Business Law Research Paper Example | Topics and Well Written Essays - 1250 words

Business Law - explore Paper ExampleIn the mid of 1970s, more than 400 companies of US origin having international footprints of were nonrecreational almost more than $300 one thousand million to different groups and individuals such as political parties, major politicians, ministers and the government activity that were holding power (Weiss 6). The renowned accompany, manufacturer of the world renowned fighter jet F-16 had paid effect of foreign countries to show a tendency and preference for their product. In another investigation, it was reported that a famous company actually rewardd the president of a foreign country, Honduras, to offer them discounted tax policy for their trading operations in that country. They give $2.5 million to the countrys president for a tax saving of around $7.5 million and another $750,000 to Italian official for allowing the import of the companys products. When the president of Honduras raised the taxes, the chairman of the company was so de pressed that he committed suicide. These were some important reasons which led to the making of this famous legal philosophy which is now an essential for good corporate governance for any company. The act which was enacted by President prise Carter was further amended in 1988 as the international anti-bribery law. Ethical Standing Ethical behavior is strictly not a global standard at all. In some of the regions of the world, paying a bribe in terms of cash kickbacks and/or other tangible favours is still not considered an ethical or moral issue that can be termed as unlawful rather it is just the cost of doing billet (Howell 1). The question here arises that should the bribe be paid or not. However, with globalization and emerging trade relationships morals and corporate governance are gaining strong grounds. In most of the dividing line schools, the faculty might be educating their future generations with adaptability and ways of working out with the situation. Mostly the reason they give of doing so is as they swear that the entire motive is the bottom line. So the fact that whether any particular businesss ethics should become accustomed to the local environment or become as a standard for its operations around the whole globe becomes a question mark in terms of ethics. Many of the business graduates and young managers give the argument, When in Rome, do as the Romans do. In simple words, we should follow local/ legions countrys practices and assimilate according to their businesses customs if we have to build a successful and sustainable business environment. In Harvard Business School, a termed coined by two leading faculty members of business ethics, Joseph Fletcher and crowd together Adams, was situational ethics, which was based on bendable and realistic approaches towards such complex business dilemmas (George 1). Perhaps, most business tycoons do follow it as well and that is why they have been very successful. The corrupt systems and poli ticians with big wide indeterminate mouths are ready to swallow dollars for each tiny task they can control. Foreign corrupt practices are an umbrella to guide the businesses when they start operating globally. When businessmen talk about the business ethics they typically refer to one of three aspects Keep away from breach the criminal law in their work-related activities full stop away from actions that might result in civil law suits against them or their businesses Avoid any