Business Proposal
The success of any depends on factors such as capital, assets and labor. All the resources are essential for the achievement of a company’s goal. There has to be effective coordination of the elements, as each has its contribution. However, the factors do face particular challenges such as fraud and theft. The theft could be of company property, intelligence and money. Most of the time, you would find that employees are the ones performing the act of stealing.
The presence of such issues tends to do more harm than good. On a minor side of the issue such as theft of intelligence, the consequence is a reduction in profits and loss of competitive advantage in the market. The other scenario is when the theft or fraud is so huge that it goes public. It causes not just minor losses but a significant level of it that could lead to the bankruptcy of the business and a tarnished image (Kennedy 10).
The Department of Commerce did a research on various companies. The study showed that from the overall number of employees in any firm, 75% would steal and half of that percentage will steal repeatedly. It also concluded that from the overall crimes done in the workplace, more that 70% go unnoticed.
The problem puts the survival of the company at stake. Therefore, to ensure its continuous presence in the market, the company deploys extensive security measures to ensure thefts and fraud never happen. The security techniques are such as constant employee monitoring, proper evaluation of the staff and their profile, accurate finance analysis of the company expenditure by outsourcing accounting experts, keep track of inventory using internal controls and ensure that employees uphold the organization’s culture. The techniques are beneficial as they will prevent or reduce fraud and theft among employees (Kennedy 19).
Work Cited
Kennedy, Kristin. An Analysis of Fraud: Causes, Prevention, and Notable Cases. University of Hampshire, 2012.
