LEGAL ENVIRONMENT PAPER Essay Example | Topics and Well Written Essays - 3000 words

LEGAL environment PAPER - Essay ExampleFor example, paying a government functionary in the home unpolished a tip in order to facilitate licensing can be interpreted as bribery and subject to legal consequences or sanctions. In many outside(prenominal) countries such payments are standard procedures of facilitating and expediting work, and mishap to conform to such practices can often produce costly delays and probably significant losses.When there is a conflict between practices abroad and ethical and legal norms in the home country, the question that can break is whether one should impose ones ethical standard and values in a foreign country. Shouldnt firms acknowledge ethical deviations for the sake of cultural sensitivity so as to avoid pique the officials and residents of the host country in the course of conducting its business?But first before going notwithstanding let us attempt to define some terms and perhaps illustrate some elemental concepts. The situation describ ed above gives rise to some questions about corruption and bribery. Corruption, as defined by Joseph Nye more than 30 years ago, refers to the misuse of authority or a position of authority for some self-interested purpose (Nichols, P.M. (1997). And self-interest is not limited to pecuniary gain but may also take enhanced status, earns to family and social circle, or any other perceived benefit.A bribe is a movement which occurs when a good or service is transferred across a technologically separable boundary. (ibid). In bribery, the parties flip-flop benefits in an extra-legal setting, and, in most cases, the benefits conferred by the bribe giver is a quid pro quo for the benefit expected by the bribe giver.. The benefit may be anything of value to the bribe taker, made in the expectation of preferential treatment.From the economic and utilitarian perspective, bribery is objectionable because it distorts markets and