Ethics: Foreign Corrupt Practices Act the Main Essay

Open, View, and/or
Download this Document

Total Length: 948 words ( 3 double-spaced pages)

Total Sources: 4

Page 1 of 3

Ethics: Foreign Corrupt Practices Act

The main thrust of the readings

The readings focus on the U.S. statutes prohibiting U.S. companies, citizens, and employees from issuing any valuable thing to foreign government executives for securing business benefits. The underlying thrust of the readings is twofold: first, that corruption must be deterred and second that government officials must promote economic relationships between their companies and foreign firms through the promotion of ethical foreign investment.

The rigid enactment of the FCPA has placed these two thrusts in a state of tension. Law enforcers and courts could interpret the readings broadly. For instance, any valuable thing includes not just payments in cash but also meals, gifts, entertainment and drinks. This element is not associated with any de minimis value and makes companies uncertain when they are expected to comply with the FCPA. From the readings, the FCPA has been enforced and institutes criminal fines of about forty-two million on each count of violation. This applies to firms operating against the law. Recent cases have attracted fines exceeding $2 billion (Pastin & Hooker, 1980). It is evident from the readings that courts have sentenced business owners or at least fifteen prison years for committing major violations.

The readings reveal that the severity of civil and criminal penalties ordered under current FCPA cases have been attracted widespread popularity. They have similarly spurred rigid adherence to practice extreme caution when dealing with overseas governments and corporations.

Stuck Writing Your "Ethics: Foreign Corrupt Practices Act the Main" Essay?

View All Our Example Ethics: Foreign Corrupt Practices Act the Main Essay

Have A Custom Example Essay Written

The readings have over emphasized on policing corruption overseas and the extra border applications of criminal sanctions for the sake of enforcing U.S. cultural prejudices. This puts U.S. firms at a remarkable competitive advantage when business associations in nations where culture allows the practices prohibited by the FCPA (Brenkert & Beauchamp, 2010).

How each of the readings relates to the overall thrust of the module

Although the purpose of the module was to study how to curb bribery, these readings have focused on doing the same in a manner that favors the U.S. In constructing international political and economic alliances. They reveal that the arrogant application of the new law contributes to the erosion of the position of American firms in some countries. In places where bribery is common, the thrust of the readings is inefficient and counterproductive in curbing corruption. U.S. firms under the FCPA must compete successfully in such areas. They are also barred from engaging in possible corrupt practices (Pastin & Hooker, 1980).

Firms headquartered in nations unaccustomed to such strict anti-bribery laws like China take advantage of the unethical playing field thereby making corruption practices unabated. Such dynamism puts the readings and the module at crossroads. It generates myriad economic, foreign policy and ethical problems for the U.S. (Pastin & Hooker, 1980). These issues manifest in China's aggressive business environment. Emerging African economies like Sudan and Angola are mostly seen….....

Show More ⇣

     Open the full completed essay and source list


OR

     Order a one-of-a-kind custom essay on this topic


sample essay writing service

Cite This Resource:

Latest APA Format (6th edition)

Copy Reference
"Ethics Foreign Corrupt Practices Act The Main" (2013, September 19) Retrieved May 1, 2024, from
https://www.aceyourpaper.com/essays/ethics-foreign-corrupt-practices-act-main-96685

Latest MLA Format (8th edition)

Copy Reference
"Ethics Foreign Corrupt Practices Act The Main" 19 September 2013. Web.1 May. 2024. <
https://www.aceyourpaper.com/essays/ethics-foreign-corrupt-practices-act-main-96685>

Latest Chicago Format (16th edition)

Copy Reference
"Ethics Foreign Corrupt Practices Act The Main", 19 September 2013, Accessed.1 May. 2024,
https://www.aceyourpaper.com/essays/ethics-foreign-corrupt-practices-act-main-96685
   

Open, View, and/or
Download this Document
order custom essay example