248:(officially OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions) is a convention of the OECD, ratified by 41 countries and aimed at reducing corruption in developing countries by encouraging sanctions against bribery in international business transactions carried out by companies based in member countries. Countries that have signed the Convention are required to put in place legislation that criminalizes the act of bribing a foreign public official. Much of the legislation passed by member countries have international reach.
259:; requesting or receiving a bribe; bribing a foreign public official. (A specific offense required to comply with the OECD Convention mentioned above); and a new corporate offence of failing to prevent bribery from being undertaken on its behalf. The Act applies to British companies, partnerships, citizens, and individuals ordinarily resident in the UK, regardless of where the relevant act occurs. They also apply to non-British nationals, companies, and partnerships if an act or omission forming part of the offense takes place within the UK.
173:, labor issues, and the poor working conditions in their own operations, in those of their subsidiaries, as well as for the actions of subcontractors acting on their behalf. An early example of the demand for responsibility starting to take hold was in the early 1990s when the reputation of a major footwear corporation was severely damaged, the brand devalued, and the company was subjected to consumer boycotts after the discovery of the supplier's poor labor standards. Child labor watchdogs found children as young as 10 working for
233:(TI), which investigates business corruption across the globe and corruption was partly to blame for the recent global economic crisis of 2007–2008. The conditions cited included: serious lapses in corporate due diligence, governance and integrity; poor transparency and accountability and inadequate corporate integrity systems. The worldwide recession has furthered the public's demand for businesses to behave responsibly.
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company's activities promote behaving responsibly, with fairness, sustainability, and cultural sensitivity in the communities in which they operate. It is very different in this respect from the more reactive field of risk management, although some risk management companies have attempted to embrace ethical risk as an area of specialism. Many risk management consultancies are adjuncts to
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306:(SEC) whether the minerals are sourced from the Democratic Republic of Congo or adjoining countries. Companies will have to detail the measures they have taken to avoid sourcing the minerals from Congolese armed groups, which are guilty of massacres and other atrocities. The bill also requires that all information disclosed be independently audited.
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FCPA-related enforcement action. There are numerous other examples. In existence for around 40 years now, the FCPA is a very powerful tool in the hands of US DOJ and SEC which they use as a weapon for the recovery of billions of dollars from foreign corporations worldwide over which US authorities have little jurisdiction.
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A well-known example of a company prosecuted under the FCPA is German car maker, Daimler, which agreed to pay US$ 185 million in fines to the US government over alleged bribes paid to secure contracts abroad. BAE Systems PLC, a UK-based defense contractor also agreed to pay a US$ 400 million fine in
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In response, the field of integrity management has been born to help clients conduct business, even in the most challenging of markets, without compromising their ethics. With the help of expert advice, companies can go beyond abiding by the law to taking a voluntary, proactive approach to ensure a
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This legislation underpins some of the reasons businesses are taking integrity seriously and enlisting integrity management consultancies. Many business leaders have realized that early adopters of strong corporate ethics will thrive, as did those quick to embrace the environmental agenda in recent
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within a corporate set-up is a holistic approach that makes prudent and ethical decisions in finance and other areas, including operations, marketing, human resources and manufacturing. At the core of integrity management is the belief that companies have a strong interest and responsibility to act
192:, in 2009 there were 25 media stories on corporate ethical lapses in the extractive industries alone. Reported issues for this sector included environmental matters and allegations of human rights abuses in emerging markets, as well as accusations that oil companies were dumping toxic material in
271:(SEC); and, another concerning bribery of foreign officials. The FCPA applies to individuals and businesses with securities registered in the United States or a principal place of business in the United States. While this Act has been in existence for quite some time, the SEC and the
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of 1977(FCPA)(15 U.S.C. §§ 78dd-1, et seq.) is a United States federal law with international reach that also targets unethical behavior. The Act is known primarily for two of its main provisions: one that addresses accounting transparency requirements under the
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Specialist integrity management consultancy helps business leaders not only to avoid business practices that represent a risk to an industry or economy, but also helps to bring such practices under scrutiny so that they can be brought to a quick end.
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Many also offer general ethics audits so that companies can obtain independent verification to attest to the high standard of their corporate ethics. Of course, this is not an exhaustive list as each consultancy offers different services.
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at home and in developing countries. As a result, governments have been called on to legislate, and business leaders to innovate, to ensure that high ethical standards are put at the heart of business and industry.
323:. Therefore, some would-be clients are not convinced that they are best placed to assist in the area of integrity and ethical management, because their parent companies face reputational challenges themselves.
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The practice of integrity management consultancy combines numerous disciplines including established
Knowledge Acquisition Methodologies, Public Relations Practices, Business Risk Management techniques,
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years. Consumers and shareholders are increasingly ready to recognize the value of corporate responsibility in international business. Increasingly, responsibility and sustainable value are intertwined.
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Stricter legal frameworks have made it easier to prosecute transgressors and new international initiatives are helping countries to work in collaboration to deter poor business ethics.
196:. The briefing also highlighted the amount of negative media attention given to the wider retail sector in 2009. Numerous stories exposed unethical practices, such as exploiting
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Appalling workplace conditions have existed for centuries. However, the media has now made ethical transgressions readily public. In fact, according to a briefing by the
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335:, Compliance functions, Insider Threat detection and Financial expertise to help clients make responsible and ethical business decisions.
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The media attention given to ethical lapses means that companies are increasingly being held responsible for unethical behavior including
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Providing advice on accessing a local pool of talent and addressing cultural considerations for building an effective local workforce
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that advises individuals and corporations on how to apply the highest ethical standards to every aspect of their business.
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Boggan, Steve. "Nike admits to mistakes over child labour." The
Independent 20 October 2001. . 4 July 2010 <
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which was enacted into law on 8 April and defines three discrete criminal offences: offering or paying a
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https://www.independent.co.uk/news/world/americas/nike-admits-to-mistakes-over-child-labour-631975.html
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on July 21, 2010 contains a clause that specifically requires companies with products containing
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may contain an excessive amount of intricate detail that may interest only a particular audience
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In recent years, the general public has become both better informed and more concerned about
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labour, and accused some retailers of posing a danger to indigenous communities in Africa.
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Institute of
Business Ethics. Concerns & Ethical Lapses, 2009. Issue 15, February 2010
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431:“Transparency International”. Transparency International’s Global Corruption Report 2009
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Conducting detailed investigations into proposed local partners and key employees
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any relevant information, and removing excessive detail that may be against
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Preparing community needs reviews for better targeting of CSR programs and;
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Identifying potential reputational and ethical threats for clients
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Ferrell, O C; Fraedrich, John; Ferrell, Linda (January 2016).
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Developing practical recommendations to mitigate these threats
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Integrity management consultancies offer services such as:
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Dodd-Frank Wall Street Reform and
Consumer Protection Act
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fines and in some jurisdictions jail terms for directors.
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Damaged corporate reputations and brand devaluation,
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Business Ethics
Ethical Decision Making & Cases
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203:The impact of such negative exposure can include:
348:Making recommendations for, and carrying out
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219:negative perceptions on behalf of investors,
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129:Learn how and when to remove this message
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177:making shoes, clothing and footballs in
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443:"Daimler settles US bribery charges"
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