Absolute compliance can have significant impact on business. Compliance with laws and external regulations is perhaps more important than internal compliance in domains with less impact on business performance.
Example: If you choose to park your car on your bosses parking space might be a challenge for you personally however in most cases such an act would have minimum impact on business performance of an organization observed. In this case you have made a decision to break the rule. Was the benefit of having a few minutes extra since your bosses parking lot is way closer to your desk than yours, bigger than risk your action exposed you to, remains unknown in this scenario. We don’t know your boss, we don’t know compliance tolerance levels and we don’t know the culture of your organization.
To be on a safe side perhaps taking a bus would be the right approach or getting there earlier.
Compliance with laws and regulations is a must. Some organisations are worried about their compliance because they are using business models or resources that are perhaps not regulated yet.
Managing compliance risks may be complex especially in regulated industries such as financial, insurance and pharma.
Diagnostic review of your compliance maturity level might help your organisation in identifying opportunities for achieving an optimal compliance level for your organisation. Please get in touch!