Question

Read the following scenario: You are involved in negotiating an important business deal in a foreign country. Paying bribes in this country is not considered unethical, and is considered to be a normal part of doing business. The success or failure of the deal hinges on whether you pay a local government official to help consummate the deal. Will you authorize the payment? Assume that the form of payment is such that you do not expect to be caught or punished. For example, your company agrees to purchase supplies from a family member of the government official at a price slightly above the competitive price. Can you see the pitfalls related to such a deal?

Pick a specific question listed and post your response.

• Identify the Stakeholders
• List and describe proposed actions and the consequences
• List and describe alternative actions and the consequences
• What are the potential benefits or harms for each proposed action
• How do the actions measure up against moral principles like honest, fairness, equality, respecting the dignity of others, people’s rights?

Answer 1

Before going in deep let's get the information on how the trade can be possible.

Here, the stakeholders are approving authority, government entries, and the local players those who are associated with the market of such business role.

The proposed actions will be as follows we will first check the legal requirement of the business set up then will check the government authority through which the approval can be taken also the other approval authority which are locally active, other law and order approval for operating business abroad,

the consequences of this will be higher price initially will have compete with local competitive market, and the local bribe officers whom can ask for the money, so this will be considering factor which affect along with requirement to develop the demand of the business.

The alternative solution for this business can be, switching of country wherein there will be ease in getting and taking the government approval without any bribe to anyone and try to get the product on cheaper rate or on wholesale rate which can reduce the operating expenses of doing business and margin can be increased by doing so which will ultimately set up the business in the new market and new opportunities can be explored.

The potential benefits and harms can be if be try to get the license of doing business in bribed law where everything can be sought with bribe one easily get anything and the chances of getting the fraud will increase as someone will come one-day and by offering high bribe amount one can easily get everything what that want in.

Wherein if we will get in the country where everything will be driven through law then initially may be the case we may face challenge in getting business activate but once the business will get start then there will not be much issue in terms of doing the business.

The final question is must to understand where the measurements are based on the honesty, fairness, dignity, one should always consider the honesty while entering or starting any business or any activity this will lead to give the confidence to an individual for nothing wrong can be done in the steps which will be followed by an individual or by an entity.

This will also build the level of efficiency, morally driven, and the dignity in the family as well as the person working along with you as a team or a family.

By working passionately with honesty will always returns a handsome returns in a long run in business or in any relation...!!!