Saturday, 14 July 2018

Factors influencing implementation of empowerment policies

Factors influencing implementation of empowerment policies
            According to Schlarman (2013) while technologies, process and ultimately people are the soldiers on the front lines, policy is the strategic direction that guides an organization toward objectives and goals. The importance of policy is supported by a quick review of current regulatory issues facing companies.

 Whiles regulations, whether governmental or industry driven are typically on the “grey” side when prescribing control requirements, the need for defined policy within an organization is always included. However, policy is not just a check the box activity for regulator compliance.  Policy defines the organization’s response and posture for handling specific business or management   processes. Also, Ako (2005) stated that policy must be sanctioned by executive management and reflect organizational view on acceptable business practices. 

This includes the management of risks and execution of business processes. Policy must clearly define the structure, approach and philosophy to address a specific business aspect.

            Again, Burton (2008) added that, the first iteration of policies and Standards should communicate management’s philosophy regarding the value of corporate information, the requirements to comply with policies and the consequence of noncompliance Basing these policies on well known frame work is a generally accepted good “first t step ’ policies and standards should be developed with a firm  grasp of overall business objectives and an understanding of applicable laws and regulations. 

Also, as a corresponding compliance "activity a process for testing the effectiveness of controls need  to be established  and performed on periodic basis (e.g. quarterly) and the  results need to be documented and communicated to management. This stage will provide the feedback necessary to improve the policy infrastructure based upon compliance levels and the ability to adopt practices  and integrate  controls into processes. 

In line with the above views, Igwe (Z2003) stated the importance of effective policy,    procedures and standards in his words as follows
More often than not policies are created but not property implemented resulting is employees non- compliance which eventually affect the business as whole. In terms of risk management, maintaining effective  polices within an organization can protect against liability. Many organization  rise old methods, such  as costly intranets, to post policies which get lost and are never really understood, deeming them ineffective. Policies are necessary for the protection of the organization as well as the employees.

In support of the above views, Mason (2003) stated that, it is imperative that policies are created, communicated, managed, updated and enforced (when necessary) throughout the enterprise. Every organization need to be extremely diligent on its policies as it ensures and protects intellectual property, valuable data and helps to identify legal compliance for all related, federal, state and local statutes.

 Policies and procedures: provides a set of company rules and regulations as well as consequences for non- compliance. When not enforced, policies offer little defense against legal action. A well developed policy communicated by clear procedures and followed by strict enforcement can prevent conflict as well as create compliance with legal statutes. 

Furthermore, Obi (2004) stated that, for there to be effective policy procedure and standard, there are two basic mantras for policy and compliance management- policy and compliance must progress proportionally together, policy and compliance must be holistic and include people, process and technology. These are important concepts to keep in mind during the development ‘process. 

Compliance activities should be automated and/ or facilitated as much as possible. Compliance activities and policy development must be appropriately aligned. Policy without a corresponding compliance measurement and monitoring strategy will be looked at as unrealistic, ignored dogma. 

Compliance activities without a supporting policy infrastructure will result in high failure rates given that requirements have not been properly defined and communicated.

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