Time was, corporate misdeeds could be pretty effectively covered up. Sure, some scandals would leak out and make headlines, but information could often be contained, insiders constrained, or ignorance feigned.
No more. We’re in a time of new transparency.
It’s getting very difficult to keep the lid on wrongdoing, and I, for one, think that is a good thing. What has changed? In a word, electronic communications.
Damning information is leaking out all over nowadays. In our industry, there has been a significant uptick in corporate e-mails, Powerpoint slides, documents, and other documentation of wrongdoing flowing out and becoming public. Much of this has occurred through the emerging pharma blogger community (most notably, Peter Rost over at Question Authority; but now others, such as Ed Silverman at Pharmalot, are being given such info).
Of course, a lot of “after the fact” electronic information gets exposed during trials, as archived e-mails and other documents are unearthed. But now, we no longer have to wait for the discovery process of trials. We’ve seen information leaked, exposure occur, investigations begun, and people fired within weeks – because blogs suddenly make it possible to publicize information almost immediately. Including pictures and videos (far more ubiquitous nowadays).
This has its dangers, of course. Most bloggers are not trained journalists. Sometimes due diligence has not occurred. Rushes to judgment can occur. But when clear electronic evidence is brought to light…well, a refusal to take action suddenly becomes less of an option.
This forced transparency can have a salutary effect. Ethical behavior may be forced on those who otherwise would blur the lines. If you have nothing to hide, you have nothing to fear. But if you’re playing games, the likelihood now is far greater that you’ll pay the price. Very publicly.
I agree entirely.
Change – embrace it Big Pharma!
Tom McManus says
I am a management consultant and attorney very focused on transparency. I found your post to be right on. I am also an adjunct professor in the management department at a business school and have been the lead guest editor of two special issues of the Journal of Management Development focused on Transparency. I am doing a third and final issue and am interviewing executives and thought leaders on the relationship between transparency, business ethics, and corporate social responsibility. I am especially interested in transparency successes and failures so to speak. Steve, I will contact you to follow. If any of your readers have a good story to tell about the above in the Pharma industry I would love to hear it! Tom McManus email@example.com