Riordan Corporate Compliance Plan
Riordan Corporate Compliance Plan
Riordan Corporate Compliance Plan
Law 531
Riordan Corporate Compliance Plan
Riordan Manufacturing, as a global plastics manufacturing company, has become a pioneer in its industry and has an employment base of approximately 550 people and has an annual earnings projected around $46 million. The company possesses a plant in Albany, Georgia that produces containers for beverage companies, a plant for manufacturing custom plastics in Pontiac, Michigan, and its Hangzhou, China plant develops plastic parts for fans. Riordan’s research and development group holds the title as the industry leader in identifying industry trends in research and development. Research and development activities are performed at Riordan’s corporate headquarters in San Jose, California. Beverage companies, automotive, aircraft, and appliance parts manufacturers and the Department of Defense are clients who can be found at the top of Riordan’s list of customers (University of Phoenix, 2012).
Current Situation
Recently, Riordan Manufacturing has suffered from strategic changes in its marketing and production areas. These types of changes often affect employee retention statistics. If a company wants to be prosperous, it must take care of its employees. Company leaders are worried that their employees may share proprietary information with commercial competitors. Management’s other concern is that substandard wages, lack of advancement opportunity, and conflicting opinions between management and employees may cause employees to leave the company. Three managers have left in the past three months as a result of insufficient wages or substandard incentive packages; therefore, Riordan Manufacturing needs to find a quick solution to its problem. Anticipated deadlines and milestones could be jeopardized if the company fails to address these issues. (University of Phoenix, 2012).
Management needs to have a full understanding of the key leaders’ roles in order to
Riordan Corporate Compliance Plan
Law 531
Riordan Corporate Compliance Plan
Riordan Manufacturing, as a global plastics manufacturing company, has become a pioneer in its industry and has an employment base of approximately 550 people and has an annual earnings projected around $46 million. The company possesses a plant in Albany, Georgia that produces containers for beverage companies, a plant for manufacturing custom plastics in Pontiac, Michigan, and its Hangzhou, China plant develops plastic parts for fans. Riordan’s research and development group holds the title as the industry leader in identifying industry trends in research and development. Research and development activities are performed at Riordan’s corporate headquarters in San Jose, California. Beverage companies, automotive, aircraft, and appliance parts manufacturers and the Department of Defense are clients who can be found at the top of Riordan’s list of customers (University of Phoenix, 2012).
Current Situation
Recently, Riordan Manufacturing has suffered from strategic changes in its marketing and production areas. These types of changes often affect employee retention statistics. If a company wants to be prosperous, it must take care of its employees. Company leaders are worried that their employees may share proprietary information with commercial competitors. Management’s other concern is that substandard wages, lack of advancement opportunity, and conflicting opinions between management and employees may cause employees to leave the company. Three managers have left in the past three months as a result of insufficient wages or substandard incentive packages; therefore, Riordan Manufacturing needs to find a quick solution to its problem. Anticipated deadlines and milestones could be jeopardized if the company fails to address these issues. (University of Phoenix, 2012).
Management needs to have a full understanding of the key leaders’ roles in order to
References: Cheeseman, H. R. (2010). Business law: Legal environment, online commerce, business ethics, and international issues (7th ed.). Upper Saddle River, NJ: Prentice Hall. COSO. (2012). Internal Control - Integrated Framework. Retrieved October 28, 2012 from http://www.coso.org/documents/Internal%20Control-Integrated%20Framework.pdf Jennings, M.M., (2006). Business it’s legal, ethical, and global environment. Retrieved October 28, 2012 from http://2ra.weebly.com/uploads/2/5/9/0/2590681/business_its_legal_ethical_and_global_environment_9th_edition.pdf Murner, C. (2006). PLASTICS, ELECTRONICS THE ENVIRONMENT. Plastics Technology, 52(10), 56. Retrieved October 28, 2012 from http://ehis.ebscohost.com/eds/pdfviewer/pdfviewer?sid=55dbe9db-1edb-455f-bd76-4f6fda6f096b%40sessionmgr4&vid=5&hid=1 OSHA (2012). OSHA Law & Regulations, Retrieved October 28, 2012 http://www.osha.gov/ University of Phoenix. (2012). Riordan Manufacturing Retrieved October 28, 2012 from https://ecampus.phoenix.edu/secure/aapd/