BUSINESS REGULATION SIMULATION Ã¯Â¿Â½ PAGE \* MERGEFORMAT Ã¯Â¿Â½1Ã¯Â¿Â½
Business Regulation Simulation
The research of this document will analyze and develop a plan for a company like Alumina Inc. and explain how regulatory risks can be identified and managed through preventive, detective, and corrective measures. The company that I have chosen for the essay is Covidien whom is a leading innovator of medical devices and supplies, pharmaceuticals, and imaging solutions; and I will relate to the following objectives given. A table of legal issues and principles relevant from learning team A will be considered into the essay as well, along with common torts and other regulatory risks found in the "Business Regulation Simulation." Furthermore, I will describe specific measures to manage each individual risk.
Learning Team A
Business interests in automotive components and manufacture of packaging materials, bauxite mining, alumina refining, and aluminum smelting, Alumina Inc. is a four billion dollar company that operates in eight countries (University of Phoenix, 2010).
The allegation and litigation filed from the plaintiff, Kelly Bates, in the Business Regulation Simulation is known as a compensation regulatory tort. Team A has learned how Alumina Inc. would relatively resolve issues through mediation, under the American Arbitration Association (AAA); due to the fact it is much quicker and cheaper than litigation.
Similar to Alumina Inc., Covidien is a 10 billion global health care products leader dedicated to innovation and long-term growth (Covidien, 2010). Serving hospitals, acute care facilities, nursing homes, rehab centers, ambulatory surgery centers, physician offices, and radiopharmacies; Covidien's mission and goal is to provide quality products that will enhance patient care and improve outcomes for patients. As of today, Covidien continues to focus on growth, global structure, innovation, and operational excellence; and anticipates in succeeding in the areas of customer relations, leading brands,