Corporate Compliance Plan for Riordan Manufacturing
University of Phoenix Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The following are some of the products produced by Riordan Industries: plastic bottles, fans, heart valves, medial stents, and custom plastic parts (Virtual Organization, 2009). This compliance plan will state the company's legal responsibilities and regulations necessary to continue earning a profit. The plan will address the laws affecting the plastic industry and guidelines to ensure management and employees understand and obey the laws. The focus of the
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According to the National Law Journal, 88% of lawyers prefer mediation as a way of resolving disputes. Mediation is a popular process to resolve conflicts between businesses (Jennings, 2006). Enterprise and product liability 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. The best way to limit the liability to Riordan Industries is to have a panel of managers between the two companies evaluate the risks of Riordan Manufacturing committing criminal acts. The panel should evaluate each step of the manufacturing process to verify compliance to laws, regulations, and criminal acts. An example of criminal activity would be illegal dumping of hazardous waste. The panel should also evaluate work performed by subcontractor's. All subcontractors contracts will be evaluated by the panel. Subcontractor's will be evaluated for possible risks and any past criminal infractions. Federal law states subcontractors are to be monitored by the prime contractor. Understanding the possible criminal risks of subcontractors is vital to the continued
This review will address several issues associated with the legal, business, and ethics related with the case. First, it will address the legality of the case by reviewing the difference between a written and oral contract, and the results of recovering fees. Next, this review will analyze the business effect of the case as it relates to the monetary bottom line and Chuckrow’s attempt to protect his profits. Subsequently, it will highlight the unethical behavior of Chuckrow and its potential effects on future subcontractors’ trust in
Riordan Manufacturing is a large company with facilities in several locations around the world. Riordan Manufacturing is an international plastics manufacturer that currently employs 550 people and operates at around $46 million in sales("Riordan Manufacturing", 2013). As a result of its size, Riordan must have a system that is able to keep track of important information such as employee names and other confidential data. This information should be able to be accessed from other locations as well as the home office. There are other functions that a new and improved HR system could benefit such as inventory tracking or the shipping or reception of products. These
However, lately subcontractor has been put in the spot light because of their lack of responsibility.
1. You recently retired from government contracting work and established a consulting company (fully consistent with government ethics laws and rules, of course) with the primary focus of advising potential government contractors and subcontractors. Mr. Johnny Jones, of The Johnny Jones Flooring and Construction Company has approached you with a question. Jones and his company are potential subcontractors (they, obviously, specialize in flooring) on a federal construction contract worth a little over two million dollars ($ 2,000,000.00) recently awarded to the Jimmy Smith Construction Company (Jimmy Smith, the prime contractor). Neither Johnny nor his company have ever been part of a government contract
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 discovered some problems with their employees; such as an inability to motivate employees and how to reduce the high turnover rate within the company. This was discovered through the Riordan human resources department structure which does not allow employee empowerment and as a result is delaying potential growth due to the unbalanced profits, and reduction in sales.
Riordan Manufacturing is a leader in the plastics manufacturing industry. As a fortune 1000 company, this employer of over 500 employees has not only made an investment into the products that roll off the production lines but most importantly the employees who help produce these products (University of Phoenix, 2013). In addition to the annual salary or hourly compensation these employees receive, Riordan makes additional investments in employees to better their wellbeing inside and outside of work. The complete benefit package offered by Riordan is known as the total
Complete Section 3 of the Service Request SR-rm-022 paper for Riordan Manufacturing.. This section incorporates the transition from design to implementation. Consider revising Sections 1 and 2 based on faculty feedback.
Every organization has their own manufacturing strategy, depending on the type of organization will depend on the strategy to have the best end result. Understanding the strategies and how they are used can help the manufacturing process. Riordan manufacturing is a Fortune 1000 organization which produces multiple products, throughout this paper Team C will explain Riordan’s manufacturing strategy and the details that go into a manufacturing strategy.
Riordan Manufacturing is one of the global leaders in the field of plastic injection molding owned by Riordan Industries. The company employing 550 people with projected annual earnings of $46 million. The corporate headquarters and research and development are located in San Jose, CA. The various manufacturing plants are located in Albany, GA, Pontiac, MI and Hangzhou, China. The company customers include some of the top automotive manufactures, airplane manufactures. From the company financial
Riordan Manufacture visions its future as a growing industry maintaining its integrity with its employee and customer. Most importantly, accumulating and assuring strong financial credibility.
At this time, Riordan Manufacturing has three operating entities in Georgia, Michigan and California. Riordan also has a joint venture in China. Each operating entity keeps independent financials including a general ledger, accounts payable and receivable, order entry, procurement, sales and purchasing history, invoicing and shipping, payroll, and financial reporting. The advantage of having each unit run as its own business is that each unit knows its customers and its relationship with its customers. They are able to establish personal contact with both customers and vendors, report on payments and receivables from these customers, and follow the accounting through to the general ledger. Payroll is handled locally which increases the understanding of shifts, over time, and labor hour accounting. Advantages of local order entry is the fact that the individual unit knows the product or products that it produces and is able to help the customer with the knowledge of the manufacturing process and how it affects the accounting process. Keeping the invoicing and shipping localized is advantageous in that it keeps it cohesive and easy to find errors. The financials will come together from individual manufacturing divisions to form a reliable source of accurate financial reporting; therefore, the
Subcontractor is an independent subcontractor and its entire work team including supervisors, servicemen, repairmen, inspectors and all other persons will be the employees of the subcontractor only and shall never be considered employees of TEPSCO.
Riordan Manufacturing is an industry leader in plastic moldings that specializes in precision medical devices, cooling fans, and custom designs. As of now Riordan Manufacturing has 550 employees, one plastic bottling plant in Albany, Georgia, one custom plastic parts plant in Pontiac, Michigan, and plastic fan parts facility located in Hangzhou, China that actually produces fan part
First, the ethical dilemma itself will be outlined. In the construction industry, it is often necessary for an owner or a construction company to enlist the help of other smaller or more specialized companies in the completion of a project. This practice is known as contracting. When an owner or company, referred to as the contractor, wants to contract out for a job, they will list the job and interested companies will bid for the contract. When arriving at a bid amount, interested companies will estimate