University of PhoenixBusiness LawLAW531February 8, 2010Corporate Compliance PlanThis paper will focus on a corporate compliance plan for Riordan Manufacturing. The plan will show what has been learned and the legal principle of business management that has been or can be applied. The focus of the plan will be on overseeing the legal liabilities of Riordan directors and officers.
Riordan ManufacturingRiordan Manufacturing is an organization that is better known for their plastic designs and was created in 1991 by Dr. Riordan. The organization has plants in four different locations, with three locations in the United States, and one in China. Riordan did not start producing plastic bottles until they expanded their office in Georgia (Apollo Group, Inc, 2003, 2004, 2006).
Corporate ComplianceWhen an organization such as Riordan face any issues dealing with corporate compliance it is best for the organization to create a system that can handle corporate governance and compliance.
This system is to study any Alternative Dispite Resolutions (ADR) as well as coordinate it. The system should assure total corporate compliance. It is necessary for Riordan to create a strong strategic plan. This will help the company stay focused aswell as work on way of reducing the risk of any violation on their part.
ADRRiordan can resolve their issues through an Alternative Dispute Resolution (ADR). Using an ADR is an inexpensive way of resolving issues. The ADR is a well known solution that enables organizations to settle issues outside of a courtroom. The ADR is less stressful, faster, and a cheaper way of settling issues. The ADR Riordan can use is mediation and arbitration. Mediation is a form of ADR where the parties meet together with a third party who will listen to all parties and assist them in coming up with a solution that works best for everyone,