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Riordan Manufacturing: Corporate Compliance Plan Essay

1238 words - 5 pages

Company Overview
According to Apollo Group, Inc (2006), “The company was founded by Dr. Riordan, a professor of chemistry, who had obtained several patents relative to processing polymers into high tensile strength plastic” (History, para. 1). Seeing a commercial need for his patents, Dr Riordan founded Riordan Plastics, in 1991. The initial direction of the company was to perform research and development, and to sell licensing his patents. After obtaining investment capital in 1992 and purchasing a manufacturing plant in Michigan, Dr Riordan changed the name of the company to Riordan Manufacturing, Inc. In 1993, the company acquired another manufacturing plant in Georgia and started ...view middle of the document...

Development of company policy and employing of officers is the responsibility of the directors, whereas the officers are responsible for the corporation’s day-to-day operations (Cheeseman, 2010). As a corporation, Riordan Manufacturing, Inc can be made liable for the actions of its directors and officers as well as any contracts they authorize. Adherence to this corporate compliance plan will reduce the liabilities of Riordan Manufacturing, Inc.
Alternative Dispute Resolution
All disputes must go through an alterative dispute resolution process. The following steps will be followed when a dispute occurs. However, depending on business impact, senior management may give direction to bypass or invoke any step of the ADR process at any time.
1. Negotiation
a. Parties who are involved in the dispute, will first try to negotiate a solution, which is agreed upon by all parties, without the use of a third party.
b. If negations cannot be met within the same business day, the dispute will be taken to a section leader or division manager for mediation.
2. Mediation
a. Each party will document an overview of their side of the dispute, to include supporting evidence.
b. Each party will separately meet with the appointed mediator and review the facts.
c. If an agreement is made, the mediator will draft the agreement, which each party must sign and adhere too.
d. If an agreement is not made, the dispute will be taken to legal counsel for arbitration.
e. The total time for mediation cannot exceed one business day.
3. Arbitration
a. Legal counsel must be notified in writing of arbitration need.
b. All parties must submit same documentation drafted in mediation and additionally include any notes, memo’s or e-mails that have been developed during this dispute.
c. Legal counsel has two business days to review data and schedule the first meetings.
d. Meetings must be scheduled by the fourth business day and cannot exceed more than two business days.
e. If required, legal counsel can call meetings will senior management to obtain addition business data.
f. After all facts are review and meetings are completed, legal council will document the decision, which must be signed by all parties.
g. Total time for arbitration cannot exceed five business days, unless approved by senior management.
Enterprise Liability
Enterprise Liability usually means "Legal principle that an entire organization may be held responsible for the obligations and/or offences of its constituent units (affiliates or subsidiaries)” Business Dictionary (2010). Riordan Manufacturing, Inc shall adhere to the following.
A copy of the employee handbook and all company polices and procedures shall be made available to every employee.
An e-mail must be sent to the human resources department by each employee with the acknowledgment of The Business Ethics and Conduct section of the employee handbook within one-week of the employee’s start date and during the first...

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