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Compare, contrast and evaluate the advantages and disadvantages of different corporate strategies for compliance with regulation that is followed by firms in two differently regulated industries

The automotive and tobacco industries are regulated in extremely different ways due to the different processes they engage in. The reason why I chose these examples in particular is due to the fact that the vastly different dangers the two industries are exposed to, give rise to fundamentally distinct strategies which despite their differences aim to achieve the key goal of any company when it comes to regulation compliance. As a result this essay examines the similarities and differences between the two compliance strategies argues which one is most appropriate as well as most effective. Philip Morris regulatory compliance statement is indicative of how much they value the preservation of their integrity as a firm. Nothing is more important than our commitment to integrity- no financial objective, no marketing target, no effort to outdo the competition. No desire to please the boss outweighs that core commitment. Our commitment to integrity must always come first. Preserving the core values of their firm comes first and is a commitment made to not only the society, but also to its shareholders, its business partners and its colleagues. They honor the commitment and always act with honesty and integrity. Tesla on the other hand, has a freer approach to its regulation compliance strategy. Despite this fact, Tesla is an always growing company not only about its revolutionary automotive manufacturing processes but its also revolutionary in regard with building a future proof system that empowers you to quickly embrace new requirements and new technologies as they come available, also always being at the ready to adapt to the best methods to reduce risk to your enterprise and demonstrate your security to your stakeholders