Shock
From the moment that you suspect your company, colleagues, business partners or clients are potentially facing a bribery or corruption crisis, the clock is ticking. Complying with the law and co-operating with an investigation is one stark and obvious consideration. But how will the business, organisation, shareholders, and customers be protected from the potentially devastating consequences? What can you do and how will you manage the situation? Most business leaders and investors have not faced, nor expected to face, a crisis like this.
Cold reality
One CEO reflected
“When concerns became suspicions my realisation was that I needed to understand who knew what, and when they knew it. In short – who could I trust? I moved, in a instant, from a familiar role leading a business, to an entirely new world – more like being in the plot of a spy story. It was surreal, cold, feeling. I did not realise it then, but that realisation was just the beginning of a series of unexpected events, surprises, and dilemmas. And it was very, very lonely.”
Paralysis
The first steps are the hardest, and decisions taken then set the scene. Some may choose to cover up the problem, and hence perhaps become part of it. Others may be in denial – perhaps not seeing the truth and allowing practices to continue, increasing risks for themselves and the organisation. Others may seek a compromise, to limit damage. Others wrestle with what they believe is a moral dilemma. Most managers do not realise that as soon as their suspicions form, they lose direct control of the situation. They must now act, decisively and overcome paralysis and confusion.
Client References
Protect
A very engaging presentation, which drew the audience into the story very effectively. We received only strongly positive feedback from our clients and collagues who attended, which included in-house investigators and lawyers, and specialist M&A lawyers, who were especially interested in the implications and learnings for conducting due diligence processes.”
Partner, Global Law Firm
Prevent
“As we grew our business internationally, working with an ever wider range of clients and business partners, we engaged Goodhind Bullard to define our requirements to meet ABC laws in the countries in which we operate, and to prepare our ABC policies and controls. Having completed that work we are confident that we are fully compliant with our obligations.”
Managing Partner, UK and US based global design company.
Survive
"When the crisis became apparent and the Board realised the threat to our survival, Goodhind Bullard’s role was a key part of the response to the corruption crisis. Their work covered all aspects of our response, over several years. Goodhind Bullard made a major contribution to the Group’s survival."
CEO, UK High-tech manufacturing company serving global markets
Prevent
"The whole investment team at all levels found the experience sharing workshop about corruption fascinating. The session overran because there were so many questions. The story and content were thought provoking and engaging - and highly relevant for our people and business. One participant said “… at least now I don’t need to see the movie!”.
Managing Director UK Private Equity Partnership
Prevent
"Our London office team took part in the well-structuredand fast-moving interactive workshop session for 20+ colleagues. We found the story of how the bribery crisis evolved fascinating and thought provoking. The challenge of “what would you do now?” stimulated lively debates. The case study included difficult moral and business dilemmas and revealed a new dimension of the responsibilities of management, which more senior executives need to be aware of and prepared for. The presenter has an engaging, energetic style that captures everyone’s interest from the start."
Partner, international board and executive search firm.
Prevent
Our whole team attended the session and were highly engaged with the story of the cases, and how events unfolded. This was of great value as a live example, of the risks and consequences of bribery, the importance of careful and informed due diligence and of how to manage a serious compliance “crisis”. The well-presented participative workshop was compelling and high pace and showed the speaker’s impressive expertise and experience.
Partner, leading western European focussed Private Equity firm.
Prevent
The team loved the Session, and we were full of admiration for how the presenter told the story and the way the situation was managed. There were many questions for the presenter afterwards and we continued informally for over an hour. Later when alone as an executive team we talked for ages about the story, how it must have felt, and how it happened. It made us think about our own culture, and the measures we have in place. While we felt we had protection against the specific risk described in the Session, we realised that we should think more widely about comparable threats. A very worthwhile exercise.
Finance Director, international high-tech instrumentation company.
Author
Chris Potts
Chris has led international businesses for over 20 years at CEO and Board Chair level.
