Carnetwest
CareNetWest is a company that has gone through many growing pains that have taken it from a private company to a publicly traded company in a very short time. While the mission of the company is admirable, the logic with which the company has been directed is lacking in common business sense. The plan mentioned in this document is one that will allow the company to focus on its core competencies while moving forward in the area of risk management assessment by allowing the professionals to move the company into compliance with the Sarbanes Oxley Act of 2002.
In order to accomplish this, the leadership will have to re-examine the current roles that each leader is playing, and make adjustments as necessary. In addition, the risk management department will be responsible for reconfiguring the company to be compliant with the federal guidelines set forth with the assistance of the Securities and Exchange Commission. Publicly traded companies across the United States have found themselves in this very scenario and have been able to complete the requirements, moving forward successfully both professionally and financially. Compliance is something that every publicly traded company must do so the sooner it is accomplished, the sooner the company can re-focus on the business it created in the first place.
CareNetWest has addressed its situation by first performing a comparative analysis of various companies that failed to maintain their compliance laws and best business practices. The companies analyzed were Wal-Mart, Pfizer, Gateway, AutoZone, Enron, and The State of Maine’s Medicaid Processing System. Upon gathering data from these corporations, CareNetWest was able to implement a system that met their end-state goals. Since the CEO did ...