If you’re on the brink of closing a sale and the decision-maker stonewalls, what should you do? Lower your price? Add more products or services to the contract? Offer a bribe?
- Bribery is illegal in most countries, carrying potentially severe financial penalties for company executives.
- A bribery conviction can rob you of your export licenses and effectively blacklist you as a supplier to large corporations or governments.
- Getting sanctioned for bribery will taint your reputation and force permanent disclosures of your violations under laws passed to prevent terrorism or money laundering.
- Finally, relying on bribery to generate revenue is financially damaging and can lead to lack of discipline. In other words, companies that rely on bribes to win business can lose their ability to compete the traditional way—by out-performing their competitors.
However, there is one scenario under which “bribery” makes sense: when you commit to delivering superior value to your customers. Why pay cash bribes when you can generate business the old fashioned way—by providing a great product for a fair price!