A business, as John Mackey argued, has an obligation to serve the community, therefore, if an investment has more harms than benefits, it should not be made. The traces of E-coli found in KiraFlour’s products could be a form of corruption that the TCA, whose certification isn’t needed, uses to receive bribes. However, if E-coli is in their products, then the result would be detrimental to society, KiraFlour and AgreFund. Although not found in the due diligence process, the TFC found that KiraFlour was selling unlicensed products. While, corruption could again be behind this attack on KiraFlour, the consequences would be destructive if the report were true. Therefore, there is no way the loan can be given. By denying the loan, Jim is protecting the Tanzanians and AgreFund, and announcing that corruption has no place in business. Jim’s responsibility in Tanzania is to invest for financial, social and environmental value for each client. By giving KiraFlour the loan, Jim would be creating financial value for the company’s stakeholders, while creating social and environmental problems...
When dealing with corruption, first question to ask or to clarify is what corruption is. NSW Research (2002) describes corruption anything from gaining materialistically by virtue of position (for eg. getting a special discount at stores) to engaging in ‘direct criminal activities’ (eg. selling drugs). Newburn (1999) believes that there is a thin line between the definition of ‘corrupt’ and ‘non-corrupt’ activities as at the end, it is an ethical problem. For common people, however, bribery generalises corruption.
Webb, P. (2005). The United Nations Convention Against Corruption: Global achievement or missed opportunity? Journal of International Economic Law, 8(1), 191-229.
...better relations with the host country, however they were just putting money back in their pockets. The stipulations for the loan to Kenya also included that all projects were to be awarded to Chinese contractors, despite the high reputation Kenyan engineers hold. This is creating a sense of frustration for the local populace and is likely hindering the local industry.
Enron’s Case of fraudulent transactions with the banking firm of Merill Lynch proves to be a perfect example of how loans are used to boost sales while in fact they’re technically not sales. In 2004 the “Nigerian barge” transaction ensued with Enron selling electricity-generating power barges to Merill Lynch. A huge sale as the company executives recorded it but it turns out it was actually a loan rather than a sale and that Enron did not actually earned from the transaction thus the investigations by the Securities and Exchange Commission in 2004. Perhaps the big question to be answered in this essay is, why is the transaction considered a loan rather than a sale? And if it were a loan, how would it affect the company’s financial statements?
But the question in everyone’s mind is, why had someone as hard-working and successful as Rajat Gupta risked — and now completely lost — everything in order to participate in an illegal task in which he saw no material benefit?
A corporation, like any organization of people, has civic responsibilities in terms of legal and ethical conduct. Monsanto, the worldwide agrichemical business, is the subject of much legal controversy. Considering the enormous impact of their perception as it is conveyed en masse, one ought to also venture a conjecture: What if the company is not only not malevolent, but is in fact comprised in the main, of people with moderate to strong ethics, motivated by a vision of bettering mankind. This cannot be explored without considering the actions that motivate the ranks from the vast array of Environmental and Social Justice groups who so vociferously oppose them.
The country of Uganda is a struggling nation and has adversities with their living conditions, economy, and politics. Uganda uses a republic form of government. It has a mixed legal system of English common law and customary law. The country has a plethora of natural resources “including fertile soils, regular rainfall, small deposits of copper, gold, and other minerals, and recently discovered oil” (“CIA World Factbook”).The country itself has the potential to become wealthy and more powerful, but before you can access and use these resources, you first need to improve the living conditions for the people of the country. In order to do this the country is currently attempting to stabilize the economy by undertaking an economic reform. However, “unreliable power, high energy costs, inadequate transportation infrastructure, and corruption inhibit economic development and investor confidence”(CIA World Factbook). Once again, many small things need to be changed and fixed before the achievement of the final goal of improving the economy is remotely possible. Overall the...
United Nations Microfinance and Capital Development. 2014. “Who We Are.” “What We Do” Retrieved April 7, 2014 (http://www.uncdf.org
Businesses face lots of challenges today during their development and growth, and they should decide how much financial investment are they want to put into the development of certain projects.
There is need to think of all people who are to be affected by the project or strategy, those who have influence or power over it or have an interest in its successful or unsuccessful conclusion. Stake holders for Delta corporation include:-
...In third world countries where business ethics are ignored, the gap between the rich and the poor is widened every day, and as a result, their bonds between the community are weak.
This paper describes about the lending based crowdfunding. “In April 2012, President Obama signed the Jumpstart Our Business Startups” (Best, J., & Neiss, S., 2012). JOBS Act is legal for obtaining funding through equity and lending based crowdfunding. It makes the individuals who are going to start their business will have a chance to expand their business by collecting funds through online from the individuals. Here in crowdfunding the “crowd” as a loan officer i.e., they provide or invest the money on some project to complete it. This makes the crowdfunding for ultimate source to complete ...
In this essay,we have seen evidence that corruption leads to instability in the economy,increases the transactional cost,decreases efficiency, hinders the growth of a healthy marketplace and harms the social and economic development.Therefore,it’s fair to say that Corruption has had a serious effect on the Indian Economy.If left unchecked,India is bound to lose FDI investments as investors will lose trust in the economy. “Lost opportunities caused by corruption in regards to growth,jobs and investment; India has lost up to $45-50 billion a year”(Singh 2010).
Crowdfunding is a new sector and is still developing. It is an exciting opportunity for many of the new, small and medium scale industries whose proposals are rejected by the banks.It may be confusing to most of the users as it is presented in many ways. We have there aspects in Crowdfunding investments or donations, platform, project creators. Crowdfunding works as first the idea or the proposal of the person is uploaded into the platform in which all the donators are registered. The donators view the proposal of the person and then decide to invest o...
This chapter gives an introduction of the organisation where the writer conducted his attachment. In this case the Attachment was conducted at Ecobank Zimbabwe which is an affiliate of Ecobank Transnational Incorporated (ETI). This chapter will look at the core values of Ecobank, the vision, the mission statement as well as a brief description of the whole organisation at large.