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...
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