Corruption in business is now being practiced in a full swing.
''Strategy Management in Developed countries"
In our continuous life, we face many unbearable problems. Corruption is one of them. A famous person named Naim has, at first, used the phrase "Corruption Eruption" At present; this problem has become very acute in the whole world. According to the world survey result and comment of the prolific persons, the biggest business companies are involved in corruption. PHP billion, a giant mining company may be involved in bribery. Corruption is now seen in every nook and corner of the world in every phase of life especially in the business sector. It makes every developed program of the government fruitless.
What the corruption defines:
Corruption refers to the unscrupulous activities by the dishonest persons remaining in the authoritative position to take personal benefit.
The presence of corruption in the business world:
The present age is the era of commerce. The international relationship based on the industry has become very severe. Now the world is going fast and being advanced centralizing the current of trade. But it is a matter of great regret that the curse of corruption is being widely seen in the business world and the expected development is being grasped. Improvement in all sides of life is being interrupted owing to the corruption in the company.
An American department of justice investigates over 150 companies especially on oil and drugs firms and find many of them are engrossed with treachery.
Philips Nichols known as a famous scholar of the Wharton school opines that most of the western firms are engaged in corruption.
There are many marked reasons of corruption. These are given below for good realizations:
Lack of religious teaching
Greed for being rich shortly
Having tendency to acquire personal benefit
Smuggling valuable goods of the country
A short description of the reasons is given below:
Lack of religious teaching: All classes of people are under the rules and regulations of religion. The rules of religion provide us good teaching to make our mind holy and pure. If we follow these laws, a good conception of the perfect way of leading systematic life will come to our mind. If we think that good performance has the good result and bad act has horrific consequence, it will be possible for us to keep ourselves, society and country aloof from the sign of corruption.
Greed for being rich shortly:
Greediness is a very dangerous virus for all walks of life. People generally have an eagerness to be rich in a short cut way. Everybody wishes to be in the wealthy position. This wish makes him obeyed to be involved in corrupted acts.
Having a tendency to acquire personal benefit:
Actually, the intention of being prosperous begets the illegal ways of corruption. Besides, it becomes very difficult for one to control him or her from the greed of money and power when a good offer comes to him secretly. At that time, he does not have enough time to think of the result of its polluted performance.
Smuggling valuable goods of the country:
Many corrupted service holders smuggle the valuable goods of the organization where they are doing jobs. They secretly steal the things like as electric products, server products, gold, diamond etc and make money illegally for their own interest to do harm for the institutional owners.
The activities included with corruption are:
The use of public office for private profit
Natural resources are often a curse on developing countries
Taking or giving bribery
Misuse of opportunity
Abuse of entrusted power for private gain
Making money in an illegal way
The explanation of the activities is given below:
The use of public office for private profit: It is seen in a full swing around the world to use public office for personal profit. This is one kind of corruption that is now presence everywhere.
Natural resources are often a curse on developing countries:
Many developing countries are blessed with natural resources. But the corrupted person abuses of these resources and make money in a black way. Paying tax will help the government to lead the country properly. It will bring improvement in the country and build a good relation between the government and the citizens.
Taking or giving bribery:
Inducement is a wide way for the corrupted to continue their ill activities in order to materialize their dream. Many corrupted business men while smuggling illegal products crossing borders offer the bribe to the guarders who are in charge. The dishonest officials help the corrupted businessmen to smuggle the products. At this, the country faces a great lack in the case of the economy but both the deceitful officials and the businessmen take the interest.
Misuse of opportunity:
The abuse of chance is a way to do unlawful activities in business. It creates a way to cheat easily.
Making money in an illegal way:
The persons having the intention to be the moneyed man in a quick way always searches for a chance. In this circumstance, he does not think whether it is legal or not.
The corrupted doings often seen in the business fields are as follows:
Producing duplicate goods
Delivering copy products to the clients in the name of legal goods
Offering bribery in various sources to manage costly products in a cheap rate
Prioritizing on the personal gain desperately
Not to consider the harmful result of other
The above points are illustrated below with logic:
Producing duplicate goods:
Many owners of the business are found to be engaged in numerous bad practices. To make money rapidly and with less industry, they often produce duplicate products.
Delivering copy products to the clients in the name of legal goods:
The fraudulent business owners sell the copy products in the market. They actually cheat with their customers in the name of legal materials. At this, the general buyers are cheated but the businessmen earn a lot of money.
Offering bribery in various sources to manage costly products in a cheap rate:
Giving and taking bribery has now become common to the business world. The untruthful persons are now practicing it in a full swing.
It is known to all that every action has an equal and opposite reaction. This is a universal truth that man has to reap the crops that he has planted. The consequence of corruption is very bitter to the corrupted persons of any level. The visible results are:
Losing goodwill of the business institution:
Corruption is a vice. It destroys every successive way bitterly. If the customers once can realize about the cheating, they never trust the company. At this, the good will of company decrease slowly. If respect is once lost is lost forever. It becomes very complicated to regain this admiration again.
Losing belief of the clients:
Belief is achieved working many days. It takes time a lot. Nobody believes a false person in the society and country. In this case of business, trustworthiness is very significant that should be upheld for a success of expected peak.
Having the possibility of total closure of the company:
The illegitimate act must have a negative and unexpected effect on the business. Even, a business can be stopped forever for this illicit act. So, honesty is a must for success in any types of business.
At last, it can be said that the vice-like corruption must be removed from all sections of our life especially from the business sector with a view to having strategy management.