Crisis Establishment and Management Practices
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If you want to go fast walk alone but if you want to go far walk with others. This saying is true but along with it comes a lot of risks. Every stakeholder comes with their share of baggage and if not handled properly , it can result into halting of operations especially in an organizational kind of setting. This prompts the need to undertake due diligence practices. They contribute to a large extent in short listing third party candidates that are suitable to work with. This processes are important in efforts to mitigate risks. Find out for further details right here http://www.unige.ch/formcont/crimeorganise-site/programme/cv/nicolasgiannakopoulos/.
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There should be efforts from this stakeholders to adhere to the statues put in place with the relevant authorities. This will prevent any issues with the law that may give an upper hand to competitors .The need to ascertain that the people that you want to work with by way of investing or partnership are compliant is a major point of consideration. This way you can chart a financial, strategic and reputational course by which you expect this organizations to run with. Take a look at this link https://ch.linkedin.com/in/nicolas-giannakopoulos-7a820018 for more information.
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It's important to test for compliance. It may involve checking out the organizations political connections or details of the shareholders. If they are from other countries your best bet would be to establish that they are in sync with the rules stipulated in their country. Any affiliations with parties that are linked with crime related activities such as drug smuggling may deal a blow with your companies operations. If the partner is an individual, checking on their source of wealth, their political affiliations and their operations could easily reveal information that could save you company face.
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Being able to understand how situations could raise issues is key. Some political connection may indicate instances of corruption which may affect the company. You may find it better to deal with intermediaries or do away with them altogether depending on the situation. Some restrictions imposed may make it very difficult for the company to progress. This findings can prompt brainstorming practices with efforts being made to weigh the benefits alongside risks. If the benefits outweigh the risks then the business could carry on and work with the third parties .
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Documenting everything about the operations of the third parties that will be one way or another involved in an organization is recommended. They will provide a clear evidence of innocence in case the party lands into trouble. It is advised that the company put in measures to ensure that third parties continue to adhere with the principles. They are in this respect enabled to deal with any misgivings that may arise in their cause of operations before they blow out of proportion.