Published by:
Harvard Business Publishing
Length: 11 pages
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Abstract
In order to maintain commitment to ethical standards, companies must foster professional pride and honest business practices in their employees. Examination of the paper industry price-fixing conspiracy in 1976 indicates that a crowded and mature market, declining demand, and absence of product differentiation can create a ripe climate for price collusion. To avoid this, top managers must recognize these dangerous conditions, clearly communicate their intentions, and by their conduct set a good example for their subordinates.
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Abstract
In order to maintain commitment to ethical standards, companies must foster professional pride and honest business practices in their employees. Examination of the paper industry price-fixing conspiracy in 1976 indicates that a crowded and mature market, declining demand, and absence of product differentiation can create a ripe climate for price collusion. To avoid this, top managers must recognize these dangerous conditions, clearly communicate their intentions, and by their conduct set a good example for their subordinates.