Business Law Compliance: Riordan Manufacturing Case Study

1472 Words Jan 9th, 2018 6 Pages
Riordan founded Riordan Manufacturing after obtaining several patents from processing polymers into high tensile strength plastics substrates. Two years later Riordan Manufacturing expanded into the production of drink containers at the company's first plant in Albany, GA. The development of this Corporate Compliance Plan will help to promote a commitment to ethical and moral conduct throughout operations and management.
Enterprise Risk Management "ERM"
Lead by Example
According to COSO "support from the board of directors and senior management is need to get the right focus, resources and attention for ERM" The entire corporation from top to bottom must view risk management as a critical and strategic step towards prosperity. And even though it is not the job of the directors to implement or be a part of risk management activities, they demonstrate clear support for ERM measures. It is up to top management to ensure that the resources are available, the focus is clear and the tone is positive and motivating.
"Rome was not built in a day"
Riordan Manufacturing took many years to build up to it's current level of prosperity and it will take time and effort to implement risk management properties. ERM can be a complex procedure, but it has been proven by experience that if you build on one small step at a time it can be painless and efficient. By taking it step by step they can identify and put into effect key implementations for immediate…

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