Economic security

Economic activity implies developing of tight business cooperation, information exchange, money transfer, product supply and service rendering. Enterprise’s economic security depends on efficient risk mitigation at every step of this process.

Duties on its provision lie with an enterprise’s economic security department. Its activity is complex. Well-coordinated and efficient work of such department determines welfare and prosperity of any business.

Prevention from data leak, timely check of received invoices before funds transfer, of business partners before concluding a big deal let mitigate risks, insure against bankruptcy and provide with successful activity conduction. That is why, enterprise’s economic security maintenance is one the most important issues.

Experts define the “enterprise’s economic security” term as followings: “Enterprise’s economic security is a process of using company’s resources for its activity optimization for the purpose of prevention from possible damages, risks mitigation and provision with stable business operation”. This mission is not simple, as threats lie in wait for any company from the moment of its establishing.

Threats to enterprise’s economic security

There are pretty much situations when you may waste money in business. It is specific for market relations. The mission for enterprise’s economic security department is company protection from any threats for the purpose of provision with optimal conditions for commercial interest realization and business development as planned before.

There are a lot of destabilizing factors that may lead to serious financial losses. They may influence separately or make up a complex what results in synergy and their negative influence is increasing.

Every business has its own complex of destabilizing factors, but there are definite elements typical for activity of any company. They are usually divided into external and internal.

External threats to economic activity

These factors may disrupt company’s activity seriously:

• business intelligence;

• failure of business partners;

• intrigues of business rivals for the purpose of market capture;

• illegal activity of the organized crime;

• fraud of legal and physical entities;

• selling of information and company’s secrets by ex-employees;

• various offences on the part of government and law enforcement officials.

It is difficult to develop and improve business that is constantly exposed to influence of destabilizing factors.

Internal threats to economic activity

Internal threats may cause equal damage as external ones. There are even more internal ones as in most cases incumbent employees are behind them. Having an access to confidential information, negligent employees may commit unlawful acts out of ignorance or malice, what has negative consequences.

A complex of internal threats that makes economic security suffer includes the following:

• disruption of company’s business image;

• illegal acts of the staff leading to financial loss;

• lack of action on the part of corporate executives and workers what hinders from realization of the proposed plan;

• leak of confidential information, both theft and unpremeditated transfer to third parties;

• unqualified activity of the staff leading to loss of important contracts and cancel of mutually beneficial partnerships;

• various conflicts with representatives of business-environment, criminal world, government and law enforcement officials;

• repeated safety breaches resulted in injuries or even death of employees;

• low-skilled, low-experienced staff, including the point of threat to economic security.

The more factors from the above mentioned lists there are in everyday activity of an enterprise, the less chances there are for commercial success of business. That is why it is not worth saving on material and technical resources and finance allocation that enterprise’s economic security has need of.

Economic security provision

Having analyzed primary threats and their harmful consequences, we can make a logical conclusion – economic activity optimization is possible by a systematic and continuous activity only focused on its protection. Its efficiency depends on the integrated mechanism and system-based approach.

It is necessary to improve management, maintain mode on site, and conduct a large-scale offensive and propaganda activity. Each of these arrangements lets forestall not one, but several threats. For their systematization it is very convenient to divide this sphere into separate sectors:

• financial. Risks related to deals, funds transfer.

• intellectual and labor. Low-skilled, careless staff. Hiring of persons forwarding information to business rivals, and so on.

• technical and process-oriented. Insufficient security of premises, buildings, facilities, a vehicle fleet and another property of an enterprise. Poorly organized work safety, leading to economic losses.

• political and legal. Possible conflicts of enterprise’s activity with legislation. Business hampering on the part of corrupted government officials.

• informational. Loss of confidential information, results of unique developments and so forth.

• ecological. Prevention of different emergency situations.

• power-oriented. Illegal acts on the part of organized crime. Conflicts with law enforcement bodies.

Financial risks countermeasures

Enterprise’s economic security requires constant data collection on the market condition, business rivals presence, analysis of their activity, and also situation development forecasting with account of primary risks.

Any legal and physical entities that you are going to conclude contracts with, develop partnership or cooperation with are exposed to thorough check for the purpose of detection of fraud facts, reference details mismatch, problematic credits and deals in the past.

When detecting facts discrediting enterprise’s image the measures on smoothing of caused loss and preventing from similar cases in the future are taken.

Arrangements:

1. control and constant improving of enterprise’s economic security department;

2. threats detection efficiency enhancing that prevent from entering into more beneficial market segment;

3. when finding information on the websites, on social media – advancing requirements for accounts lock-out, unwelcome data deletion;

4. creation of favorable image among clients and partners;

5. preparation of requirements for material and moral damage compensation.

Settlement of intellectual and labor problems

In order to prevent and mitigate consequences of lack of action, illegal or unpremeditated acts on the part of ex- and incumbent employees, the activity of enterprise’s economic security department starts already at the stage of consideration of applicants’ forms for vacant positions.

Arrangements:

• unreliable applicants attrition;

• prevention from negative activity;

• social-psychological, propagandistic, preventive work;

• personnel training and skill development.

Maintenance of technical and process security

Arrangements of internal security imply active planning of the following:

• fire-fighting measures;

• access control arrangements;

• material values protection;

• staff schedule with account of business specific nature;

• efficient telephone communication, computer networks;

• video surveillance system for data collection, audit and analysis;

• control over occupational health and safety compliance, analysis of every emergency situation that resulted in injury or death of an employee.

Prevention from risks related to political and legal sphere

Arrangements:

• control of the current legislation;

• settlement of disputes with government officials;

• analysis of reasons for crisis situations that took place in the past.

Protection of information and confidential data

A legal right of an enterprise is protection of its commercial interests. It is impossible to reach it without data confidentiality provision, complete immunity of reporting documentation, developments results, know-how, commercial secret and other intellectual property.

Arrangements:

• protection from technical penetration;

• opposition to business intelligence;

• intellectual property safety provision;

• computer security development, networks administration.

Ecological security

Prevention from emergency situations on site what may lead to serious economic losses.

Arrangements:

• maintenance of radiation-chemical protection;

• control of ecological security standards observance..

Power-oriented security of an enterprise

It implies protection of enterprise’s interests from violence and illegal acts on the part of criminal world, singular infringers.

Arrangements:

• elaboration of efficient schemes for response by unauthorized intervention, illegal acts;

• escort of cargo-passenger transportation;

• optimization of personnel physical security level;

• organization of security by business meetings, negotiations, mass cultural events.

Such an activity gives an opportunity to create an efficient system for provision of enterprise’s economic security, what lets avoid unjustified economic losses and always reach intended objectives.

Analysis of enterprise’s economic security

Missions set for enterprise’s security department can hardly be considered simple. Any way to optimize the activity being conducted should not be left out. It is common knowledge for creators of birank.com service.

Our technological capabilities allow to keep enterprise’s economic security at high level. They are expansive and attractive for enterprises of any incorporation form and business nature. We offer a few ways for checking enterprise’s economic security indicators, that let quickly detect vulnerability in the enterprise’s economic security department, and also exclude unreliable clients and partners.

Advantages of birank.com service using

Work with the service is simple and does not require special knowledge or much time. It is possible to obtain instructive and comprehensive information on the point you are interested in during several minutes. It will be always appropriate, helping business develop in full swing.

The database of the service contains information on many companies, including data on bankruptcy, debt, arbitration, government contracts presence, reports from the EGRIP and EGRUL. It is very simple to find all the things needed. Economic security is being checked by the following:

1. company name;

2. its INN and address;

3. director’s name.

Search result in the form of company card is provided almost immediately. It is possible to review it with no outside help, or just trust the service representatives to draw a report on the point of your interest. You may fill an order on the official website of the resource. You are welcome, would appreciate serving you!