Enhancing Competitiveness through Compliance: Case of Technology Compliance

Abstract

Role of technology towards promoting innovations and enhancing competitiveness is very well witnessed. However, this perspective can only remain sustainable in light of stringent IPR protection which becomes essential towards ensuring sustainable competitiveness in light of the growing incidence of noncompliance in the form of digital piracy prevalent globally. The international pricing and competitiveness of goods with the use of pirated software completely distorts the market which goes against the basic international trade theory which assumes the absence of distortions in the prices of factors of production when the trading countries entered into trade only due to the commodity price differences between themselves. Taking cognizance of such a situation some states in the USA has enacted a law called Unfair Competition Act which debars US-based companies to enter into any business deals with any foreign company using pirated versions of software or hardware. In such a scenario, compliance becomes one of the most strategic tools not only to retain the market share in the US, but also to gain edge against global competing players. This paper systematically explores the status of IT compliance in India vis-à-vis global players and suggests how different sectors may respond to early compliance benefits. The paper analyses the extent of new opportunity to Indian manufacturers emerging out of this law in comparison with its main competent suppliers in the US market.

Understanding Compliance with Environmental Regulations in the Manufacturing Sector

“…Participants expressed a robust need for continuous training and updated information, a sentiment that aligns with the findings of Borella and Barcellos (2015), who emphasized the importance of proactive strategies in compliance to meet both regulatory standards and consumer expectations (Borella & Barcellos, 2015). Similarly, the Compliance Strategies identified in our study, such as the adoption of advanced technologies for monitoring and compliance, resonate with the observations of Chaturvedi, Wali, and Kesharwani (2019), who noted that technology compliance could significantly enhance competitiveness (Chaturvedi et al, 2019). The Challenges in Compliance theme highlighted in our study, particularly the financial and operational impacts, is consistent with the broader literature.…”

“…Additionally, the role of technology in compliance cannot be understated. Chaturvedi, Wali, and Kesharwani (2019) explore how compliance with technology standards can enhance a company's competitiveness. They argue that technology compliance is not just a regulatory requirement but a strategic element that can lead to significant competitive advantage, illustrating the intertwined relationship between technological advancements and regulatory adherence (Chaturvedi et al, 2019).…”

“…Chaturvedi, Wali, and Kesharwani (2019) explore how compliance with technology standards can enhance a company's competitiveness. They argue that technology compliance is not just a regulatory requirement but a strategic element that can lead to significant competitive advantage, illustrating the intertwined relationship between technological advancements and regulatory adherence (Chaturvedi et al, 2019). While understanding and adapting to environmental regulations is imperative, the practical challenges associated with these efforts are considerable.…”