plan is also a viable tax deductible. To address Riordan’s possible liabilities, we must be sure of its ability to implement the plan in opposed to the risks of the violation. It could prove more difficult and cost ineffective if it is difficult to adhere to the plan. To implement a compliance plan effectively, an internal audit is necessary. Some points to consider during this audit are: a. Size of our organization b. Involvement of board directors and execs c. Company resources available to implement this plan This proposed plan is for all employees. Compliance with the program starts with the officers and directors of Riordan. All employees of Riordan are expected to follow the set standards. The administration of Riordan is no exception to the set standards. This...
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...Team My Portion Week 5 Riordan Manufacturing Enterprise Resource Plan BSA 400 June 18, 2012 John Shrewsbury Riordan Manufacturing Enterprise Resource Plan Riordan products are manufactured to the highest quality standard that have satisfied customers since 1991, and was founded by a chemist name Dr Riordan. Currently Riordan Manufactures headquarters are located in San Jose, California with three plants that are located in Albany, Ga., Pontiac, MI., and Hangzhouz, China. Each plant is responsible for different production lines. The R & D department which is located at headquarters is responsible for the research of medical equipment. Albany, Ga. Plant is responsible for the production of plastic bottles. Pontiac, MI. is responsible for the production of custom plastic fabrication. Hangzhouz, China is responsible for the production of electric fans. With each plant having a different inventory and a different production line, Hugh McCauley, COO, and Mark Neitzel, VP Operations submitted a service request for an Enterprise Resource Plan so that all information that is generated throughout the different locations integrated into one computer system. With this service request, it would allow visibility of all raw materials, and finished product inventory. Statement of Scope and Goals Project Overview Riordan Manufacturing desires a new ERP (enterprise resource planning) system to replace the existing computer systems. The COO, Hugh McCauley, and by the VP of Operations...
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...Riordan Manufacturing System Kao Yang, Tiara Smith, Greg Scott, Thomas Adams BSA 310 December 5, 2013 Oswald Angst Riordan Manufacturing System Riordan Manufacturing was founded with the intention to provide patents for processing different types of plastic. The founder, Dr. Riordan, already had several of these patents ready for licensing. While in possession of these patents, the company would be able to provide a unique product to its consumers. Alternatively, the company could charge other businesses simply for the use of their patented plastics. The initial business strategy revolved around research and development to take advantage of their patents and generate revenue through licensing. Riordan's business plan expanded and adopted production when the company opted to purchase a manufacturing plant. Riordan Manufacturing use this plant to produce plastic containers and custom plastic parts. The home page for Riordan Manufacturing provides a company overview as well as several links to important resources for employees. The company goals and expectations are clearly presented, as well as a brief history about the company. It could be seen as a human resources system to help employees find more information regarding their position. Additionally, it can be used to review the business plan for each aspect of the company to include: finance, sales, human resources, operations, legal or information technology. Riordan Finance Systems Riordan Manufacturing’s...
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...Riordan Corporate Compliance Plan Learning Team B Veronica Garcia Maribel Rojas Lorena Soto LAW/531 July 23, 2012 Roger Rodriguez Abstract The use of university resources and materials allows teach team members to create Riordan’s Corporate Compliance Plan. In the compliance plan students address the lawful responsibility of Riordan’s executives and presents solutions to situations, which laws have been violated and consequently propose corrective actions. Moreover, the compliance plan study includes relevant information, which further discusses Riordan’s enterprise liability, real, and intellectual property, the governance principles of regulatory compliance as well as international laws or aspects of such that Riordan must adhere to. Riordan Corporate Compliance Plan Riordan’s corporate compliance plan is not only essential but also critical to be in compliance with rules and regulations. The main focus of a corporate plan is essentially to focus on how the lawful responsibility of the executives of Riordan will manage and address situations that may arise. The compliance plan will also focus on what decisions need to take position when laws are not in compliance, when legal council is important and will establish what rights employees have and who individuals may turn to when actions are taken against the organization. Riordan Manufacturing has executed a business fulfillment plan designed accordingly to the organization’s areas...
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...Introduction There currently is not a comprehensive view of the existing and needed business systems of Riordan manufacturing (Smith Services Consulting Inc., 2011). The management of Riordan Manufacturing has submitted Service Request SR-rm-012 – Business Systems to have Smith Consulting create a summary of the business systems needed for effective management. Technical Team Bravo will begin with an overview of the current systems that exist in the areas of Finance and Accounting, Payroll and Human Resources, Information Technology, and Sales and Marketing. For each area covered, Technical Team Bravo will describe the business systems and subsystems used, identify who uses them, identify interrelations between business systems and subsystems, and include any noted disparities. Technical Team Bravo will conclude with a summary of suggestions for a systems plan to improve management (Smith Services Consulting Inc., 2011). Accounting Systems Riordan Manufacturing currently has six Enterprise Resource Planning (ERP) and Manufacturing Resource Planning (MRP) systems throughout four locations. These servers are accessed at the local level by 16 clients (PC’s.) The current challenge to management is the disparate systems and inconsistencies with respect to reporting capabilities and collaboration. Management needs to consolidate these systems into one Cloud-Based ERP/MRP solution that can handle real-time inventory management controls, and comprehensive, robust reporting tools...
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...Corporate Compliance Plan for Riordan Manufacturing October 19, 2009 Riordan Manufacturing is a profitable company generating large amounts of revenue for Riordan Industries. This compliance plan will outline the company’s legal processes and standards to ensure the company will be able to continue to operate and remain profitable in the future. The plan will address the laws that affect the company and provide a guideline for ensuring employees adhere to these laws. Riordan Manufacturing was started in 1991 by Dr. Riordan. He started the company by developing a process for turning polymers into high tensile strength plastic substrates. He patented these processes. In 1992 he purchased a manufacturing plant that made fans and started to get into the manufacturing business instead of just research and development. In 2000 the company started to venture out and expanded into China. This plan will outline an Alternative Dispute Resolution (ADR) for the company to use to keep them on track with their mission. Then discuss enterprise and product liability. Briefly discussed will be issues with international law and how those laws affect the expansion into China. The paper will cover tangible and intellectual property, legal forms of business as well as governess. The paper will also cover enterprise risk management as outlined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). It will conclude by wrapping up with a discussion on laws that Riordan must follow...
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...Riordan Manufacturing Wayne D. Lewis, Kylie Guillotte, Michael Schuldaski, Robert Phelps University of Phoenix Riordan Manufacturing Riordan Manufacturing owned by Riordan Industries is a Fortune 1000 company and a world leader in using polymer materials to provide solutions to major businesses in the automotive parts manufacturing industry, aircraft manufacturing and the Department of Defense. Riordan Manufacturing is dedicated to being a leader in research and development (R&D) while setting the trends within the industry by the hiring and training of qualified personnel focused on creating a strong long term relationships with customers by providing solutions that meet their needs. This focus must be maintained to ensure the success, profitability and continued growth of Riordan Manufacturing as an industry leader. Riordan Manufacturing corporate headquarters is in San Jose, California with plants in Albany, Georgia, Pontiac, Michigan and Hangzhou, China. The company acquired several of its assets through planned expansions and acquisitions. This growth has left Riordan Manufacturing with three separate operating organizations in Georgia, Michigan and California. There is also a joint project with the People’s Republic of China managed of the Hangzhou facility with its own operational and financial concerns. Each organization operates on different finance and accounting. This is one of the challenges Riordan Manufacturing faces with the financial and accounting departments...
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...Riordan Manufacturing Service Request Team B BSA/310 Steve Johnson February 21, 2012 Riordan Manufacturing Service Request Introduction The Riordan Manufacturing Company is an industry leader in plastics manufacturing and has earned international acclaim for its state-of-the-art plastic designs since 1991. Riordan Manufacturing is a company owned by Riordan Industries. “Riordan Manufacturing currently employs 550 people, and has manufacturing plants in Albany, Georgia, Pontiac, Michigan, and Hangzhou, China, and Corporate Headquarters in San Jose, California” (Apollo Group, Inc., 2006). They have taken the lead for the past 20 years in their design of products such as plastic bottles, fans, heart valves, and medical stents. As the company has expanded over the past few years, their business systems have expanded as well. This review analysis will identify existing system and subsystems for Riordan Manufacturing, Inc., and provide recommended system solution software, hardware and applications to improve current business processes and standards. Home Page Optimization In view of Riordin’s electronic information presence, the Web site Home page displays a meaningless banner that lends the company to twentieth-century technology. It provides no Web market presence. Optimization of the Riordin Web site Home page needs to be the focal point of their business system and sub-system upgrade. Now, companies have realized that database...
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...rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww principles of business management studied throughout the course. The paper will be focus on managing the legal liability of the company and addressing alternative dispute resolutions, enterprise liability, and international law, tangible and intellectual property, legal form of business and governance. This compliance plan will be structured...
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...Riordan Corporate Compliance Plan LAW/531 3/4/2012 Marlene Wilhite Table of Contents I. Internal Environment II. Mission Statement/Objective Setting III. Code of Business Conduct a. Legal obligations and compliance b. Enterprise liability c. Real and Intellectual Property IV. Board Member Code of Ethics a. Selection of Board b. Board Leadership c. Composition and Performance d. Board Meeting Etiquette and Proceedings V. Control Activities a. Governance principles of regulatory compliance b. International Laws c. Steps to adhere to international laws VI. Legal Counsel VII. Reporting Violations Internal Environment As an industry leader in global plastics manufacturing Riordan must remain on the forefront of internal controls and corporate compliance. This plan has been assembled to form a strategic corporate compliance plan for the board of directors. The Committee of Sponsoring Organizations defines Enterprise Risk Management as the following: “Enterprise risk management is a process, effected by an entity’s board of directors, management and other personnel, applied in strategy setting and across the enterprise designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite...
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...Corporate Compliance Plan for Riordan Manufacturing University of Phoenix Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The following are some of the products produced by Riordan Industries: plastic bottles, fans, heart valves, medial stents, and custom plastic parts (Virtual Organization, 2009). This compliance plan will state the company's legal responsibilities and regulations necessary to continue earning a profit. The plan will address the laws affecting the plastic industry and guidelines to ensure management and employees understand and obey the laws. The focus of the compliance plan will be on managing the legal liabilities of Riordan officers and directors. Riordan Manufacturing was started and founded by Dr. Riordan, a professor of chemistry. The company focused on research and development of plastic substrates. In 1992 the company purchased a fan manufacturing plant in Pontiac, Michigan. In the year 2000, the fan operation was moved to China. The corporate headquarters that include research and development is located in San Jose, California. Plastic beverage containers are produced in Albany, Georgia and custom plastic parts are produced in Pontiac, Michigan (Virtual Organization, 2009). The compliance plan will include an Alternative Dispute Resolution (ADR) to resolve a dispute, product liability to address...
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...Riordan Corporate Compliance Plan Riordan Manufacturing Riordan Manufacturing is a global plastics producer with an employee base of 550. The company has projected annual earnings at $46million and is owned by Riordan Industries. There are different segments of the company but the major customers are the automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers, bottlers, and appliance manufacturers. The company has recently undergone some strategic changes in manufacturing and marketing. Some of those recent changes are beginning to effect employee retention numbers. Situation Analysis Riordan Manufacturing has many issues and opportunities laid before them. The company must identify the proper issues in order to make the right adjustments. For the company to prosper, they must first take care of their employees. Issue Identification There are a myriad of issues that exist for Riordan Manufacturing. The company has gone through some recent structural changes because of the ever changing industry. Riordan decided to switch from an individual sales model to a team-based sales model. The issue with the above is that the individuals are used to being compensated solely based on their own performance; now there is apprehension about compensation at the team rate. Another issue is just the pay itself. Some managers are concerned that employees may take proprietary information and share it with competitors after leaving the company. Higher...
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...Running head: Human Resource System Executive Summary In 1992, Riordan Manufacturing Inc., implemented and established human resource information system (HRIS), which was included as part of a financial package. The HRIS package included functions such as maintaining personnel information, pay rate and tax information, hire and seniority dates, vacation leave for non-exempt employees, and organizational information. However, certain areas of the HRIS could be improved upon and developed. One area that needs improvement is the network communications between headquarters and all the Riordan plants. Improvements are also needed in central repository, resume storage, maintaining training and knowledge skills information, online employee user interface, and a central location for updating and maintaining employee personal and professional information. Improving the current HRIS activities would be advantageous to Riordan leadership and their employees. Hugh McMCauley, the COO for Riordan Manufacturing requested that the human resources (HR) system be analyzed to integrate the existing variety of tools in use in the present day to a single integrated application. The request will take advantage of a more sophisticated look for information systems technology in the HR department at Riordan Manufacturing. After the project is to be completed, Riordan Manufacturing will then be left with a detailed project plan that will provide a list of tasks, resources, schedule and budget required...
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