StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Riordan Corporate Compliance Plan - Assignment Example

Comments (0) Cite this document
Summary
The author states that Riordan Manufacturers can ensure effective risk management in the company involving all the employees of the organization. Individuals should be allowed to give different suggestions that can be followed to ensure effective risk management in the company. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96% of users find it useful
Riordan Corporate Compliance Plan
Read TextPreview

Extract of sample "Riordan Corporate Compliance Plan"

Download file to see previous pages The company has grown in operation and thus, its growth comes with many risks and liabilities (eCampus, 2005). This is because, with the expansion, it will increase its capital base, resource base, and customer base. Location in different regions around the world such as China also implies that the company will be faced with different international rules and regulations that it will have to comply with. Therefore, with all these risks, the company requires a concrete risk management plan that can be used to ensure that any perils and hazards facing the employees and management of the organization are well handled. Risk management in the organization will require the involvement of a number of persons in the organization (Hopkin, 2010). This implies that the internal environment of the organization will have to be keenly assessed in order to identify the major areas that can lead to risks in the company (COSO, 2004). The objects that have been set in the company will also be keenly in order to identify ways in which the risks might lead to the failure of achieving the set objectives. In addition, both internal and external events that might lead to the occurrence of the risks in the company will also have to be identified. Once such events have been identified, the risks will then be assessed and analyzed. Policies and control actions will also be identified in order to find effective risk responses. Information will also be very important in the risk management plan. This is because; information will be used to learn more about the risks and ways of managing them. On the other hand, information has to be accompanied by communication. Once the relevant information about the risks has been identified, it has to be effectively communicated to the rest of the employees. In addition, Riordan Manufacturing will have to establish clear communication in order to ensure effective risk management (COSO, 2004). For instance, in the case of enterprise liability, the company has to ensure effective relationships with the community, in order to ensure that it minimizes its liability. After effective communication has been identified, the company will then have to monitor different sections of its operation that will require change or modification in order to ensure proper risk management (COSO, 2004). Enterprise Liability Enterprise liability refers to the responsibility that the organization has to its actions towards the public. The enterprise liability of Riordan Company involves many individuals such as the authorities responsible, the society, the employees and the management of the organization. Riordan Manufacturing is liable for a number of issues resulting from its operations (eCampus, 2005). For instance, the company is liable for any kind of pollution that it causes to the public. Since Riordan Manufacturing is a Company dealing with plastics, it might cause pollution to the environment through the gases that it emits. Therefore, this might cause a risk to the company’s operations since; higher authorities dealing with environmental conservation could sue the company. This is a risk that can only be managed by ensuring that the management of the organization communicates to the employees effectively about applying the right production methods. Employees in the company could also be trained on how to recycle waste products produced by the company.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Riordan Corporate Compliance Plan Research Paper”, n.d.)
Riordan Corporate Compliance Plan Research Paper. Retrieved from https://studentshare.org/business/1478565-riordan-corporate-compliance-plan
(Riordan Corporate Compliance Plan Research Paper)
Riordan Corporate Compliance Plan Research Paper. https://studentshare.org/business/1478565-riordan-corporate-compliance-plan.
“Riordan Corporate Compliance Plan Research Paper”, n.d. https://studentshare.org/business/1478565-riordan-corporate-compliance-plan.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Riordan Corporate Compliance Plan

Corporate Governance

Such a legal personality for a corporation also goes hand in hand with limited liability being placed upon the directors and shareholders of the corporation for debts that can be said to belong to the Company. The corporate body as an entity is impersonal and individuals may function in different capacities within an organization with their financial activities being shielded from the public eye, by virtue of the corporate veil. (Watson, 2002:202). They are liable to the corporation only to the extent of their ownership of shares and as a result, any extra risky financial activities they engage in are not subject to the scrutiny of the public or the law.
The net result of such a legal identity for a corporation is that it has...
12 Pages(3000 words)Assignment

Canadian Corporate Business Law

This was done by virtue of a loan to Ashley in the sum of $300,000 providing Temper with a first mortgage against the suite.
Two politicians invest in Temper, Stefan di Yawn who invests $500,000 in respect of 500 Class A shares and Bob Eh invests $100,000 for 100 Class A shares. In order to secure these investments, the politicians take a security interest in Temper. Shortly after the company experiences some difficulty beginning with Angelina who is photographed spitting on the sidewalks which gets the attention of politician Hillary Squinton who ran her campaign on a clean sidewalks platform. She initiates action against Angelina by taking the matter up with Spitting on Streets Board chaired by Angelina’s boyfriend Br...
11 Pages(2750 words)Case Study

The Real Face of Corporate Social Responsibility

Effective communication is an important tool that has wide-ranging influence in the smooth functioning of corporate bodies. The role of corporate communicators is significant in the administration of the organization and projection of the organization’s aims and objectives in the eyes of the public and stakeholders.

Corporate communicators normally use a variety of techniques to communicate with different people. The administrators and managerial staff use effective communication to disseminate information about the changes that need to be made and make special efforts to create a barrier-free work environment. The barrier-free atmosphere and friendliness testify mutual respect and easy accessibility of management...
9 Pages(2250 words)Assignment

Information Processing System of Riordan Manufacturing

Currently, financial information is not available until 20 days after the close of a financial period. The four locations all use different accounting systems and much of the data needs to be converted before being consolidated in the home office at San Jose. San Jose currently has a fully integrated Windows ERP system and it is recommended that the locations in Georgia, Michigan, and China investigate moving to a compatible system.

The sales and marketing departments have not kept pace with available information technology and the historical information on sales and marketing research is a piecemeal system that is outdated. The service request should recommend that all salespersons be put on the same sales software to...
2 Pages(500 words)Assignment

Billing System Upgrade with Web-Based Version Project of Rick Auto Enterprises: A Communication Plan

The project is envisioned to involve changes to existing business processes, changes to existing jobs, and/or the creation of new positions. With the new web-based version, customers and auto brokers will be able to view and pay their bills online, as well as access a billing customer service agent is required. This change will affect the billing, sales, and customer service departments but it is expected to reduce costs, improve customer satisfaction, and reduce the number of days for outstanding accounts receivable.
Ownership of the existing system rests with the Billing Department. However, with the benefits projected to be derived from the upgraded system, especially with the implantation of the web-based version, the Cus...
12 Pages(3000 words)Case Study

Marketing Research Plan: Old Navy

Gap’s credit ratings thereby limiting access to the capital market, international trade matters which may be disruptive of the supply chain, changes to its IT systems disruptive of operations, changes in the IT services agreement with IBM that can disrupt operations and produce adverse effects on financial results, international expansion through franchising and other arrangements may impair the value of its brands if unsuccessful, products are subject to risks associated with overseas outsourcing and manufacturing, and failure of vendors to adhere to Gap’s code of vendor conduct could harm the business. From available data in the 2007 Annual Report, both the Gap and Old Navy brands have exhibited declining net sales....
11 Pages(2750 words)Business Plan

Corporate Governance the Need of the Hour

A corporation has to be fair in all its transactions. It is rather a compulsion than the choice to organizations especially, in the epoch of globalization where they need to pool resources from across the globe and win the confidence of the global people. These corporations are therefore governed by a set of codes of values and principals. Top management responsibilities, especially those of the CEO, involve getting things accomplished through and with others in order to meet the corporate objectives (Wheelen and Hunger, 2007. p.33). So, good governance is wholly and solely the responsibility of the top management. 

Corporate governance is about ethical conduct in business. Ethics is concerned with the code of valu...
6 Pages(1500 words)Report

Evandale's Business Plan

Evandale’s mission would have a strong impact on the company’s later brand development.
When a company determines its mission and its vision, it needed to determine its objectives to accomplish that vision. I did not see the objectives—where the company was heading through in the presentation. A clear objective would have enabled me, as an audience to also picture where the company would want to go and would serve as the benchmark for me to assess the later strategic choices the company would state in the presentation.
According to the slides, the potential demand for caviar and the sturgeon products are “100x” bigger than the current supply. I would have wanted to see a reliable source for...
7 Pages(1750 words)Case Study

Business Plan Real Estate Agency

re representing our company as their business consultants and our responsibilities are limited to the knowledge of the client’s business and information provided by the client.
The company Of-Fit has been operating as office supplies and equipment supplier since 1998. Their corporate office is in Aberdeen and it has excellent industry relations. The company is a sole proprietorship and its owner is Mr. Andrew Schwatz who has been working in the industry for more than 20 years. The company current staff is 8 and its revenues are £115,690 and £156,178 in 2008. The company aims to expand its operations in other business areas and regions of the UK.
The detailed business plan developed for this report incor...
12 Pages(3000 words)Business Plan

Directors Remuneration as a Contentious Issue in the Corporate World

Critics of the excessive packages are of the opinion that such high packages reflect ‘pay for failure’ and do not take in to account the financial performance of the company (Solomon, 2007 p. 40). Additionally, most of the directors are geared at self-interests, thus undermining the ability of the shareholders to receive a fair return for their investments (Barty and Jones, 2012 p.14).
According to a recent report by the High Pay Commission, there has been a drastic growth in directors’ packages over the last thirty years. According to the report, directors’ packages have risen by about 5,000 percent in the last thirty years while the average income worker has increased by only 300 percent. The report...
6 Pages(1500 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Riordan Corporate Compliance Plan for FREE!

Contact Us