What should an action plan for compliance focus on?

An action plan for compliance should focus on addressing item gaps and updating policies because compliance involves adhering to regulations, standards, and internal policies that govern operations. By identifying any gaps in current compliance measures or understanding where there may be deficiencies in policy implementation, an organization can take proactive steps to ensure that it meets legal requirements, maintains ethical standards, and safeguards its reputation.

Updating policies is essential for reflecting any changes in regulations or industry standards, ensuring that all employees have clear guidelines to follow. This alignment not only minimizes legal risks but also enhances operational efficiency and consistency.

The other options, while important for business growth and development, do not directly align with compliance objectives. Increasing market share, reducing employee turnover, and expanding product features are more strategic goals that focus on competitiveness and operational effectiveness rather than the foundational need to comply with rules and regulations. Hence, they do not address the core need for compliance-focused action planning.