Paying foreign officials for expediting legal processes or obtaining contracts was a common business practice around the world well into the s. In , the Watergate scandal, that ultimately caused Richard Nixon's resignation as president, brought corporate bribery into the spotlight. Department of Justice DoJ began investigating the sources of Nixon's illegal campaign contributions and discovered that hundreds of U. That hasn't stopped some companies from continuing the practice.
Siemens Bribery Case
(PDF) Bribery | Nicholas Lord - zazoom.info
According to legal and ethics experts at Wharton and elsewhere, the Wal-Mart case raises broader questions about how multinational companies conduct business in foreign countries. Is the practice of bribing public officials ever justifiable from an economic or ethical point of view? And apart from collapsing share prices and shareholder lawsuits, what are some of the other possible consequences of bribing foreign officials? Despite the hoopla surrounding the Wal-Mart case, corporate bribery of public officials remains an all too common practice in many countries around the world, according to the most recent annual report by Transparency International TI , a Berlin, Germany-based nonprofit with more than chapters around the world.
The Biggest Bribery Cases In Modern Business History
Siemens AG is one of the largest and most popular electrical engineering companies operated in the world. The present company was founded in in Berlin and is now headquartered in Munich, Germany. The discussion and the proper analysis of this bribery scandal will help to learn many effective lessons.
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