80:20 Management Consulting

80:20 Management Consulting
part of the 80:20 Group

Monday, July 18, 2011

The Importance of Compliance

The number of people I speak to in day to day travels and in social settings that either run a business or own a business and are unaware of the importance of compliance is a little scary.

I use the term compliance in terms of regulatory compliance, in other words what laws and regulations businesses have to adhere to. Just because you don't have a certified Safety, Quality or Environmental Management System doesn't mean you don't need to regularly assess your compliance.

If you are reading this and you are in a position of seniority, ask yourself a few basic questions.

1. Am I aware of ALL regulations that are applicable to my business?
2. How do I stay up to date if a regulation changes?
3. When was the last time we assessed our compliance with current regulations? 
4. Do I know the penalties that apply to me individually for con-compliance?

You have to remember that when it comes to being a business owner or Senior Manager, there are laws that if not followed and lead to death of a worker or other catasrophes, you personally may be fined or imprisoned on top of fines for the business.

It doesn't take long to get yourself up to speed and there are many wonderful people out there like myself to assist you.

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