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Opinion

What leads companies down the path of corruption...and how to avoid it

15 October 2018 10:57 AM
Tags:
Steinhoff scandal
corruption at VBS Mutual Bank
Corruption scandals
Values-based leadership lecturer Dr Tim London looks at the ethics and dangers businesses face in the world of profiteering.

Several countries in South Africa and globally have been embroiled in corruption scandals one after the other.

These are companies that were once thought to be reputable and upright.

Companies like VBS, Steinhoff, Fidentia, Enron and KPMG have lost their good reputation after drawing attention to corruption in South Africa.

Dr Tim London, senior lecturer at the UCT School of Business looks at how these companies got themselves in this mess and how these kinds of incidences can be avoided.

Read: 'VBS stolen money bought the most useless things like Ferraris and helicopters'

The reality for most of us is that we think we are underpaid. We get that raise and promotion but it is still not in the billions of rands. So we get an extra R10 000 and we think we will be able to save it but we end up spending it and we want a little bit more.

Dr Tim London, Senior lecturer at the Allan Gray Centre for Values- Based Leadership at the UCT Graduate School

There is something human about this need to always wanting something more, even beyond our needs.

Dr Tim London, Senior lecturer at the Allan Gray Centre for Values- Based Leadership at the UCT Graduate School

We also have businesses that are designed around profit as a sole driver for this and when that becomes the sole focus we start ignoring other warning signs that are flashing before us.

Dr Tim London, Senior lecturer at the Allan Gray Centre for Values- Based Leadership at the UCT Graduate School

One of the discussions that's been there for years is that you can either be good or make money and you have to make a choice in that context.

Dr Tim London, Senior lecturer at the Allan Gray Centre for Values- Based Leadership at the UCT Graduate School

But what we are learning more and more is that if you want to make money long-term you have to be good. The reason you are good is that you state very clearly that here are the values of our business and we are attracting people who are committed to those values.

Dr Tim London, Senior lecturer at the Allan Gray Centre for Values- Based Leadership at the UCT Graduate School

To hear the rest of the conversation with Dr Tim London, listen below:


This article first appeared on CapeTalk : What leads companies down the path of corruption...and how to avoid it


15 October 2018 10:57 AM
Tags:
Steinhoff scandal
corruption at VBS Mutual Bank
Corruption scandals

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