Foreign Corrupt Practices Act

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  • Foreign Corrupt Practices Act (FCPA): International Business Analysis

    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…

    Words: 1766 - Pages: 7
  • Jextra Neighborhood Stores Case Analysis

    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…

    Words: 2912 - Pages: 12
  • The Sarbanes-Oxley Act (SOX)

    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.…

    Words: 1141 - Pages: 5
  • Bribery Essay

    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…

    Words: 1026 - Pages: 5
  • Corruption In Wal-Mart De Mexico

    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…

    Words: 1282 - Pages: 6
  • Walmart Case Study Business Ethics

    From the profit maximization or individualism theory point of view, every business when making the profit must consider the human right and the law. In this analysis, we will assume that Wal-Mart is guilty since it ignored the well being of everyone and anything in order to maximize its profits. In addition, there is substantial evidence that Wal-Mart paid bribes to a foreign official. Therefore, even the profit that they received unlawfully will not qualify as satisfactory under individualism…

    Words: 1615 - Pages: 7
  • Arguments Against Corruption In Sports

    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:…

    Words: 790 - Pages: 4
  • Walmart De Mexico Case Study

    It should be noted that there is nothing wrong with wealth accumulation within an organization. Nevertheless, any form of wealth accumulation must be confined to the law. Being one of the most traded companies, Wal-Mart has already tarnished its name. This may carry grave consequences in both the present and the future. The fact that it is under investigation for violating the Foreign Corrupt Practices Act may add to its legal woes. Thus, Wal-Mart overlooked its legal responsibilities in its…

    Words: 1216 - Pages: 5
  • Essay On Morall And Johnson Credo

    company resorted to these tactics because the Mexican and the legal system is easily corrupted, so they took advantage. The FCPA (Foreign Corrupt Practices Act) did fail in this case. In 1977 the year FCPA was formed, it was supposed to prevent business from using relaxed international laws to boost the company’s revenue, with bribery, and fraud. “The FCPA was enacted in 1977 after Congress discovered that more than 400 corporations had made questionable or illegal payments in excess of $300…

    Words: 1206 - Pages: 5
  • Walmart Business Philosophy

    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…

    Words: 1731 - Pages: 7
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