Is it time to dump standardized regulations?
- Jul 7, 2015
Imagine taking a paintbrush to the broadside of an old barn: Your goal is probably to cover the expanse uniformly with one color. But the result would likely be a lot different if you didn’t consider the number of boards you might have to replace, holes that need patching or nails that need to be driven back into the wood.
If you started blindly painting away without paying attention to each issue, you’d waste time, money and valuable resources.This same principle can be applied to standardized regulations in today’s economy. In an effort to comply with such uniform regulations, businesses waste valuable resources.
A standardized approach can be more expensive, less effective, and less flexible than other approaches. There are alternatives, though.