20 June When Regulation is Required (...right regulation...)

[Paul Terlemezian]

My understanding is that Drucker is talking about legislation and/or self-imposed industry standards of regulation.

 

If it is generally known that a detrimental business impact is being continued because the cost of fixing the impact would create economic disadvantage for the company then legislation may be required to "level the playing field" by requiring all companies to do it.

 

For example: If the lack of a succession plan is deemed to be detrimental (perhaps more so in a knowledge economy than in an industrial economy) then perhaps public companies should be required to have an audited succession plan?

 

What would the impact be to the training industry if this were enacted?