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Reducing Bribery Overseas

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Facilitating payments or bribery is an acceptable business practice in many cultures. What can multinational companies and the global community do to reduce bribery? What effect do US laws have on US companies conducting business overseas in relation to bribery? What are possible measures that can be taken to 'level the playing field' for US based companies?

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Problem:

Facilitating payments or bribery is an acceptable business practice in many cultures. What can multinational companies and global communities do to reduce bribery? What effect do US laws have on US companies conducting business overseas in relation to bribery? What are possible measures that can be taken to "level the playing field" for US based companies?

Solution:

The global community needs to persuade multinational companies to reduce their investments in corrupt countries. Encarta defines corruption as "dishonest exploitation of power for personal gain" ("Corruption," 2009). Corruption acts like a fluctuating tax that increases the cost of doing business and reduces the incentive to ...

Solution Summary

This solution discusses the importance of reducing corruption through bribes and the role of the Foreign Corrupt Practices Act in 328 words with three references.

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Business Ethics: Bribery is an acceptable business practice in many cultures.

Facilitating payments or bribery is an acceptable business practice in many cultures. What can multinational companies and the global community do to reduce bribery? What effect do US laws have on US companies conducting business overseas in relation to bribery? What are possible measures that can be taken to 'level the playing field' for US based companies?

Text: Ferrell, O.C., Fraedrich, J., & Ferrell, L. (2009). Business Ethics: Ethical Decision Making and Cases (7th ed.) Boston, MA: Houghton Mifflin Company

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