Legal Business Practices in the United States and Korea Essay

The author Robert Solomon argues that ethics has to an integral part with regard to business management. He does not believe that business management must include unethical or illegal methods to be able to succeed. Solomon preaches that business management is not as simple as obtaining revenue. “Businesses need to abide by fair policies and their owners have to be ethical in dealing with their customers” (Shaw p. 37). The author acknowledges that while illegal practices in business management could bring positive results at first, eventually the business is bound to fail. This is why Solomon recommended eight important policies that can help businesses in integrating ethics into their operations.

OECD published Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and Related Documents to prevent bribery and corruption. The aim of this convention was making the bribery of a foreign public official a crime under their laws (International Monetary Fund, OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, 2001). This document recommends to member countries that:

Bribery – it’s a form of corruption. This is the straightforward use of financial muscle to gain unfair advantage over others. An example would be attempting to gain planning permission by giving

The problem to be investigated is the application of business ethics. In the business world, ethics are extremely important. Ethics are prime elements that help a business to grow and to become more productive. It is by applying proper business ethics that a business can operate in a moral or ethical business environment and managed to conduct all activities in a manner that maximizes profits while not compromising all other non-economic concerns(Schwab, 1996). Businesses have over the years failed to nurture business ethics in order to fulfill shareholders' interests and to have a culture that is oriented towards profit maximization and high performance(Jennings, 2012; Sims & Felton, 2006). This has led business to have gray areas in their activities. Gray areas are those situations or problems that do not fit exactly into any ethical analysis. These are the activities which may be represented to be immoral as a result of lying and false representations on the part of the business.

This will be an over view of ethics as it relates to business in our society. Concepts from Philosophy will seek to describe the correlation between actions that are classified as morally right or ethical in our dealings with each other as human beings. Clear and concise examples will be given as well as ways in which to improve upon business ethics.

6. Evaluate whether the changes in Exhibits 4 and 5 are likely to stop future foreign corrupt practices at Baker Hughes.

Lobbying and bribery both serve the same purpose in the political and business world. The main difference between both of them is that lobbying is a legal was of gaining political influences or avoiding regulations while bribing is illegal and frowned upon by some people. Although lobbying can easily become bribery. Lobbying is mostly seen in developed countries political system due to the fact that many politicians are heavily used to accepting “gifts” as a business usual. Many times politicians and businesses cross the line between lobbying and bribery. Lobbying can start by accepting cars or expensive gifts and by the time the person being lobbied know it they are being bribed and deeply involved in corruption. Bribery is most often seen

Then there is bribery, which means to offer something of value to influence actions that are going to happen. A really famous case of bribery happened in Britain with the British aerospace company. The main concern was the deal between the company and Saudi Arabia, this deal was made so Saudi Arabia could be supplied with fighter jets. The investigation spread to BAE's dealings in South Africa, Tanzania, Chile, Romania, the Czech Republic and Qatar. The investigation focused on payments made by BAE through a go between

The next nation that will be discussed is South Korea, whose legal tradition finds its origins from Japan, but is now becoming more American in nature due to increased globalization. Korea’s legal tradition was first established 4,300 ago when the Gojoseon dynasty created its own statutory law, heavily influenced by Confucianism and China’s legal system (SpringerLink and Yŏn 'guwŏn 2). (note that during the retelling of South Korea’s history, the nation will be referred to as Korea until the point at which it became separated into Northern and Southern territories). Korea maintained this particular legal tradition, and aspects of a uniquely Korean brand of Confucianism, until the 19th century. In 1894, the internally induced Kabo Reforms aimed to modernize the whole of Korea in terms of legal and administrative systems, culture, economy, and more (“Emergence of a Modern Society”). The Kabo Reforms resulted in a legal system that closely resembled Japan’s system, which followed a civil legal tradition that was heavily influenced by Germany. Korea’s transformation towards a Japanese civil law system was further intensified and completed when it became a colony of Japan in 1910. Following the defeat of Japan during World War Two, Korea gained its independence in 1945, only for the southern half of the nation to fall under American occupation until 1948, while the northern half was occupied by Soviet Russia (SpringerLink and Yŏn 'guwŏn 5). Now dubbed as South Korea, the

Thesis Statement: Though South Korea may be a small country, the style of cuisine, community culture, and generosity are just a few uniquenesses that outshine its stature.

Bribery can be defined as when one is offered money or some other incentive with the intention to corrupt a person’s actions.¬ Bribery is the main component, if not the basis, of government corruption.

South Koreans cultural dimensions differ largely from the US. According to Hofstede’s models South Koreans cultural dimensions are uncertainty avoidance, collectivist, and long term orientation. The US dimensions include individualism, masculinity, and they have low rankings in uncertainty avoidance, long term orientation and power distance (Hofstede 2009). These differences mean that negotiation factors, communication, leadership techniques and issues such as time must be dealt with differently in these cultures. It shows that greater planning and understanding needs to take place in order to successfully penetrate different regions as they have vastly different values, needs and

This report analyzes the ethical dilemma faced by Jextra’s country manager, Tom Chong, who was responsible for Neighbourhood Markets in Malaysia. Jextra Stores was a Hong Kong based company that operated retail stores in China, Hong Kong, Philippines, Malaysia, Thailand, Singapore, and Vietnam. In 2005, the company successfully entered Malaysia, operating supermarkets under the name of Neighborhood Markets (Inkpen, 2010). Jextra identified a promising site in Klang, near the capital of Kuala Lumpur, to open a new supermarket (Inkpen, 2010). Mr. Chong needs to evaluate a proposal made by the Mayor of Kang, which might be considered bribery. In this case, Mr. Chong faces social and ethical

Six months ago, Antiques R Us (a Canadian corporation) entered into a contract with Yankee Antiques (an American company) to purchase “a desk used by George Washington himself after his retirement from the Presidency”. The sum of $500,000 was to be paid to Yankee Antiques after 30 days of

The broadest, most suitable definition which exists today simply states that corruption is any illegal act performed by a politician to produce results which would have been otherwise impossible (Ebbe). In some cases, government, politicians, and criminals entwine for the sake of amassing money in order to secure their own jobs. This form of corruption was apparent in the mafia’s association with the