Business Fraud: The Case of Bribery in Walmart

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FRAUD IN BUSINESS BRIBERY IN WAL-MART FRAUD IN BUSINESS Money is the most capricious and unreliable entity. It can turn friends into foes. Business is all about earning money and thus it involves weirdest displays of human unethical behavior to make money. Frauds in business can take the shape of fake payments, misleading orders, bogus discounts, bribery, illegal practices to gain share, power and control, selling low quality goods in the name of superior quality etc. Thus it is not uncommon that businesses face frauds and according to Garrett (2013) about 50% small businesses experience fraud anytime through business lifecycle. On average, it costs $114,000 per happening to these businesses. And the worst part is that the fraudulent party is one most trusted and considered most loyal. In large businesses as well, frauds bring a lot of damage to the image and finance of the business. Companies can fall and even perish due to frauds in the operations or management decisions. WAL-MART Wal-Mart operates largest number of retail stores globally and it also earns highest revenues as well as employees huge number of workers, in fact largest private employer in USA. The company claims to offer low prices goods at best quality. Although people benefit from the low prices and good quality retail items of the company, it is charged with involving in unethical and illegal practices of bribery in the re recent past. Though the case is strongly investigated, there is not
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