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The Effect Of Unethical Methods In The Corparate World

1459 words - 6 pages

Corporate wrong doing in the United States helped in the collapsed of numerous corporations as it was the case that happened in 2002 with Enron and others. Currently, there are many people who are hesitant to trust in anything they might hear regarding the integrity of certain corporations. In 2002, we experienced what happened when corporate integrity gets ignore. The American people lived through a scandal that rock our nation economic with companies like Enron and WorldCom to include other, as being responsible for their employee disregarding corporate integrity by their CEOs and greeted executive’s decisions. The American people feel that corporations benefitted from a broken down system that neglected to ensure all businesses maintain good corporate integrity and the government to holds them accountable for their wrongdoing.
The general public here in America continued to believe that during the dark times of the Enron disaster, the government did little to punish those who were making those unethical decision and that the system was bamboozled by certain corporate executives; those who did their bidding at the expenditure of investors. It is necessary and important that our society maintained corporate integrity in check or we could endure more company’s meltdowns or we could suffer again from those executives who are greeted.

In the past 25 or 30 years, businesses in America have grown significantly in power and magnitude. Globalization has changed the way corporations do business and also have remain an endless discussion for those who see it as good or bad for corporate world. Large corporations like the retail store Walmart have turn out to be an enormous and dominating global organization. According to Moran, J. J. (2014), the North American Free Trade also known as NAFTA and the General Agreement on Tariffs and Trade know as GATT have indeed done wonders for international companies by allowing them to inexpensive labor and natural resources throughout the globe. (p. 423). When corporations do business in a foreign country as allowed by trade agreements, corporate integrity becomes irrelevant; especially when inexpensive labor practices from time to time causes exploitation of workers.
Often managers get pressured to take unethical methods in order to generate higher returns for the stockholders. Corrupt decisions are often taken by companies’ executive officials or supervisors due to the pressure they faced when expected to produced extra profits. However, there are guidelines that have been passed to prevent companies from doing business overseas that conduct unlawful activity. In an article written by Sam Kessler for, he stated that the United States congress passed the Foreign Corrupt Practices Act (FCPA) in 1977 to prevent the use of bribery and conflicts of interest when American companies were doing commerce abroad. (n. p). It also expected that those American companies doing business abroad are held...

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