Develop a quality system for the business in line

[Midfielder]

Post your tho's on this element on this thread.

[rosebud]

Every business must meet compliance requirements. This is the law.
The number and complexity of compliance requirements depends on:
your business structure
the type or business you will operate
the industry your business will operate in
Compliance means the observance and application of all legal, tax, accounting, workplace and safety laws and regulations that affect your business.
Depending on your business, the following Government Departments require compliance and application of their requirements:
Australian Securities and Investments Commission (ASIC)
Australian Taxation Office (ATO)
Australian Competition and Consumer Commission (ACCC)
Download the NSW Department of Fair Trading Starting a Business brochure
Visit the NSW Business Licence Information Service
www.smallbiz.nsw.gov.au/start/earlystages/prestarters/Pages/Howwillyoumeetyourcompliancerequirements.aspx

[nirmala]

Re: Develop a quality system for the business in line with industry standards, compliance.....

1. Compliance means the observance and application of all legal, tax, accounting, workplace
and safety laws and regulations that affect your business.
2. Every business must meet compliance requirements.
3. The type of business you might operate.
4. The industry your business will operate in.
5. Australian Securities and Investments Commission (ASIC)
6. Australian Taxation Office (ATO)
7. Australian Competition and Consumer Commission (ACCC)

To comply with the standard one will first need to implement a QMS. Implementing a QMS can help one’s business to:
1. achieve greater consistency in the activities involved in providing products or services
2. reduce expensive mistakes
3. increase efficiency by improving use of time and resources
4. improve customer satisfaction
5. market your business more effectively
6. exploit new market sectors and territories
7. manage growth more effectively by making it easier to integrate new employees
8. constantly improve your products, processes and systems

[ashrafun]

Quality management system (QMS) standards establish a framework for how a business manages its key processes. They can help whether one’s business offers products or services and regardless of your size or industry. They can also help new businesses start off on the right foot by ensuring processes meet recognised industry standards, clarifying business objectives and avoiding expensive mistakes.
To comply with the standard one will first need to implement a QMS. Implementing a QMS can help one’s business to:
1. achieve greater consistency in the activities involved in providing products or services
2. reduce expensive mistakes
3. increase efficiency by improving use of time and resources
4. improve customer satisfaction
5. market your business more effectively
6. exploit new market sectors and territories
7. manage growth more effectively by making it easier to integrate new employees
8. constantly improve your products, processes and systems

There are five key steps involved in implementing a quality management system (QMS):
1. Analysing business by breaking it down into key areas. These will tend to be those that are crucial to customer satisfaction. Senior staff should determine the needs of the business and design the system around these.
2. Planning approach by deciding which resources business operations need and discussing the effectiveness of existing processes with staff.
3. Deciding if new processes are necessary and telling staff about them - provide training if necessary.
4. Checking that the processes are working by appointing someone to be responsible for the system and ensuring proper procedures are followed. Targets need to be set for how each process contributes to the success of business goals.
5. Revising processes where necessary and continuing to review them regularly.
It's essential that business owner is committed to the implementation of a QMS. Without this support it will be very hard to convince employees of the benefits. Owner is also required to create a quality manual containing documentation on how processes should be followed. It should specify how the QMS will be observed and emphasise the business' commitment to quality and continuous improvement. He/she should consider using a version control document to keep your manual in order.

[poonam]

Compliance means the observance and application of all legal, tax, accounting, workplace
and safety laws and regulations that affect your business
In developing your quality system we can include OHS, Environmental and other corporate structures for specific needs within your business and its customers, especially if the latter change their supplier requirements (a good example of the latter is the new National Building Code). You may need a quality system in place to work on these projects.

business Quality Systems services clients from a wide industry base including:
• Building - Construction - Engineering - Design
• Information Communications Technology (ICT)
• Health - Law - Accounting - Recruitment
• Motor Trades - Manufacturing - Services
• Registered Training Organisations (RTO)
Business Quality Systems can assist your business to attain preferred supplier status with both government and private clients. The process can be started in person or via online data transfer (in the preliminary stages).
Business Quality Systems has set its own benchmark of achieving Total Customer Satisfaction.


www.businessqualitysystems.com.au/index.html

[anilla]

In the context of banking, banks are required to follow the Banking Code of Conduct which help it stay in with industry standarrds, compliance requirements and cultural criteria.

The Code of Banking Practice establishes the banking industry’s key commitments and obligations to its individual and small business customers on standards of practice, disclosure and principles of conduct for their banking services.

The Code is a good example of industry self-regulation and of the banking industry’s response in meeting the interests of customers in a dynamic and changing retail banking services market.

The Code is not legislation but when your bank adopts the Code, it becomes a binding agreement between you and your bank. In some respects the Code provides for situations not covered by the law and in others goes further than the law in providing rights and obligations.

The ABA has established the Code Compliance Monitoring Committee (CCMC) which will monitor compliance and have the power to publicly name a bank which has been found guilty of a serious or systemic breach of the Code.

Key commitments

Key commitments made by banks in the Code include to continuously work towards improving the standards of practice and services in the banking industry, to promote better informed decisions about banking services and to act fairly and reasonably in a consistent and ethical manner. The conduct of the bank and the customer and the banking services contract are taken into account in this third key commitment.



The Code of Banking Practice gives customers rights that the bank must observe.

These rights cover matters such as:


disclosure of fees and charges and other terms and conditions;
changes to terms and conditions and fees and charges;
disclosure of general information about banking services;
privacy and confidentiality;
statements of account;
copies of documents;
direct debits;
chargebacks on credit cards;
debt collection;
complaints handling.



The Code also provides for high standards of disclosure for prospective guarantors before they agree to guarantee someone else’s debt to the bank.

www.bankers.asn.au/Default.aspx?ArticleID=906