When Not to Innovate

Jim Thompson's column emphasizes the importance of ethical business practices, particularly regarding financial record-keeping. He warns against manipulating financial data, citing several notorious examples of corporate fraud. Thompson stresses the necessity of accurate, daily inventory counts, even with computerized systems, to prevent fraudulent behavior. He advocates for honest business dealings, including prompt payment to suppliers and adherence to fair contract terms, ultimately arguing that integrity is crucial for long-term business success.