Taking A Look At Riordan Manufacturing

Submitted By Nicoleyoung
Words: 985
Pages: 4
Open Document
Company Overview
Riordan manufacturing is a global plastics manufacturer owned by Riordan Industries, a Fortune 1000 enterprise. They employ 500+ employees by which some gross up to $46 million annually. The company has also accomplished the financial growth of more than $1 billion. They are consistently focused on providing feasible product solution and quality to their customers. They believe in being the solution than being a part of the problem. This would imply that Riordan savors the importance of establishing and maintaining productive and ethical relationships with their stakeholders. They also believe in taking care of their employees by creating a work environment governed by innovation and team building.
Legal Liabilities of Officers and Directors
Long-term relationships will be sought by maintaining rigorous quality controls, innovative solutions, and a responsive business attitude and reasonable pricing (Riordan Mission). This statement requires officers and directors to become more proactive within the field of operations of the entire company. Honoring this commitment promotes consistent yet sustainable growth for Riordan. Therefore, it is obligatory that every member understands and abides the duty of their role. Each general rule must be acknowledged and understood by each member. Also the rights and laws implemented by the state are to be fully considered. “The board and relevant committees should work with management to promote and actively cultivate a corporate culture and environment that understands and implements enterprise-wide risk management” (Lipton, 2010, pg. 1). The COSO framework indicates capacity of assessment when a strategy and objective is created and put into motion. It creates a balance of growth and the risks that comes along with success. It is inevitable yet attainable, which is the overall goal – A Balance.
Enterprise Liability
In recent news, Riordan Manufacturing expanded their operations to China. During that time, they moved the entire facility from the Pontiac, MI facility to China. That would require downtime on current production for the company and misses work time for their employees. This new addition with China could cause enterprise liability issues to ascend. So it is important to maintain a healthy relationship with suppliers and the construction of all new contracts within the process of relocation. This would require Riordan to review, and amend existing contracts as well conducting new ones. When there are compliance issues regarding liability, the best option in this case would be to implement an ADR process. Arbitration and Mediation would be the primary alternatives in this case. They both are much cheaper than going to trial and it allows the dispute to be handled in a more private atmosphere. Litigation is a difficult, time-consuming, and costly process that must comply with complex procedural rules (Cheeseman, 2010). This process will allow both Riordan and their vendors to handle their own legal transgressions.
Real and Intellectual Property
Protecting the Real and Intellectual property of Riordan requires the complete protection of the entire corporation. Lowell Bradford is the Chief Legal Counsel of Riordan Manufacturing. All contracts must be signed and approved by him regarding any legal matters. “The chief executive officer is ultimately responsible and should assume ownership” (COSO, 2004). During the preparation of relocation, Riordan’s legal team oversees all real property contracts. Not to mention the real property contracts local environment regulations. China is a very rich city in which they have implemented their own rules and regulations that Riordan must adhere to. Therefore it is imperative that Riordan and the legal counsel are full aware of all China’s laws and are confident that Riordan are in compliance with regulations and contracts. This would include acknowledging the other plants that Riordan
Show More

Related Documents: Taking A Look At Riordan Manufacturing

Essay On Riordan Manufacturing

Problem Solution: Riordan Manufacturing This paper will be an analysis of the issues currently affecting Riordan Manufacturing. Riordan is facing an overall issue with low employee morale and motivation for several reasons. Changing its business strategy to team sales and support versus individual sales and support left Riordan with a compensation package not aligned with rewarding a team strategy. Desiring to remain a top player in the market Riordan needs to address several issues with performance…

Words 3112 - Pages 13

Analysis Of Riordan Manufacturing

Riordan Manufacturing To: Michael Riordan, Hugh McCauley, Dale Edgel, Yvonne McMillian, Mari Carillo, From: Student CC: Maria Trinh Date: April 7, 2014 Re: Project Proposal Introduction and Project Description The modern business context requires organizations to comply with a variety of regulations. Compliance is required at different levels such as regulatory agencies, project organization, political framework, human resource framework, sponsoring organization, and interest of stakeholders…

Words 768 - Pages 4

Riordan Manufacturing Essay

Riordan Manufacturing Executive Summary ABCO Consulting thanks the Riordan organization for allowing us to do this upgrade analysis. A review of the existing infrastructure at Riordan has been completed and the findings are contained in this document. There will be a listing of what was found followed by a proposed upgrade system layout. The scope of this project is to cover the following systems and subsystems and to explain how they all interact one with another. Finance & Accounting…

Words 1969 - Pages 8

Roles For Riordan Manufacturing

Abstract The roles that are needed to run Riordan Manufacturing and the value of separating the duties in the organization should be laid out in writing. Separating the duties will be covered in the following paragraphs. How roles and their use to segregate the data and access system access needs of Riordan employees will be covered as well. Role-based access control systems (RBAC) are the best way for Riordan to segregate duties and use roles to segregate data and system access will be explained…

Words 1113 - Pages 5

Marketing and Riordan Manufacturing Essay

“Riordan Manufacturing, Inc. is an industry leader in the field of plastic molding” (University of Phoenix, 2004). This firm has “state-of-the-art design capabilities that creates innovative plastic designs that are known internationally” (University of Phoenix, 2004). Riordan Manufacturing pays close attention to details that is their trademark. “Its products include plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan…

Words 355 - Pages 2

Corporate Compliance Plan For Riordan Manufacturing

Corporate Compliance Plan for Riordan Manufacturing University of Phoenix Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The following are some of the products produced by Riordan Industries: plastic bottles, fans, heart valves, medial stents, and custom plastic parts (Virtual Organization, 2009). This compliance plan will state the company's…

Words 2269 - Pages 10

Supply Chain Design-Riordan Manufacturing Paper

Design- Riordan Manufacturing OPS/571 March 31, 2014 Supply Chain Design-Riordan Manufacturing Every organization has their own manufacturing strategy, depending on the type of organization will depend on the strategy to have the best end result. Understanding the strategies and how they are used can help the manufacturing process. Riordan manufacturing is a Fortune 1000 organization which produces multiple products, throughout this paper Team C will explain Riordan’s manufacturing strategy…

Words 1372 - Pages 6

Access Control and Riordan Manufacturing Essay

Riordan Manufacturing Human Resources SR-RM-022II Chris Capone BSA/375 October 6, 2013 Professor Inka Kawashita Riordan Manufacturing is pursuing a new Human Resource system that will consolidate all of their related data. Currently, the data is spread out through separate departments throughout the organization. A consolidated system will allow the HR data to be stored at a central location, thus permitting its employees access to the data. The system will operate similar…

Words 1029 - Pages 5

An Overview Of Riordan Manufacturing Chief Operating Officer

Project Scope and Stakeholders Riordan Manufacturing Chief Operating Officer, Hugh McCauley, is interested in developing more sophisticated, state-of-the art, information systems technology for the human resources department. The idea behind this upgrade is to integrate the existing variety of human resources tools that Riordan Manufacturing utilized each day, into a single integrated application. The Chief Operating Officer would like to see the new integrated applications being utilized by…

Words 555 - Pages 3

Riordan Manufacturing: SR-Rm-022, Part 1

Riordan Manufacturing: SR-rm-022, Part 1 Riordan Manufacturing: SR-rm-022 - Part 1 Hugh McCauley, the COO of Riordan Manufacturing, wants to combine the existing variety of tools in use into a single integrated application. This company would like to take an advantage of the more sophisticated state of the art information systems technology that already existed in the human resources department This paper will describe some of the key stakeholders or stakeholder groups in Riordan Manufacturing who…

Words 1198 - Pages 5