Business and international bribery Research Paper

Business and international bribery - Research Paper Example An example of a business that was subjected to a legal prosecution is Weatherford International Ltd. From 2004 to 2011, as a multinational organization, Weatherford International Ltd indulged with internal controls violations. Though Weatherford International Ltd operated in Angola and Iraq, court documents did not make specifications on the country wherein the vice took place. Weatherford International Ltd. Among many things did not: institute effective internal accounting controls; have a committed compliance officer; conduct anti-corruption training; and create a system for investigating ethics violations reports. Weatherford International Ltd. Employees also bribed a foreign official to see a renewal of a contract go through. In the case, U.S. v. Weatherford International Ltd., Weatherford International Ltd. was made to pay a penalty of USD 87,178,256. The case gave rise to the case law U.S. v. Weatherford International Ltd., No. 13-cr-733 (S.D. Tex. 2013) (Baughn, 19 & Pacini, 5 45). According to Lane and Simpson, There are indicators that attest to the adding power of the FCPA Act and the legal proscription of bribery by US multinationals. One of the values that the FCPA Act brings is its ability to rein in corruption and to protect meritocratic capitalism. The crux of the matter herein is that corruption [which bribery is a form of] undermines meritocratic capitalism by un-evening the playing field; subverting proper and legitimate functions of institutions; and encouraging or furthering the misallocation of economic resources. Again, according to the World Bank, corruption slows down the rate of an affected country by 0.5% to 1% annually and increases a marginal tax rate and clumps positive effects on inward investment (Lane and Simpson, 40). An example of an organization that has found corporate bribery in foreign land expediency is Siemens. In 2008, Siemens had to pay 1.6 billion USD as legal settlement to European and American

Logistics - Transport and Inventory Essay Example | Topics and Well Written Essays - 3000 words

Logistics - Transport and Inventory - Essay Example However, with the advent of technology, the complexity of logistics has been greatly reduced (Ault, 2003). There has recently been development of requisite simulation software to handle the complications involved. Inventory (also known as stock) is the name used to refer to the materials and goods a business establishment keeps to ultimately resell (or repair). Inventory management as a science is concerned with the specific percentage amount of goods in stock, along with their shape. It may be required at various locations in a facility or in different locations of one supply network (Button, 2011). Factors to consider in this field involve replenishment time, available inventory space, carrying costs, management of assets, forecasting and valuation of inventory, inventory visibility, physical inventory, future forecasting of inventory prices, quality management, defective goods, replenishment and returns. It is necessary to balance these requirements for the business establishment to run optimally. An establishment set aside for the storage of such goods is known as a warehouse (Montano, 2004). Warehouses can be used by manufacturers, wholesalers, importers, exporters, customs, transport businesses, etc. For many years, storage and retrieval of goods from warehouses has been physically done and controlled. This means that a great deal of human resource has been used. This has led to delays, more expenses along with common preventable human mistakes. With this in mind, most major business establishments have nowadays put in place an automated storage and retrieval systems (ASRS). These systems are computer-controlled and they place and retrieve loads from particular defined locations (Eden, 2002). Such systems were formally applicable to many business facilities that produce large scale goods. With time, however, the size of goods has slowly grown smaller. It is now easier to install