Monthly Archives: September 2013

Business Ethics: Corruption and Bribery within Multinational Companies

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Many multinational companies have found themselves caught off guard by the implementation of harsher laws against corruption in ‘high-risk’ countries, stricter enforcement of said laws, and extensive anti-bribery laws in large countries like the US. Over a third of companies, a significant amount, fail to include clauses prohibiting such behavior (on behalf of the firm) in their contracts. A shocking 91% of companies “admitted to having no specialized anti-corruption training for staff in high-risk areas”.

From a purely economic standpoint, such actions may prove to be profitable. However, bribery is enormously unethical. So what is ethics? Or rather, what are business ethics? In essence, ethics has to do with being critical but maintaining structure. Ethics is having an opinion, of making judgments on moral beliefs. But it is not only that; ethics also has to do with justification. Rationalization of one’s opinions is equally important. Business ethics is the application of this principal in the field of commerce – the rationalization of a firm’s action or opinion from an ethical standpoint.

Now, on to bribery. Why is bribery wrong? Bribery is the deliberate act of offering payment to someone who has an official responsibility with the intent to dissuade them from said responsibility. This act of peddling influence is morally unacceptable. The person being bribed is also in the wrong by agreeing to a deal that she/he is not morally allowed to take, thereby breaching a previous obligation.

Sources:

http://www.telegraph.co.uk/finance/globalbusiness/10294957/Companies-apathetic-about-corruption-risks.html

http://businessethicsblog.com/2010/03/21/ethics-definition/

http://legal-dictionary.thefreedictionary.com/Bribery

COMM 101 – First Class

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Coming into the building in the morning, I was rather apprehensive. I had heard from other students about the imposing rooms the class was housed in, about the cameras that zoomed in on you when a microphone was turned on.

Outside the room just before class began, I caught sight of some familiar faces. I found people I knew from various orientations, including one from a couple of months ago, and club icebreaker events. Talking to my peers, I felt my fears abate slightly. It was comforting to know that I would have friends with me.

During the class, I was pleasantly surprised to find the atmosphere significantly lighter than what I expected. For one, I certainly was not expecting one of the professors to bring out a bike and ride it across the front of the classroom as support for an analogy. The professors were very spirited and passionate, something that helped to make the class engaging. The class was more flexible than I had imagined it to be, and there was plenty of opportunities for discussion on the various subjects matters introduced. Many different opinions were represented and despite the fact that I had lost my voice (I blame FROSH and the Imagine Day pep rally), I found myself wanting to join in.

All in all, the class really deviated from my expectations, something I was exceeding grateful for. I enjoyed the class very much, and am looking forward to our next meeting on Tuesday.