Is Corporate Corruption A Necessary Evil?
By Matthew Startup, Marketing –
Companies need tools to combat the rampant problems of bribery and corruption.
Corporate corruption has been an ongoing problem for many years. Reportedly, billions of dollars are wasted annually on bribes and other forms of corruption. It’s hard to estimate how many resources are actually being wasted on corruption, because not many people who are involved are willing to talk about it for fear of the law or losing their job.
Many may question if corruption is a necessary evil, a byproduct of doing business in countries where the law is a little looser, and a little foul play is expected to get the big sale. Many accept that bribes will be the cost of doing business.
The Costs of Corruption
Usually when a bribe is paid, the company or employee is desperate, which is not an ideal image to present to the public. The individual they are making the deal with also doesn’t have the best integrity, and is thus likely to try to cut corners, hurting the company’s brand and bottom line.
Even when corrupt companies get the contract they so desire, it is less profitable for them in the long run, as the bribes paid out can reduce the profit margin substantially.
What Is There To Do?
It comes down to the laws of the land and the enforcement thereof. One potential method to subvert such activities would be to conduct ongoing lie detection tests of public officials and employees of corporations.
EyeDetect® technology can identify deception and fraud with 85 percent accuracy. The behavior of human eyes reflects signs of stress and deception that are undetectable by other humans. With the use of this lie detection technology, corrupt officials, employees or professional criminals can be caught based on completely unbiased mathematical data generated from the behavior of their eyes. This means that corporations have the means to root out corruption from their midst and prevent the huge losses in the economy from dishonest dealings.
