MGT602 Entrepreneurship Assignment 02

a. What could Tanveer have done to avoid this situation?
Solution:-
First of all, Tanveer should diagnose the actual problem and should sort out accordingly after understanding it. He should hire a specialized/ skill worker how could work and analysis the problems on behalf of Mr. Tanveer. He could monitor the business and should keep proper check and balance for all the operations and transaction of business. If He had sound knowledge of business and duly interactive with the business activities. It is hoped the situation would be different in that situation. He should have proper knowledge, which should be updated or should employed his own agent, how may inform about the business activities on the regularly or has parallel setup for activities alerts.
b. What are his options after the fact?
Solution:-
After disclose of the fact that Mr Partab Singh was diverting company resources for personal use, even taking some of the construction material purchased by the company and using it to build his own house. It is first option for Mr Tanveer to negotiate with Mr Partab Singh for the recovery of losses faced by the business after using it for personal purposes. If the process of negotiation seems to be unfruitful he should use the mediation for this purpose who can force Mr Partab singh to payback the amount used by Mr Partab Singh. Other type of dispute resolution techniques are time consuming and expensive too.