Corruption, Morale Decadence and Productivity Downturn in the Business World: A Troubled Nation Mirrored in 21st Century Developing Economies

Abstract

The business world had suffered a lot of decadence in its corporate life notably in the 21^st Century. Reportedly, corruption, morale decadence and productivity downturn are some proven challenges inimical to the growth of firms. The situation tends to be more pervasive in consideration of the dwindling economy of many developing nations. Corruption and its dreadful menace have constituted major issues of discourse in the literature of firms and the library of nations. Corruption hurts firms. Poor performing firms relative to corruption suffer morale decadence. Morale decadence and its associated counterproductive work behaviours culminate in productivity downturn. It had permeated many segments of the society, ravaged the corporate scene and left many nations in the travail of financial or economic woes. The principles of morals and leadership ethics have suffered for years. Work morale has deteriorated and productivity has fallen in firms. Illicit acts are noticeable in business institutions. Counter-productive and anti-social work behaviours have characterized a lot of firms in recent times. Budgets and financial records do not only lack the attributes of truth and fairness, but suffer credibility loss and unreliability for years. Institutions and designated authorities (nationally and internationally) have made tremendous effort to fight and exterminate this monstrous canker called corruption from the business environment. Yet, not much is achieved, rather much is required. Productivity downturn has not only caused many firms to collapse, but it has also caused economic recession in nations. This paper attempts to proffer useful inputs in the determination to fight corruption in the business world, recover trust and confidence amongst the members of business communities, heighten employees’ work morale and engender productivity upturn in business institutions.