An article published in the Medical Daily in 2014 and written by a sociologist from Carnegie Mellon University shows how herd mentality threatens ethical decision-making. She and her husband (who were both Red Sox fans) attended a baseball game at Yankee Stadium. The negative treatment she received from the crowd led her to study mob […]
Have you dealt with banks in recent years and found yourself surprised at how much personal data they ask customers? There are important reasons behind the request. Financial institutions by law must establish the legitimacy of a customer’s identity and identify risk factors. What risk factors? Identity theft, financial fraud and other crimes, money laundering, […]
Corruption is a problem all over the world. The construction industry is consistently ranked high on corruption indexes. Corruption in the construction industry is well documented. Even a casual internet search on the topic will provide examples of corruption in bidding processes, with shady practices like cutting corners, overcharging, resulting in loss of lives in […]
COI stands for Conflicts Of Interest. They can exist inside any business no matter the size, the industry or the country where it is located. They arise when people’s personal interests (financial, family, friendship or other social elements) may interfere with or influence a judgment, a decision or actions they make in the workplace. Individuals, […]
Understanding Export Controls is a fundamental necessity for companies in general and not only for those that do business outside of the United States as the controls also apply to transactions that occur within the United States (“deemed export”). Export Controls are U.S. laws and regulations designed to protect the national security and foreign policy […]
“You don’t have to reinvent the wheel, just attach it to a new wagon.” – Mark McCormack Mark McCormack was a versatile man. He was a Yale-educated lawyer, sports agent, and he even qualified for the U.S. Open. When you read his bio, it may seem disjointed because of how varied his careers were. His […]
They’re powerful. People who study ethics and compliance challenges understand that strong, effective, and continually adapting internal controls are the bedrock of a strong business. To see their effectiveness and necessity, work backward. What is the mission, vision, and purpose of your business? As mentioned earlier, though it may be extensive, ask yourself about the […]
Starting a business is a risk. Investing money and time into your business doesn’t guarantee results. As an entrepreneur, you will be expected to take risks, but not all risks are created equal. Consider the skydiver who maintains their rig, runs safety checks like clockwork, rehearses the jumps, and plans for contingencies. Proper risk mitigation […]
Your business could be the model for compliance. Leadership has bought on and is accountable, risks have been identified and managed, and you have successfully folded corporate compliance into the fabric of your company. As efficient as your business is, do you ever work with consultants, law firms, accountants, brokers, marketing companies, or other service […]
Technological growth, as Ray Kurzweil, a futurist, inventor, and author, puts it, “…is exponential, and that makes a profound difference. If I take 30 steps literally, I get to 30. If I take 30 steps exponentially, I get to a billion.” The core concept is that technology has advanced exponentially. These advances fuel economic growth, […]
