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International Marketing 10th Edition by Michael Czinkota, Michael Brumbach, Ilkka Ronkainen
Edition 10ISBN: 978-1285687162International Marketing 10th Edition by Michael Czinkota, Michael Brumbach, Ilkka Ronkainen
Edition 10ISBN: 978-1285687162 Exercise 16
Bribery and Corruption
Bribery and corruption continues to be a major international business challenge. Some firms claim that in many countries, public sector contracts can simply not be obtained unless major payments are made to government officials. Furthermore, the Foreign Corrupt Practices Act of the United States (FCPA) exposes companies and their managers doing business in the U.S. to harsh financial penalties and prison sentences if they violate the FCPA. On the other hand, many competing firms are said to bribe their way to the contract. Such action is particularly onerous, when a specific project serves
as the entryway into subsequent, much larger business activities.
In consequence, some firms keep at a distance from their foreign appointed middlemen and agents, since they do not want to know the details how the contract was won. Others develop in-house formal antibribery programs which all employees must learn about.
As a share holder, how do you evaluate the need for companies to go beyond the letter of the law?
Bribery and corruption continues to be a major international business challenge. Some firms claim that in many countries, public sector contracts can simply not be obtained unless major payments are made to government officials. Furthermore, the Foreign Corrupt Practices Act of the United States (FCPA) exposes companies and their managers doing business in the U.S. to harsh financial penalties and prison sentences if they violate the FCPA. On the other hand, many competing firms are said to bribe their way to the contract. Such action is particularly onerous, when a specific project serves
as the entryway into subsequent, much larger business activities.
In consequence, some firms keep at a distance from their foreign appointed middlemen and agents, since they do not want to know the details how the contract was won. Others develop in-house formal antibribery programs which all employees must learn about.
As a share holder, how do you evaluate the need for companies to go beyond the letter of the law?
Explanation
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Bribery and corruption is an internation...
International Marketing 10th Edition by Michael Czinkota, Michael Brumbach, Ilkka Ronkainen
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