Question

Business Ethics---->

Corruption involves the misuse of power in the form of money or authority to achieve certain goals in illegal, dishonest, or unfair ways. Corruption affects many aspects of life quality.

Discuss what impacts corruption has for:

a.) Developed countries.

b.) Regional and city location decisions for business.

c.) Quality of life in developed countries.

Answer 1

Corruption has a lot of bad or negative impacts on business, governance, growth, development , quality of life and other aspects of day to day business operations. Now , we shall discuss the following headings:

a) Developed countries:

Such countries believe in getting business opportunities or any other favor on international forum by the sake of bribery , corporate lobbying and many other aspects which is illegal or unethical in the sense.

b.) Regional and city location decisions for business:

Mostly, corporate people gives bribery to government sanctioning authorities. It gives them a place of their choice or many times , people destroy the lives of tribals or marginalized. Generally, people ignore environmental concerns while choosing a business location.

c.) Quality of life in developed countries:

Corruption contributes to a higher cost of life in the developed countries. In the name of development, corporate companies, private contractors, lobbyists, law makers and other political parties play the game of monetary exchange. Developed countries acquire different goods from other countries too and here middle men might work better. In this channel, people take their pie and ultimately it increases the cost of production. In this way, people again pay more than they should suppose to pay.