The word “corrupt” sounds harsh, an allusion to an extreme practice that no company identifies with. But corruption is actually much closer than we think. Business corruption involves decision-making disloyalty by an employee or executive who puts his or her own private interests above those of the company. It is a serious problem for any company because, aside from its moral and ethical implications, it jeopardizes the stability and future development of the business and compromises the equilibrium of the world economy.
Can businesses do anything to fight corruption? The document, “La lucha contra la corrupción: una perspectiva empresarial” (“The Fight Against Corruption: A Business Perspective”) by “la Caixa” Chair of Corporate Social Responsibility and Corporate Governance, shows that the private sector is part of the problem and, therefore, has the moral obligation to share responsibility and join forces to battle corruption.
Advice for Fighting Corruption
According to Antonio Argandoña and Ricardo Morel, businesses need to establish an ethical culture and put into practice a solid anti-corruption strategy. In this regard, the world’s top anti-corruption organization, Transparency International, lists the following basic principles for companies:
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