Please help me with some ideas addressing the following and provide some additional sources.
a) Compliance and Legal Considerations
b) Information Management and Technology
c) Internal Control and Evaluation
The response addresses the queries posted in 3989 words with references.
//In the present business environment, there is a need of compliance management system within each and every organization. There is a need of compliance with the legal considerations in each and every related field. The paper tends to analyze their need and importance. Internal control & evaluation and leadership are also discussed in the later part of the paper. //
Compliance and Legal Considerations
There is lot of competition in the present business environment and along with that; there are several number of efficient players in the market place. To deal with the competition level and to strike a remarkable presence, organizations tend to make use of various strategies. In accordance to that, there is a need of compliance in relation to each and every aspect. The compliance policy that is to be followed by organizations is focused on the legal considerations. Most of the organizations are determined to have a compliance policy and that should be an integrated function of all the operational activities that are carried out within the organization. The compliance strategy or policy is focused to analyze the importance of all the related aspects that are valid and important to carry out business activities in a streamlined manner and under an organized pattern (Silverman, 2008).
There is a major role to be played on the part of top management in regard to the identification of compliance requirements and implementation. The compliance policy to be adopted and established in any organization is concerned with the identification and realization of favorable circumstances that are in consonance to the legal obligations. This is the reason why the role and need of compliance management policy is identified to protect and safeguard the organization against all the possible legal complications. The effectiveness of the compliance management policy, to deal with all the legal considerations, is required to be very high. As a result of this, the organization is required to review and upgrade the compliance policy to deal with the circumstances in an efficient and better way (Compliance Analysis, 2010).
There are several ways in which the organizations can opt for the compliance management policies in regard to the fulfillment of legal considerations. There are two broad categories under which the management services related to compliance and legal considerations can be summed up. They can be regulatory compliance management system and statutory compliance management system. Both these categories are meant to deal with the compliance strategies to be adopted in various areas, such as pollution policies, environmental policies, labor and contract policies, health and safety policy. This type of compliance policy that deals with the governance of lawful operational activities of an organization is termed as regulatory compliance policy (Regulatory compliance management guide for CIOs, 2010).
Irrespective of the organizational size, all the companies should device a compliance policy. For this purpose, the organization is required to follow a balanced approach that is monitored and examined along with cautious establishment. For selecting an appropriate category of the compliance policy that is regulatory or statutory, and organization wide implementation of that policy, the company is required to formulate a committee. This committee is supposed to analyze the organizational needs and in accordance to that, a compliance policy will be adopted. It is considered as a primary duty for all the organizations to bid by all the imposed and applicable legal obligations to carry out the operational activities and in this regard, the compliance policy is formulated within the organization (Interligi, 2009).
The overall analysis describes about the importance and need for compliance management policy, in consideration to the legal responsibilities that are confronted by an organization operating in the present business environment. There are many certifications that are required for gaining consumer acceptance and share of attention. One such certification is ISO 14001, which is given to an organization for a well defined legal compliance policy. This certification explains that the organization and organizational products are in accordance to the laws and regulations preset in that sector of business (Legal Compliance as a part of accredited ISO 14001: 2004 certification, 2010).
There are many ways in which the compliance policy is implemented within an organization and along with that, there are many officials that take care of follow up of the compliance policy. There are compliance officers who take care of the organization's compliance policy i.e. of the periodical review and exact follow up of the policy with in the organization. There are several aspects in which the compliance management is the key issue and one such aspect along with legal considerations is quality standards. There are rules and regulations to account for the quality standards and compliance with these standards is very important, failing to which organizations are subjected to legal prosecution and is a major issue for organizations to deal with and compete with the quality standards (Compliance Management, 2002). Violation of the compliance management policy will lead to enforcement activity against the organization. For this purpose, it is required that the management officials and the concerned personnel are well aware of the organizational compliance policies and the resulting effects of the volition of the organization compliance policy. As a result of this fact, the need of training for the concerned officials is identified. The training program must be focused on the importance and the need of compliance management policy in terms of legal obligations. This will help the organization to impart knowledge to the personnel for the need of such policy and how it will help the organization to conduct business in an effective manner. It is regarded as the prime responsibility and duty of the director to deal with the violations and report to the concerned authority immediately. There is also a provision for the corrective actions to minimize the impact of volition of the compliance management policy that exists within the organization (Organizations compliance policy, 2008).
//Up-till now the paper describes about the need and importance of the compliance management policy in regard to the legal considerations. Now, the paper will focus on the discussion over the role of information management and technology within organizations//
Information Management and Technology
In the fast moving business world, where there is no scope for physical boundaries, use of technology for managing information has become a popularized trend. There are separate organizational levels on the basis of which the use of technology for management of information can be described. There is a difference in the degree and intensity for the use of technology, for the purpose of information management, but the use of technology cannot be avoided at all at any of the considered level. The transformation in ...
The response addresses the queries posted in 3989 words with references.