| Title | COMPLIANCE MANAGEMENT IN A BALANCED SCORECARD APPROACH |
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| URL | https://www.datalabsindia.com/blog/compliance-management-in-a-balanced-scorecard-approach/ |
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| Category | Business --> Business Services |
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| Meta Keywords | COMPLIANCE MANAGEMENT IN A BALANCED SCORECARD APPROACH
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| Meta Description | Compliance management is the process of ensuring activities across the organization are in line with laws, regulations, and requirements. |
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| Owner | DATALABSINDIA |
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| Description |
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| Companies can implement compliance software to automate compliance processes. It is an ongoing process of monitoring and assessing systems. Compliance management is important to prevent noncompliance and other damages to the company/business. To do a successful monitor for your business you need to Assess, Organize, Remediate and Report.
Compliance management is usually taken as a standalone process and not attached to strategy execution. Due to this approach, there is a possibility that the compliance requirements can create problems in business continuity and also introduce risks. Hence compliance requirements have to be managed as part of strategy execution and it should be part of the strategy review process as a subtopic. |
