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Multinational corporations spend millions of dollars per year on compliance. In highly regulated industries, such as health care and finance, large companies spend much more, sometimes hiring hundreds or even thousands of compliance officers at a time. There is often a belief on the part of corporate leaders that when rigorous compliance programs are in place, employee wrongdoing will largely disappear.If something does go wrong, the hope is that having a comprehensive program will help convince regulators that the company's compliance initiatives were "effective,"the standard used in U.S. sentencing guidelines. Unfortunately, even today's most comprehensive programs won't curtail corporate wrongdoing or the government intervention that follows. Volkswagen AG's compliance program didn't stop its employees from installing "defeat device"software to cheat emissions tests, nor did Wells Fargo & Co.'s policies prevent its employees from opening new customer accounts without authorization. More than 15 years after the Enron Corp. scandal, most companies know very little about how employees make ethical decisions or the psychological mechanisms that cause them to perform unethical and illegal acts. Even fewer have compliance strategies aimed at curbing such behaviors. The goal of this article is to pull together the burgeoning field of behavioral ethics, which provides insight into how individuals make ethical decisions, with the work of criminologists who study individual and corporate criminality. The author seeks to explain why corporate compliance efforts are falling short and how those efforts can be improved. In addition, he offers practical and cost-effective strategies for improving compliance programs that focus on employee behavior, which he says is the best way to make compliance truly effective. Corporate compliance depends on the behavior of individual employees. If employees, officers, and managers always acted in a law-abiding and ethical manner, compliance failures would rarely occur. But that is not realistic. That is why companies need to be aware of how and why employees act the way they do. This starts with understanding how people make decisions generally and how that translates to ethical decision-making. The article describes eight common rationalizations used by those committing unethical and illegal acts within companies. Corporate leaders need to understand these rationalizations and be able to identify their usage as part of an effective compliance program. The author acknowledges that no compliance program will entirely eliminate bad employee conduct. But behaviorally cognizant programs, ones that seek to understand employee decision-making and target the cognitive mechanisms that foster unethicality, hold the promise of reducing unethical and illegal behavior within a company.
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The Trouble With Corporate Compliance Programs is a Harvard Business (HBR) Case Study on Organizational Development , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. The Trouble With Corporate Compliance Programs is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. The Trouble With Corporate Compliance Programs case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. The Trouble With Corporate Compliance Programs will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.
The Trouble With Corporate Compliance Programs case study solution is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Organizational Development, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of The Trouble With Corporate Compliance Programs, is to not only build a competitive position of the organization but also to sustain it over a period of time.
The The Trouble With Corporate Compliance Programs case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
In the Texas Business School, The Trouble With Corporate Compliance Programs case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – The Trouble With Corporate Compliance Programs
The first step to solve HBR The Trouble With Corporate Compliance Programs case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Compliance Unethical is facing right now. Even though the problem statement is essentially – “Organizational Development” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Compliance Unethical, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.
Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the The Trouble With Corporate Compliance Programs.
The external environment analysis of The Trouble With Corporate Compliance Programs will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in The Trouble With Corporate Compliance Programs case study. PESTEL analysis of " The Trouble With Corporate Compliance Programs" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with The Trouble With Corporate Compliance Programs macro-environment and how it impacts the businesses of the firm.
To do comprehensive PESTEL analysis of case study – The Trouble With Corporate Compliance Programs , we have researched numerous components under the six factors of PESTEL analysis.
Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.
Government policies have significant impact on the business environment of any country. The firm in “ The Trouble With Corporate Compliance Programs ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.
Data safety laws – The countries in which Compliance Unethical is operating, firms are required to store customer data within the premises of the country. Compliance Unethical needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.
Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. The Trouble With Corporate Compliance Programs has numerous instances where the competition regulations aspects can be scrutinized.
Import restrictions on products – Before entering the new market, Compliance Unethical in case study The Trouble With Corporate Compliance Programs" should look into the import restrictions that may be present in the prospective market.
Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Compliance Unethical in case study “ The Trouble With Corporate Compliance Programs ” should look into these export restrictions policies.
Foreign Direct Investment Policies – Government policies favors local companies over international policies, Compliance Unethical in case study “ The Trouble With Corporate Compliance Programs ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.
Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.
Tariffs – Chekout how much tariffs the firm needs to pay in the “ The Trouble With Corporate Compliance Programs ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Compliance Unethical can compete against other competitors.
Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at The Trouble With Corporate Compliance Programs case study have to assess whether their business can benefit from such government assistance and subsidies.
Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.
Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.
Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.
Corruption level – Compliance Unethical needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.
Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.
Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in The Trouble With Corporate Compliance Programs case study. PESTEL analysis of " The Trouble With Corporate Compliance Programs" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
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