Working with Third Parties: Partnering Responsibly for Shared Advantage
Businesses need to leverage the skills and resources of their vendors, contractors, consultants, distributors, and other partners to increase their chance of success and best serve customers. But organizations have their own values, culture, standards, and objectives. These differences can cause conflicts among partners, sometimes leading to conduct that others find questionable or illegal. A business needs to carefully manage its relations with its third parties to avoid or reduce risks of unethical conduct and increase the chance of success. Each individual has a vital role in helping the organization to manage these third-party relationships.