Moreover, when reviewing regulatory compliance, effective leadership should also put into consideration the compliance profile of other stakeholders such as third-party vendors utilized to deploy, develop or enhance the commodity. While the firm can accurately decide to outsource all or some of the operational features of the commodity, they can hardly outsource the accountability for complying with regulations and laws of the land. A robust 3rd party vendor oversight and management process should evaluate all applicable threats, including those linked to privacy, information security and adherence to all the applicable guidelines. Besides the compliance considerations, different aspects of the proposed commodity may affect the organization profile (Hawkins,Turner & Hailstone 2008). For instance, a firm that aims at capturing the niche markets, provides only specialized or distinct items, or utilizes nontraditional distributional methods should determine how it is assisting the needs of the targeted population. Economists recommend that management should evaluate the potential implications of the new item on the firm's ability to meet the needs of the society prior to implementation. A company might find it desirable to submit its strategic plan to its regulators for official approval. A recommendable practice is to periodically evaluate the company's performance and examine its objectives relative to the performance principles contained in the strategic plan and its implementing guidelines. .
1.2 Organization Culture.
Firm's top management should ascertain that the company' culture promotes constructive robust and dissent dialogue around all important issues. This could be enhanced by documenting dissenting considerations and opinions along with the novel product recommendations (Stanford2011). When companies merely boost the existing commodities to meet client's demand, the resulting novel item may not have a recognizable implication on the organizational business processes or profiles.