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060 AustrAl iAn Business Solutions
International business
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AustrAl iAn Business Solutions 061
The ImportanceOf TransparencyWhen ConductingInternational
Business| By Barry Thomas |
the mpo a ce of e g a pa e a d e h ca e ac o whe co d c g e a o
a b e becomc ea g y op ca a d f o -of-m d. the k of b be y a d co p
o a f dame a co ce fo g ob
b e e , e pec a y w h he h ea of e a o a aw e fo ceme , b e c o
e , c m a co v che co eq e ce f om a ep a o a d f a c a pe pec
ve.
Co p o a d b be y ca happe w h a y o ga a o a d wo d be ky o h k
ha w o happyo . We o y eed o eva a e he c e ve ga o he Ame ca e a o
a e a cha Wa ma de
o ee ha o b e , howeve f e a , comp e e y p o ec ed. Wa ma ha
bee ve ga ed fo po ev o a o o he Fo e g Co p P ac ce Ac (FCPA) ac o
e a o a ma ke c d g Mex co, Ch aa d B az . Acco d g o the new Yo k
t me , Wa Ma had fo d c ed b e ev de ce ha Mex ca b d a yhad pa d b
be effo o b d mo e o e , a v o a o of he co p p ac ce ac , a d ha a
e
ve ga o had bee pp e ed by exec ve a he compa y A ka a headq a e
. the co eq e ce of ch a ve ga o ca o o y be h ge y f a c a y damag
g, w h epo gge g he pe ma ke cha
ha pe us$99 m o do a o he ve ga o , b a o a he he o ga a o e a o
a a e c ome pe cep o , a d owe aff mo a e.
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7/27/2019 Australian Business Solutions: The Importance of
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examp e, we have ee he e o mo mpacE opea ac v y ha had o he dec
oa d way ha b e e a e ma aged ac o
he wo d.
to co e b be y a d co p o , ma ygove me have mp eme ed a -b be
y
eg a o a d yo e po b y
awa e of oca a d e a o a aw befo e yoe o . i A a a fo examp e,
yo eed oefe o he A a a C m a Code a d h
uK he B be y Ac . the Fo e g Co pP ac ce Ac a u ed s a e fede a
aw
ha app e o a y pe o who ha a deg ee of co ec o o Ame ca a d e
gage fo e gco p p ac ce . no adhe g o he Ac ca
e eve e pe a e a we have ece yee w h ra ph la e pay g a
$882,000
pe a y o e o ve a ega o ha v o ahe Fo e g Co p P ac ce Ac by b b
g
gove me off c a A ge a o ob amp ope c om c ea a ce of me cha d
e.
Build A Robust Policy imp eme g a g oba co po a e po cyw e e ha
a ma ke a d b e
akeho de a e a g ed w h compa yp oced e a d a code of co d c . A
obpo cy w doc me he compa y v oa d ze o o e a ce app oach o b be y
a dco p o a d w e e he e o oom fom e p e g how emp oyee , co ac oa
d d b o ho d co d c hem e ve .idea y, a co po a e code of co d c ho
df e f om he e o ma ageme eam o aemp oyee a d c de a fo ewo d f om
hehead of he o ga a o . the doc me ho dexp c y efe o a pa e e ac o
a o p a e ha he b e w coope aw h a y ex e a a d a d ve ga o . thg
oba e of e h c ho d be ea y acce b ea d pda ed eg a y a e a o a
awcha ge a d eq eme a e .
Engage Your Employeesi mpo a o o a me ha adhe g o acode of e h c
ve fo a emp oyee wyo o ga a o . the e o po deve op g
Acco d g o Co p o i e a o a , ag oba ed wo d co p o ca ea y
aveac o bo de . i deed, co p o ca come
ma y fo m a d we a e ee g g obao ga a o mp eme g a eg e o
afeg a d he co po a e ep a o o e ehe b e ope a e e h ca y a d w
h
eg y, ega d e of oca o .
to co e ac b be y a d co p o wheco d c g e a o a b e , he ea e
ome ba c co de a o yo ho dfac o o yo a -b be y a egy a d
ppo g po c e .
Conduct Your ResearchF a d fo emo , mpe a ve o co d c
e ea ch a d backg o d check o he ma keyo a e ook g o e gage o de
fy a y k .Fam a e yo e f w h oca c om a dway of wo k g a d ea abo
he co yb e a d po ca h o y. the e a e o e
oo ava ab e o a e a eg o g obaco p o a k g a d o make compa ow h
o he ma ke . Acco d g o he co p omea eme oo ho ed o he t a pa e cyi
e a o a web e, A a a co o of co p o a ked a 96 pe ce , compa ed
o Ch a co o of co p o wh ch a keda 33 pe ce . th co o of co p
o
a k g ef ec pe cep o o wh ch p b cpowe exe c ed fo p va e ga
.
s ch oo a e ex eme y ef , b o h g mo e he pf ha o he g o d e ac
ve
e ea ch a d ob a g wo d-of-mo hfeedback a d ho e ecomme da o .
Yow eed o ba a ce h e ea ch w h omak g a mp o ba ed o he co yh o c
ep a o fo co e g b be ya d co p o . Ma ke ha a e e ow edfo co p b e
e ac o may faccompe a e fo by e fo c g c e pe a e .
Familiarise Yourself With InternationalLaws And Anti-Corruption
Actsi b e oday, wha happe g e ewhe e
mpac o wha we a e do g A a a. Fo
International business
062 AustrAl iAn Business Solutions
It is imperative to conduct research andbackground checks on the
market you arelooking to engage to identify any risks.
Familiarise yourself with local customs andways of working and
learn about the countrysbusiness and political history.
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AustrAl iAn Business Solutions 063
a po cy o co po a e g de e e eve yemp oyee e gaged a d de a d
hepo e a k of o -comp a ce. A a g
p og am o ppo he po cy w e e haa emp oyee a d akeho de , o ma
ewhe e hey a e oca ed, a e a g ed w h hecompa y ze o o e a ce app
oach o co pb e e ac o . the a g co d be
co po a ed o he a da d emp oyeed c o p oce a d yo may be ef f
om
e gag g a ex e a age cy o co d cac o - he-b e a g each yea a ava
ab e em de . i a o wo hwh e e g
a g co po a ed w h he o ga a o e a comm ca o a egy.
Choose Your Partners Wisely i yo e po b y o co d c backg o d
check o e e ha a compa y emp oyee ,co ac o , d b o a d pp e ,c d
g awye a d obby , a e ep ab e.
i he pf o pe o a y mee yo d b obefo e e gag g hem o he p de fypo
e a e .
Trust Your Instincts A e a o a b e w of e e co eg ea e eve of c
y ha ocao ga a o o mpo a o be ex av g a abo comba g co p o a db be
y. t yo c . no h g wo h
k g yo co po a e a d pe o a ep a o ,a d ve hood, o a way be p
epa ed o wa k away f yo have do b .
i may o d obv o , b mpe a ve obe ge e a d hf . Fo examp e, f
yo
om fo ma o ha peop e co de o bempo a , hey may q e o yo c ed b
y.
the ame app e fo e ac o w h o he
f yo e e ha key fo ma o ha beeom ed, he may be be o wa k
away.
E gage a d e oca e o ce ha a eava ab e o yo . i he pf o peak w h
ke-m ded b e e a d a o eek adv ce f om
oca emba e a d co a e ho d yoeed ppo .
Speak Out A a d v d a b e eve , emp oyee
ho d be e co aged o epo co p oho d hey e co e . Wo k owa d
deve op g a co po a e c e ha ppofeedback h o gh eg a face-
o-face
mee g , compa y co a e a a d a opedoo po cy.
Howeve o e b e a o e ca o combaw de p ead b be y a d co p o . i
ca o ybe ove come f b e e wo k oge he o
ack e he e. B be y a d co p o ca
have a de me a effec o a eg o eco omya d e gag g co p p ac ce a
o c ea ea favo ab e b e e v o me by
e co ag g fa adva age a d a -compe ve p ac ce .
t a pa e c y i e a o a a e ha ab e e v o me f ee of co p o a
owcompa e o compe e fa y, ed ce k a dc ea e a mo e ab e ve me e v o
me .i ha d o o ag ee ha c ea b e ea
good b e .
Barr y Thom as is the Vice President and APAC Man agi ng Dir
ecto r of Cook Aust ral ia.Barry has more than two decades of
int erna tio nal lea der shi p and exp ert ise in the
phar mac euti cal and medi cal dev ice indu str ies and he cur
rent ly spe arhe ads the wor ldsfastest growing region for Cook
Medical. Hiscurrent position sees him working to expand the
opportunities for people in Asia to accessCook Medicals advanced
and minimally
inv asi ve medi cal devi ces.
