Corporate Compliance Plan
- Submitted by: sjjwolf
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- Category: Science
- Date Submitted: 10/11/2011 10:28 AM
- Pages: 10
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Riordan Manufacturing is a global producer of plastics with projected revenues of 46 million dollars and is a subsidiary of Riordan Industries. The manufacturing company has achieved significant growth since its inception in 1991, with over 550 employees and is now a contender in the international plastics market. With the manufacturing and sale focus on plastic beverage bottles and custom plastic parts, the major customers of Riordan are manufacturers of appliance, aircraft and automotive parts, beverage and bottle makers, and the Department of Defense. Research and development is managed from the corporate headquarters located in San Jose, California, plastic beverage containers are produced at the Albany, Georgia plant, custom plastic parts are produced at the plant in Pontiac, Michigan, and plastic fan parts produced at the facilities in Hangzhou, China (University of Phoenix, 2010).
Riordan’s commitment is that every employee abides to the highest moral and ethical standards of business. The officers and directors are responsible to promote a positive example of sound ethical business principles in their judgment and behavior and apply these standards in executing their duties. The objective of developing and implementing this corporate compliance plan is to instill workforce awareness, understanding, and compliance with all germane policies, regulations, procedures, and laws to the operation of Riordan Manufacturing.
ANALYSIS OF ISSUES
Of the issues that Riordan faces, from employment structure, pay and global relocation, the area that requires the most attention for contingency management is the transfer of the business establishment in China. Riordan made recent strategic changes in order to remain competitive in the fast-paced global business environment and elected to move their operation in China from the Hangzhou site to a location in Shanghai over the ensuing five years (University of Phoenix, 2010). This change demands multiple...
Riordan Manufacturing is a global producer of plastics with projected revenues of 46 million dollars and is a subsidiary of Riordan Industries. The manufacturing company has achieved significant growth since its inception in 1991, with over 550 employees and is now a contender in the international plastics market. With the manufacturing and sale focus on plastic beverage bottles and custom plastic parts, the major customers of Riordan are manufacturers of appliance, aircraft and automotive parts, beverage and bottle makers, and the Department of Defense. Research and development is managed from the corporate headquarters located in San Jose, California, plastic beverage containers are produced at the Albany, Georgia plant, custom plastic parts are produced at the plant in Pontiac, Michigan, and plastic fan parts produced at the facilities in Hangzhou, China (University of Phoenix, 2010).
Riordan’s commitment is that every employee abides to the highest moral and ethical standards of business. The officers and directors are responsible to promote a positive example of sound ethical business principles in their judgment and behavior and apply these standards in executing their duties. The objective of developing and implementing this corporate compliance plan is to instill workforce awareness, understanding, and compliance with all germane policies, regulations, procedures, and laws to the operation of Riordan Manufacturing.
ANALYSIS OF ISSUES
Of the issues that Riordan faces, from employment structure, pay and global relocation, the area that requires the most attention for contingency management is the transfer of the business establishment in China. Riordan made recent strategic changes in order to remain competitive in the fast-paced global business environment and elected to move their operation in China from the Hangzhou site to a location in Shanghai over the ensuing five years (University of Phoenix, 2010). This change demands multiple...