This purpose of this document is to plan for minimizing tort and regulatory risk for the global organization, Covidien. Using the information gathered from the "Business Regulation" simulation regarding Alumina Inc. as a foundation for seeking potential issues, one will identify the legal principles that applies to a strategic action plan for minimizing risk. This plan will clearly identify common torts and other regulatory risks as to best manage the steps to preventative problems, act as a detective measure and work to correct existing problems.
Our class "Business Regulation" simulation based on Alumina Inc., a $4 billion-dollar global manufacturing company that is located in the state of Erehwon, situated next to Lake Dira. The litigation that plagues this company is compensation regulatory tort. The class learned how Alumina Inc. works to solve the issue using mediation, which is a form of alternative dispute resolution.
Like Alumina Inc., Coviedien is a 10 billion-dollar global manufacturing organization that seeks to maintain a good public image while providing high quality products that are safe.
Covidien is a leading innovator of medical devices, imaging solutions, pharmaceuticals and medical supplies. Serving healthcare needs in hospitals, long-term care facilities, alternate care facilities and doctor's offices; our primary vision and end goal is doing our part to improve patient care and outcomes. Covidien has partnered with the healthcare community to aid in the development of laparoscopic surgery, electrosurgery, biosurgery, sleep therapy and pain management has saved lives. (Covidien, 2009).
Regulatory AgencyAlumina Inc. is committed to aligning with strict compliance to the rules and regulation set by the regulatory agency, Environment Protection Agency. During the simulation, the class learned that Alumina was in violation of discharge of norms. PAH concentration in test samples fell above the prescribed limit. The Environment Protection Agency ordered a clean up of...