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3 Ways Business is Changing in the Information Age

StrategyDriven Tactical Execution Article |Digital Technology|3 Ways Business is Changing in the Information AgeYou’ve probably heard it countless times before, but every company is a tech company now. The nature of the information age is that if you aren’t keeping up with the latest in digital technologies, even the simplest of businesses can quickly fall behind the competition.

Accessing, analyzing and utilizing information is essential for businesses. Even if you are only running a small side hustle, the more information you have and the more you can manipulate it, the more efficient and successful your business could be.

But knowing that technology will impact your business in the future is not enough. Business owners need more than entrepreneurial flair and a good head for numbers these days, they also need to understand their corporate responsibility, their duty to their customers and, above all else, how to comply with business regulations in their industry. And they need to realize that this is happening now.

Compliance is Key

In the information age, compliance has become a huge part of business. For example, health care isn’t just about diagnosis and treatment any more, it’s also about managing data, maintaining customer privacy and implementing technological systems to improve performance.

As business gets more and more complex, so the law has to keep up. But businesses need to keep up to and a proactive approach to compliance is the best option. For example, a SOC 2 for Healthcare demonstrates an understanding of responsibility and a duty of care to the customer.

Your Customers Know You

The information age has democratized knowledge. For businesses, the information age means that consumer profiles and targeted advertising are more effective than ever before. But increased knowledge goes both ways and consumers are more likely to know about your business too.

Consumers are much more concerned with ethical business practice than ever before because the have access to the information. Companies that fail to live up to their customer’s standards in any way – socially, environmentally, economically – can stand to lose and lose quickly.

Take Responsibility

One of the most important lessons businesses can take from this age is that they have a responsibility. Taking responsibility isn’t just about apologizing and carrying on any more. As consumers have woken up to bad business practices and the law has tightened up, any company reputation ultimately comes down to their sense of responsibility. And, while rebuilding a business reputation might sound easy, it is far easier to do the work first.

All businesses have a responsibility to their consumers to provide a product worth their money but they also have social and environmental responsibilities too. No business can operate in a vacuum and understanding the impact your business has – good and bad – is essential for building a positive impact model to guide your business forward.

The information age has in many ways made doing business more challenging. However, this relatively new landscape is also providing new potential for businesses to behave properly and serve their customers even better. The world is changing and businesses need to keep up!

5 Must-Haves for Successful Compliance Training

Compliance training is critical for the success of an organization. It informs and educates employees on the laws, policies, and regulations that will have an impact on their jobs. It covers areas like anti-harassment, workplace safety, and diversity, among others. So, what makes compliance training successful? Keep on reading and we’ll list down some of the must-haves.

User-Friendly Software

Gone are the days when compliance training was conducted in an in-classroom setting. We are living in a digital age, and hence, training programs are also digital. That said, one of the most important things to keep in mind with such digital compliance training programs is to use the right software. Learners will be able to access training and reading materials online. They can even access compliance blogs, videos, and audio files that can help improve their knowledge.

Looking for a user-friendly enterprise solution and software that can be utilized for compliance training? While the options will be diverse, one that should be on your radar is True Office Learning.

Consistent and Long-Term Implementation

One of the most important for compliance training is for it to be consistent. Meaning, it should not be a one-time thing. Rather, it should be a long-term endeavor. It should be conducted several times to make sure that it will stick. The training should also be regularly refreshed, which will make it possible to reflect the changing policies.

Strong Leadership

To create a culture of compliance and to ensure the success of the compliance training programs, it is important to have strong leadership that is involved. Take note that compliance should be a function from the top to the bottom. Meaning, even the CEO must be part of the compliance training. Plus, the management should have the budget and the tools that are necessary to carry out the compliance training. It should be seen as a valuable investment.

Engaging and Effective Approach

The goal is to implement compliance training in such a way that it will not bore the participants. If it is monotonous, it will be ineffective when it comes to skill and knowledge retention. With this, think of the different ways to make training fun and entertaining. If you are using training software to teach compliance to the employees, it should have a user-friendly interface and culture of gamification must be infused.

Customized to the Needs of the Business

A successful compliance training program is tailor-fitted to the specific needs of the organization and the participants. There is no one-size-fits-all strategy that will work for all the users. Having a customized approach to compliance training starts with the need to determine the target audience to be able to identify what will work best for them. The specific goals of the organization will also have an effect on the way the training will be conducted.

In sum, as discussed above, successful compliance training must have a user-friendly software, long-term implementation, strong and supportive leadership, engaging approach, and tailor-fitted to the needs of the organization.