Submitted by: Submitted by mppm001
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Category: Business and Industry
Date Submitted: 02/13/2011 09:08 AM
Running head: RIORDAN CORPORATE COMPLIANCE PLAN
Riordan Corporate Compliance Plan
mppm
University of Phoenix Online- MBA Program
Riordan Corporate Compliance Plan
Riordan Manufacturing is a virtual company with more than 500 employees and $46 million in annual revenues. The company is a subsidiary of Riordan Industries a Fortune 1000 business with more than $1 billion in annual earnings. Riordan Manufacturing is an international business leader in the field of precise plastic/polymer injection molds. Fans, plastic bottles, heart valves, and medical stents are a few of the products in Riordan’s line. Principle customers are in the aircraft, automotive, beverage, healthcare, and appliance manufacturing industries, and the Department of Defense. Corporate headquarters are located in San Jose, California, with production facilities in Albany, Georgia (beverage containers), Pontiac, Michigan (custom parts) and a joint venture facility in Hangzhou, China (fans).
This paper will present a plan to address the compliance issues facing Riordan’s management and serve as a guide to assist managers in their handling of compliance issues. The focus of the plan will be to comply with statutory and regulatory requirements through proactive and preventative measures. This plan will support course of action compliance decisions in a various situations including when there has been an actual violation of the law. Topics covered in this compliance plan will include: management responsibilities and behavior, Alternative Dispute Resolution (ADR), product and enterprise liability, risks and opportunity, international law, governance, and the methods to protect Riordan tangible and intellectual property. The integrated structure presented by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission will be the basis for the Riordan Corporate Compliance Plan.
Enterprise Risk Management - COSO Framework
Chapman (2004) states “According to COSO’s...