The Ethical Dimension #8 Bribery and corruption are common in some countries, an

Question

The Ethical Dimension #8 Bribery and corruption are common in some countries, and for people in those countries, they are a normal part of doing business. U.S. law bans any U.S. company from paying bribes to foreign officials or taking any steps to use illegal means to secure valuable foreign contracts or resources.

1. Why does the United States adopt this ethical and legal stance if people in the country accept bribery as the norm?

2. What could U.S. companies do to help reduce the incidence of bribery in these countries and promote ethical business practices?

Explanation / Answer

1. The ban on any US company from paying bribes to foreign officials is enacted through Foreign Corrupt Practices Act in 1977. The reasons for enactment of this law were

2. In 1997, after years of lobbying by the United States, the world's 29 industrialized countries formally agreed today to a treaty that would outlaw the practice of bribing foreign government officials. This treaty was signed in Frankfurt by countries belonging to Organization for Economic Cooperation and Development

US companies can follow these ethical practices to reduce bribery in foreign countries

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