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Riordan Compliance
Riordan Manufacturing Compliance Plan
Plans for alternative dispute resolution (ADR) techniques can help control the environment of an organization by establishing the values and expected integrity of the members of the organization (Bibi 2011; COSO 2009). Though such resolution techniques are typically not binding and are not required in many cases by any external laws, Riordan Manufacturing will take advantage of such techniques for both the ethical and pragmatic benefits provided: litigation can be costly, and ADR techniques are often more efficient and lead to more mutually beneficial resolutions (Bibi 2011). Standard employment contracts (as well as third-party contracts with vendors, suppliers, and contractors as necessary and possible) with Riordan Manufacturing will include a clause insisting upon arbitration as an initial dispute resolution process of other internal procedures and controls prove ineffective in resolving a given dispute.
When it comes to liability, Riordan Manufacturing has a great deal of vulnerability and must takes steps to protect itself. According to the tenet of enterprise liability, any organization that stands to profit from the imposition of risk is also liable for any damages resulting from those risks (Keating 2001). Riordan must ensure that all employees are aware of safety and policy guidelines, especially when engaged in activities outside of Riordan's physical property (e.g. delivery...
In order to limit the risks of product liability, strict quality control standards and frequent, ongoing testing of all products must be standard operating procedures. The company is responsible for the safety of its employees while engaged in Riordan's operations, as well, meaning safety must be the paramount concern in all activities (Keating 2001).
International law only applies to Riordan Manufacturing, obviously, insofar as it operates on an international basis. Trade laws, tariffs, quality control standards and procedures, as well as a variety of other legal and procedural areas of concern vary significantly from country to country; Riordan Manufacturing will have a point-person for each country or region of operation that will be held responsible for maintaining current and comprehensive knowledge regarding the legal requirements for continued operation in the given country/region. There are also certain international standards such as maritime and shipping laws as well as safety standards and accounting practices that the company must ensure its officers remain aware of at all times (IFRS 2011). This should provide reasonable protection for Riordan Manufacturing from undue liability under international laws.
Tangible property owned by Riordan Manufacturing should not present a great deal of concern to the organization, as standard operating procedures should ensure that all such property is…
References
Bibi, W. (2011). Coso's Internal Control Integrated Framework. Bibi Consulting. Accessed 18 March 2011. http://bibiconsulting.homestead.com/website.html/
COSO. (2009). Guidance on Monitoring Internal Control Systems. COSO.
IFRS. (2011). Accessed 18 March 2011. http://www.ifrs.org/Home.htm
Keating, G. (2001). The Theory of Enterprise Liability and Common Law Strict Liability. Vanderbilt Law Review 54(3): 1285-335.
Nolo.com. (2000). Which Legal Form Is Best for Your Business? Accessed 18 March 2011. http://www.inc.com/articles/2000/06/19438.html
Riordan Manufacturing Virtual Organization "Riordan Manufacturing is a global plastics manufacturer employing 550 people with estimated $46 Million in sales per year" ("Financial Forecasting Paper Riordan Manufacturing," Docshare: Social Document Sharing, 2011). Riordan Manufacturing Virtual Organizations is an authentic company; namely, an international plastics manufacturing company. Riordan Manufacturing Virtual organization web-based businesses, schools, healthcare, and government organizations that promote authentic assessment by immersing students into problem-based learning environments. All Riodan Manufacturing Virtual
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