Whole Network Accounting boards of directors Compliance Ethics executive pay SOX strategy

 

The etiquette of baksheesh

Filed in archive corporate crime by leon on January 06, 2007

The etiquette of baksheesh
Nothing unusual about greasing palms. But when you travel extensively, you notice there are certain rules and procedures. An etiquette of bribery, all summed up beautifully in this piece in The Economist, How To Grease A Palm.

What's clear from this piece is that the definition of corruption differs from person to person. Even the word baksheesh has a double meaning. Is it charity, or a bribe?

The same ambiguity runs the debate on bribery now.

There are parts of the Third World where bribery can be standard business practice. That's not as bad as it sounds. It's just how things work, and it's usually dressed up in another name. In the West, it's called networking and deal-making. More subtle than a brown paper bag, but the market-distorting effects can be the same. Witness the enmeshed network of lobbyists, corporate-controlled thinktanks, party machinery and personal trafficking in favours that landed the Republicanslinks in trouble.

And that's the sort of ambiguity now driving the debate in Britain over the Blair Government's decision to drop the probe into whether BAE was slinging cash to secure big Saudi defence contracts.

So are bribes necessary to secure some business deals? Check some of the responses from the public on the BBC web site and you'll get the picture.

Think through the ambiguities and you are left wondering whether whether these sorts of issues are ephemeral events that make the headlines and then disappear, or whether they have broader implications for business and government.






Permalink: The etiquette of baksheesh
Tags: bribery  BAE  Blair  Government  Saudi   

Trackback: http://www.creative-weblogging.com/cgi-bin/mt-tb.pl/48343



Advertisement


Advertisement


RSSrss   | See all blog subscribe options
Googlegoogle   |   What is RSS?
Yahoo!yahoo
AddthisAddThis Feed Button
BloglinesBloglines
Newsletter

Use the search to look for other interesting posts

 
  • Advertise with us

  • Learn more about our advertising options or email advertising - at - creative-weblogging.com or give Luis a call at +1 (650) 331 8047.


  • Other blogs in the same channel in the Creative Weblogging Network







 
Tagcloud: Accounting boards of directors Compliance corporate crime corporate governance corporate reputation Ethics events executive pay litigation markets regulators risk shareholder activism SOX Sponsored Blog strategy