Handling of employee fraud.

[imthegreat]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

And this is an extremely difficult topic that can be discussed a lot, first of all, it is better to conduct any business without friends and family initially, to divorce by hiring or your wife as a boss, because I think this is the only relative who, like you, will be interested in the result. If, for example, you hire a brother or friend, they can mess around, or suddenly demand a vacation, setting up your business with such actions. And if you don't let them go, they will be offended and the family connection will interfere with legally correct actions in such a case.

Perhaps that's true, but despite the dangers of starting a business with friends, I've seen a case where two friends started a business and operated it well and honestly. But this is an isolated case because they had been friends from a very early age—since kindergarten. They were friends only with each other, and perhaps it was a strong bond. But things didn't work out for them because they later learned about crypto from me, and they closed their business, devoting themselves entirely to crypto and achieving success in it. But in the short time they had the business, they were honest with each other and ran it well.

[summonerrk]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

And this is an extremely difficult topic that can be discussed a lot, first of all, it is better to conduct any business without friends and family initially, to divorce by hiring or your wife as a boss, because I think this is the only relative who, like you, will be interested in the result. If, for example, you hire a brother or friend, they can mess around, or suddenly demand a vacation, setting up your business with such actions. And if you don't let them go, they will be offended and the family connection will interfere with legally correct actions in such a case.

I think it's really better not to have business with friends, because wives are a very personal need for everyone. If one friend says that he worked harder than the other and that he should get more money, then a quarrel is possible. And by the way, about my wife, I will say that in the country where I live, it was a woman and her husband who organized the most successful business in the field of marketing, but now they are divorced and when the divorce process was underway, they sued for business and money. Apparently, with age, many successful men or women get the idea in their head that it's time to find younger partners to continue their lives. This idea is understandable. That is why lottery winners often immediately get divorced in order to start their "better life."

[liasbaa]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

Internal corruption is more responsible for the loss of a business organization. Apart from this, irregularities in the financial sector are another reason. The owners need to be skilled to run an organization. They need to be knowledgeable in technical matters as well as implement the financial distribution system in a planned manner. It is important to appoint several skilled administrator to maintain internal discipline because without skilled management, running an organization is not sustainable.

A manufacturing organization may be affected by the issue of cancellation of purchase orders because if the raw materials are imported as per the purchase order placed by the buyer organization and the products cannot be exported on time, the organization suffers financial losses and at some point there is a risk of closure.

[Pablo-wood]

Perhaps that's true, but despite the dangers of starting a business with friends, I've seen a case where two friends started a business and operated it well and honestly. But this is an isolated case because they had been friends from a very early age—since kindergarten. They were friends only with each other, and perhaps it was a strong bond. But things didn't work out for them because they later learned about crypto from me, and they closed their business, devoting themselves entirely to crypto and achieving success in it. But in the short time they had the business, they were honest with each other and ran it well.

I think the business thrived because the understood the boundary between business and friendship. There are still childhood friends who can't partner together to do a business, most of them are better together as friends but once monetary involvements gets in-between their friendship might bet ruined.

Just like you stated in the last line. Honesty between friendship is all it takes to pull any kind of wealth together. They were devoted and in their course of partnering together while the shared their ideas between themselves they stayed honest to themselves. Partnership thrives best where honesty is key.

[Somegory]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

You are very correct. Your business may not fail as a result of competitors, but as a result of criminal activities of employees working in your company. However, it is important to treat your employees as partners, give them their entitlement, salary and allowances should be given as at when do, and also ensure you pay them well to avoid employees from stealing, and more also, ensure their is regular auditing of every department in your company to know if things are going smoothly or not.
If you discover any act of misbehaviour from any employee, do not hesitate to punish the person accordingly, by so doing other employees will learn their lessons and remain cautious while working with your company. Many factors can make an employee misbehave, as the CEO of the company, find out those things that make employees to misbehave and correct them, by so doing employees will work productively and in accordance with your directives and company policies.

In a developing country it's highly likely that your business will fall due to criminal activities more than result of competitors, from the little ones that I have witnessed, Many businesses have failed due to result of this.

There is also this virus that's affecting people in my country, they like to copy others business idea, they lack the potential of self thinking and starting up a business that's not common on their own, they prefer doing what others are doing and this have rendered many useless.

But most of the time it's always someone greedy on the inside stealing the company's money, I also happen to know one ot two people that have build houses and have cars out of working under a company and milking the hell out of the company.

[Bushdark]

Sometimes the biggest challenge that leads to business shutdown isn't from external competitions around the business environment but from within the workforce.

A business person who owns a company  must ensure to have internal control and structure in your organisation. With a functional internal control, employees display best practices, discipline and solemnity with how they dispose their jobs, resume and attend to work on time etc. Internal financial theft and misconduct are detected asap, then reducing the risk of collapse of the organisation from internally which are related with employee fraud.

And this is an extremely difficult topic that can be discussed a lot, first of all, it is better to conduct any business without friends and family initially, to divorce by hiring or your wife as a boss, because I think this is the only relative who, like you, will be interested in the result. If, for example, you hire a brother or friend, they can mess around, or suddenly demand a vacation, setting up your business with such actions. And if you don't let them go, they will be offended and the family connection will interfere with legally correct actions in such a case.

Perhaps that's true, but despite the dangers of starting a business with friends, I've seen a case where two friends started a business and operated it well and honestly. But this is an isolated case because they had been friends from a very early age—since kindergarten. They were friends only with each other, and perhaps it was a strong bond. But things didn't work out for them because they later learned about crypto from me, and they closed their business, devoting themselves entirely to crypto and achieving success in it. But in the short time they had the business, they were honest with each other and ran it well.

Starting a business with friends should not be a problem when there is a well written agreement in place.
We are not in the olding days where people will be scared to reach an agreement that is relating to business. When doing a business with friends or family, there should be a well started agreement in place that will be lawfully binded so that when one party breach the agreement, it will be obvious and the law can take it place.

Doing business is the only way we can get financial freedom not by working for somebody that can sack you at any point in time. In the case of a fraudulent employee, you can use the binding agreement to take whosoever tries to scam you when working for you.