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Home   Membership   Education   Events   Resources   External Affairs      June 12, 2014

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Risk, compliance and security management go hand in hand
Many organizations are required to meet compliance regulations, and the numbers are only growing, fueled by constantly evolving legislation that creates new rules, requirements and auditing procedures. With the growth of regulations, more and more businesses will feel the burden of compliance, while those already impacted will undoubtedly have more rules levied against them. The funny thing here though is that most compliance requirements are seen by businesses as an unnecessary burden that was legislated into existence to protect external entities. However, properly enforced compliance policies can protect organizations from a myriad of problems - ranging from security breaches to lawsuits to corporate espionage, an irony appreciated by very few.
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The independent contractor as a corporation: Taking advantage of the law
By Laurence D. Gore
Numerous travel agencies make use of a host agency and, in so doing, become effectively the host's independent contractor. There are many good reasons to also consider use of the corporate structure by the individual agent. In fact, it often makes more sense from a liability standpoint of the independent contractor to exist as a corporation rather than as an individual. In the regretful possibility of a lawsuit against the individual, it is quite possible to expose one's entire assets to a judgment. These scenarios are not that far-fetched.
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Preserving your reputation is easier than repairing it
"It takes 20 years to build a reputation and five minutes to ruin it." - Warren Buffett
For so many companies, reputation management can be a knee-jerk, reactionary move. But as with your health, prevention is always better than the cure. And smart businesses know that putting in the groundwork can pay huge dividends when you need it most. Reputation and crisis management should always be considered as part of a long-term public relations strategy. In fact, it should be the cornerstone. In the age of lightning fast social media, where a reputation can be destroyed with a stray tweet, companies simply cannot afford to view crisis management as a "nice to have".

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Russia and India issuers have most downgrade risks in emerging markets
24/7 Wall St.
Standard & Poor's recently issued a somewhat cautious note covering emerging markets. While many of these international markets have downgrade risks, S&P noted that Russia faces the largest downgrade risks of them all. S&P showed that the highest concentration of potential downgrades was 17 Russian issuers. India was shortly behind it with 14 issuers.
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Missed last week's issue? See which articles your colleagues read most.

    How leaders win with strategic innovation (By Scott Steinberg)
Finally, a court decision that defines 'reasonable' medical leave (HR Morning)
Whistleblowing a growing threat to companies in health care (InsideCounsel)
There's liability for the acts of your volunteers (TheNonProfitTimes)

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FM Global's 'Resilience Index' ranks 130 countries' supply chain sensitivity
Business Insurance
FM Global has released a new Resilience Index that ranks 130 countries in terms of their susceptibility to supply chain disruptions and provides companies an online tool to assist in making supply chain decisions. The index is based on nine factors: gross domestic product per capita, political risk, oil intensity — a measure of a country's vulnerability to changes in oil prices and supply, natural hazards exposure, the quality of the country's natural hazard risk management, the quality of the country's fire risk management, how well the country controls corruption, the quality of its infrastructure and the quality of local suppliers.
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7 mistakes to avoid when choosing your business advisors — Part II
By David B. Mandell, JD, MBA, and Jason M. O'Dell, MS, CWM
Savvy business owners typically rely on a team of advisors for assistance in running and growing their business. At their best, advisors can add tremendous value on an array of areas — from business decisions, to corporate and deal structure, to tax and financial results. Because of this, it is critical that business owners take seriously their process for hiring and evaluating advisors and look for second opinions where warranted. In this second part of a two-part article, we examine three more pitfalls common to practice owners and executives when working with advisors.
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Corporate misconduct: Everyone loses
HR Executive Online
Talk about one bad apple spoiling the whole bunch. A new Penn State University study finds the announcement of one public firm's misconduct can have negative consequences for other public companies in the same industry, in the form of decreased investor confidence. Srikanth Paruchuri and Vilmos Misangyi, associate professors of management and organization at PSU's Smeal College of Business, studied accounting irregularities that resulted in financial restatements, in which the company in question had to revise and publish one or more previous financial statement.
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What you should know about age discrimination in hiring
American Express OPEN Forum
Thanks to The Age Discrimination in Employment Act of 1967 and its more recent cousin, the Older Workers Benefit Protection Act that was passed in 1990, it's illegal to discriminate against anyone over the age of 40 when it comes to hiring, promoting, setting wages or terminating someone's employment. But the sober truth is, there is ample evidence that a bias against older workers remains prevalent in the modern workplace, laws or no laws.

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Climate change, risk management and the big emitters
World Bank
The global landscape for climate action is changing quickly. The United States just announced plans to use its Environmental Protection Agency to limit CO2 emissions from power plants, and an adviser to China's government said shortly afterward that his country, where six local carbon markets are now active and stricter pollution rules were recently approved, was considering national CO2 emissions controls starting as early as 2016.

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Distracted driving risks safety, liability
Educating employees on the risks of distracted driving and creating policies around the use of mobile devices on the road is the best way to keep workers safe and reduce liability, experts say. And companies should make sure work demands don't encourage employees to take calls or answer texts behind the wheel.

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Avoid storage lock-in for disaster recovery
Business Solutions
Successful resellers are able to position themselves as trusted advisors for their customers, aligning to organizational goals, offering solutions that complement existing IT investments, and providing ways to seamlessly adapt as customer needs change. The advent of data center virtualization has helped resellers achieve these goals, but a data center function that many times remains stubbornly stuck in the past, causing headaches for modern resellers, is replication for business continuity and disaster recovery.
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Liability for imported foods and the Foreign Supplier Verification Program
Food Safety Magazine
It has been reported that approximately 15 percent of all food in the United States is imported. The U.S. Centers for Disease Control and Prevention estimates overall that "48 million Americans (1 in 6) get sick, 128 are hospitalized and 3,000 die from food-borne disease" and the U.S. Food and Drug Administration in turn estimates 36.9 percent of the 960 Class I and Class II recalls were "directly linked to lack of supplier controls." Supplier safety is a big issue for U.S. companies and consumers.
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The big consequences of cyberattacks on small businesses
CPA Practice Advisor
Small business owners and operators understand that the impact of an embarrassing or costly data breach can mean much more – up to and including loss of livelihood or the entire business enterprise. The majority of attacks target small and medium-sized businesses because they are typically much more vulnerable than large enterprises, and the effects can be devastating.
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Colby Horton, Vice President of Publishing, 469.420.2601
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