Bribery refers to the act of taking or giving a bribe. Increased international trade leads to business transactions between nations and societies have unalike norms and conventions regarding bribery. Bribery may not only be defined explicitly by the act of giving or taking bribe but also the willingness of international firms or their representatives to offer bribe (Cuervo-Cazurra, 2016) . This paper discusses the role of bribe in international business and how the U.S executives are advantaged by the Foreign Corrupt Practice Act. Bribery is a bad practice in both domestic and international business that it should be condemned strongly and its’ proprietors be prosecuted.
In international business firms compete for multimillion tenders and contracts. In order for some companies to be favored, bribes are secretly involved to secure these tenders and contracts. Bribery distorts national economies (especially those of developing nations), undermines the accountability and democracy of independent institutions, and unfairly disadvantages business firms that are not willing to pay bribes (Tomlinson, 2016) . Anti- bribery initiatives are being developed by the Organization for Economic Co-operation and Development (OECD) and the Organization of American States (OAS) but the most important part is the implementation of these initiatives.
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The US executives are really disadvantaged by the Foreign Corrupt Practice Act in various ways. The act gives Chinese corporations a competitive advantage over those in US therefore creating unleveled playing field in international business. The act also does not acknowledge local business practices and its definitions are vague. The act also requires that American firms must police their partners. This implies that a lot of paper work is involved. Last but not least the act outlines that ignorance of the law in no excuse.
In conclusion, bribery is a vice that affects both international and international business. Different nations have different norms and laws that regulate bribery and corruption and this makes it difficult to eradicate bribery in international business.
References
Cuervo-Cazurra. (2016). Corruption in international business . New York: Journal of World Business.
Tomlinson, B. a. (2016). Crime and corruption in organizations: Why it occurs and what to do about it. London: CRC Press.
