An affair with gov't

In today's complex and interconnected business landscape, it has become imperative for organizations to develop and implement a well-thought-out strategic stakeholder management strategy-engaging with a variety of stakeholders to maintain a strong reputation and ensure long-term success.

- RON JABAL

Thus, we often hear international and local organizations talk about their effort to preserve and enhance an organization's public image by implementing government relations, regulatory affairs and public affairs initiatives. These initiatives, while distinct, play complementary roles in helping firms navigate the complex, sometimes tumultuous regulatory environment and manage their relationships with key government and public stakeholders. This is especially true in countries and economies such as the Philippines, where the regulatory framework is in constant flux and where political climates are, unfortunately, unpredictable.

To start, let us begin with some definitions and parameters.

Government relations (GR) involve the process by which companies engage with government entities to influence public policy, legislation and regulations.

While others frown upon the term "lobbying," government relations-sometimes shortened to "gov rel"-may include lobbying activities, building relationships with policymakers and participating in public hearings and consultations. The primary objective of such initiatives is to shape laws and regulations in ways that benefit organizations while, ideally, aligning with societal or public interests.

Regulatory affairs, on the other hand, focus specifically on ensuring that an organization's operations comply with all relevant laws, regulations and standards. Regulatory affairs professionals are employed by entities to help the organizations they represent stay up to date with regulations, facilitate compliance reporting and manage relationships with regulatory bodies and government units that oversee their businesses. Truthfully, a strong regulatory affairs function in all organizations ensures that businesses can operate legally and avoid penalties while also maintaining trust with consumers and the public.