How businesses should manage the regulatory environment

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Which of the following best describes how businesses should manage the regulatory environment? Top managers must take responsibility and be accountable for assessing legal risks and developing corporate programs that promote and reward acceptable conduct. Businesses should try to follow all of the laws that apply to doing business and should also consider the economic implications of their actions. Companies should maintain their primary focus of making a profit, and then try to operate in the regulatory environment. Businesses should hesitate to punish employees who have committed an illegal or unethical act in order to protect the reputation of the company. The company should hire a consulting group to deal with compliance with laws and regulations since managers have more important matters to address.

Reference no: EM131114545

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