Regulatory Сompliance Quarter

Regulatory Сompliance Quarter (hereinafter, the Quarter) is a lecture introducing the learners to team analysis primarily through key topics related to business intelligence. The Quarter is the second of four lectures of Team Quadrivium, which is the sixth of seven modules of Septem Artes Administrativi (hereinafter, the Course). The Course is designed to introduce the learners to general concepts in business administration, management, and organizational behavior.

Outline

Market Engagements Quarter is the predecessor lecture. In the enterprise analysis series, the previous lecture is Social Rationale Quarter.

Concepts

1. Regulatory compliance. A legal entity's adherence to laws, regulations, guidelines and specifications relevant to its businesses. Violations of regulatory compliance requirements often result in legal punishment, including fines.

compliance

1. Standard. (1) A level of quality or attainment; (2) A concept or thing used as a measure, norm, or model in comparative evaluations.
   • ISO 9000. A series of international quality management standards that set uniform guidelines for processes to entire products conform to customer requirements.
2. Regulation. (1) A rule or directive made and maintained by an authority; (2) The action or process of regulating or being regulated.
   • Government regulation.
   • Industry regulation.
   • Enterprise regulation.

in government, typically a regulation specifically means a piece of the delegated legislation drafted by subject matter experts to enforce a statutory instrument (primary legislation) in business, industry self-regulation occurs through self-regulatory organizations and trade associations which allow industries to set rules with less government involvement

In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that organizations aspire to achieve in their efforts to ensure that they are aware of and take steps to comply with relevant laws, policies, and regulations.[1] Due to the increasing number of regulations and need for operational transparency, organizations are increasingly adopting the use of consolidated and harmonized sets of compliance controls.[2] This approach is used to ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources.

Instruments

1. Legal entity. Any entity such as an legally-adult individual or a corporation to which the law grants property rights and responsibilities. Particularly, the rights include capacity to buy and sell, enter into agreements or contracts, assume obligations, incur and pay debts, sue and be sued, as well as be held responsible for its actions.
   • Sole proprietorship. A form of legal organization in which the owner maintains sole and complete control over the business and is personally liable for business debts.
   • General partnership. A form of legal organization in which two or more business owners share the management and risk of the business.
   • Limited liability partnership. A form of legal organization in which consisting of general partner(s) and limited liability partner(s).
2. Corporation. A legal business entity that is separate from its owners and managers.
   • Closely held corporation. A corporation owned by a limited number of people who do not trade the stock publicly.
   • Initial public offering. The first public registration and sale of a company's stock.
   • S corporation. A specialized type of corporation that has the regular characteristics of a C corporation, but is unique in that the owners are taxed as a partnership as long as certain criteria are met.
   • Global company. A multinational corporation that centralizes management and other decisions in the home country.
   • Foreign subsidiary. Directly investing in a foreign country by setting up a separate and independent production facility or office.
   • Multinational corporation. A broad term that refers to any and all types of international companies that maintain operations in multiple countries.
   • Multidomestic corporation. A multinational corporation that decentralizes management and other decisions to the local country.
   • Transnational organization (or borderless organization). A multinational corporation in which artificial geographical barriers are eliminated.
3. Limited liability company. A form of legal organization that's a hybrid between a partnership and a corporation.
   • Operating agreement. The document that outlines the provisions governing the way a limited liability company will conduct business.

Practices

Workgroup Design Quarter is the successor lecture. In the enterprise analysis series, the next lecture is Enterprise Intelligence Quarter.