Running head: LAW531 - ASSIGNMENT 6 Riordan Corporate Compliance Plan University of Phoenix Date: March xx, 2009 Subject: Riordan Corporate Compliance Plan To: Riordan Executive Officers and Directors I. Organization Overview In 1991, after obtaining several patents from processing polymers into high tensile strength plastic substrates, Dr. Riordan founded Riordan Manufacturing (University of Phoenix, 2003). In 1993, Riordan Manufacturing, Inc expanded into the production of plastic beverage containers at the organization’s first manufacturing plant in Albany, GA. Today, Riordan Manufacturing has custom plastic parts produced in Pontiac, Michigan and plastic fan parts in Hangzhou, China in addition to …show more content…
c. The Corporate Image Employees are expected to conduct business transaction in a fair and honest manner with the company’s customers, suppliers and competitors. There should be no deceitful business dealings taking place that would be an unfair advantage to the consumer by concealing or manipulating facts of the transaction. 2. Legal Obligations and Compliance a. Market Share Liability Also referred to as “enterprise liability” whereas Riordan Manufacturing parent organization is Riordan Industries can be held jointly liable for action on the basis on being a part of a shared enterprise. b. Product liability Riordan Manufacturing will insure products is free from design and manufacturing defect and each product provide the necessary warranty and consumer protection requirements as determine by state or federal guidelines. c. International Law Riordan Manufacturing will adhere to the rules and principles of the host country that business is conducted in accordance with the International Law and laws of the land. IV. Enterprise Risk Management Enterprise risk management is an approach to assist management to identify and manage uncertainties to obtain positive risk objectives. The ERM framework focuses on the development of a strategy that contains the importance of a risk and internal control
Company employees must be careful that their conduct cannot rationally be construed as a bribe or other inappropriate enticement to perform a business act or improperly influence the recipient.
Enterprise risk management is a technique used by organizations to manage risks that have the potential to affect the company, both positively and negatively, altering
as safety boxes. Currently the company runs two manufacturing facilities, one located in Des Moines, Iowa which manufactures
Riordan Manufacturing is a global plastics manufacturer with facilities located in: Albany Georgia, Pontiac Michigan, Hangzhou China, with a research and development department located in San Jose California. This establishment has produced an annual earning of forty-six million dollars. Riordan Industries, which is the sole owner of Riordan Manufacturing, is a Fortune 1000 enterprise with revenues in excess of one-billion dollars.
Riordan Industries wholly owns Riordan Manufacturing. Because of enterprise liability, when Riordan Manufacturing does not comply with laws and regulations,both Riordan Manufacturing and Riordan Industries are liable. Riordan Industries must ensure that Riordan Manufacturing does not create corporate liability for itself. Enterprise liability is mainly concerned with criminal acts, thus the compliance plan must address criminal law.
Riordan Manufacturing is a global plastics manufacturer and is a subsidiary of Riordan Industries. Riordan Manufacturing has three main production facilities located in Georgia, Michigan and Hangzhou, China. This paper will focus on the manufacturing business and supply chain activities of the electric fan production in Hangzhou China with information on manufacturing strategy, production performance, supplier relationships, forecasting and inventory.
Subsequently Riordan Manufacturing proposes to have higher levels of inventory that allows them in effectively forecasting models for inventory control, production, planning, improving supply chain, and guaranteeing deliveries of Riordan products. Creating a new process design essentially caters for the new supply and demand of Riordan products. Using lean production can help Riordan Manufacturing minimize waste from raw material toward the finished product. Because of the elevated demand for the product, production needs increase (Chase, Jacobs, & Aquilano 2006).
Riordan Manufacturing is a worldwide fortune 1000 enterprise manufacturer of plastics with sole ownership by Riordan Manufacturing Industries. Custom plastic product parts akin to beverage containers and fan parts help generate company revenue of one billion. Riordan development and research carries out at the company’s R&D headquarters location in San Jose, California. Three additional Riordan production plants include locations in Pontiac, Michigan and Albany, Georgia with an international joint venture in Hang Zhou, China. Riordan employs a mere approximate of 550 people with company projections at $46 million a
This proposal has been prepared for Riordan Manufacturing Company by the BSA/375 Learning Team Corporation. We are pleased to provide this proposal and look forward to working closely with members of the Riordan Manufacturing team. After careful analysis and review, we are confident that our recommendations will greatly enhance Riordan Manufacturing and place them firmly in the lead amongst other companies.
Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. There is a plant in Albany, GA that produces plastic beverage containers, a plant in Pontiac, MI that produces custom plastic parts, and a plastic fan parts facility in Hangzhou, China. The corporate office is in San Jose, CA along with the corporations Research and Development Department. Riordan Manufacturing is a subsidiary of the parent company Riordan Industries, Inc. a Fortune 1000 enterprise with revenues in excess of $1 billion (Apollo Group, 2013).
Riordan Manufacturing is a global producer and manufacturer in the global plastics industries and has about 550 people that have a projected annual earning of over $46 million dollars. Riordan has a manufacturing plant located in Albany, GA that is capable of producing plastic beverage containers, another plant that is located in Pontiac MI that is capable of producing custom plastic parts, and another plant located in Hangzhou, China that produces plastic fan parts. The corporate offices and research and development department of Riordan are located in San Jose, California. Riordan Manufacturing is part of Riordan industries Inc.
Riordan Industries, Inc. is a successful Fortune 1000 enterprise with revenues in excess of $1 billion. Our corporate headquarters is in San Jose, California; the manufacturing plants are in Albany, Georgia, Pontiac, Michigan, and Hangzhou, China, which is a joint venture.
Riordan Manufacturing was founded by Dr. Riordan, a professor of chemistry who started Riordan Plastic Incorporated in the year 1991. At first, the company’s main focus was on research and development along with licensing any and all Riordan Manufacturing’s current patents. In 1992 Dr. Riordan bought a fan manufacturing plant in Pontiac, MI. and had the plants name changed to “Riordan Manufacturing, Inc.” In 1993, Dr. Riordan bought another manufacturing plant in Albany, GA and the company expanded into the production of plastic beverage containers. In the year 2000 is when the company took its
The enterprise resource management is a concept that encompasses all the facets of the business and must therefore be made an absolute part of the system. Today all companies are subject to market risks, and also to legal risks. This plan is set out to cover the legal liabilities and risks and the management of legal issues with regard to the enterprise management of Riordan. Primarily the company deals with plastics for example which is having heavy environmental impact and therefore involves compliance regarding its production and use and these change with the countries. In general this plan shall discuss the managing of legal liabilities of the company, its officers and directors and their responsibilities.