Fraud, Murder and Bribery - Essay Example

Murder-Fraud Today in many countries around the world, issues of fraud, murder and bribery seems to be more pervasive and increasingly acceptable. Laws in such countries are bending so as to benefit bureaucrats in the name of ‘promoting’ business. These unethical practices in business seem to be escalating in recent decades due laxity in formulating proper laws to curb the vices. For instance, there have been many occasions where government and other tenders are offered in dubious means leaving the international community wondering whether it is the new trend of doing business.

Due to these developing trends, understanding where they exists, why they exists, and how they affects American companies are important to U.S. The other fundamental questions has been should American firms engage in these practices while in business abroad? This is because firms’ ability to effectively compete in the global economy has been affected mainly by these unethical practices.It is not proper to engage in unethical business practices even if a firm is in countries where their practices are tolerated.

Ethical decision-making is important to the success of any Company. Some business decisions are easy and obvious to make; others are not. When a firm is faced with a tough situation, asking various operational questions can help them make the correct ethical decisions. Likewise, it is essential for firms to obey the spirit and letter of the laws within and out of the country at all times. Furthermore, wherever they live or work, they should respect the values that are ethical to protect their reputation both at home and abroad.

Every country where they operate or do business has their own laws, regulations and culture. Many times there are significant deviations from one place to another or between regions. However, no matter where a firm works, they should be all responsible for respecting all applicable laws and do business in the most ethical manner.However, firms in America are not allowed by law to engage in these unethical practices. Despite the desire of a particular firm to engage in such practices, they are prohibited by the law.

It is in public domain that the United States firms, unlike in many other countries around the world, has to contend with the Foreign Corrupt Practices Act (FCPA) of 1977 that tries to address the issue of unethical business practices such as bribery for U.S. companies (Loughman & Sibery,2012). The law was structured in a way that American firms operating in foreign countries are made to understand what unethical business practices are and why firms operating out of the US are not allowed to practice vices such as bribery, murder and frauds in the name of business.

These laws have gone in long way in safeguarding the reputation of American based companies.As a conclusion, one major issue of concern has been whether US firms will remain disadvantaged if they practice ethical business practices in countries where murder, fraud, and bribery are acceptable. However, the fact remains that whether or not these practices are acceptable, the firms have to adhere to the set regulations of operating business. Ethics should always hold, home or abroadReferenceTop of FormLoughman, B. P., & Sibery, R. A. (2012).

 Bribery and corruption: Navigating the global risks. Hoboken, N.J: Wiley.Bottom of Form