business partner located in a different country, it would be practical for the company to decide on the type of law clauses used during contract negotiations. As indicated in the succeeding simulation example, some law clauses support both domestic and foreign governments. There are other law clauses that are not supported. In University of Phoenix simulation (2012), a U.S. based company, CadMex Pharma, is entering contractual agreements with Gentura, a biotechnology-based company located in Southeast
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Stated two very compelling acts passed by the federal government. In 1890 the Sherman Antitrust Act was established to make it illegal for companies to strive to establish a monopoly on a product or service, or form cartels ("Sherman Antitrust Act," n.d.). In 1914 the Clayton Act was passed, to give clarification to the Sherman Antitrust Act, The Clayton Antitrust Act tries to exclude certain actions such as price discrimination, price fixing and unfair business practices that can lead to anti-competitiveness
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the public good. They divert funds from owners, shareholders, and are usually paid as fees, commissions, or are paid without record. The cost to the public totals millions of dollars annually. The US Government is aware of almost 100 cases in which foreign bribes undercut the ability of US firms to win contracts valued at $45 billion in the 12 months before May 1995. "Corruption occurs when someone has monopoly power over a good or a service, has the discretion to decide whether or not you receive it
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located in a different country, it would be practical for the company to decide on the type of law clauses to be used during contract negotiations. As indicated in the succeeding simulation example, some law clauses are supported by both domestic and foreign governments and others are not supported. In University of Phoenix simulation (2012), a U.S. based company, CadMex Pharma, is entering contractual agreements with Gentura, a biotechnology-based company located in Southeast Asia called, Candore.
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not follow these regulations. Over the last few years, we have seen numerous businesses and individuals, such as Enron and Martha Stewart, who found loopholes around the government regulations that gave them the opportunity to commit the unlawful acts they were involved in. Even with all of the technologically advanced systems set in place individuals in corporate America continue to engage in scandalous behaviors. It has become increasingly obvious that the number of fraudulent activities committed
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The Securities Act of 1933 The Securities Act of 1933 is also referred to as the “truth in securities” law. The Act has two objectives, one is requiring that investors receive financial and other significant information concerning securities being offered for public sale; and prohibit deceit, misrepresentations, and other fraud in the sale of securities (The Laws That Govern the Securities Industry , 2012). The Securities Act of 1934 The Securities Act of 1934 Congress created the Securities
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people? The corporate governance system started with the corporate debacles and the ultimate crash of the stock market in the late 1920s. As a result government stepped in and created regulations such as the Securities Act of 1933 and 1934, to the ever so popular Sarbanes-Oxley Act of 2002, to the more recent Dodd-Franck Law of 2010. The aim behind these regulations is noble. They are formed to prevent fraud, misrepresentation, bring more transparency and above all, prevent another financial crisis
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highest ethical standards to every aspect of their business. At the core of integrity management is the belief that companies have a strong interest, as well as a responsibility, to act with integrity at all times. This field arose in response to (a) the increased perception that companies are more likely to succeed when they act with integrity and (b) increased awareness by company directors of the need to seek expert advice to help them align and incorporate high ethical standards with business strategy
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will focus on the ethical relativism. First of all, we should know the definition of bribery. It means to voluntarily offer payment by someone seeking unlawful advantages (Wikipedia). In the U.S., in order to prohibit this conduct, Foreign Corrupt Practice Act (FCPA) is established, which forbids the U.S. citizens to bribe even if they are not present in home countries (Wikipedia). Afterwards, OECD Anti-bribery agreement is established that including 38 countries' signatures, but only seven countries
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Environmental Factors Many factors affect the marketing decisions of an organization. These factors can include trade practices, cultural differences, and the political systems in different countries. Wal-Mart, having expanded their operations to 27 different countries, must keep these factors in mind when making marketing decisions. Global economic interdependence and trade practices Global interdependence is mutual dependence at a global level. Wal-Mart maintains a simple and effective marketing
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