The media has always fed off of scandals. But, to me, it appears that the media has kicked it up a notch in recent months in terms of exposing unethical or illegal behavior.
It almost seems like every day there is a new outrage over the behavior of a business or political figure. Consider these recent stories:
Illinois governor arrested for trying to sell off Obama Senate seat (December 9, 2008)
Wall Street legend Bernard Madoff arrested over ‘$50 billion Ponzi scheme’ (December 12, 2008)
Tom Daschle withdraws cabinet nomination amidst tax scandal (February 4, 2009)
Police probe Scots IT firm for NHS fraud (February 8, 2009)
Peanut Corp. Owner Urged Shipping Tainted Products (February 11, 2009)
Former Merrill Lynch CEO quits amid bonus scandal (January 22, 2009)
And these are just a few of the many scandals of recent months!
In procurement, there is a lot of opportunity for corruption. Fortunately, the vast majority of people holding procurement positions have strong ethics. However, there is always a “bad apple.”
But those bad apples should take notice. In today’s environment, if you are doing something shady, you will get caught. The media is looking for opportunities to expose business villains. There is no hiding.
If you are a CPO or similar procurement leader, you really need to make sure each and every one of your team members is sufficiently trained in procurement ethics. Next Level Purchasing’s online course “14 Purchasing Best Practices” is a great start. “Expert Purchasing Management” helps procurement leaders implement policies – such as a conflict of interest policy – to keep all dealings above board.
What’s your plan for keeping your company out of the headlines?
To Your Career,
Charles Dominick, SPSM
President & Chief Procurement Officer
Next Level Purchasing, Inc.
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