Foreign Corrupt Practices Act

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    The Foreign Corrupt Practices Act (FCPA) was established in 1977 by Congress to ensure that all American businesspeople and companies were using ethical behavior when participating in international sales and contracts. At the time, companies based out of other countries would often bribe government officials to ensure that they received preferential treatment in any contracts they may enter with another business entity or a consumer and American companies and businesspeople had established an unwritten “When in Rome” policy towards any contracts they may enter on an international scale (Miller & Hollowell, 2014). When establishing the FCPA, Congress had the intention to ensure that American businesses and individuals were not using unfair means…

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    [Explain your choice of methods, key assumptions, and valuation results here.] A violation of The Foreign Corrupt Practices Act consists of 5 elements: 1) make payments to foreign government officials 2) to assist in obtaining or retaining business. 3) Payment to a foreign government official 4) With a corrupt motive 5) to influence the foreign official in his or her official capacity, or induce the foreign official to do or omit to do an act in violation of his or her lawful duty Along with…

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    In 2012, the New York Times published an article reporting extensively on the rampant corruption in the business practices of Wal-Mart’s Mexican branch, Wal-Mart de Mexico. The article reported that the company paid more than $24 million in order to obtain things such as building permits and beneficial environmental impact reports as a way of facilitating unprecedented large growth (Barstow 2012). Due to these practices, Wal-Mart has come under scrutiny of the United States’ Foreign Corrupt…

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    International business has changed the way businesses and government operates. Due to the difference in ethical practices in the U.S. as opposed to the standards of other countries corporations often times find themselves in violation of U.S. laws. The Foreign Corruption Practices Acts of 1977 are a set of laws that prohibit bribery to foreign officials and the use of specialized accounting practices to hide these transgressions. Walmart is one of the latest multi-million dollar corporations…

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    The world’s most powerful sporting organization is rife with corruption, says U.S. law enforcement authorities who have indicted FIFA officials. A British journalist who exposed FIFA’s corruption was interviewed by CBS news on 60 minutes. Andrew Jennings started investigating FIFA 20 years ago. He followed some of the top executives and uncovered that bribery was a common form of practice within the organization. FIFA’s purpose is to regulate and promote the most popular sport in the world:…

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    Sarbanes Oxley Act In the effort to reduce corporate power, Congress passed the Sarbanes-Oxley (SOX) Act “in 2002 to protect investors form the possibility of fraudulent accounting activities by corporations,” (Root 2015). In response to all the scandals reported involving major corporations like Enron, Tyco, and WorldCom, liability was made to corporate responsibility as investors and shareholders suffered major losses due to financial and accounting obstructions from those within the company.…

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    Bribery Essay

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    incentives have been used to offer kickbacks to partners. Today, these unethical practices are referred to as bribes. The rampant bribery cases in the global marketplace has led to the development of many combat measures to stop bribery. When discussing the concept of bribery, its costs and benefits to a business cannot be left out. Similarly, one cannot fail to acknowledge the Foreign Corrupt Practices Act and its provisions. The Siemens is one of the companies in the international marketplace…

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    Chong to just pay the bribe to the Mayor of Klang and “fall back on the standard of cultural relativism” (Daniels, Radebaugh, and Sullivan, 2010, p.195). As a manager, Mr. Chong should act responsibly and ethically, and in compliance with local law, corporate culture and International law. The best approach for Mr. Chong would be to report to the Regional Operating Officer responsible for Malaysia, Singapore and Thailand and to the CEO, and CFO of the Supermarket and Hypermarket Divisions of…

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    Wal-Mart is one of the largest retailers in the world. It is a multinational company with over 11,000 stores (“Walmart Locations around the World,” n.d.). The brand name is synonymous with low prices. In fact, Walmart’s mission is to offer quality products at the lowest price. The company achieves its “everyday low prices” by ensuring its business practices are both efficient and effective (Ferrell, Fraedrich, & Ferrell, 2014). The company also prides itself by offering best-in-class…

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    has realized that moving their operations to a property they have recently purchased on the Chavon River in the Dominican Republic will stave off the closure of the business. The following will address the corporate social responsibility of the Clean Power Company’s decision to relocate to the Dominican Republic. “When an incorporated business judges the effects of its decision on its multiple stakeholders, and then basis its decisions on the interests and needs of those stakeholders, the…

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