The tenth chapter focuses on bribery and looks at the different schemes being used by many people in engaging in corruption activities. The bribery in question looks at things like the invoice kickbacks that are done by company employees and even executives. Bid rigging is also another bribery method that is been implemented by many companies around the world. Such bribery entails having fraudsters who are paid in order to perform the exercise and this influences the decision to be corrupt. All this is done on behalf of a third party individual who does not want to be identified in the whole process. The business environment of today lacks ethical standards and this has resulted in many companies engaging in corrupt deals that lead to them winning a tender. Such are the things brought to light in this chapter that show the corrupt levels that the business world is facing. In all these activities, business people are looking for deals that have value in terms of investing their time, money and resources. As such, they are willing to go that extra mile if it means that they will get something of value from the engagements.
The chapter also looks at the illegal gratuities. It is important for readers to understand the difference between bribery and illegal gratuity. Such knowledge comes in handy especially when determining whether the payments made constitute a violation of the anti-bribery provisions in place. For the anti-bribery provision, it is stated that illegal gratuity is not prohibited. Hence, illegal gratuity relates to giving an individual something of value in terms of promises or offers. This is done in order to influence an action that should be made by an individual in discharging their legal or public duties. Such rewards are present in the business environment and have been exposed by Joseph Wells.
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Towards the end, Joseph looks at how to detect such forms of bribery in the business environment. Moreover, he illustrates of the prevention measures that need to be taken in order to reduce the economic extortion that has seen many businesses close shop. Bribery is an activity that needs to be discouraged because it reduces and undermines the role of business in our societies.
Chapter 11 of the book looks at Conflicts of Interest where the author defines what it means to have a conflict of interest. In most cases, these interests are not in line with that of the business because an employee, manager and even an executive person are after their own self-interests. As such, transactions made are for their personal gain, which affects the smooth running of organizations. For such activities to be possible, schemes are involved that involve the exertion of an organization’s employee who has an influence in bringing down the company. In such dealings, the deal is performed by the employee. Thus, conflict cases arise when a fraudster has an undisclosed economic interest in the whole transaction. Nonetheless, the interests of the fraudster are not necessarily with economic value because they have hidden agendas.
The different schemes employed by the employees include purchase, sales and other schemes that fulfill their own interests. These schemes are present in most companies and need to be stopped because it reduces the worth of the business. Moreover, such corrupt deals lead to having unethical practices that ruin the reputation of any given company. It is also important to note that detection is possible because these individuals become too greedy and request for things that are out of the company’s norm. Hence, detection is possible and prevention can be done to stop the company from facing the shame of closing down.
