Riordan Corporate Compliance Plan

Topics: Management, Business ethics, Corporation Pages: 7 (2043 words) Published: October 31, 2009
Riordan Corporate Compliance Plan
University of Phoenix

Riordan Manufacturing was founded in 1991 with patent awards from processing polymers into strong plastic substrates (University of Phoenix, 2003). In Albany, Georgia, the organization’s first manufacturing plant saw growth through the production of plastic beverage containers in 1993. Today, Riordan Manufacturing has custom plastic parts produced in Pontiac, Michigan as well as plastic fan parts in Hangzhou, China. Aircraft and auto part manufacturers are some of Riordan’s clientele. Riordan also has numerous manufacturing contracts with the Department of Defense, beverage makers and bottlers, and appliance manufacturers (University of Phoenix, 2003). Corporate Compliance Overview

Heads of Riordan Manufacturing created a Corporate Compliance Plan tailored specifically to plastic designs. Ethical standards guide Riordan’s business practices and its employee expectations. In it, management is expected to lead with integrity and to promote an environment where compliance and ethical business practices are above reproach. Riordan’s corporate compliance plan outlines its mission: to ensure awareness and compliance with applicable laws, rules and regulations to the workforce, including federal and state programs, fraud, waste and abuse, ethics, privacy and security requirements and corporate governance. The purpose of the compliance plan describes the importance of internal controls and submits a proposal to mitigate enterprise risks by applying sound principles and recommendations found in the Committee of Sponsoring Organization of the Treadway Commission (COSO). Code of Business Conduct and Ethics

The Code of Business Conduct and Ethics informs Riordan Manufacturing directors, executive officers, and employees of organizational ethical expectations. Honesty and Integrity is Riordan defines the organization’s dynamic business environment through honesty and integrity. Corporate integrity is a commitment pursued in open, honest and fair dealings with all its customers insuring the highest customer satisfaction from its consumer goods and services. Conduct Standards

Riordan employees are responsible to make certain the integrity and accountability protection of all documents. All documentation is considered proprietary and confidential. All employees are encouraged and expected to report any violation of this policy to his immediate supervisor. Use of Proprietary Assets

Employees of Riordan are required to protect organizational resources. Company assets include office supply and equipment and property not for personal use (Community Services, 2007). Any misuse of organization funds, information, equipment, or other assets can result in appropriate disciplinary action or dismissal. Employees will ensure that organization assets are for official business use only. Corporate Image

As stated above, all transactions and business dealings with customers will adhere to established ethical standards. All business will take place with the customer in mind. Any transaction brought to the attention of management by customers deemed unethical or outside the business’ norm will be reviewed for implication. Legal Obligations and Compliance

Market share liability (enterprise liability) is held jointly liable for action on the basis on being a part of a shared enterprise: Riordan Manufacturing, DBA Riordan Industries. Quality Control ensures products are free from design and manufacturing defects. State and federal regulation determine warranty and consumer protection requirement guidelines. Riordan Manufacturing conducts business globally and is, therefore, responsible to adhere to the rules and principles of the host country in accordance with International Law and any local jurisdiction. Business Continuation

A large portion of management’s responsibility is to...
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