Question

Consider the following scenario:
To assist the sale of your products in a particular foreign market, you are advised to pay a 10 percent commission to a go-between who has access to high-ranking government officials in that market. You suspect, but do not know, that the go-between will split the commission with the government officials who decide which goods to buy.

Respond to the following:

Do you think there should be more or fewer attempt to regulate international ethics? Why?

Answer 1

I think wherever there are regulations, there are players in the market to attempt seek the advantage of the loopholes from the same. In this regard, stricter norms can always be introduced in the International market that at least takes care of such loopholes in the system and ensure fairer play in the market, thereby calling for higher international ethics standards. The activities of fraud, bribery, etc. have made its way bigger into the international markets mainly because the ethical standards differ from place to place. In certain countries, regulations for ethical standards are more stringent than that of the others. In this regard, raising the bar of the international ethics is the need of the hour and hence there is always a room for making more attempts to regulate it. Such attempts to raise the ethical codes in the International scenario may help to safeguard the consumers and fair players in the market in somewhat better way than otherwise.