Environmental Regulation is perhaps the most stringent area of government’s regulation in business. The government imposes great technology investment demands on the industry for regulatory compliance. One single act of irresponsibility can cost businesses greatly or be forced to close (Business Regulation Simulation, 2009). It is important to identify, manage, and correct torts and regulatory risks for Alumina, Inc. so legal issues do not arise in the future. Alumina, Inc. is a $4 billion dollar
Words: 300 - Pages: 2
Running Head: Recognizing and Minimizing Tort and Regulatory Risk Plan Recognizing and Minimizing Tort and Regulatory Risk Plan LAW/531 September 29, 2010 Introduction Alumina, Inc. makes aluminum products and has revenues of over $4 Billion Dollars. The company is based in the United States (US) with operations in eight other countries around the world. The US accounts for 70% of Alumina’s market share. Alumina has business interests in automotive components and manufacture packaging
Words: 1581 - Pages: 7
Running head: BUSINESS REGULATION SIMULATION Business Regulation Simulation Bernice Davis Business Law LAW531 September 19, 2011 Alumina Inc. is a business that has “interests in automotive components and manufacture of packaging materials, bauxite mining, alumina refining, and aluminum smelting” (University of Phoenix, 2011). Five years ago, Alumina Inc. was in violation of environmental discharge due to a failed PAH concentration test that was above the prescribed limit (University
Words: 858 - Pages: 4
Recognizing and Minimizing Tort and Regulatory Risk There is an imminent necessity for organizations to recognize and prevent torts. In the following essay we will find the analysis of a simulation for a company called Alumina, indicating the legal matters and risks they are taking. Also we will discuss a preventive plan for a company in Puerto Rico and how the Puerto Rican government treats torts and regulations. The simulation of Alumina, is very interesting. This fictitious company is accused
Words: 1094 - Pages: 5
Recognizing and Minimizing Tort and Regulatory Risk Plan In this day and age and especially in this economy, the laws and regulations carry severe penalties, fines, damages and in some cases jail time. Therefore companies like Alumnia should be aware of current compliance of regulations, that way they can adjust their business practices accordingly and minimize exposure to tort liabilities as a result of not complying with regulations. Five years ago the EPA conducted a routine compliance evaluation
Words: 616 - Pages: 3
the company needed to come up with a plan to manage torts and regulatory risks. Common business torts include intentional torts, unintentional torts (negligence) and strict liability. Intentional torts refer to actions that are taken with the intent to cause injury to the plaintiff. Unintentional torts, or negligence, refer to actions that are not taken to directly harm someone but where harm is a foreseeable consequence. The third type of tort is strict liability which means liability without any
Words: 1118 - Pages: 5
Running Head: Business Simulation Business Regulation Simulation LaToya Brown Law 531 Gale Francis July 19, 2010 Alumina is a $ 4 billion aluminum maker. Based in the United States; Alumina operates in eight countries around the world, with the U.S. accounting for 70% of its sales. Alumina has business interests in automotive components, bauxite mining, aluminum refining, and aluminum smelting. Alumina falls under the jurisdiction of region 6 with the
Words: 1037 - Pages: 5
which you identify potential tort | | | | |risks that arose in the Business Regulation simulation. Identify a tort violation from the | | | | |simulation. Then use the 7-step process as defined in the Harb article to apply the risk | | | | |management process to mitigate the business risk associated with that violation
Words: 1021 - Pages: 5
Enterprise Risk Management (ERM) provides a framework of planning, organizing and controlling activities that made by organizations in order to manage and minimize the effects or risk on the organization’s capital and earnings. ERM is also associated with accidental losses, which include financial, strategic, operational, and other risks. Every organization must follow all the local, state, and federal laws they must also comply with Environmental Procreation Agency (EPA). Alumina Incorporation is
Words: 306 - Pages: 2
ERM Paper The business regulation simulation presented involves Alumina Inc., a United States based aluminum manufacturing corporation located on the fringes of Lake Dira. Alumina was discovered to be in violation of environmental discharge norms following a routine EPA compliance evaluation inspection five years ago. The company subsequently corrected this violation and has since enjoyed a good overall environmental compliance record. This paper will identify potential tort risks resulting from
Words: 1276 - Pages: 6
