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Why do compliance and ethics strategies in organizational business fall short of addressing world wide business...

Why do compliance and ethics strategies in organizational business fall short of addressing world wide business ethical responsibilities?

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Answer #1

There are 3 main reasons why compliance and ethical strategies fail to address the global business organization in an effective manner. They are:

1. Every country has a different set of regulations and compliance programs levied on business organizations. therefore, although compliance and ethical behavior in a business organization is a global phenomenon, there is a huge difference between the perception, reception, and implementations of the compliance programs all around the world. Therefore, there is a huge difficulty to form a single uniform compliance program for all the business organizations operating globally.

2. Different business organization has a different set of priorities. some may give more importance to sales and business development while some may be focused on philanthropy. and there are those who are focused on conducting ethical behavior throughout their business dealings. this difference conducting business often plays a major role in why compliance programs can't be implemented globally for all the business organizations.

3. There is a huge gap in the standards and principles of the compliance programs. until and unless, a uniform standard is adopted and followed religiously, no compliance program can succeed in being implemented globally.

The compliance programs can try to set up a uniform code of conduct and a set of principles which can be adopted globally and followed with vigor if it wants to succeed in promoting ethics in business. for this purpose, it is important to identify newer risks threatening the ethical code of conduct in the business environment, setting up of the expectations according to those risks and then working towards forming a compliance program that meets if not all then at least most of the meets and requirements of a modern business organization.

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