Information Governance and Legal Functions: According to the authors, Smallwood, Kahn, and Murphy, IG is perhaps one of the functional areas that impact legal functions most. Failure to meet them could be literally put an organization out of business or land executives in prison. Privacy, security, records management, information technology (IT), and business management functions are very important. However, the most significant aspect of all of these functions relates to legality and regulatory compliance from a critical perspective.
For this discussion, identify the industry you will be writing about in your final paper and discuss the regulatory compliance requirements that the company has to meet and the corresponding security, privacy, and records management functions that would need to be enabled for that organization. Remember to cite your sources and critically respond to two other learners.
Please make your initial post and two response posts substantive.
When considering the already presented legal aspects and inherent risks of cloud-based data processing for organizations in healthcare and life sciences, it’s evident that the organizations should define their requirements concerning data privacy. The definitions should consider aspects such as the selection and evaluation process of possible cloud computing providers, specific detailed requirements about service-level agreements (SLAs), as well as specifically required organizational and technical measures to which the cloud computing provider should conform. The dramatically increases transaction costs in the cloud computing market, which is already marked by high levels of information asymmetry. (S)
Regulatory compliance is essential to every business that the user will sell the product. There are many requirements, and the user has to meet these requirements. Retailers are responsible for ensuring that they comply with the various regulations that apply to them. In many cases, these regulations are applied by local, state, and federal government agencies. Retailers are responsible for ensuring that their store or warehouse complies. Retailers have been going through an extensive period of transformation, driven by a need to comply with regulatory requirements while still providing consumers with products that help them be happier and healthier. In addition to retailers who want to attract consumers, they also want to cater to the needs of more health-conscious consumers. This leads to the need for a different set of legal and operational demands(R)