Being an Ethical Business in a Corrupt Environment
Velamuri, SR; Harvey, WS; Venkataraman, S
Date: 23 March 2017
Article
Journal
Harvard Business Review
Publisher
Harvard Business Publishing
Abstract
In environments with widespread corruption, most business leaders hesitate to take a firm stand against corruption. However, research conducted in Egypt, Zimbabwe, and India shows that organizations should view building a strong ethical reputation in such environments as an opportunity to differentiate themselves. To do this, companies ...
In environments with widespread corruption, most business leaders hesitate to take a firm stand against corruption. However, research conducted in Egypt, Zimbabwe, and India shows that organizations should view building a strong ethical reputation in such environments as an opportunity to differentiate themselves. To do this, companies can follow four steps. First, frame their ethical behavior in a way that resonates with as wide a network of stakeholders as possible. Second, understand that there are gradations of corruption. Third, acquire a fine-grained understanding of their stakeholders. Fourth, strategically build partnerships with high-status individuals and organizations, a tactic referred to as “reputation borrowing.”
Management
Faculty of Environment, Science and Economy
Item views 0
Full item downloads 0