Business law and ethics

Abstract

Bribes are mainly directed at government officials, although they could be directed at the employees and managers of business firms. However, bribery appears to be a self-defined crime. Bribery of small public sector employees is a white-collar crime. However, bribery also exists in high-level decision-making processes, whether political, economic, or corporate situations. These are large-scale bribes, consisting of millions and/or billions of dollars, paid out to executives and public officials in return for construction contracts, oil contracts, telecommunication contracts, etc. Although punishments exist and are implemented, it is up to the individual alone to make the final decision and choose between personal moral value system and personal welfare in opposition to serving the public welfare. This chapter explores bribery.