This is not wholly correct. Having worked for over 30 years in the private sector, balance in public sector; my service life experiences are somewhat different.

The multinational private sector to a great extent did not have bribery and mismanagement (sometimes). However nepotism in the form of influencing bosses, what was called the "non-Einsteinian theory of relativity (Relative's influence, particularly from high govt. officials) was not unknown. Often jobs were given on this basis" Also prevalent was "buttering up bosses"; what we used to call "oiling and greasing" was present. However, bribery was non-existent. The same applied to the public sector, but here bribery was often practised. To give the devil its due, I found this very much absent from 1971 through 1976.

Frankly, our Bangladeshi private sector does not actually operate as a professional management entity. Their practices are based only upon expediency and profit making, principles are non-existent.

This is the sum of my around 50 years' experience in the public and private sector (international and national), with around 20 years as head of public sector enterprises.