2. The control of corporate misconduct
has become one of the most significant
challenges of our society.
3. The term corporate misconduct or
misgovernance refers to frauds
committed by corporate entities to
willfully erode shareholder value.
4. The corporate misconduct stretches
beyond malpractice in accounting,
reporting, operations and misconduct.
5. Such improper corporate behavior is the
product of (a) A culture of corporate
greed and (b) opportunism and
rationalism.
6. Important
In the advanced capitalist societies, there
prevails a culture of competition which spurs and
motivates rule breaking.
7. Corruption Prevention Strategies
To tackle the menace of corruption in any
organization, most of the anti-corruption
agencies have recommended the adoption of
corruption prevention strategies.
8. I. Establish guidelines
The company must set up a code of conduct that
outlines company expectations for employee
behavior. Identify common missteps and how to avoid
them while unambiguously relating the consequences
of ethical failings.
9. II. Promote training and knowledge
Don't just offer code of conduct or ethics training to
new hires. Routinely provide refresher courses to your
existing staff. Bring in guest speakers to help
employees build problem-solving skills so that they
can react appropriately to workplace misconduct.
10. III. Provide tools
Consider implementing a reporting system that allows
your employees to disclose conduct violations
anonymously, and identify procedures for staff to
request private meetings with supervisors responsible
for ethics oversight.
11. IV. Employ data monitoring
Establish management review boards to investigate
possible violations to the code of conduct. Set up
reporting hotlines or email accounts that are capable
of capturing relevant details including corresponding
documentation or the names of potential witnesses.
12. V. Foster Ethical Behavior
When evaluating candidates during the hiring
process, you should consider their values and whether
they fit into the company's vision. Distribute
responsibilities across employees and departments,
creating a system of checks and balances that reduce
the risk of unethical behavior.
13.
14. LRCL – Business Services Consulting
Roberto Lico – licoreis@licoreis.com.br
15. LRCL – Business Services Consulting
Information – licoreis@licoreis.com.br
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