My last post, check out this interesting article and the super catchy picture.
Deny it or not, it still exists globally.
-Bribery is the price that you must pay to enter some of the world’s most difficult markets.
Sunday, May 2, 2010
The corruption eruption: Saying “no” to corruption makes commercial as well as ethical sense
My last post, check out this interesting article and the super catchy picture.
Deny it or not, it still exists globally.
-Bribery is the price that you must pay to enter some of the world’s most difficult markets.
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Another "hidden cost" to corruption that the article leaves out is the factor that public opinion plays in a companies success or failure. Especially given the recent financial crisis, consumers are starting to move away from doing business with firms that are unethical and are convicted of corrupt practices. A $400 million fine might sting these firms, but losing their customer base is probably a lot more detrimental to their long-term health.
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