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SEVERAL PRIVATE sector groups have stepped up efforts to help the government stamp out corruption this time attempting to lay down reward and penalty systems that directly affect a firm’s costs and market access.
By adding a financial consequence to ethical issues proponents hope executives long adept at making business decisions will be also prodded to make the moral choice.
One such program the so called Integrity Initiative of the European Chamber of Commerce of the Philippines ECCP and Makati Business Club MBC aims to eventually set up a certification system that will prevent erring firms from bidding for government and private sector contracts.
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Source: Business World, Special Feature, July 25, 2011
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