...Riordan Manufacturing Corporate Compliance Plan Riordan Manufacturing has three operating sites; Georgia, Michigan and California. Riordan Manufacturing was founded by Dr. Riordan. With a background in chemistry; Dr. Riordan acquired numerous patents pertaining to creating plastic goods. This paper will focus on a corporate plan for Riordan Manufacturing. Riordan Manufacturing Corporate Compliance Plan will include managing the legal liability of officers and directors of Riordan Manufacturing. Also The Corporate Compliance Plan will address the laws pertaining to Riordan Manufacturing, the rights Riordan Manufacturing employees have and how and who to turn to in case a lawsuit is brought against Riordan Manufacturing. In order for Riordan Manufacturing to be in compliance; Riordan Manufacturing must adhere to all laws set by the government. An Internal controls and corporate governance system will help Riordan Manufacturing executives make sure that all employees working for Riordan Manufacturing obey all government laws and industry practices when conducting company assigned duties. An Internal controls and a corporate governance system ensures that Riordan Manufacturing policies, procedures, and government laws are followed. An effective enterprise liability starts with Riordan Manufacturing take responsibility for wrong doings that happen within Riordan Manufacturing. In order to prevent any wrong doings Riordan Manufacturing must ensure all company workplace...
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...Corporate Compliance Plan: Riordan Manufacturing Law/531 Charles Cook February 21, 2011 Corporate Compliance Plan: Riordan Manufacturing Riordan Manufacturing Inc.(RM Inc.), established in 1991 by Dr. Riordan, developed quickly as a leader within Research and Development (R&D) and sales of plastic products. Clients, such as the Department of Defense, automotive segment manufacturers, multi-commerce transportation, and packaging plants. RM Inc. is competitive in multiple countries within the plastic mold industries. This positing within foreign customers leads the way for RM Inc. to expand across the boarders and develop further on many levels. To remain a respected leader within the multiple industries a strong corporate compliance plan is necessary. Prevention and management guidelines To ensure Riordan Manufacturing remains both ethical and on the right side of the law, preventative measures taken by all employees of RM, Inc. shall keep everyone accountable. Additionally, compliance with both federal and state regulations and foreign standards are imperative to follow. The focus of the compliance plan will demonstrate the commitment to compliance, along with laying down the required standards and the practices exceeding legal obligations. The company will adopt a proactive role in compliance issues to protect Riordan's interests, employees, environment, and the stakeholders. A compliance culture is likely to result in a higher level of compliance performance...
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...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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...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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...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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...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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...Risk-Management Guidance" article and the Riordan Virtual Organization located on the student website, and the Committee of Sponsoring Organizations of the Treadway Commission (COSO) website at www.coso.org. Read the article "Using the New COSO Risk-Management Guidance". Read The Executive Summary of the article Enterprise Risk Management — Integrated Framework at the COSO website: • On the home page, click the Guidance tab. • Select the Enterprise Risk Management link. • Click MORE. • Select the Download (English) the free executive summary link. Research additional information in the Guidance and Resources sections at the COSO website. View the Riordan virtual organization. Create a corporate compliance plan consisting of no more than 2,450 words for Riordan. Focus your plan on managing the legal liability of officers and directors of Riordan. The plan must also address how to handle situations when laws are violated or in question (such as when to call in legal counsel, what rights the employees have, or who to turn to when actions are taken against Riordan). Your plan must also include the following: • Enterprise liability • Real and intellectual property • Governance principles of regulatory compliance requirements • The specific international laws or aspects of the law that must be adhered to by Riordan and an outline of these steps for employees to adhere to these laws Format your Corporate Compliance Plan as if you were going to distribute...
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...Riordan Corporate Compliance Plan Law 531 Riordan Corporate Compliance Plan Riordan Manufacturing, as a global plastics manufacturing company, has become a pioneer in its industry and has an employment base of approximately 550 people and has an annual earnings projected around $46 million. The company possesses a plant in Albany, Georgia that produces containers for beverage companies, a plant for manufacturing custom plastics in Pontiac, Michigan, and its Hangzhou, China plant develops plastic parts for fans. Riordan’s research and development group holds the title as the industry leader in identifying industry trends in research and development. Research and development activities are performed at Riordan’s corporate headquarters in San Jose, California. Beverage companies, automotive, aircraft, and appliance parts manufacturers and the Department of Defense are clients who can be found at the top of Riordan’s list of customers (University of Phoenix, 2012). Current Situation Riordan Manufacturing has recently suffered some strategic changes in the production and marketing areas. There are times when these types of changes begin to affect employee retention numbers. In order to make a business prosper, the company must take care of their employees. These leaders are concerned that employees might have private information and share it with commercial competitors. The other issue is that management is troubled that employees may leave because...
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...RUNNING HEAD: Riordan Corporate Compliance Plan Gregory L. Flanders Business LAW 531 Professor Linda Fried 17 July 2011 Corporate Compliance Plan Date: July 18, 2011 Subject: Riordan Corporate Compliance Plan To: Riordan Executive Officers and Directors I. Introduction Riordan Manufacturing was founded in 1991 with patent awards from processing polymers into strong plastic substrates. 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 products include plastic beverage containers produced at the plant in Albany, Georgia, custom plastic parts produced at the plant in Pontiac, Michigan, and plastic fan parts produced at the facilities in Hangzhou, China. The company's research and development is done at the corporate headquarters in San Jose. Riordan’s major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers (University of Phoenix, 2003). II. Corporate Compliance Overview Senior leadership for Riordan Manufacturing, Inc. created a corporate compliance plan tailored to the corporation’s specific areas of plastic research and development, design, and manufacturing business. Riordan’s policies set forth in this document applies equally and legitimately to each employee without any regard to...
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...Corporate Compliance Plan Introduction Having a good corporate compliance plan is essential to all businesses. Without an effective plan a business will have no clear direction. With no direction a business will surely be in legal turmoil. Once in legal turmoil, a business will fail. Business Overview Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Its products include plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan, and plastic fan parts produced at its facilities in Hangzhou, China. The company's research and development is done at the corporate headquarters in San Jose. Riordan's major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers. Legal Liability of Administration Riordan Manufacturing’s Corporate Compliance 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. The Corporate Compliance Plan will focus on the liability of the officers and directors of Riordan Manufacturing. Legal Options When legal...
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...Running head: CORPORATE COMPLIANCE PLAN 1 Corporate Compliance Plan Business Law/ LAW 531 MJ Meade June 25, 2011 Judge Gregory P. Holder CORPORATE COMPLIANCE PLAN 2 Corporate Compliance Plan for Riordan Manufacturing Date: June 25, 2011 To: Riordan Executive Officers and directors Subject: Corporate Compliance The Board of Directors and the Chief Executive Officer of Riordan Manufacturing are devoted to ensure high ethical standards and compliance with the laws in all areas and services provided by Riordan Manufacturing. To guarantee operations are conducted, in agreement with the laws and the uppermost of ethical principles, a compliance plan is put in place and required to be enforced. Company Overview and Structure Riordan Manufacturing is an international plastic manufacturing company with more than 500 employees and our headquarters are in San Jose, California. Our goods include plastic beverage containers created in the Albany, Georgia plant. Custom plastic parts are produced at the plant in Pontiac, Michigan, and plastic fan parts are produced at our new amenities in Hangzhou, China. Our company's research and development is conducted at the corporate headquarters in San Jose. Riordan's major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers, and bottlers...
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...Introduction The paper provides an overview of the Riordan Manufacturing Company and explains the purpose of the Corporate Compliance Plan. Next, the paper emphasizes four main issues which are Enterprise and Product Liability, Real and Intellectual Property, Governance and International Law related to Riordan's situation. The paper concludes with the Riordan's future legal responsibilities that can affect workforce productivity, customer relationships and customer relationships. 1. Organization Overview Owned by Riordan Industries, Riordan Manufacturing is an international plastic manufacturing company specializes in manufacturing plastic parts for the beverage manufacturing industry, automotive industry, and fan manufacturers with its headquarters lodged in California. After its foundation by Dr. Riordan in 1991, Riordan Company has tried to expand its capability in terms of production of plastics and beverages containers. The company has increased its level of productivity and opened a number of new manufacturing branches in Albany, Michigan, Pontiac, and China, Hangzhou. Riordan's product line includes plastic beverage containers produced at the plant in Albany, Georgia, custom plastic parts are produced at the plant in Pontiac, Michigan, and plastic fan parts produced at the newest facilities in Hang Zhou, China. Riordan's major clients are automotive parts and aircraft manufacturers, the Department of Defense, beverage makers and bottlers and appliance manufacturers...
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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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...Riordan Corporate Compliance Plan LAW/531 June 11, 2012 James Mc Phail Riordan Corporate Compliance Plan Riordan Manufacturing, Inc. Riordan Manufacturing is a global and international company that produces and sells plastic parts for the beverage manufacturing industry, automotive industry, aircraft manufacturers, and fan manufacturers. Riordan owns four major facilities in the United States Albany, Pontiac, Michigan, and Georgia. In addition, one joint venture located in China, in the town of Hangzhou. Riordan headquartered in San Jose, California is responsible for the creation of new designs, research, and development. The company employs 550 people worldwide, with annual earnings of $46 million. Enterprise liability Riordan currently maintains a corporate compliance plan. However, the company should improve the governance system to manage, control, and protect the company stakeholder’s assets efficiently against potential legal threats. Riordan should implement a strong corporate governance meeting structure that will allow conformance and compliance of new regulations and legal requirements. The implementation of procedures and corporate policies will help the employees to focus and will prevent compliance violations. Both officers and employees must comply with applicable laws and guidelines provided in the corporate policies. Regular reviews of the following governance committees will help to manage the liability of the directors...
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