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.
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