If you are involved in international trade compliance business operations, you need to be clear and well aware of the rules and regulations governing the same. Some rules are established by the governments of respective nations, as per the business landscape of their countries, whereas others are established with the aim of meeting the requirements of international trade agreements. For smooth operations in import or export business, you must understand the regulations properly for avoiding risks. Failure to comply with the regulations, even unintentionally, may lead to severe consequences including seizures, fines, inspections, imprisonment and loss of market access. Laws and regulations surrounding international trade are quite complex and to understand the risks of non-compliance fully it’s better to consult a customs, accounting or tax professional.
Cyber security threats are heightening day by day and businesses, whether big or small, must take appropriate measures to strengthen their cyber security policies. Technologies are advancing and hackers are adopting more and more sophisticated techniques for data breaches, costing organizations millions. And, in addition to monetary loss, data breaches also damage the reputation and client relationships. Continue reading “Techniques to Strengthen the Cyber Security of Your Organization”
The business world is getting fiercely competitive and to maintain the competitive edge, relying only on forecast-based or budget based planning methods isn’t enough. The need of the hour is engaging in strategic planning where the objectives are clearly defined and strategy is formulated on the basis of the assessment of internal as well as external situations. Strategy formulation is then followed by implementation, evaluation and streamlining the strategy to achieve the goal. Strategic planning begins with defining the desired end and working backwards to the current status to formulate an effective strategy.
No matter how hard you work to optimize your products and services, you are bound to encounter some unhappy customers, complaining about your work. However, for succeeding in this competitive era, it’s extremely important that your employees are skilled enough to handling customer complaints and work towards customer satisfaction. Continue reading “Handling Customer Complaints – Perfect Your Approach to Resolving Issues”
GRC Implementation is the acronym for Governance, Risk Management and Compliance. It refers to the integrated collection of capabilities that help an organization in achieving objectives, addressing uncertainty and acting with integrity. GRC as a business practice aims at creating a synchronized approach toward three areas – governance, risk management and compliance. To make a business successful, it’s important to have an effective GRC platform. And, owing to the changing regulatory landscape, it’s becoming more and more important to have a heightened level of awareness about GRC for the improvement of business longevity and corporate culture. Talking about having a GRC platform, many organizations find it challenging to decide what type of platform would be suitable for them and how the suitable framework can be implemented successfully in the business. Continue reading “Key Steps for a Successful GRC Implementation”
Exporters are increasingly feeling the pressure to conform to international compliance standards if they are to enter successfully developed country markets. Food safety regulations and quality have become increasingly important globally in recent years, not only in terms of protecting the health of the consumer and ensuring food safety, but also to meet requirements for international trade. To facilitate such trade, it is necessary to implement international standards, guidelines, and recommendations for the production of safe and quality-assured foods.
In the food sector, periodic outbreaks of food-borne illnesses have led to stricter regulation, making suppliers of branded produce liable for the safety of their products unless they can show due diligence. The first thing needed by enterprises considering exporting their products is up-to-date information about the applicable technical requirements, both voluntary and mandatory, in the target markets. After obtaining the right information, enterprises have to adapt their products to export market requirements. This may require expensive investment to purchase equipment and upgrade infrastructure.