Coca Cola Company and its network of bottlers operate in more than 200 countries, so it is obliged to follow local rules, policies and regulations. Otherwise, the high probability of this risk will result in significant fines that could excessively damage the company's brand reputation. In 2013 the company was fined $70,000 for violating Ontario health and safety regulations at the Brompton plant (Anon, 2013), in 2015 the company was fined for tax fraud in America of approximately $3.4 billion dollars (Heyed, 2015), furthermore the company was fined $61,000 for safety violations at their distribution warehouse in New Jersey in the same year (Hardcastle, 2015). The Occupational Safety and Health Administration (OSHA) has accused the company of consistently violating regulations such as congested emergency exit routes, insufficient emergency exits and unscreened holes in the floor that can cause serious dangers to personnel ( NBCnews, 2015). Furthermore, in 2017, Coca-Cola in Israel is facing a gigantic fine of $17.1 million (the highest antitrust fine ever seen in the country) for antitrust fine (Globes, 2017). Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay It can be a challenge for the Coca-Cola Company to satisfy diverse constituency projects, even if the company is participating in political avenues that can exert influence over laws, regulations, and policies that impact their business operations. The Company's Vice President of Corporate Affairs is responsible for overseeing these activities, however, in order to actively review the Company's policies, participation, and performance in terms of political contributions, public policy support, and trade association membership, the Coca-Cola Company has appointed a Public Affairs Officer and Diversified Audit Committee of the Board of Directors who plays a vital role in managing the various risks facing the company (The Coca-Cola Company Corporate Website, 2017). The company must reduce its probability by avoiding the risk, it is the best response strategy to completely eliminate the risk. Their division's risk committee is made up of a cross-functional management team, so the geographic management team must meet regularly every year to identify, assess, prioritize and divide company-specific risks (power, 2007). For the development of the regulatory compliance risk rate, companies need to have sufficient information on the nature of the problem as this helps to systematically identify outcomes related to policy objectives (OECD, 2000). Developing and implementing ethical anti-fraud policies based on the COSO (Whistle Blower) framework guidelines throughout the organization helps to respond to the risk as early as possible (CIMA,2009). As a result, the Coca-Cola Company must develop its own data collection mechanisms while maintaining constant dialogue with both the company and external regulators. Furthermore, this information must be managed appropriately along with detailed audit trails and accurate reporting. Furthermore, rigorous training for employees regarding operational efficiency, code of conduct and workplace safety would create awareness among them of the company's ethical culture, values ​​and principles, so this understanding will help in alerting all employees regarding the consequences of risks and the importance of mitigating them (Volkov, M., 2014) Keep in mind: this is just one example. Get.