Irina Luxem

What are the factors that make a successful compliance management system and how does a compliance management affect the company´s business? (eBook, PDF)

A study of various companies of the German tourism industry

• Format: PDF

Produktbeschreibung

Master's Thesis from the year 2015 in the subject Business economics - Business Management, Corporate Governance, grade: 1 / A / Distinction, ( Middlesex University in London ), course: Compliance Management, language: English, abstract: 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.

Produktdetails

• Verlag: GRIN Verlag
• Erscheinungstermin: 12. August 2015
• Englisch
• ISBN-13: 9783668029521
• Artikelnr.: 43556288

Inhaltsangabe

Table of Contents Executive Summary Acknowledgements Table of ContentsV Table of Illustrations List of tables List of Figures Table of Abbreviations 1Introduction 1.1Purpose 1.2Issue Context 1.3Aims and Objectives 2Literature Review 2.1Principles of Compliance Management 2.1.1Definition 2.1.2Background 2.1.3Standards 2.1.4German Standards 2.2Compliance Management System 2.2.1Dissociation of Risk Management and Ethics 2.2.2Implementation 2.2.3Motivation – Benefits and Costs 2.2.4Framework 2.2.5Factors of Success 2.3Compliance Management System in the Tourism Industry 2.3.1Tourism Industry 2.3.2Extension 2.3.3Framework 2.3.4Best Practice 2.4Summary of Literature Review 3Methodology 3.1Introduction 3.2Identifying a Topic (Justification) 3.3Research Approach 3.4Formulate a plan 3.5Techniques and Methods 3.5.1Collecting Secondary Data 3.5.2Collecting Primary Data 3.5.3Research Ethic 3.5.4Analysing Data and Presenting Findings 3.6Strengths and Limitations 4Data Analysis and Interpretation of Findings 4.1Introduction 4.2Consultancy firms’ perception of Compliance Management 4.3Sample Companies 4.3.1Operator: Hotel Reservation Service 4.3.2Transportation: Aviation Lufthansa Group 4.3.3Accommodation: Kempinski Hotels 4.4Compliance Management of Sample Companies 4.4.1Importance 4.4.2Motivation 4.4.3Implementation 4.4.4Framework 4.4.5Factors of Success 4.5Summary of Primary Research 5Conclusion and Recommendation 5.1Conclusion 5.2Companies Recommendation 5.3Further Research Recommendation Appendices Research Ethics Approval Form List of References