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Transcript of Ethics: Bribery
What is Bribery?
Bribe: Something valuable (such as money) that is given in exchange for a favor or promise
Corrupt business practices
Increase in organized crime
Prohibits growth in economically developing countries
Bribes are bad for business
Bribes in business and beyond
Bribery can be found in business but also in personal life and in politics.
We will be talking about several instances of bribery involving businesses and politics
Avon and China
Former CEO of Avon, Andrea Jung, was accused of paying off Chinese government officials during an aggressive expansion in the country in 2013.
Avon was slapped with a $12 million fine
Andrea Jung lost her position after being CEO for 13 years
22% decrease in Avon's stock
16% decrease in signing on new employees: "Avon Ladies"
Avon is not alone in trying to advance by paying off foreign governments. Many other companies such as Walmart and Johnson & Johnson have done the same.
This act is not only illegal but unethical due to the ramifications of corrupt practices.
Ethics of the Avon Scandal
Is this ethical?
"Between January 2013 and February 2014, Cannon allegedly accepted from the undercover agents over $48,000 in cash, airline tickets, a hotel room, and use of a luxury apartment in exchange for the use of his official position."
U.S House of Representatives
William Jennings "Bill" Jefferson, is a former American politician from the U.S. state of Louisiana. He served as a member of the U.S. House of Representatives for nine terms from 1991 to 2009 as a member of the Democratic Party. He represented Louisiana's 2nd congressional district, which includes much of the greater New Orleans area. He was Louisiana's first black congressman since the end of Reconstruction.
On November 13, 2009, Jefferson was sentenced to thirteen years in federal prison for bribery after a corruption investigation, the longest sentence ever handed down to a congressman for bribery or any other crime. He began serving that sentence in May 2012 at a Federal Bureau of Prisons facility in Beaumont, Texas
Walmart's bribery case in 2013
Walmart has been accused of several cases of scandals over the past few decades, although not so long ago some of Walmart's top executives were accused of forms of bribery in Mexico.
"Save Money. Live Better"
About 30 of Walmart's top executives were represented during this case as the Department of Justice investigated whether or not Walmart had in fact exchanged bribes with the Mexican government in order to receive the permits to open new stores in Mexico.
This is the year Walmart was created 52 years ago, and now today we have twice as many stores versus Mexico.
Although not until 1991 did Walmart go international by creating it's first international store in Mexico. In less than 24 years Walmart has exceeded the number of stores in the U.S by a little over 1,500 stores with a total of 6,148 international stores.
Permits that would normally take companies months, some even years to receive. Walmart has been shown to have receive them in weeks. This is how Walmart has been able to expand at such a rapid pace.
Why is it unethical?
Here is a brief video discussing Walmart's bribery scandal in Mexico.
Bribery in Politics
High government official are not exempt from falling into the trap of easy money like a bribe.
The bribery law at 18 U.S.C 201 b, it is illegal for any governmental official to receive a gift for the exchange in return of any influential act.
Why do they still do it? is it ambition or they think they can get away with it?
Latest bribery scandals by U.S officials
Senator Leland Lee is currently suspended from duties for pending accusations of bribery, corruption and gun running.
Corporations need to comply with their code of ethics
Top management and executives need to train their employees and make them aware about global business.
Any violator need to be accountable and responsible for unethical behavior.
Government officials must behave ethically at all times.
Bribery is unethical, but people continue to take part in it. They are willing to take the risk to get ahead. However, it is getting much more difficult to get away with.
Don't use bribes to get ahead in business or life because it will only lead to losing everything.