May
01
This year, we've seen Siemens being investigated for graft and corruption and Chiquita Brands getting fined $25 million slinging cash to paramilitaries in Colombia.
And we're only four months into 2007.
How does a business steer an ethical course when expanding overseas? It's a question raised here by WP Carey professor Marianne Jennings.
She points to some of the warning signs, like fear and silence, pressure to maintain numbers, weak boards and a culture of conflict. The only way around the problem, she says, is to set very clear policies. Companies must also realize that when they enter a new country, their reputation starts at zero.
But what are the specific steps? I examine that issue when I discuss ways of avoiding integrity land mines.
This is an awesome article. I work for a multi-national company who is a service provider to some of the companies you name. They are top 100 clients to us…and are a several billion dollar company. These factors seriously impact our internal quality and our values programs. Values are HUGE where I work.
Thanks for this post.
Eric
Ethics and integrity have taken a holiday for the past few years while big business takes advantage of the political leverage it held. Hopefully better days are ahead as the corrupt regimes are gradually ended.