STRAITS is committed to conduct its business ethically and in compliance with all applicable laws and regulations in the countries where it does business in. Both companies and employees are more comfortable when there is a uniform code to follow (Jennings, 2015, pg. Globally, it is a common practice for employees, managers, and other people involved in a business to offer money or gifts to potential clients for the purpose of securing their business. Mining operations can be located in politically unstable countries. What you can expect from us: We will not participate in any form of corrupt behaviour, either directly or indirectly, anywhere in the world. “Public engagement in the fight against corruption will force those in authority to act—and will give people further courage to speak out and stand up for a cleaner, more transparent world.”. Our seventh business ethics debate in Paris focused on the challenges French companies are facing to comply with the French anti-bribery law, Sapin II. Unless companies ‘conform’ to such practices, in many cases, international business cannot be transacted. It assigns a CPI (Corruption Perceptions Index) rating to each country. Cultures that have a higher tolerance for ambiguity, as this module discusses, may find it easier to navigate the gray areas of ethics—when it is not so clear. Taking gifts for the sake of profiting the vendor. Companies must be aware of ethical standards and acceptable behavior. In order to promote a culture of ethics and integrity, as well as, to comply with all applicable anti-corruption anti-bribery laws and regulations, Sanofi has implemented a comprehensive set of policies and standards defining clear rules that must be complied with by all Sanofi … Lapses involving bribery, corruption and fraud remain the most commonly mentioned business ethics concerns in the news By Sabrina Basran, Researcher, Institute of Business Ethics Views on corruption were most negative in Western Europe and North America, where 73 percent and 67 percent of people, respectively, thought corruption had increased over the last three years. Bribery and corruption and then lastly customer fraud,” he said. Detecting bribery and at the same time keeping clean financial records is not easy, yet a smart, prudent small import/export business owner should be establishing checkpoints that prohibit bribery every step of the import/export journey. Is bribery acceptable in those places? It creates a huge distortion in the appropriation of human and financial resources to ineffective uses. These practices affect the way international business is regularly conducted. Of the four articles, three are scholarly peer-reviewed journal articles and one, by Friedman, is an online periodical. The ethical concerns include corruption, bribery, human rights issues among many others. Bribery and corruption are commonly though of in relation to politics and governmental corruption. Bribery, corruption and facilitation payments were the most commonly reported issues recorded by the Institute of Business Ethics' media monitoring during 2013. Corruption is “giving or obtaining advantage through means which are illegitimate, immoral, and/or inconsistent with one’s duty or the rights of others.”. Poorer people are twice as likely to pay bribes for basic services, such as education, than wealthier people. 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