How well do you understand the laws and regulations that govern how your business operates?

Our reader poll today asks: How well do you understand the laws and regulations that govern how your business operates?

• Extremely well 20.92%
• Very well 44.49%
• Well 26.23%
• Not well 6.46%
• Not at all well 1.90%

Staying on Top of Regulations. 65% of you report having a very solid handle on the laws and regulations that apply to your business. If you’re in the 35% that identifies otherwise, consider studying up on laws and regulations. Whether they’re tax, accounting, safety, government reporting, intellectual property, or security laws and regulations, they’re important to understand and comply with. They also change quite frequently and there are often substantial penalties associated with non-compliance. While they’re not necessarily the most fun topics to delve into, the outsized impact they can have on you and your organization merits their attention. Find experts in the field and consult them. Identify sources of information updates and check in on them regularly. You don’t want to be on the wrong side of a law or regulation when the authorities come around.

– Mike Figliuolo at thoughtLEADERS, LLC

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These results were originally a SmartPulse poll in SmartBrief on Leadership which tracks feedback from more than 240,000 business leaders. Get smarter on leadership and sign up for the SmartBrief on Leadership e-newsletter.