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Corruption and Business Ethics

In: Business and Management

Submitted By sarkar
Words 5202
Pages 21
Business ethics relating to Corruption
Chapter 1
Introduction: What Corruption is and Why it Matters?
People everywhere are more concerned than they ever have been about corruption and business ethics. This represents social changes that are occurring everywhere, though to different degrees. Partly this may be due to the pioneering efforts of the organization transparency International, which has not only spearheaded the fight against corruption, but has made it possible to gauge and compare corruption across countries. Partly, it may be due to the plethora of scandals and company collapses that was experienced at the end of the 1990s and in the early 2000s. it may also be due to changes in the demographics of investors. Today the worker is also the capitalist, and the largest investors, institutional investors, are protecting the common person’s pension savings, insurance funds, etc. it may also be due to globalization.
Globalization has expanded communication and the flow of information among ever widening circles of people, some of whose interests conflict with those of the private sector, and those adversely affected have organized themselves in a variety of ways to express their discontent. Globalization has forced like-minded western capitalists to interact with their counterparts in lower-income countries, where interpretations of trust, reciprocity, honesty, and social engagement may differ. Finally, Globalization has created visible, open clashes among private actors, public officials, individuals, and organized groups at an unprecedented level and pace. Public awareness has risen through the efforts of NGOs, international agencies, and scandals in the media. This awareness, combined with the changing definition of ‘capitalist’ and globalization, contributes to a new consciousness concerning corruption.
Today companies do not...

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