Enterprise Risk Management Plan for Riordan Manufacturing

Topics: Management, Dispute resolution, Business ethics Pages: 2 (470 words) Published: November 10, 2010
I. Organization Overview

In 1991, after obtaining several patents from processing polymers into high tensile strength plastic substrates, Dr. Riordan founded Riordan Manufacturing (University of Phoenix, 2003). In 1993, Riordan Manufacturing, Inc expanded into the production of plastic beverage containers at the organization is first manufacturing plant in Albany, GA. Today, Riordan Manufacturing has custom plastic parts produced in Pontiac, Michigan and plastic fan parts in Hangzhou, China in addition to the Albany, GA plant. Riordan’s customers include automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers (University of Phoenix, 2003).

II. Corporate Compliance Overview

Riordan Manufacturing has created a Corporate Compliance Plan customized to the organization’s specialized field of plastic designs. Riordan is committed to managing and operating the organization programs with the utmost degree of business, ethical and moral principals. Employee expectations are to contribute to the business functions of the organization with integrity and ethical standards. Management contributes to achieve these standards by demonstrating leadership, integrity and being a role model to employees to promote an environment which compliance and ethical business practices are expected.

III. Enterprise Risk Management Plan

Compliance is adhering to established standards that are set forth within the organization. The mission of the corporate compliance plan for Riordan is to insure awareness and compliance with applicable laws, rules and regulations to the workforce, that include federal and state programs, fraud, waste and abuse, ethics, privacy and security requirements. I have used the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework as a guide for recommendations regarding internal controls and corporate governance.

The goal of...
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