Select Topic 2 :bribery............

Literature Review - Bribery
Running Header: Literature Review
Title: Literature Review
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Date: 3/9/2018
Author’s Note
The report is presented as part of requirements to complete the course
Increased competition and greed for illegal profits and benefits made most of the contemporary business co
upted. Co
uption is seen at almost all layers of contemporary business. Right from local businesses, co
uption is seen in international businesses as well. The outlook and treatment towards
ibery is changing from environment to environment In United States of America, there are strict regulations prohibiting the united states company managers from
ibing the foreign nationals or officials for their favours. Such acts are classified as illegal and do attract criminal offences. At the same time In France and Germany there are provisions made in the company to do
ibing of the foreign nationals and officials as per the requirements. There are also tax deductions made in this regard as per the literature findings available. A recent development in Anti-
ibery framework include formulation of convention with about 37 countries and as per the agreement made in the offering or paying
ibes is a criminal offence and this will ends the deductibility of the
ibes. The following part of the write-up discusses about
ibery in Contemporary business.
Literature Review
Bribery can be considered as either money or any other valuable consideration given or promised with a view to co
upting the behaviour of a person, especially in that person’s performance as a public official or any regulating agency in the context of business enabling. It will be given normally for serving to persuade or induce illegally. Bribery whether in the same country or in the host country will contribute to several possible implications to the general public (Philip, 2016). For example
ibery can favour a construction company by approving unsafe buildings prepared by them. A manufacturing company gain approval to its unsafe and toxic food products by
ibing the inspecting and regulatory authorities. Also it is possible that the government contracts can be provided to products whose prices are much inflated to the market values by employing
ibing practices. Altogether in any of the case,
ibing will do the co
uption of the concerned official and will result in ultimate damage to the general public in terms of the looting away of their returns. Further it will also make the organizations gain unlawful competitive advantage over law abiding organizations which is not justified. Bribing will make it uncertain, well running organizations which normally will depend on predictability will lose their predictability once the market is getting co
upted with
ibing. Further it is also possible that the
ibing practices will spoil the overall organizational talent. Different functions of the organization will not actually function properly when they are co
upted by
ibery. When there is
ibing in the organizations, teams will not actually function in accordance with the business expectations, as the only concerned is now the payoff, that do matter and the rest of the functions will not bother them. The talented staff will also leave the organization, as there won’t be any weightage to their talents in the organization and the only thing that matters now is the payoff. Further illegal payoffs will results in lot of subsequent malpractices by the organizations in accounting procedures. It is a menace and invokes co
upt chain practices across diverse functional groups of the organization. The extremities of
ibing in business can go even upto to the linkages with te
orism. As per the Bush Administration,
ibery can even nurture international te
orism. Hence good governance and relation with ethical leadership is all that is needed for total removal of the
ibery from the organizations. Foreign co
upt practices Act (FCPA) is working...