Disscuss Legal and Ethical Enviroments of Business - 275 Words

Disscuss Legal and Ethical Enviroments of Business (Essay Sample) Content: Legal and Ethical Environments of BusinessLashaundra Johnson Institutional Affiliation Legal and Ethical Environments of Business Businesses are recognized by their legal and ethical environment. Therefore, the businesses that manipulate legal and ethic standards commit business crime. There are several case studies of corrupt and criminal businesses practices around. Indeed, these case studies also propagate the consequence of illegal and unethical business environment. This paper will investigate the criminal business deeds performed by Film Festival Management, Inc under the ownership of Gerald and Patricia Green. This case comes under Foreign Corrupt Practices Act of United States, money laundering and fraud.Summary of US v. Gerald and Patricia Green case This case involved Gerald and Patricia Green as the owners of Film festival manager, Inc. The Greens are convicted for their foreign corrupt practices by influencing head of the Tourism Authority of Thailand (TA T) paying him money for getting the contracts in response. From the contracts the one major contract was of Bangkok International Film Festival. This conviction of influential business act comes under foreign corrupt practices act of United States. Moreover, the two Greens committed other business crimes as well i.e. using fake business names and money laundering. They wired there earnings to different counties in the bank accounts of officials, daughter and friends. These money laundering and fraud actions of business made their case worst and more criminal. Ultimately, after completion of investigation the authorities penalty Greens for their misdeeds by putting them in prison for twenty years.My opinion The reason of high rate of corporate crimes in United States is the greed in people and disbelief on their own abilities. Because, influencing someone to gain business profits is not business. In my opinion it is a criminal act and in United States the laws and rules are quite st raightforward for corporate crimes. Furthermore, in my opinion the straightforward laws and rules in United States are the only solution to have genuine legal and ethical business environment there. In addition, these laws should be prolonged to protect the genuine and ethical business proceedings for everyone. ReferencesBennett, Iris, Liu Jessie and Keller Caroline. (2009). U.S. v. Gerald and Patricia Green Highlights t...