Corporate Compiance Plan

Riordan Manufacturing--Corporate Compliance Plan

Dan Owens

Law 531 - Business Law

September 9, 2010

Jack Eslinger

Riordan Manufacturing--Corporate Compliance Plan

The corporate profile for Riordan Manufacturing as documented in the University of Phoenix’s virtual organization is a global plastics producer with an employee base of 550. The company has a projected annual earnings at $46 million and is owned by Riordan Industries. Riordan Industries is listed as a Fortune 1000 enterprise with revenues in excess of $1 billion. According to Riordan corporate mission statement, 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, California. There are several 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. The purpose of establishing a corporate compliance plan is to prevent and detect violations of law or company policy. Implementing such a plan cannot guarantee that improper employee conduct will be completely eliminated; however, it is ones expectation that the employees will comply with most policy and procedures established in support of a corporate compliance plan. In a 1997 article in the Healthcare Financial Management: Journal Of The Healthcare Financial Management Association, Title Building an Effective Corporate Compliance Plan stated:

Corporate compliance plans are essential for organizations to cope with and perhaps even stave off investigations arising from...