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Riordan corporate compliance plan
1 Overview
Riordan Manufacturing, Inc. is a research-driven, innovative company that manufactures various items such as plastic bottles, heart valves, and custom products. Riordan owns several patents relative to processing polymers into high tensile strength plastic substrates. Riordan strives to preserve long-term relationship by maintaining rigorous quality controls, innovative solutions, a responsive business attitude, and reasonable pricing.
2 Problem
A large variety of companies have needs for various plastic pieces both common and novel. This also includes medical supplies which must be manufactured in compliance with FDA regulations. Due to the wide variety, specific nature, and/or regulations of medical supplies consumers are left with the difficult task of trying to locate a company capable of meeting a multitude of needs.
3 Solution
Riordan Manufacturing provides an innovative approach for meeting our consumers’ challenges. Riordan offers a variety of common items such as plastic bottles and fans. Medical supplies, such as heart valves and medical stents, are made under strict compliance with FDA regulations. Riordan does not stop at the currently patented polymer plastic injectables; Riordan is constantly researching and developing better methods and items.
4 Opportunity
According to Dr. Peter Gleick, “US bottled water sales in 2010 are up 3.5% from 2009” (para. 4). As a plastic bottle maker, this provides Riordan an opportunity to supply the demand. In addition to bottled water, many of the same companies also produce lines of soda pop. There are several common sizes for soda pop bottles such as the one and two litter.
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In the US today there are upward of 5,700 registered hospitals and more than 5,000 community hospitals (Kardon, 2010). The majority of these hospitals use heart valves and/or medical stents. The Health Forum LLC on...
Riordan Corporate Compliance
The Purpose of this document is to provide a corporate compliance plan for Riordan Organizations, a publicly traded enterprise with profits in surplus of billions of dollars. Riordan Industries is an organization dedicated to the strictest corporate compliance as relating to implement enterprise risk management in accordance with COSO which represent the Committee of Sponsoring Organization of the Tread way Commission. Riordan Industries is projected to have annual earnings of $46 million and has 550 employees (University of Phoenix). The firm specializes in internationally renowned and patented plastic designs within its four locations stateside and abroad. The following plan is an overview of Riordan to outline the expectations for code of business conduct and ethics. This plan will include a strategy for preventative measures for managing the legal aspects of business pertaining to industry specifics as they relate to Riordan. The plan is designed to address the following legal and ethical topics, "Alternative Dispute Resolution, enterprise liability, product liability, international law, tangible and intellectual property, legal forms of business and governance".
The discussion among the officers of the company will need to address, following all bylaws as well as agreed upon procedures as written during the creation of the corporation. If there is a disagreement or impasse causing an issue from being resolved, alternative dispute resolution (ADR) should be in place to avoid spending additional time and resources. An ADR clause should be added to contracts with Riordan's clients, vendors and, investors. This clause can help