Part 1 of 2 : What is you view of international initiatives to criminalize forei
ID: 344760 • Letter: P
Question
Part 1 of 2: What is you view of international initiatives to criminalize foreign bribery? Explain your answer and please conduct research to support your findings, citing at least one resource in APA format.
Research Starters: (international business enterprises AND corruption; global AND prevention AND corruption)
Part 2 of 2: Beyond checklists and systemic analysis, what actions can MNEs take to reduce risks related to terrorism? What roles can HRM take in these processes? Please conduct research to support your answer, citing at least one resource in APA format.
Explanation / Answer
Bribery involves paying someone to use his or her position and power to do something favorable, in order to give undue advantage to someone. Bribery is clearly unethical and illegal. All countries try to combat bribery in any global business as it destroys the harmony among the nations and disrupts the ease of doing business globally. The United States has launched many anti-bribery initiatives. The US has been a staunch supporter of anti-bribery initiatives and has enacted a law, specifically to combat international bribery incidents. That law is Foreign Corrupt Practices Act of 1977.
This law prohibits all firms and companies of USA as well as citizens having American nationality to get involved in any kind of international bribery. The OECD is drafting a global convention whose participant countries would criminalize international bribery in their respective business climate.
To combat any kind of terrorism, MNEs need to keep an eye on incidents like industrial espionage and sabotages. MNEs should clearly monitor the business entry and exit policies of the host country, where they are doing business. The HRM as well as the legal department must adhere to all legal compliances. International security standards must be maintained in every process of global business. Security standards must be audited and reformed regularly in order to keep all systems updated and prepared.