The Vicious Circle of Corruption in the Human Side of the Enterprise

The vicious circle of corruption constitutes a bane in the business world. Corruption is a canker that must be eroded to create new incentives for innovative management system and improved productivity in the local and global economies. The dwindling economy many developing nations are facing today (Nigeria inclusive) has raised serious concern. This conference paper adopts historical and descriptive research methods. Many corrupt firms suffer morale decadence and counterproductive work behaviours which culminated in productivity downturn. Corruption had permeated many segments of the society, ravaged the corporate scene of nations and left many firms as travail of woes for investors. The code of morals and leadership ethnics had suffered for years. In Nigeria, illicit acts and counterproductive work behaviours have characterized many firms in recent times. Budgets and financial records do not only lack the attributes of truth and fairness but suffer credibility loss and unreliability in the business population for years. Corruption is cankerous and designated authorities, institutions and agencies (nationally and internationally) have made tremendous efforts to fight and erode this dreadful canker from the business environment. Yet, not much is achieved; rather much is required.