CORRUPTION AND ETHICS IN GLOBAL BUSINESS 2
Running head: CORRUPTION AND ETHICS IN GLOBAL BUSINESS 1
Corruption and Ethics in Global Business
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Corruption and Ethics in Global Business
The article ‘Ethics in international management’ indicates that there has been a rise in businesses which operate internationally, hence an increase in the issue that faces those international businesses. Corruption and ethics are one major issue of discussion in international business; as a result of the rise in concerns of the ethics to be integrated into global trade and the causes and effects of corruption in international business operations. The global business society has had to develop and implement the standard ethical practices of business behavior and taking into account the civilized world. This paper seeks to provide more in-depth insights into the ethical issues and matters surrounding corruption in global businesses.
Root Cause of the Issues of Corruption and Ethics in Global Business
Paying and taking bribes is relatively common in many nations, and this results from some factors that may subject individuals to corruption. The issue of corruption has been reported as rampant as a result of the many bureaucratic features and unstrict laws that makes corruption to seem as not outlawed. When large corporations choose to enter the global market, they must get several permits, registrations approvals, and licenses (Doh, Luthans & Slocum, 2016). Any direct payment that is made to the foreign official that is intended to impact their decision is referred to as bribery. Globalization has led to increased interactions between various stakeholders in global markets, and some participants may decide to take advantage of giving illegal payoffs and incentives.
Addressing the Issues
Both government and intergovernmental organizations have put in measures to ensure that the code of ethics is observed by international business. They have also redoubled their efforts to reduce international business subornation. This issue has been hard to solve because the ethical regulation has not clearly outlined where a business gift because of a bribe (Kumar& Steinmann, 2015). Fighting corruption needs more than following the laws and staying out of the spotlight. Managers should demonstrate a clear and practical commitment of dealing with corruption implementations; and when they become updated, they should identify and improve on those procedures. Managers should be the significant figures that should set process for the organization, and those process should follow the ethical conduct.
References
Doh, J. P., Luthans, F., & Slocum, J. (2016). The world of global business 1965–2015: Perspectives on the 50th-anniversary issue of the Journal of World Business: Introduction to the special issue.
Kumar, B. N., & Steinmann, H. (Eds.). (2015). Ethics in international management (Vol. 84). Walter de Gruyter GmbH & Co KG.