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The Bribery Scandal at Siemens Ag Evaluation

The Bribery Scandal in Siemens AKTIENGESELLSCHAFT Analysis

The case discusses the bribery scandals that were unearthed at Siemens AG in 2006 and 3 years ago. There were several scandals that involved a few of the company's workers bribing international officials to achieve contracts and creating slush funds for this specific purpose. Siemens opted for pay €1 billion to settlement of corruption expenses $800 mil of which was obviously a fine made by U. S. as well as the billions of pound paid in fines, again taxes and late curiosity. There are many businesses were resorting to illegal repayments to get international legal agreements especially in some emerging economies where the practice was common in order to elevating competition. Using this case, we can see Siemens employee who is ready to break what the law states in order to gain revenue, compare to the punishment, it is definitely worth to perform. But it problems their status and internal control. Favorable comments is a worth for a company, so continue to keep well the reputation is definitely increase the income. In this case, person employees were responsible for illicit payments that were made with no approval the top management. I do believe a company should certainly acknowledge their insufficient and it would take sufficient procedure for become a model of corporate governance and visibility. Also the organization can retain the services of the outside professional and teaching their workers at the suitable level in the company. Many companies must cope with the stresses of doing organization in a legal environment new to their representatives when they do business internationally which can be what I think is at the cardiovascular system of this case. It could be really hard do businesses in a different culture act country, the business enterprise model and method has to be quite different. The simplest way is familiar their culture and ethics and make sure you were performing in the manner that was legal in the country. Also set up some international regulating body and regulate some rules for any business works within these basic...

26.08.2019

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