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How can companies address issues related to trust and fraud?

Business Dec 10, 2020

How can companies address issues related to trust and fraud?

Expert Solution

Trust issues experienced in most companies can be solved using various ways such as on-time response to problems, body language, and giving employees doubt benefits. On-time response to problems solves trust issues because workers are assured that their employers will solve the issues presented. Body language expresses how someone feels during a conversation. Therefore, maintaining eye conduct creates trust when communicating with workers, and it shows that you are active during a conversation. Further, by giving employees the benefit of the doubt makes workers understand how to detect genuine deals. These create trust because employees see employer's concern of avoiding fake deals within the business premises. In contrast, fraud in companies can be regulated by regularly monitoring financial statements and hiring trustworthy experts. A regular check of financial statements limits high risks of fraud because it makes the managerial board follow up on the organization's daily expenses. By hiring trustworthy experts, fraud is likely to be evaded in business operations because they adhere to the company's rules and regulations.

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