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United States: Foreign Corrupt Practices Act

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What is the assessment of the Foreign Corrupt Practices Act?
Is it likely to be a major hindrance for U.S. multinationals?
What position should the U.S. government take regarding the tactics used by foreign multinationals in international competition?

I need some ideas and suggestions. Thank you.

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https://brainmass.com/business/business-law/united-states-foreign-corrupt-practices-act-248005

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RESPONSE:

1. What is your assessment of the Foreign Corrupt Practices Act (FCPA)?

It is important for United States to keep its integrity and uphold its value, both domestically and worldwide. Therefore, when Americans are involved in the business transactions domestically or internationally, these good business practices should be followed, and because they were not, the government had a responsibility to step in with the FCPA. In fact, many business and corporations that were using bribes or other corrupt business practices to obtain or secure businesses, and were charged (see actions taken against bribery on p. 6 of the attached file).

2. Is it likely to be a major hindrance for U.S. multinationals?

The only hindrance would be learning about what is required by the ECPA, and ...

Solution Summary

This solution responds fully to the questions related to the United States Foreign Corrupt Practices Act. Supplemented with an article expanding on the discussion of the act.

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Foreign Corrupt Practices Act - Impact

1. Why might bribery become a problem for U.S. managers working in foreign countries?
2. What are the major features of the Foreign Corrupt Practices Act (FCPA)?
3. Why might the Foreign Corrupt Practices Act create a competitive disadvantage for U.S. firms?
4. Describe the three non-Western traditions that can lead to confusion regarding "gifts" vs. "bribes."
5. What are some suggestions for managers who want to give bribes without violating the FCPA?

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