Original Source: https://compliance-hiring.blogspot.com/2021/04/how-do-you-achieve-regulatory-compliance.html
Organizational ethics is always a significant issue for those seeking behavior and maintain a regulated turn implementing the same business philosophy.
Business identity
We can define business philosophy as what identifies an organization, expresses its objectives, and wants to achieve it. To develop it, mission, vision, and values are required. The mission is the company’s purpose, what it intends to accomplish, do, and for whom. The vision is the company’s direction in the long term. The decisions of the company must be oriented to the vision to obtain the growth and evolution expected. Values are the principles and beliefs on which the organization is based and what serves as a reference point for our performance and customer service. These points are the basic principles for companies to perform optimally in their business practices and not get lost along the way. Each area of the organization must know them and carry them out to guarantee the work’s quality.
Business philosophy and current laws
To comply with current laws and regulations, companies carry out the function of compliance, also called compliance.
This function is in charge of monitoring compliance with laws and analyzing possible risks of non-compliance.
Also, compliance seeks that the company’s codes are respected, designing procedures to be followed day by day, and the applicable sanctions in case of criminal actions must be disclosed.
It is not only the responsibility of the organization members to implement compliance with the company culture. The company employees play an essential role, since, if the workers do not commit, it would be impossible to carry it out.
Business philosophy and current laws
Compliance team
An excellent way to ensure that the organization complies with the business philosophy is by creating a compliance department.
Its structure depends directly on the company’s size. The department leader must be someone you trust, who can act with authority having their responsibilities clearly defined, and who always maintains good communication with the management to report possible breaches.
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