Business Ethics Response Needed-5

Business Ethics Response Needed-5

Question:

Please find the attached document. There are 2 discussions, need to read the discussions and respond to them in 150 words each.

Write the response in 300 words for 2 responses(which is 150 each), APA format, provide references, no plagiarism.

Discussion 1:

Read the articles how would you explain the correlation between the amount of corruption in a country and economic development?

 

 

 

Corruption is mainly termed as the misuse of the power of the public for the gain that is private in nature (Mazzucato, 2018). In other terms it can be said that corruption is mainly the misuse of the power that is entrusted for the individual advantage,  it is mainly a decay or improbity in the process of the decision-making in which the maker of the decision consents to the deviation demands or deviate from the criteria which should mainly rule the individual making power of the decision. This is mainly done for the exchange of the reward or the for the expectation or the promise of a reward. This mainly motivates the influencing power of the individual’s decision-making process. Hence, this cannot mainly the part of the individual’s justification for the decision. The huge amount of corruption mainly comes close whenever the major events involve the large sums of the money.

The discussion of corruption is very much difficult as this is mainly termed as the phenomenon that is hidden in the societies. In this case both the parties mainly do an exchange of the power for the privileges they want to keep a a secret. This hence makes difficulty in establishing of the deep and wide corruption penetration of the social life and the economy. Some of the major characteristics of corruption are as follows. The first one is termed as the payers and the recipients. The extortion is termed out as the next characteristic of corruption. Another most effective corruption that can be put in contrast is the lubricant of society. This is followed by the next characteristic feature which is termed as the ethical problem. The next feature that can be put in accordance is the reduction of poverty. There are many more characteristic feature of corruption. Corruption is mainly the abuse of the power that is trusted and the also elected authority for the profit that is private in nature. There are certain roles in economic development. It is seen that entrepreneurship mainly plays an effective role in the economic growth and the living standards of the country. The certain role is mainly as follows (Chen, Dong & Lin, 2019). The first role is the creation of Wealth and Sharing. The next role that can be taken in contrast is the creation of the jobs. Another most effective role that can be put forward is balancing the development that is regional in nature. Also, the per capita income and the GDP acts as the next role that is played by economic development and makes the economic development more liable.

Corruption and Economic Development:

It can be seen that the corruption that is of high level mainly damages the development and the growth (Pulos & Jimenez, 2016). This mainly inhibits direct foreign investment into an economy. This mainly leads to the inefficiency that is allocative in nature. This inefficiency is mainly done on the resources of the public for private gain. Hence, it can be said the correlation of corruption with economic development mainly creates a negative impact on society.

 

 

Discussion 2:

Read the articles how would you explain the correlation between the amount of corruption in a country and economic development?

 

 

 Corruption plays negative role in economic development. It is difficult to measure corruption as it has become more common and widespread. Also, many people hide their corruption practices with the help of their positions power. Government can conduct a survey to measure how much corruption is affecting country’s economy. (Huang, 2016)

Many individuals involve in corruption by misusing the power by taking or giving money to achieve certain something which may be illegal, unethical and unfair way. The political and economic corruption affects operation of laws and leads entire society to suffer. There are many highly corrupted countries and in my understanding the corruption is more in emerging countries where the competition is more in employment, as well as economically. Many industrial companies bribe government official to get their permissions approved quickly, and also to get approval for low quality products. Not only companies give bribe but also take from public in order to get the things done. (Mirzayev, 2019)

Corruption is also based on the living standards of people in upper class, middle class, and lower class and how the country’s economy is distributed between these. Rich people become more rich and poor people become poorer. As big companies bribe government officials, there will be more support and growth of wealth. Even individual use their power and take bribe from public for getting things done and can easily hide their actions from government and laws by bribing government officials. In some countries, businesses involve in bribery to avoid paying tax. Corruption has affected every field like education, employment, business, IT field, agriculture, healthcare, financial, and government. (Cabaravdic & Nilsson, 2017)

 
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