PHIL215 Lecture Notes - Foreign Corrupt Practices Act, Multinational Corporation, Nestlé
26 Nov 2012
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Document Summary
A lot of countries around the world believe in bribes and gift giving while doing business (example: giving the other party money to begin business with them) Foreign corrupt practices act: makes it illegal for a publicly listed company, to bribe any government official. Bribery and gift giving are an invitation to corrupt people"s moral character: especially public officials, they have to make the best decision in the public interest. Inviting them to have a conflict of interest. Bribery and gift giving forces you to lie or falsify financial records to apply them. Controlling your costs going down the road of bribery, you never have control of your costs: almost never a one-time payment. Bribes and gifts that are too generous undermine your own competitiveness (on the price and quality of the good that you are offering for sale: takes your eyes off the prize, short-term focus of favours.
