1 page/≈275 words
Business & Marketing
Bribes in International Business (Essay Sample)
In 1977, the US passed the Foreign Corrupt Practices Act. I worked in Washington at the time representing foreign MNCs doing business in the US. My firm opposed the FCPA and I was surprised that the Act was passed. The law prohibits the payment of bribes to obtain or maintain a contract with a foreign country. The law allows small bribes to help carry out routine business activities.In many countries bribes are the norm. What is your opinion about the payment of bribes in international business? Have you ever had to pay money to facilitate a transaction? Multinational Corporations (MNCs) operate globally, create employment opportunities, and provide goods to consumers. MNCs are also criticized for extracting resources, abusing labor, and altering cultural norms. Are MNCs positive contributors or are they detrimental to societies? Can you think of an example where a MNC acted positively? Can you think of an example where a MNC acted negatively? source..
BRIBES IN INTERNATIONAL BUSINESS
(09 November 2010)
Bribes in International Business
I hold the opinion that bribery has been used in most cases as a mean of cutting through bureaucratic red tape and spend business deals. I have engaged in bribery to facilitate transactions. This is because even after understanding that bribery is unethical, bribery has paved way for business to expand globally and succeed. In most of the developing countries that I have operated, these forms the only mean of corporations can secure contracts and property rights. This is due to the fact that the governmental officials that are involved are poorly paid. Another reason that made me to engage in bribery was because, in several countries it is a culture that has extensively rooted into the countries culture (Venckute, 2003). For instance when I was in Japan, gift giving was expected at the first meeting and holds deep symbolism. It symbolizes friendship, gratitude and respect. The offering of a gift signify that one is now anticipating a long lasting relationship.
MNCs are positive contributors to the societies. They usually engage in useful and morally defensible activities in developing countries for which in most cases have received little gratitude. Importantly, they extend opportunities for higher income earning and consumption of improved quality products and services o societies in poorer regions (Jones, 2007). Instead they have been misinterpreted by ugly images by Marxists and dependency theory advocates. This is because most of them originate from developed countries like Germany they have been looked upon as instruments for imposition of western culture other than allies in their economic development. Thus proponents of such like views urge for expulsion of MNCs while others propose close supervision by host countries.
Astra Zeneca and ABB involve in corporate activities of philanthropic, collaborating with foundations of children and supporting a farm school....
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