Bribery or the Cost of Doing Business? Unfortunately, bribery is still perceived

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Bribery or the Cost of Doing Business?

Unfortunately, bribery is still perceived as the part of doing business in some of the developing countries across the globe, including certain European countries (Loughman & Sibery, 2012). At the same time, it should be pointed out that this often becomes the main cause of slow economic growth and numerous socio-economic issues in these countries, because bribery should not be justified if it is prohibited by the law. Therefore, I would not pay a bribe, even if it is seen as the part of a business in this particular country, but some additional information would help me to react in the best possible way under such circumstances.

Prior to conducting a business activity in a new market, it is necessary to analyze different displays of its socio-economic and business environment. Basically, this provides a company with important trends and facts about a country and its people, which usually are not revealed officially (Cross & Miller, 2008). Thus, the information regarding the perception of bribes is likely to become quite helpful under these circumstances, as this would help me to prepare myself to face such a dilemma.

From the general perspective, the bribe reflects the ethical side of a certain business. In other words, the decision whether to pay a bribe or not should not depend on the cultural and social specifics of the country the company enters but the company itself. Generally, bribery is considered as illegal and unethical phenomenon, which is why it produces an extremely negative impact on the reputation of the company. Therefore, I would refuse to pay a bribe and if it led to any complications regarding the shipment, I would contact agent’s supervisors in order to deal with this issue.

Cross, F., & Miller, R. (2008). The Legal environment of Business. Cengage Learning.

Loughman, B., & Sibery, R. (2012). Bribery and corruption. Hoboken, NJ: Wiley.

Question need help answering.

1. Do you think that it is possible for company to go too far in being tolerant of ethical standards in a foreign country?

Explanation / Answer

1. I dont think it is possible for a company to go too far in being tolerant of ethical standards in a foreign country. Although many times it is said that ethics should be followed as per local environment calling it as situation ethics but it may result in damaging a company's reputation globally. Just to win few favours unethically in a foreign country may put up company's position on risk. If the company wants to strengthen its image globally then its very important to follow global set of ethics and principles everywhere. Nothing should be more important than the reputation which can be harmed by ethical violations.

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