Despite being generated in a time when heavy manufacturing was more predominate, the competitive framework developed by Michael Porter (Harvard Business Review, 1977) is valuable for Website Services businesses.
Although compliance usually translates as following judicial decision, statutes and regulations, compliance in modern times has added a new limb: policy compliance. The heart of the modern governance structure, be it civil or corporate, is policy formulation and execution.
In the past few months so called “tax effective Managed Investment Schemes” (the MIS Sector) have been failing. Most notable were forestry product based Timbercorp and Great Southern.
New contract regulations for B2C transactions, important notes to consider and how to make sure your business can comply.
It may seem to be easier to ignore compliance issues. The opportunity cost of compliance can certainly equate to missed sales. On the other hand, it only takes one dissatisfied, or vindictive, customer or supplier to complain.