Compliance Management

Today, the world of business is changing rapidly. There are new governments and international policies placing new regulations on business; the global pandemic has led to new ways of working; and, technology is leading businesses to change faster than ever. This is important for businesses and business professionals in any industry to know—because this change ultimately impacts the way businesses do business. That is, the immense changes that are taking place nowadays have an immense impact on how businesses set goals, interact with one another, reach consumers, and engage employees. However, amidst all of these changes, some businesses are falling behind.This raises the importance of the concept of compliance. Although traditionally, compliance has simply been understood as a way of ‘following the rules’, it does have a much more significant impact on business today, and on the future of business. Not only this, but there are several aspects, applications, and implications of compliance nowadays that not only help businesses adhere to rules and regulations; but, these same aspects of compliance also can help businesses grow and succeed.  As such, it is important to understand what compliance is and to have a comprehensive understanding of how compliance, compliance management, management systems, and other aspects of compliance impact business.The following research will seek to provide this understanding. By demonstrating what compliance is, how it functions in business, why it is important, how businesses can benefit from it, and how it can help all businesses create sustainable and effective solutions in the future; this research will provide a comprehensive summary of compliance. The outcomes of this research can be used by businesses and business professionals to increase their understanding of compliance, and to have a better understanding of how business impacts them—and how it allows them to ensure their success today, and in the future.