You are a member of the Canadian Businessmen's Forum. You need to present a summary of the Coltech scandal at an emergency meeting of the Forum. Write a 150-word summary of the scandal and its business implications, using the information below. Violations May Damage Treatyby Emma AnzyExport of Coltech's microfilm products to Tarzania has been suspended pending aninvestigation into charges that the products do not comply with national export regulations.Five customs officials have been charged with accepting bribes to ignore the regulations.While Coltech's managers have denied the claim that they intentionally deceived authoritiesand buyers, local business people are concerned that the scandal will be perceived byTarzania as a lack of goodwill on the part of Canadian business in general.Regulation enforcement officials were alerted to the scheme when they received complaintsfrom their Tarzanian counterparts. "Coltech products are considered to be of superior qualityand as a result are in high demand. However, Coltech has been losing money in recent years.It is quite possible that the poor quality of the products in question was a result of a strategyto reduce this deficit," explains customs officer Steve Delray.Coltech's spokeswoman has declined to comment, but when asked, a former manager said,"In light of the situation, the current management will be expected to step down, and controlof the company will be up for grabs."Dayle Webber, a spokesman for the Tarzanian company, expressed the company's desire tocontinue to do business with Coltech and other Canadian companies. However, he admittedthat such hi-tech products would be subject to higher tariffs in the future. "We have nodispute with Coltech. Despite what has been said, we believe that the Coltech managementwas not involved in deliberately passing off poor quality products, and we intend to continuedoing business with them."Nevertheless, members of the Canadian Businessmen's Forum are concerned that Coltech'sactions will reflect badly on Canadian businesspeople as a whole."We hope that our relationship with the Tarzanians won't be irreparably damaged," saysForum president Allison Tandy. "I have been in continuous contact with them to ensure thatthere has been neither loss of faith nor loss of business."Allegations have been made that Coltech's competitors fabricated the entire scandal in anattempt to put Coltech out of business. In response, Alan Thomas, Marketing Manager forUptech Industries, Coltech's leading competition, said, "No one has plotted against Coltech.They have been caught dealing in bad business practices, and they'Il have to pay the price."

Canadian Business Forum is the forum expanding global partnership between Korea and Canada. The…

You are a member of the Canadian Businessmen's Forum. You need to present a summary of the Coltech scandal at an emergency meeting of the Forum. Write a 150-word summary of the scandal and its business implications, using the information below.

You are a member of the Canadian Businessmen's Forum. You need to present a summary of the Coltech scandal at an emergency meeting of the Forum. Write a 150-word summary of the scandal and its business implications, using the information below.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

Unilever Wall's Ice Cream in Vietnam In April 1996, whers first proposal to set up a partnership with the "Vietnam Milk Corporation" to construct a factory was refused by Vinamilk (the govemmental dairy producing corporation), Unilever received approval from the Ministry of Planning and Investment for a US$22 million to set up its own factory to produce and sell Wall's ice cream in Vietnam. Since economic improvements had begun to increase people's incomes in the early 1990s, ice cream sales in Vietnam's cities had been on the rise. The plant, scheduled to open in early 1997, was to be situated in Cu Chi district, 35 kms north west of Ho Chi Minh City, close to the popular tourist attraction of the Cu Chi tunnels and in an industrial zone attracting an increasing number of foreign investors seeking to avoid high land and labor costs in the city. The factory was to be equipped with the latest production technology and designed to have an initial capacity of some 12 million liters…
Unilever Wall's Ice Cream in Vietnam In April 1996, whers first proposal to set up a partnership with the "Vietnam Milk Corporation" to construct a factory was refused by Vinamilk (the govemmental dairy producing corporation), Unilever received approval from the Ministry of Planning and Investment for a US$22 million to set up its own factory to produce and sell Wall's ice cream in Vietnam. Since economic improvements had begun to increase people's incomes in the early 1990s, ice cream sales in Vietnam's cities had been on the rise. The plant, scheduled to open in early 1997, was to be situated in Cu Chi district, 35 kms north west of Ho Chi Minh City, close to the popular tourist attraction of the Cu Chi tunnels and in an industrial zone attracting an increasing number of foreign investors seeking to avoid high land and labor costs in the city. The factory was to be equipped with the latest production technology and designed to have an initial capacity of some 12 million liters…
Unilever Wall's Ice Cream in Vietnam In April 1996, whers first proposal to set up a partnership with the "Vietnam Milk Corporation" to construct a factory was refused by Vinamilk (the govemmental dairy producing corporation), Unilever received approval from the Ministry of Planning and Investment for a US$22 million to set up its own factory to produce and sell Wall's ice cream in Vietnam. Since economic improvements had begun to increase people's incomes in the early 1990s, ice cream sales in Vietnam's cities had been on the rise. The plant, scheduled to open in early 1997, was to be situated in Cu Chi district, 35 kms north west of Ho Chi Minh City, close to the popular tourist attraction of the Cu Chi tunnels and in an industrial zone attracting an increasing number of foreign investors seeking to avoid high land and labor costs in the city. The factory was to be equipped with the latest production technology and designed to have an initial capacity of some 12 million liters…
Country-X is complaining that country-Z is 'dumping' certain steel commodities on its shore. The price of steel has plummeted by a hefty 30%. Unless immediate action/s are taken, the local manufacturer in the steel industry will go out of business. What are the avenues/ actions that country-X can take?
A company also may face __________ trade barriers, such as biases against its bids, restrictive product stan- dards, or excessive host-country regulations or enforcement a. Non-Tariff b. Challenge c. Business d. Task
Treasury bans Bain and Co. from public sector contracts for a decadeNational Treasury has banned consultancy Bain & Co. from tendering for public sector contracts for a period of 10 years for engaging in "corrupt and fraudulent practices" related to its contract at the SA Revenue Service (SARS).The ban will run from 5 September 2022 until 4 September 2032."This restriction has been published on the National Treasury website and database for restricted suppliers. The restriction will apply to any other contract for services awarded to Bain & Co in the public sector."Treasury said it was, in collaboration with SARS, "in the process of restricting Bain & Co, South African Directors through a phased approach".The decision to ban the company comes seven weeks after the UK government banned it from competing for state contracts for three years. Analyse any two sources of managerial stress applicable to Bain and Company.
Treasury bans Bain and Co. from public sector contracts for a decadeNational Treasury has banned consultancy Bain & Co. from tendering for public sector contracts for a period of 10 years for engaging in "corrupt and fraudulent practices" related to its contract at the SA Revenue Service (SARS).The ban will run from 5 September 2022 until 4 September 2032."This restriction has been published on the National Treasury website and database for restricted suppliers. The restriction will apply to any other contract for services awarded to Bain & Co in the public sector."Treasury said it was, in collaboration with SARS, "in the process of restricting Bain & Co, South African Directors through a phased approach".The decision to ban the company comes seven weeks after the UK government banned it from competing for state contracts for three years. With a relevant example, explain uncertain decision-making conditions with application to Bain and Company. Discuss the growing…
Treasury bans Bain and Co. from public sector contracts for a decadeNational Treasury has banned consultancy Bain & Co. from tendering for public sector contracts for a period of 10 years for engaging in "corrupt and fraudulent practices" related to its contract at the SA Revenue Service (SARS).The ban will run from 5 September 2022 until 4 September 2032."This restriction has been published on the National Treasury website and database for restricted suppliers. The restriction will apply to any other contract for services awarded to Bain & Co in the public sector."Treasury said it was, in collaboration with SARS, "in the process of restricting Bain & Co, South African Directors through a phased approach".The decision to ban the company comes seven weeks after the UK government banned it from competing for state contracts for three years. Discuss the growing importance of intellectual capital and learning for a consulting firm such as Bain and Company.
Treasury bans Bain and Co. from public sector contracts for a decadeNational Treasury has banned consultancy Bain & Co. from tendering for public sector contracts for a period of 10 years for engaging in "corrupt and fraudulent practices" related to its contract at the SA Revenue Service (SARS).The ban will run from 5 September 2022 until 4 September 2032."This restriction has been published on the National Treasury website and database for restricted suppliers. The restriction will apply to any other contract for services awarded to Bain & Co in the public sector."Treasury said it was, in collaboration with SARS, "in the process of restricting Bain & Co, South African Directors through a phased approach".The decision to ban the company comes seven weeks after the UK government banned it from competing for state contracts for three years. With a relevant example, explain uncertain decision-making conditions with application to Bain and Company.
Treasury bans Bain and Co. from public sector contracts for a decadeNational Treasury has banned consultancy Bain & Co. from tendering for public sector contracts for a period of 10 years for engaging in "corrupt and fraudulent practices" related to its contract at the SA Revenue Service (SARS).The ban will run from 5 September 2022 until 4 September 2032."This restriction has been published on the National Treasury website and database for restricted suppliers. The restriction will apply to any other contract for services awarded to Bain & Co in the public sector."Treasury said it was, in collaboration with SARS, "in the process of restricting Bain & Co, South African Directors through a phased approach".The decision to ban the company comes seven weeks after the UK government banned it from competing for state contracts for three years. With application to managers at Bain and Company, discuss the importance of technical skills. please as
Treasury bans Bain and Co. from public sector contracts for a decadeNational Treasury has banned consultancy Bain & Co. from tendering for public sector contracts for a period of 10 years for engaging in "corrupt and fraudulent practices" related to its contract at the SA Revenue Service (SARS).The ban will run from 5 September 2022 until 4 September 2032."This restriction has been published on the National Treasury website and database for restricted suppliers. The restriction will apply to any other contract for services awarded to Bain & Co in the public sector."Treasury said it was, in collaboration with SARS, "in the process of restricting Bain & Co, South African Directors through a phased approach".The decision to ban the company comes seven weeks after the UK government banned it from competing for state contracts for three years. Explain the relevance of transformational leadership within the context of recent developments at Bain and Company. Structure your answer…
Treasury bans Bain and Co. from public sector contracts for a decadeNational Treasury has banned consultancy Bain & Co. from tendering for public sector contracts for a period of 10 years for engaging in "corrupt and fraudulent practices" related to its contract at the SA Revenue Service (SARS).The ban will run from 5 September 2022 until 4 September 2032."This restriction has been published on the National Treasury website and database for restricted suppliers. The restriction will apply to any other contract for services awarded to Bain & Co in the public sector."Treasury said it was, in collaboration with SARS, "in the process of restricting Bain & Co, South African Directors through a phased approach".The decision to ban the company comes seven weeks after the UK government banned it from competing for state contracts for three years. With application to managers at Bain and Company, discuss the importance of technical skills.