SOURCE: Source Intelligence®DESCRIPTION:
Intuitively, companies often are on a growth plan to exceed their expectations for the year. This often comes when ant sized organization/enterprise has a desire to expand into global markets and have a broader reach to its potential consumers. Larger organizations, when expanding into bigger markets, explore and research the opportunity. They assess the risk and are sure that the probability of success is high and the risk is low. This is possible as the resources from much larger organizations allow them to do this. Which brings us to small to medium sized enterprises (SME) that have the desire and drive to expand into larger markets but lack the resources to make sure they comply with legislation that allows them to do so.
Historically, SME have expanded into global markets but as they do they open themselves into a higher level of risk. Just as larger companies expand into other countries in order to grow their global market presence, SME are following in pursuit. Of course there is disconnect here and that is the lack of resources on group has versus the abundance of resources the other has.
Manpower is typically the main resource when it comes to lowering your corruption risk. Larger organizations have the internal structures in place to be able to monitor their supply chain and mitigate that risk. As smaller organizations begin to compete and move into global markets, they are limited by their manpower. Now that technology has created new ways of helping smaller companies deal with and handle compliance requirements, SME’s are finding ways to lower their risk while having the opportunity to expand into more markets. Read more about it in our latest white paper release, Small To Medium Sized Companies: Complying With Emerging Regulations and Expanding Into Global Markets.
KEYWORDS: Reports, Business & Trade, FCPA, FCPA Blogs, anti bribery, anti corruption, Anti Corruption Blogs, Anti Corruption Compliance, anti corruption guidelines, anti slavery, anti trafficking, U.K. Bribery Act, UK Bribery Act, Source Intelligence