By Adam Turteltaub

Professors Todd Haugh (LinkedIn) and Suneal Bedi (LinkedIn) of the Institute for Corporate Governance & Ethics at the Kelley School of Business at Indiana University recently published a paper: Retheorizing Corporate Compliance. In it they argued strongly that compliance needs to be seen not just as a defense against potential corporate legal liability. It also needs to be recognized as a proactive offensive tool for building market share and competitive advantage.

On this podcast they explain that compliance creates numerous non-market strategies for helping the business. For example, organizations with stronger programs can demonstrate to regulators that they would be a good choice to acquire a troubled company. Leading compliance programs can also help to set the standard of practices for their industry, giving their organizations an advantage over those with lagging compliance practices.

In sum, by thinking of how compliance can help the business, not just protect it, there are significant opportunities created to grow the business, and change the way people think about compliance.

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The Compliance Perspectives Podcast is sponsored by Athennian, a leading provider of entity management and governance software. Get started at www.athennian.com.