Business Law Compliance: Riordan Manufacturing Case Study

The growth of the company can only be maintained if all operation parts work simultaneously as a single unit. The goals of the organization must be achieved through accounting and financing systems that have been upgraded. Dr. Riordan a chemistry professor from Albany, Georgia founded, Riordan Manufacturing Inc. in 1993, he created many items that were patented in relations to polymer dispensing. The compounds are high in molecular weight in most cases almost a million units are created into some form of plastic and it is very strong. In the beginning Riordan manufacturing licensed panted and researched its creations Riordan manufacturing was one of the companies that spread through the World Wide Web. In 1993 Riordan plastic changed its name to Riordan manufacturing. The plant received business capital to expand production and purchased a manufacturing plant in Pontiac, Michigan, further expansion took place in the year 2000 and a plant was opened in China. Due to the international Expansion Riordan manufacturing structure has been recognized(Riordan, 2010).

From a biblical perspective we see in 1 Samuel 12:1-4 Israel’s high regard for Samuel. He was a man who exuded integrity. Samuel said to all of Israel, “I have listened to everything you said to me and have set a king over you. Now you have a king as your leader. As for me, I am old and gray, and my sons are here with you. I have been your leader from my youth until this day. Here I stand. Testify against me in the presence of the Lord and his anointed. Whose ox have I taken? Whose donkey have I taken? Whom have I cheated? Whom have I oppressed? From whose hand have I accepted a bribe to make me shut my eyes? If I have done any of these, I will make it right.” “You have not cheated or oppressed us,” they replied. “You have not taken anything from anyone’s hand.”

Riordan Manufacturing Future is must be focused in maintaining and achieving reasonable profitability to assure that the human capital and financial is available for sustained growth. Riordan Manufacturing Employees will maintain an innovative and team oriented working environment. By assuring that theirs employees are well informed and properly supported, they will provide a climate focused on the long term viability of theirs company.” (Bai, 2009)

Riordan Manufacturing is a global plastics producer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Recently, Riordan made several strategic changes in the way it manufactures and markets its products. Because of declining sales and uneven profits over the past two years, Riordan adopted a customer-relationship management (CRM) system. Primarily sales teams instead of single salespeople, with each team focusing on a particular customer segment, now service customers. Teams typically include a sales person, product engineering specialist and customer

Riordan Manufacture visions its future as a growing industry maintaining its integrity with its employee and customer. Most importantly, accumulating and assuring strong financial credibility.

Starting a business is an adventure that can be a lot of work, yet the end result from hard labor can result in a rewarding experience. Yet simply following the American dream can be full of road block, if one does not research ahead of time can end up leaning the hard way. In the day and age that we live in, trying to find out what fits the best for your business can be as simply as login on to Google. The most basic of research can provide one with how to select a proper business structure, whether a company or corporation. This act in itself can determine your chances how the business will be successful in operational blessing and financial profits. The most common business types are sole

Riordan Manufacturing strives to be the leader in using polymer materials to provide solutions to customer’s challenges. The main focus is to achieve and maintain reasonable profitability to assure that the financial and human capital is available for sustained growth. In order to obtain these goals Riordan Manufacturing will need to have a strong production plan.

Being a fortune 1000 enterprise and leader in the area of plastic injection molding, Riordan Manufacturing, Inc. has gained international praise on producing new and improved plastic designs with their “state of the art design capabilities.” (Virtual Organization) Riordan Manufacturing’s facilities are located in San Jose, CA; Albany, GA; Pontiac, MI; and Hangzhou, China. Some of their products include: plastic drink containers (GA), tailor-made plastic parts (MI), and plastic fan parts (China). All research and development is done at their corporate office in California. With these resources Riordan Manufacturing can implement most any needs a company may have.

Dr. Michael Riordan, a professor in chemistry, acquired several patents relative to processing polymers into high tensile strength plastic substrates. He knew there was a market for commercial applicants for his patents after so he started Riordan Plastics, Inc. in 1991 at the age of 45. Today, Riordan Manufacturing, Inc., owned by Riordan Industries is a Fortune 1000 enterprise with revenues in excess of $1 billion. They employ 550 people and have projected annual earnings of $46 million. Riordan Manufacturing has locations in San Jose, California, Albany, Georgia, Pontiac, Michigan and Hangzhou, China. Research and development is done at

Riordan Manufacturing and its parent company Riordan industries are both performing strongly and though there are some definite flaws apparent in human resources management at Rordan Manufacturing the company is still poised to take advantage of many different competitive strategies depending on a larger environmental assessment. Internally, a very health profit margin and growing sales numbers are generating substantial returns for the company, and the current ratio as well as the total asset to liabilities ratio are enormously high. This in and of itself suggests some possible strategic moves for the company in the coming months and years. The new technologies that are being adopted and the new equipment purchases that are estimated to generate long-term savings and performance improvements also demonstrate part of the strategic course that Riordan might already be taking in order to position itself as a more competitive player in the market.

Applying the legal principles of business management correctly is absolutely essential to minimize risk in today 's fast changing global business environment. Effective managers must carefully, yet quickly and accurately analyze each situation, diagnose the correct problem and proceed to apply the correct legal solution. In this fast-paced, challenge wrought environment managers and the business organizations under their leadership need a legal framework that will help them make these critical decisions effectively. A case in point is the legal framework challenges facing Riordan Manufacturing.

Riordan Manufacturing is an industry leader in the field of plastic injection molding that has earned them international acclaim. (Apollo Group, Inc., 2004,). The mission that Riordan Manufacturing has embarked on will lead the company into the 21st century with a sound footing in the plastics manufacturing industry. In order for Riordan Manufacturing to be able to meet its customer 's needs and expectations, there needs to be systems in place that not only focuses on the quality but also the management of the manufacturing

To address these issues the management of Riordan Manufacturing we conducted a survey of these problems. Various users were interviewed and some recommendations were attained to improve on the entire network performance.

Make risk management an integral part of your organization’s management approach. Emphasize the need to communicate and consult with both external and internal stakeholders, Continuously monitor and review your organization’s risk management process (including SOC playbooks and CSIRT response scenarios).

The Valuation Implications of Enterprise Risk Management Maturity by Mark Farrell and Ronan Gallagher seeks to prove that firms who integrate the Enterprise Risk Management (ERM) process tend to enhance their value by recognizing risk. This article states that enterprises will be subject to many risks and that the goal of ERM is to “model, measure, analyze, and respond to these risks in a holistic manner” (p. 625). As defined by the Casualty Actuarial Society (2003) ERM is “the discipline by which an organization in any industry assesses, controls, exploits, finances and monitors risks from all sources for the purpose of increasing the organization’s short and long-term value to its stakeholders”. The value of a firm was found by analyzing the ERM maturity assessment score by using the Risk and Insurance Management Society Risk Maturity Model (RIMS RMM), which is commonly known and esteemed. This was done to provide evidence that companies who incorporate the ERM process tend to add value to their company. This is important because as the article states, the premise of ERM has only been in existence for just over 10 years, and therefore research is extremely limited in regards to how to measure the full effect of ERM on a firm. This article seeks to discuss the value of ERM and how it has evolved, the data and model used to confirm the value of ERM, and then it concludes with the observed results.