This research reports on the current situation of compliance management among business organisations. Compliance management aims to ensure that all participants of a company observe laws and regulations. It is a business process to help the management and the employees to meet requirements and governance guidelines. The following research aims to increase the awareness of compliance management in companies and among the society to decrease business crime and ethical and legal offences. Therefore, the dimension of compliance management is discovered in this work.
The first result is that the extension of the topic compliance management is very low. Mostly, just bigger and international companies have already implemented a compliance management as smaller companies suffer under the high costs of the implementation. Different standards evaluated by various institutions provide orientation on how to do responsible business by complying with these standards. It is suggested that compliance management is to be seen beside risk management and ethics, more, compliance management should be seen as requirement for risk management and ethics. A comment way of implementing a compliance management into the structures of the company´s business is proposed. In this context the GRC – Governance-Risk-Compliance - approach is introduced. As the implementation of compliance management is a very costly process, companies need to be motivated by benefits of this process. In this research the avoidable costs and the return on investment are named to be the biggest benefit of compliance management. To get an idea of how a compliance management process might look like, two frameworks are distinguished with the necessary steps that need to be considered. The management and the employees are considered to the most important part of companies. Therefore, also in terms of compliance management the people involved are the source of success.
To narrow the research, its focus is put on the analysis of the tourism industry in Germany. Compared to the generalisation, extreme differences cannot be determined in terms of compliance management. Confirmed is the aspect that the number of big companies implementing a compliance management is higher than the number of small companies.
Inhaltsverzeichnis (Table of Contents)
- Executive Summary
- Acknowledgements
- Table of Contents
- Table of Illustrations
- List of tables
- List of Figures
- Table of Abbreviations
- Introduction
- Purpose
- Issue Context
- Aims and Objectives
- Literature Review
- Principles of Compliance Management
- Definition
- Background
- Standards
- German Standards
- Compliance Management System
- Dissociation of Risk Management and Ethics
- Implementation
- Motivation - Benefits and Costs
- Framework
- Factors of Success
- Compliance Management System in the Tourism Industry
- Tourism Industry
- Extension
- Framework
- Best Practice
- Summary of Literature Review
- Methodology
- Introduction
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research explores the current state of compliance management within business organisations. It aims to raise awareness of compliance management within companies and society to reduce business crime and ethical and legal offences. The research examines the implementation, benefits, and costs of compliance management, with a particular focus on the German tourism industry.- The importance of compliance management in ensuring legal and ethical business practices.
- The challenges and benefits of implementing a compliance management system.
- The role of standards and regulations in guiding compliance practices.
- The impact of compliance management on risk management and ethics.
- The specific features of compliance management in the German tourism industry.
Zusammenfassung der Kapitel (Chapter Summaries)
The research begins with an introduction outlining the purpose, context, and objectives of the study. The literature review delves into the principles of compliance management, including its definition, background, standards, and specific German standards. It further examines the compliance management system, exploring its dissociation from risk management and ethics, implementation, motivation, framework, and factors of success. The chapter also focuses on the application of compliance management within the tourism industry, specifically addressing the industry's characteristics, extension, framework, and best practices. The research methodology chapter introduces the methods used to gather and analyze data, including a review of existing literature and primary research conducted within the German tourism industry.Schlüsselwörter (Keywords)
This research focuses on the key concepts of compliance management, risk management, ethics, business crime, tourism industry, German standards, and implementation frameworks. The study investigates the challenges and benefits of implementing a compliance management system within companies, particularly in the German tourism industry.- Quote paper
- Irina Luxem (Author), 2015, What are the factors that make a successful compliance management system and how does a compliance management affect the company´s business?, Munich, GRIN Verlag, https://www.grin.com/document/303216
