"Compliance" is now considered a fundamental requirement for the "license to operate" and represents a critical management function for companies. Numerous corporate scandals related to compliance violations suggest that companies are not always able to manage enterprise-wide compliance risks adequately. This is partly due to the lack of an established procedure for evaluating compliance success. As a result, there is a legitimacy problem for responsible leaders, as compliance expenditures are difficult to justify. Therefore, compliance must no longer be viewed as a cost factor but as a demonstrably value-adding management tool. This Quick Guide illustrates how the value contribution of compliance can be optimized in medium-sized and large companies.

Contents

• Compliance as a balancing act between costs and benefits
• Empirical insights from the compliance success model
• Recommendations for optimizing compliance success

The Authors

Prof. Dr. habil. Stefan Hunziker is a Professor of Risk Management at the Institute of Financial Services Zug (IFZ) at the Lucerne University of Applied Sciences and Arts.

Prof. Dr. Mirjam Gruber-Durrer is a Professor of Normative Board Management at the Institute of Financial Services Zug (IFZ) at the Lucerne University of Applied Sciences and Arts.

Prof. Dr. Christian Hauser is a Professor of Business Economics and International Management at the Swiss Institute for Entrepreneurship (SIFE) at the University of Applied Sciences of the Grisons.

Jeanine Bretti Rainalter is a research assistant at the Swiss Institute for Entrepreneurship (SIFE) at the University of Applied Sciences of the Grisons.

The translation was done with the help of artificial intelligence. A subsequent human revision was done primarily in terms of content.