MNGT 4100 International Management compliance programs assignment

MNGT 4100 International Management compliance programs assignment

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How can compliance programs be beneficial to a company when management feels there is no risk for the business operation? How would you retain management’s support of a compliance program for a firm based in the US but operating in multiple countries? Please respond to a class colleague after posting your responses to this question. Just because there is no risk for the business today, it doesn’t mean that there will be no risk in the future because in our global world things change fast. To be in line with legal and ethical requirements is beneficial for a business since it decreases the risk of facing high costs that might occur in the future. Compliance programs are more like a long-term way of thinking because they don’t generate any noticeable straight profits on a short-term basis, but on a long-term basis customers and other companies might prefer doing business with you or buying from you, if they see that your company is socially responsible. Nowadays we care more about the environment, find a cure for certain illnesses and other things that prolong our lives. It’s not uncommon as mentioned in other discussion postings to choose where you make your purchases based on a company’s image, how they treat their employees, if they care about the environment and what support a company gives to the community. I would retain management’s support by pointing out that a compliance program is a long term benefit for the company regardless of in which countries the company operates in, because a compliance programs can be applied everywhere. Depending on which countries the firm operates in and what people value in those countries a compliance program can be standardized or customized to the specific country. Also compliance programs are a good way
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