As a place to start, we would recommend a small focussed piece of work which has the following objectives:
- Understand the issue as it relates to your business.
- Understand the likely impact across your organisation.
- Identify, educate and mobilise an effective cross-functional governance team.
- Establish an effective legislative monitoring capability.
- Define an initial ‘Target Response’.
- Define a plan of action.
- Identify any initiatives that are currently underway and define how they should proceed.
- Understand the high level budgetary implications.
From here, a programme of activity can be implemented to effectively manage the legislative risk and oversee subsequent capability deployment.