This blog post was originally published by Accountability Lab. Posted on CCTrends with permission.
“Power doesn’t corrupt people, people corrupt power.” – William Gaddis
Corruption, defined as exploitation of entrusted power for private benefit is, unfortunately, prevalent in Pakistan. It can take many forms, including bribery, graft, theft and extortion. In the corporate sector, its presence reduces business credibility when professionals misuse their positions for personal gain. Corruption has not only been identified as one of the most significant constraints to private sector development but is also becoming a leading problem for people all around the world.
Engagement in corruption depends heavily on the costs and risks involved, and these vary from region to region. Corruption in business is an economic issue, and it will linger as long as the gains from unethical behavior surpass the anticipated losses that are, in turn, closely linked to the probability of being caught. Read More...