Corporate Compliance Plan

Corporate compliance plan

Corporate compliance plan (CCP) is imperative for organizations that have exposure to corporate compliance threat with respect to legal liabilities. The organization should develop and implement process and procedure to examine the alternatives and incorporate the appropriate opportunities into the system. The Enterprise Risk Management (ERM) system should include risk detective procedures, preventive solution that includes risk mitigation and problem solution procedure that will decide which solution to adopt for the risk in question.

Background and overview

Riordan Manufacturing Incorporated (RMI) is an industry leader in plastic injection molding. “The company was founded by Dr. Riordan, a professor of chemistry, who had obtained several patents relative to processing polymers into high tensile strength plastic substrates. Sensing the commercial applications for his patents, Dr. Riordan started Riordan Plastics, Inc. in 1991.

Initially, the company's focus was on research and development and the licensing of its existing patents, but in 1992 Dr. Riordan obtained venture capital which he used to purchase a fan manufacturing plant in Pontiac, MI. At that time, the company's name was changed to "Riordan Manufacturing, Inc." In 1993, the company expanded into the production of plastic beverage containers when it acquired a manufacturing plant in Albany, GA” (University of Phoenix (2008), Virtual Organization: Riordan Manufacturing).

Corporate compliance plan for Riordan Manufacturing should tailor specifically to plastic design. Ethical standards guide RMI employees and its business practices, management is expected to promote an environment in which ethical business practices and compliance are above reproach and management should lead with integrity.

Riordan Manufacturing’s corporate compliance plan outlines its mission to ensure and be compliant with applicable laws, rules, and regulations to the employees, state, and federal...