Topic > Bribery and Corruption in International Trade - 1748

Bribery and corruption are a way of life in many countries. These practices influence how international business is routinely conducted. However, in most of these countries, it is illegal to offer or receive bribes or engage in corrupt practices. Yet corrupt practices are part of the "culture" of "doing business". Unless companies “complie” with such practices, in many cases, international business transactions cannot be conducted. This essay will attempt to provide a discussion on bribery and corruption in the example of international trade from different points of view based on the main ethical system, such as religious, philosophical and "natural". The case of the Siemens corruption scandal linked to ethical issues will be analyzed. Corruption is a very important issue that concerns many companies. Corruption cases vary from country to country, but each has a different concept about it as managers in Hong Kong and Greece are less critical of corruption in certain situations than in the Americas. Paying bribes carries a great risk of damaging the company's reputation in the country where the bribes are paid and at home. Furthermore, there is also a risk that the company's corporate culture will become more open than many other practices regarding legal issues. There is also evidence to suggest that those countries with reputations for bribery and corruption harm themselves, as reflected in their economic growth, have low rates of high level corruption like Nigeria. state and high-level officials, it is just distortions of decision-making “where there is a lot of government, there is a lot of corruption.” (The Economist 2006 p132). Or......middle of paper......Bowie, N 2006, The Blackwell Guide to Business Ethics, 2nd edition, Oxford, UKGeorge, R 2006, Business Ethics, 6th edition, Pearson Prentice Hall, New Jersey, USAHill, C 2007, International Business: Competing in the Global Marketplace, 6th Edition, McGraw Hill International Edition, New York, NYMoon, C & Bonny, C 2001, Business Ethics: Addressing Problems, 1st Edition, Profile Books Ltd, Gran Brittany.Pearson, G 1995, Integrity in Organizations: An Alternative Business Ethic, 1st edition, McGraw Hill Book Company Europe, Great BritainRugman, A & Collinson, S 2006, International Business, 4th edition, Prentice Hall, England, UKSternberg, E 2000 , Just Business: Business Ethics in Action, 2nd edition, University of Oxford, Great BritainWall, S & Rees, B 2004, International Business, 2nd edition, Prentice Hall Financial Times, England, United Kingdom