Assessment3 of business future
Manager and business leaders are subject to increased risks that are associated with corruption and other bribery charges increasing. Since the economic crisis happened, there has grown a higher demand for a greater integrity, openness and transparency need especially dealing with the legislation that surrounds the globe mainly in countries like Canada, Brazil, China and Australia. The countries meeting have developed new strategies to make sure that they deal with corruption and bribery charges that face the many companies who fail to take a stand on corruption allegations. There is the need to set up new laws that will govern the policies that have existed for years dealing with corruption charges. Sic problem are present not only in Latin American countries but present in some of the most developed nations in the world. A modern country like Australia has begun strategic campaigns in their efforts to fight corruption. The aim of this essay is dealing with three main questions that deal with Australia and its stand towards corruption. The essay will also help top evaluate the moral stand of one organization known as BHP highlighting its position towards corrupt practices and aim to achieve a sustainable international business perspire (Dietz et al., 2012). The research conducted needs to demonstrate the ability to understand and incorporate ideas from academic journals to deal with corruption and ethical responsibility.
BHP was hit with a $US25m penalty over company allegations with dealing with corruption charges. The charges included the ones mentioned from the shady foreign governments mainly in the 2008 Olympic Games in Beijing. The management agreed to the allegations, but neither admitted nor denied the allegations. The company did decide however to pay for the $US25 million to settle the charges violated in the antibribery and corruption laws. The idea for the business to manage the crisis in such a way proves how resilient they were showing diligence through paying the hefty fine charged and continued with their normal activities. The idea behind the settlement change shows how they chose to resolve the charges through Securities and Exchange Commission hence the company did not accept the corruption charges. The company went ahead to host various seminars for government organizations and private entities. The seminars also presented the officials that were directly involved with settlement deal that led to the corruption allegations.
The evaluation of the BHP’s moral stand is necessary since it is from a sustainable business perspective. Environmental, social and financial demands require coordination and management of such aspects requires efficient and effective management is relevant to business sustainability while other researchers term it as corporate sustainability. The purpose of the above concepts is ensuring that there is responsibility, ethical and the ongoing success needs to be understood in a broader context. Relevant research shows that the three top pillars of sustainability are demands related to social, environmental and economic requirements. The corporate world refers to the components known as a triple bottom line. Financial goals have been hindered by social and ecological concern relevant to the renewable and non-renewable resources mainly in the traditional corporate structures. Alternatives are known to also be a significant influence on the requirements for infrastructure (Thompson, 2013). Research shows that the goal of sustainability is related to the timeline related to the return on investment (ROI). The depletion of the non-renewable resources is termed as a non-sustainable practice. BHP actions after being accused of allegations showed how resilient, focused they were to retain their sustainability concept with their activities.
As a company, it did not allow their corporate structure to be disrupted by the adverse impact that their business experienced. The organization enforced the laws of sustainable development through making sure that their ethical practices were adhered to while ensuring that business goals are followed and achieved. The moral standpoint for the organization BHP ensures that regardless of the allegations and bad reputation that may precede the body, they remain loyal to their goals and objectives set. Their employees and employers agree to the fact that remaining competent when faced with adversity, tends to show just how much discipline that an individual or an organizational has about their goals. As such, the supply chain sustainability is essential since it helps organizations decide on the most appropriate strategies that an organization can adopt (Coker et al., 2012).
The organizations rely on the renewable and nonrenewable resources to assist the organizations to deal with any emergent concepts that may arise. Investments are essential since they help to determine the number of ethical practices that may initially cost a business money if mishandled. BHP understood the reasons behind sustainable growth on a local and international level. Understanding with the local media platforms helps to understand the concepts of business growth, particularly in a resource-constrained world. Sustainable development is crucial since it helps an organization identify sustainable development strategies mainly for policymakers and leaders who need to explore the collaborative strategies for action. Development of the known concepts is related to leaders understanding how crucial company goals and objectives are towards a goal. The essence of the business is changing the world through innovation.
The question deals with the concept of whether Australia is losing its reputation as a result of the corrupt activities by MNCs and lax legal enforcement by the Australian law enforcing law agencies to combat such activities. To fully understand and dissect the question, there is a need to know the reputation of Australia in the corrupt activities that some of its organizations have been accused of about the Australia laws. Another concept to considers while dissecting the question is the different types of fraudulent activities by the MNCs about the government regulations that may exist. Australian authorities seek to engage the Australian companies who deal with illegal activities (Beasley, 2015). The law enforcement agencies a responsible for combating illegal activities that affect the normal activities. Research is diversified within the different media platform where academic platforms have conducted the needed research regarding the vice. Related to this question, the concept of mismanagement also tends to affect the different ways that tend to promote illegal activities.
Australia police have he task of making sure that crime in Australia is reduced and the communities are kept safe. Research shows that the number of criminals has increased while the number of police officers has reduced. As such, the number of police casualties has increased, and police analysis states that the number of offenses has increased as a National Australia Homicide Monitoring report that began in 2012. The purpose of the known concepts is understanding the statistics regarding crime and the US rates were also calculated and compared and the necessary steps taken by the Australia authorities. Data from the Australia Bureau of Statistics show the different concepts that are related to the various initiatives related to research conducted (Perkins, 2012). There is the research from the Australia where there are distinct ideas that need to be properly understood.
Dealing with risks in an organization primarily dealing with corruption is necessary, and there are a few risks and necessary steps that an organization can adopt. The initial concept that needs to be followed by company organizations is the creation of awareness. Many international corporations tend to lack formal strategies that can be used by organizations. Unfortunately, strategic legal risks are ignored until negatives are experienced, and organizing has experienced losses. Within Australia, government institutions like banks are some of the known systems that have failed in developing strategies to deal with corruption charges. The second step that organizations needed to adopt is treating the matter in a serious manner and company management needs to be careful when dealing with corruption and allegation charges. There needs to be a system in place to deal with any possible corruption to be a technical matter that needs to be beast dealt with dealing with corruption and bribery charges. The third step that needs to be followed is the concept of being consistent. Minimize of the risks is a crucial element is essential, and tax minimization is important especially when dealing with the holistic approach that is an inherent part of a company’s culture.
Governments cannot be left to work on their own since they cannot control the amount of activity that the corporations in Australia. Presently, Australia is not a real democracy and currently ruled by the wealthy in the society. The poor and the less privileged as such have no say but rather require concepts in place to deal with the misconceptions. The poor and the less disadvantaged are the primary personnel that often relate to crime in Australia (Albareda, 2010). Being not a democracy, Australia seems to rely on the wealthy to defend them from the various crimes. However, some concepts need to be followed when protecting people from the various crimes. Greatest threats that face Australia presently is climate change or greenhouse changes. In Australia, two main political parties are mainly charged with the mandate to protect Australians from the crimes.
Regarding whether Australia is losing its reputation due to the corrupt activities that affect an individual or a corporation institution depends on the value realized or rather the commitments shown by the relevant authorities. It is necessary to note that corruption is a plague among most nations especially regarding what governments are in power. Australian is not losing its reputation reliably to the rate of crimes that have occurred regarding how its government has measures in place to make sure the speed of offense is reduced. Through such government interventions, Australian law agencies have the need to combat such activities that may lead to Australian reducing the crime. Many companies deal with the Australian crimes regarding what concepts are needed by the Australia authorities. Research, however, has proved without a doubt regarding whether Australia feels the tension and losing its reputation but at the moment, they are not losing its status as a result of the corrupt activates.
Regarding the essence of whether Australia needs to overhaul its anti-corruption law to make MNCs more ethically responsible. Ethics are the principle that governs most government institutions especially when they want to deal with the anti-corruption laws are related to making MNC’s incorporate the needed requirements. Research has shown just how much of the needed concepts are required within various ideas especially considering the needed enforcements. Organizations have developed the idea of ethical responsibility regarding what duties are required to make sure that there is an overhaul of the anti-corruption laws. Many of the organizations that were convolved were mainly non-profit agencies that participated in the issues regarding the Asia-Pacific region (Arafa, 2014). Apparently, the organizations convolved led to the sustainable and lasting value especially regarding what exactly a company needs to manage existing relationships. Australia [rides itself with other stakeholders as well as the shareholders who understand the need to have strategies in place to ensure cooperation.
Companies are adversely faced with the concepts of corruption and bribery since they are detrimental and hugely affect the growth of an organization. The two concepts vehemently represent a pervasive obstacle that hinders the growth and stability of an organization. Long term and short term goals are also quite relevant to the growth and stability of an organization. Research show that over the years, incidences of corrupt allegations have increased with many organizations in Australia facing legal damages. In recent years, the risk of the corruption charges has grown with an adverse effect on international criticism taking centerfold. The concepts will mainly lead to the decline in company share as well as possible litigation expenses that ultimately will affect the shares held by relevant stakeholders. A, however, organization that Ar involved in such activities are often related to the organizations that are characterized by poor corporate governance.
The conceit in the bad organization is relevant with other failures experienced in an organization like the inability to follow internal processes that either deals with the different concepts like the lack to protect the rights of the shareholders. The need to understand exactly the various corruption risks. Unfortunately, many organizations were not stern with the need to introduce heftier regulations regarding the penalt8e that need to apply especially regarding the need to protect foreign operators. The Australian government has shown their laxity in ensuring corruption charges are reduced in the nation. However, their laxity in the corruption charges has led to most companies taking the opportunity to make certain organizations in Australia have race bribery and corruption charges. The decision by individuals and agencies shows the desperation by the Australian nationals to expose corrupt and corruption in the nation. Poor governance structures, however, are the leading operators behind the fight against corruption.
One of the ways that organizations in Australia is combating corruption is with nonprofit agencies that are not funded by the government. However, time has seen an increase in the globalized business environment and will presently increase the chances of challenging obstacles tends to be more difficult. The most fraudulent concept, however, is making sure that people dealing corruption and bribery is crucial, and those dealing with such activities are handled accordingly (Arafa, 2014). Research still show that there is a huge risk in the Australian companies are essential, and investors need to understand the current danger. The starting point for investors is investing in an organization that seeks to address the situation of corruption should be well advertised. As mentioned earlier, the increasingly global business is crucial especially regarding how crucial it is to deal with the concept of the anti-corruption laws through highlighting the needed trends and existing gaps.
Anti-corruption charges have been studied for a long time, and the study regions have increased from the Latin America region to modern Europe with countries like Australia falling victim to the vice. The essay has attempted to identify some of the ways that due to corruption, business leaders and managers have an increase in their quest to move away from corruption charges. Public demand is an important element in need to deal with policies of corruption especially in the government-affiliated institutions about the U.K Bribery Act that has the potential to see government-affiliated organizations affiliated with massive fines and possible blacklisting from European contracts. The essay has discussed three major questions that are related to the banks in the developed countries and the steps they have undertaken to deal with new corruption charges. The essay has also described some of the approximate steps that institutions in Australia can take when dealing with any corruption charges and some of the ways that strategic risks are necessary to address corruption allegations. Too often, boards and executive committees that deem corruption as one of the most technical aspects when it comes to strategic management of corruption charges that is considered an integral part of the company’s planning initiatives a company adopts.
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