Bribery is a Practice in Contemporary Business

Running head: BRIBERY IS A PRACTICE IN CONTEMPORARY BUSINESS
Title: BRIBERY IS A PRACTICE IN CONTEMPORARY BUSINESS
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1LAW AND ETHICS
Contents
Introduction......................................................................................................................................2
Literature Review............................................................................................................................2
Conclusion.....................................................................................................................................10
Reference List................................................................................................................................11

2LAW AND ETHICS
Introduction
This assessment unit will undertake the detailed study over the several bribery practices and
influential impact in the context of contemporary business. Many studies have been proposed
that explains the significant impact of briberies as practice towards corruption in business
organization hampering the ethical reputation of the company and country as a whole. Bribery
under practice towards corruption defined as the act of receiving or providing some values in
exchange for types of actions or influences in returns, that recipient could otherwise not vary. In
a business, context bribery is often regarded as a gift that influences the conduct of recipient
provided in the form of goods, money, rights of action, preferment, property, privilege,
emoluments, advantages etc.
The report will also represent the literature review based on several peer-review journals,
textbooks and online resources to provide evidence to the information of bribery practices that
have increased in the past few decades due to increased behavioural changes of individual
managers and individuals under ethical and unethical attitudes. Analysis of the relation between
ethics and corruption, decision making under corruption, its key models, the procedure of
organizations towards maintaining cooperate integrity and accountability along with descriptive
knowledge over commercial bribery and elimination for maintaining the sustainability of
business organizations will also be resented.
Literature Review
Ethics and Corruption

3LAW AND ETHICS
Atan, Alam & Said (2017) defines that corruption is a method of obtaining or offering
advantages using illegitimate, inconsistent or immoral with one's rights or duty of others. The
modern understanding of organizations ethics notes that culturally accepted values and norms are
not always ethical choices. Cuervo-Cazurra, (2016) argues that in some culture conflicts with
business practices globally in areas of gift giving has developed into bribery, a form of
corruption. Paying bribes has progressively become common in several countries contributing it
a form of grease payments where small inducements intended to expedite transactions and
decisions. According to a rating of CPI or Corruption Perception Index, countries like Denmark,
New Zealand, Sweden and Singapore comes at lowest of corruption in regard to bribery where
Most of African nation, Myanmar an Russia belongs to the highest level of corruption (Donchev
& Ujhelyi 2014). Worrying facts is that many people have been reported paying bribes to a
higher authority even like judiciary for getting permits and services in the past five decades. Gift
offering in the global business environment is used to pay or establish respect to relationships.
Cuervo-Cazurra, (2016) opinionated that bribery of other hand has become the more common
practice of benefiting oneself, with no or little benefit to the company. These are paid about
winning of business deals. Bribery, commonly in the form of cash payments have reached the
high proportion in many countries where even locals are expressing disgust with corruption and
its impact on regular life for consumers and business. In western countries towards controlling
frequent consequences of corruption, some industries (e.g. Finance) has set legal guidelines
restricting values of gifts maximum of $100 to avoid the perception of the individual that sees
the connection in business as informal and with a negative connotation. Langseth, (2016)
concludes that a business firm operating their functions globally found engaged in questionable
business gifts in the form of bribery intension if caught are fined and faces sanction. But for