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Bribery and Corruption: Practices and Consequences

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The United Nations, the OECD, and many other international organizations monitor and asses the levels of bribery and corruption in the countries of the world. There are even a number of indexes available on the Internet to gauge the potential problems of doing business in selected countries and their "corruption score". In some countries there are no bribes, but there are "extraordinary gifts" which is a much more gentile way to say the same thing.

So, why is bribery and corruption an issue? What are the consequences? Who benefits and who loses? Create a new post in this discussion where you take a position on this issue and justify your response. Use a scenario if possible, and remember to cite your sources.

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Bribery has been a major issue in recent years. As more U.S. companies have expanded overseas, stronger laws have been enacted to prevent this type of illegal practice. The Foreign Corrupt Practices Act (FCPA) is followed by all U.S. companies and other countries have also enacted the same type of legislation. The main issue with bribery is that it is an unethical way to achieve advancement in a foreign country. It has always been the standard in some countries, where it is perfectly ...

Solution Summary

This solution discusses why bribery and corruption is an issue. Extraordinary gifts and the parties that benefit and lose are also discussed.

See Also This Related BrainMass Solution

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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