The Bribery Scandal at Siemens AG Case Study Example | Topics and Well Written Essays - 1750 words

The Bribery Scandal at Siemens AG - Case Study Example Basically, the bribery scandal at Siemens critically demonstrates how employees were involved with unethical behaviours, which led to an irrevocable damage to the company’s reputation and the ultimate profitability and success (Marsh, 2007). Founded in 1847, the company made their listing in the New York Stock Exchange in 2001, where they were rated as the most efficient and profitable company. Never the less, the business world fell in 2006 when around 30 Siemens’ offices and private homes were raided based on the notion of bribery, fund embezzlement, and evasion of taxes, a raid that led to the uncover of what is said to be the world’s largest corporate bribery scandals. It was evident that Siemens had involved itself in bribery and other related business malpractices. In essence, three main issues focus on failure of employees to hold fast on the ethical standards in relation to personal communication and cross cultural business relationships. First, the lack of cultural sensitivity, over and above, unfamiliar global practises greatly contributed to an abundant environment in which exploitation and manipulation of other companies was witnessed. Second, short time focus on making the deal through contract negotiation, and special bribes pulled out poor decision process from the managers of the company. In addition, there was lack of accountability, compliance, and transparency by management, a situation that permitted Siemens’ employees to involve themselves in fraudulent behaviour (Sims, 2007). Ethical Contemplation According to utilitarian approach on ethical matters actions are right once they achieve maximum good for maximum number of peo ple. Although not all people will be favoured by the decision made, the overall is that everyone will be in a better position as compared to the previous situation. Needless to mention, that the act of bribery at the time seemed to be a cost effective issue as the company was able to secure some of the important contracts through the use of bribery that acted as the fraction of the monetary funds that the company expected in relation to the whole deal. Of important to note is that, there was dire need to keep the company in business and the use of bribery facilitated it survival, over and above been able to continue with their operations and provide of the society in term of social responsibility, employment opportunities, as well as, paying taxes (Thiel, 2007). Conversely, Siemens AG bribery scandal has a permanent impact on the owners and or shareholders and the company itself which may not be easily realised. In essence, the reputation and credibility of the company would be comp romised a situation that

4_11 Assignment Example | Topics and Well Written Essays - 750 words

4_11 - Assignment Example In realization of these, players in various sectors have to keep pace with the rising competition to give their consumers the best experience so as to remain relevant; otherwise, they face the danger of being faced out. The healthcare sector is one of the sectors where competition is common and helpful. The beneficiaries of competition in healthcare are the patient whose needs are met to the best of their expectations. This paper examines how various organizations in the healthcare sector are coping with competition. It will look into measures taken by these organizations so as to remain more competitive, and also on how they seek to offer the best experience to their customers. A research by The Heritage Foundation on Competitive Markets in Healthcare ‘The Next Revolution’ shows that competition in healthcare offers patients greater quality, more options, and lower costs. The research, conducted in the US, discusses several ways that the US government has over time tried to make its healthcare more competitive. One of the ways its federal and state lawmakers came up with was to instill competition, and make the industry operate like a traditional market. The study establishes that previous measures to make its healthcare more competitive had not yielded the expected results of financial gain. It takes the example of 2012, when the Director of the Congressional Budget Office (CBO), Douglas Elmendorf, turned down the proposal of a competition-based Medicare Premium Support Proposal. His explanation to the House Budget Committee (HBC) was that, based on the evidence of previous measures to enhance competition, there was no quantitative proof of i ts benefits. However, this study differs with Elmendorf’s assertion by explaining various instances where competition in healthcare has proven gainful. One of the fields where the research found competition to be beneficial is the utilization of care. The research depicts a perfect example of the