Situation: Regulatory Situation

Hi, welcome to the seventeenth day of The Leads Intellectual challenge: a 30-day challenge with Fatai Kareem. If you would like to know more about conditional situation, read the sixteenth day challenge here.

Today, he will be discussing another type of situation known as regulatory situation. . Have you been why there are terms and conditions for most things you subscribe for? How will you feel if your data are manipulated? What will happen to an organisation that breach privacy policy? Why are policies made?

Well, Understanding this situation will enable you to achieve the desirable result you want from your activities. What is regulatory situation?

Regulatory situation is a situation which occurs to control the affairs or effects, or limit the scope of a condition such as an activity, a process, an occurrence, a conduct or whatever the object of control is. This situation is usually put into existence in order achieve a particular purpose by putting rules, policy, regulation or code of conduct in place. This situation can be identified by regulation, rule, policy, code of conduct or terms and conditions , and the purpose it aims at fulfilling. It can be created through the enforcement of rules, regulations, policy, code of conduct, or terms and conditions. Whatever the mechanism of regulation that is used, the purpose is to achieve a particular goal by setting out what is permissible and what is punishable, monitoring the affairs of the object of regulation and enforcing the mechanism of regulation put in place.

This situation can occur as an intervention of an authority such as the government or its agency or an organisation to regulate a condition that has adverse effect on the economy, society or group of people. It can also occur due to the need for standard or code of conduct or governance that will govern the affairs or conduct of a group of people or an organisation within and with other people. Therefore, stating the dos and don'ts of their conducts. This will ensure that only the permissible conducts are exhibited while the unacceptable ones are prevented or punished.

It is important to understand possible situations that can come up and set up control measures to regulate its effect. This can involve putting in place measures that prevent undesirable effect from occuring or rising, mistakes or error from occuring or being transferred to another condition, failure, interruptions, manipulation, breach, non-compliance, or any unfavourable situation. These measures may involve incurring cost. However, the benefit must be greater than the cost. Likewise, this situation should not be used at the detriment of the weak or the object of control. For example, employer should not use a policy that will deprive the employees their right.

To put an effective regulatory situation in place, the following steps maybe helpful:

• Define the need for the situation: For an existing situation, understand the problem or undesirable effect the situation is causing. This problem or undesirable effect defines the need for regulatory situation. For future situation, understand the possible problems or undesirable effect the situation could cause. This problem or undesirable effect defines the need for regulatory situation. This will enable you to know what you are aiming at achieving by putting the regulatory situation into action.

• Determine the factors involved:  this involves understanding those things that are or can cause the problem, and the ones affected. 

• Determine the relationship between these factors: this involves understanding the relationship between these factors. This will enable you to distinguish between independent factors and dependent factors, the process involved in their interaction and ways of managing their effects.

• Determine how to eliminate or minimise those critical factors causing or can cause the problem: this involves understanding how to eliminate or minimise those things that are causing or can cause the major problem especially the independent factors. And determine the right things to be done to solve the problem.

• Form the regulations: this involves coming up with rules and regulations, policy, measures, etc., that will ensure that the right things are done while making it difficult for wrong things to be done. This should entail the steps to be followed in carrying out the permissible conducts and preventing the undesirable conducts. Also, what to be done when the regulation is violated, or in case it fails.

• Create awareness about the regulations: this involves making the regulations to be known and understood by those that will be affected or regulated.

• Implement the regulation: this involves carrying out those things that will solve the problem with respect to the rules and regulations, policy, code of conduct, etc., put in place.

• Set up monitoring and control measures: this will enable that the challenges of implementing the regulation are well addressed, and necessary actions are taken to manage the affairs of situations.

• Review the progress: this will enable you to if you are achieving the right result and at what pace.

Case study

1. ABCDE is body responsible for controlling environmental pollution in XYZ city. This body has put some policies and regulations in place. Yet, the people in this area are still engaging in activities that promote environmental pollution. This body does not monitor the activities of these people. Will ABCDE be able to achieve its goal? What should it to do achieve its goal?

2. Beauty is in need of money and goes to her friend, Joy, to borrow money. Joy has asked her to sign a document that she will pay her back. Beauty feels bad that her friend can think that she will not pay her back. Has Joy done a wrong thing? What is Joy trying to prevent? If no document is signed, can Joy claim her money when Beauty denies borrowing from her?

Disclaimer: All names used are for illustration purpose.

Do you find this challenge helpful. Share with family and friends. It maybe helpful to them as well.