Fraud, Murder and Bribery Essay Example | Topics and Well Written Essays - 500 words

Fraud, Murder and Bribery - Essay Example The other fundamental questions have been should American firms engage in these practices while in business abroad? This is because firms’ ability to effectively compete in the global economy has been affected mainly by these unethical practices. It is not proper to engage in unethical business practices even if a firm is in countries where their practices are tolerated. Ethical decision-making is important to the success of any Company. Some business decisions are easy and obvious to make; others are not. When a firm is faced with a tough situation, asking various operational questions can help them make the correct ethical decisions. Likewise, it is essential for firms to obey the spirit and letter of the laws within and out of the country at all times. Furthermore, wherever they live or work, they should respect the values that are ethical to protect their reputation both at home and abroad. Every country where they operate or do business has their own laws, regulations, and culture. Many times there are significant deviations from one place to another or between regions. However, no matter where a firm works, they sho, and be all responsible for respecting all applicable laws and do business in the most ethical manner. However, firms in America are not allowed by law to engage in these unethical practices. Despite the desire of a particular firm to engage in such practices, they are prohibited by the law. It is in public domain that the United States firms, unlike in many other countries around the world, has to contend with the Foreign Corrupt Practices Act (FCPA) of 1977 that tries to address the issue of unethical business practices such as bribery for U.S. companies (Loughman & Sibery,2012).