Can ethics cure corporate governance deficiencies?

“In the mid 1970s, I got a promotion and moved to a new division within Raytheon. Part of what I did was new business development which included developing business in Kenya. The second time I showed up in Kenya, I was approached by people who said: ‘We can help you to get the contracts you’re interested in, if you’re able to do something with us’.

I was completely unprepared to be asked for a bribe….” (From a comment at a Sears public Lecture on Ethics, Bentley College of Business Ethics, October 2003)