Discussion Responses

Discussion 1 The compliance and the record management is that principle of Information Governance which demands that physical and digital assets of the enterprise be highly protected against unauthorized access. Since security impacts on several aspects of the business, poorly secured data for example could lose the integrity which will qualify it to be used for effective decision making. Security breaches could also prove costly for management, particularly when customer data is involved. Infractions of the law could lead to unexpected litigation by aggrieved stakeholders. Similarly, poor or careless disposal of data could be the source of unexpected legal settlements and eventual loss of resources by management (Sinha, 2018). For my final project I will be working on the food industry. The regulatory landscape in the food industry is increasingly complex, particularly for global manufacturers and distributors. Companies have to comply with all local, national and regional regulatory agencies relevant to their business. This means keeping up with evolving regulations and ever-changing circumstances. To safeguard quality and standards, food manufacturing and distribution is highly regulated. To be fully compliant, companies need insight into their complete supply chain end-to-end from base ingredients to finished product and they must be prepared to act in the event of a contaminated or compromised product that jeopardizes customer health. This demands detailed and precise planning, execution, monitoring and assessment. Disconnected, manual governance, risk and compliance (GRC) tools and processes can be inefficient for the job (Sinha, 2018). The regulatory landscape in the food industry is increasingly complex, particularly for global manufacturers and distributors. Companies have to comply with all local, national and regional regulatory agencies relevant to their business. This means keeping up with evolving regulations and ever-changing circumstances. Guidelines and mandates must be interpreted, acted upon and compliance tracked. The impact on businesses is far-reaching across manufacturing, handling and food distribution (Sinha, 2018). Reference Sinha, S. (2018). Three-Stage Regulatory Compliance in Food Manufacturing. Retrieved from https://www.manufacturing.net/operations/article/13164177/threestage-regulatory-compliance-in-food-manufacturing Thanks. Discussion 2 Every organization’s information asset is at high risk throughout the world, few organizations are being attacked and getting ruined daily without detection. These organizations are losing their economic advantage and national secrets to corrupted rivals; this gives rise to the formation, enforcing, tastings and auditing of information governance policies. It is very important for every organization to be prepared with counter measures with the best available technologies to avoid such attacks. An unauthorized person gains access to the organizations’ computer systems by putting malware into their systems. The malware utilizes the vulnerabilities present in the organizational systems either in software or network systems. However, a large amount of traffic can be sent to a computer network, making it to crash, a process called Distributed Denial of service. Furthermore, some of the cyber attacks are considered minor and others major attacks. For example, those that lead to personal data are considered minor while industrial-scale attempts for state secrets are considered major attacks (Ivansoski, 2017). For my final project I will be working for the industry which sells the various products like home appliances, electronic gadgets etc. Regulating the compliance requirements for this industry is important. Regulatory technology can help to not only effectively manage regulatory requirements, but also help companies to enhance customer service and develop new offerings. Regulatory compliance issues are some of the most labor-intensive and complex that organizations face. Effective management of ongoing regulatory impacts and reducing compliance costs is top-of-mind. Companies want to drive strategic growth while effectively and efficiently meeting regulatory compliance obligations. Regulatory (RegTech) or regulatory compliance automation helps to both innovate front and back-office compliance activities, while driving business operations. Regulatory uncertainty poses one of the greatest challenges to a company’s ability to succeed in markets around the world and for the global economy to thrive (Ivansoski, 2017). Reference Ivansoski, J. (2017). Regulatory Technology- Innovating Compliance the Business. Retrieved from https://www.cio.com/article/3237147/regulatory-technology-innovating-compliance-and-your-business.html Thanks.