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Date: 2024-10-22 Page is: DBtxt001.php txt00022256
BURGESS (TPB) COMMENTARY
ACCOUNTABILITY
Widely talked about, but rarely done!
Burgess (TPB) COMMENTARY
In my experience, the corporate world does not manage because something is right rather than being wrong, or legal rather than being illegal, but rather in a way that makes increased profit more likely than not. Illegal, immoral and bad behavior is not a problem as long as the increase in income net of the cost adds to profit. Paying fines is simply a cost of doing business.
Often, the most profitable behavior is illegal ... but the cost of settling the alleged bad behavior is often quite small compared to the profit increment realized by the bad behavior. Corruption is very profitable. The international oil industry is very profitable ... and their international behavior leaves a lot to be desired.
Corporate managers have a single goal ... profit optimization ... and anything goes in order to achieve that goal.
Peter Burgess



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