Safeguarding your company's assets begins with knowing the people and organizations you are dealing with.
Standardized checks on recruits and business partners can protect the corporation's interests and the results are not necessarily negative. In many cases, checks put subjects in a positive light, giving a company and its executive greater confidence.
Because it is so lucrative, purchasing fraud is one of the most common types of fraud in China. Collusion by local authorities and clever 'front office' operations can mask real conditions. Auditing and profiling of local suppliers, vendors or contractors is an absolute necessity to give foreign-funded enterprises the comfort of knowing exactly with whom they are dealing.
Your reputation is your business. However, several highly publicized labor abuse cases have seriously damaged the reputation and credibility of well-known foreign-funded enterprises in China.
Foresight and sustained monitoring are needed to avoid or mitigate the problems that can bring a business to its knees. Even the best-laid plans need a well-trained crisis management team to be implemented effectively. Maintaining open communications with key individuals and organizations, such as law-enforcement officers and business partners, serves as both an early warning system and a crucial support base when things go wrong.
