The inset box on page 12 provides a good overview of the basic steps needed in developing an ethics program. Consulting firms, such as PricewaterhouseCoopers LLP, have cultivated an expertise in assisting multinationals to develop ethics programs. It is not always possible for a firm to reconcile ethics and profits. Respecting ethical values can provide a certain comparative advantage in the long run, but in the short run companies often find that their less conscientious competitors have taken over markets with the complicity of corrupt officials who are gaining from these illegal practices. A common response to this dilemma is to say that a firm should either impose its ethical standard or exit the market.
Some firms appear to be doing just that.
Yet experiences presented at the Washington Conference on Corruption suggest a third avenue. As de Michele suggested, members of the business community need to join forces with other stakeholders who also suffer from corruption in order to push for more systemic change. This situation is typical during a process of transition and adjustment between two systems with differing international standards. Even with these difficulties, some multinationals are taking the lead. They are complying with the OECD Convention or similar international tools not only in the letter but also in the spirit, and they are involving their subsidiaries and partners in the adoption of these new ethical business practices.