Analysis of Issues of Corruption in Multinational Corporations Free Essay Example, 1500 words

The business partners are multiple. As stated by Mr. Sayed common legislation for controlling of the bribery is urgently required. There have been a few NGOs and organizations like OECD who have taken initiative to come up with legislation against issues of bribery. Codes are set up internationally which are meant to help the business decisions. It is a welcome effort as the issue is very serious and concerns day to day business applications. These codes specify bribery in three cases, people who are party to the bribery, active and passive version of bribery, actual bribery and the promise to pay bribery. There are practical difficulties in the implementation of the codes. If the definition of bribery is in itself vague then implementation of any regulation against it could be extremely difficult. Besides the codes themselves admit that it is impossible to cover the entire activities of bribery and regulate them. For some cases, it can provide a guideline, for others a definitive c ourse of action. The worldwide perspective of cultures comes in the picture here. What is accepted in some part of the world may not objectionable in other parts? We will write a custom essay sample on Analysis of Issues of Corruption in Multinational Corporations or any topic specifically for you Only $17.96 $11.86/pageorder now In such case regulating each and every course of action becomes vague. Like in case of facilitation payments, sometimes such payments are considered if they are meant to procure routine business work. Although these payments are not illegal the organization should not get into such practices. The regulations become dicey. In fact, dealing on the case to case basis is preferred. Again when it comes to gifts and entertaining the regulations are on the borderline of what seems to be an acceptable business practice and what comes under bribery. With these main areas getting hazy the international business community would definitely not be happy with the regulations. Another problem associated with these regulations or codes is their implementation. The anti-corruption culture has to come from within the organization as well. Even when we speak about cultural differences no culture or business environment in any part of the world would accept corruption as a norm, which is a very hopeful situation.