How to avoid corruption in business
Posted: Mon Dec 09, 2024 7:07 am
The fight against corporate corruption is an important issue in the field of corporate responsibility.
In addition to ethical issues, there are also monetary costs, as corrupt practices endanger the functioning of the market by interfering with free competition.
We also know the enormous social costs for countries' economies, in addition to the reputational costs.
Its effects also affect the scope of the 2030 Agenda Goals, through the target in SDG 16 that seeks to “substantially reduce corruption and bribery in all its forms.” Its ebay database impact on sustainable development is such that the United Nations Global Compact decided in 2010 to include a tenth Principle for the fight against corruption: “Businesses should work against corruption in all its forms, including extortion and bribery.”
How to avoid corruption in companies?
More and more companies are trying to establish protocols and control mechanisms to prevent their employees from acting corruptly. Many companies create specific internal policies on this subject, with codes of conduct.
But in some cases, companies forget about suppliers. It is also important to have manuals to guide the contracting of services and products.
Generally, small and medium-sized enterprises have fewer control mechanisms.
Mechanisms for the fight against corruption
In addition to promoting and having internal policies, some mechanisms can also help to have more ethical practices in the company. Among these, transparent information.
Filing reports and statements with information on profits and tax payments helps to generate sustainability within the business free of corrupt conduct.
In addition to ethical issues, there are also monetary costs, as corrupt practices endanger the functioning of the market by interfering with free competition.
We also know the enormous social costs for countries' economies, in addition to the reputational costs.
Its effects also affect the scope of the 2030 Agenda Goals, through the target in SDG 16 that seeks to “substantially reduce corruption and bribery in all its forms.” Its ebay database impact on sustainable development is such that the United Nations Global Compact decided in 2010 to include a tenth Principle for the fight against corruption: “Businesses should work against corruption in all its forms, including extortion and bribery.”
How to avoid corruption in companies?
More and more companies are trying to establish protocols and control mechanisms to prevent their employees from acting corruptly. Many companies create specific internal policies on this subject, with codes of conduct.
But in some cases, companies forget about suppliers. It is also important to have manuals to guide the contracting of services and products.
Generally, small and medium-sized enterprises have fewer control mechanisms.
Mechanisms for the fight against corruption
In addition to promoting and having internal policies, some mechanisms can also help to have more ethical practices in the company. Among these, transparent information.
Filing reports and statements with information on profits and tax payments helps to generate sustainability within the business free of corrupt conduct.