Corruption in Procurement and Acquisition: The Need for Mitigation - Literature review Example

The paper "Corruption in Procurement and Acquisition: The Need for Mitigation" is a perfect example of a literature review on human resources. Corruption in organizational procurement and acquisition is a widespread and pervasive problem that is present in virtually all nations throughout the world. Corruption in procurement manifests itself in the form of bribery, offering kickbacks, bid-rigging, and even extortion in order to provide a particular economic or status advantage to the perpetrators of procurement corruption.

Its costs, both economic and social, to a nation are substantial and can contribute to inefficient education systems, homelessness, increase violence and even have implications in healthcare. Why is this? Organizations that utilize resources for such activities as bribery or offering kickbacks are allocating funds toward unethical activity in an environment where these resources could be diverted to more effective social programs or beneficial endowments that have a more positive impact on society.

This study uncovers the costs to society and the organization engaged in procurement corruption to illustrate why it requires mitigation domestically and internationally. The research also identifies what efforts have been launched across the world in an effort to alleviate procurement corruption with a supplementary investigation into whether punishments are sufficient for curbing these behaviors in public and private procurement. The study finds, after an exhaustive analysis of relevant statistics and literature, that mitigating procurement corruption must be a collaborative and multi-faceted system of many stakeholders and there cannot be reliance on only a single methodology or system for mitigation.

Corruption in Procurement and Acquisition: The Need for Mitigation Introduction Corruption in procurement and acquisition is a tremendous problem which impacts both the private and public sector. The government, agencies in the public sector, and private businesses are reliant on efficiency and integrity in their supply chains in order to effectively manage costs and ensure timely receipt of essential goods critical to conducting organizational operations. When corruption is present in procurement, it can have significant implications for achieving organizational goals and objectives and on the ability of the organization to provide superior assets which can be allocated to improving a nation’s social condition.