The need to manage risk, adhere to regulations, and establish processes to govern those tasks has been part of running an organization as long as there have been businesses to run.
But those tasks have become increasingly critical to organizational success in the modern era, as the number of laws, the complexity of doing business, the types of risks, and the use of technology have exploded in recent decades.
Today even small-scale operations can have a global footprint, forcing them to contend with international laws and a slew of threats that could cripple or shutter their businesses if they’re not adequately managed.
