Clearly, to reach a level of success in a business you must consider various factors to promote the idea of a business. Therefore, you have to obtain a competitive advantage over your competitors as a result of increasing the market share of your entity.
Consequently, a range of variables may contribute to the success of an entity such as:
- Lack of knowledge of the essentials in the working environment, in
particular bad behavior or IT control support
- Lack of management by the directors and the managers
- Non- compliance with laws, regulations and corporate
governance
- Insider trading and other fraudulent actions, including selling
securities, stocks or bonds to increase its profit illegally.
- Non-maintenance of internal control procedures which can lead to
misstatements and misclassifications of the transactions in the
entity. The point of non-internal control in the corporation can
lead to various problems and lead to ineffective management.
To conclude, any entity needs to adapt and plan carefully to succeed in today's dynamic environment, with full control and efficiency during procedures.