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White Collar Crime And Stealing

Jason Sorensen, Director of Business Strategy at DKS Systems, invited me to attend the Carlson School of Management’s First Tuesday Luncheon Series. The speaker was Dr. Karen Schnatterly of the Carlson School of Management. Her discussion was titled "Corporate Crime & Corporate Ethics: How do shareholders trust again?"

Dr. Schnatterly has studied the factors that have contributed to white-collar crime including studies of Enron, Adelphia, and WorldCom.

White-collar crime costs U.S. companies $200-400 billion and between 1% - 6% of sales. The recruiter part of me perked up when she said there are four main factors in controlling the behavior: policies, internal control, communication, and compensation particularly policies and communication. Turns out setting expectations and having them continually communicated make a big difference.

More information on the luncheon series can be found on the Carlson School web site.

Upcoming speakers include Randall Hogan, Chairman & CEO of Pentair; Tom Tiller, President & CEO of Polaris Industries; Robert Switz, President & CEO of ADC Telecommunications.

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