Corruption is an area with many grey zones and abstract legislative frameworks and both management teams and employees often find the subject difficult to navigate. Unethical behaviour occurs in all industries, and regardless of whether unethical behaviour is intentional or due to ignorance, corruption has severe consequences, both for the individual, the company and the competitive market.
The risk of corruption for businesses vary based on several factors and companies need to understand what corruption might look like in their operations and industry. To ensure successful risk management companies must take a pro-active approach to anti-corruption and work towards an ethical corporate culture to reduce the risk of unethical behaviour. For example, companies should communicate zero-tolerance, build capacity and provide practical tools and guidelines to make it easy for employees to do the right thing in every-day decisions.