How do Canadian companies doing business in emerging markets navigate the challenges associated with corruption? : ethical and legal perspectives

Abstract

The purpose of this project is to provide a portrayal of corruption in the contemporary business world in order to define how Canadian companies wishing to pursue business in emerging markets can navigate safely without entering such practices. Inspired by the ongoing enquiry commission in the construction industry in Quebec, the project discusses the place and the cost of corruption from a global perspective. An ethical perspective outlining issues and ethical solutions to fight corruption, as well as a legal perspective dealing with international laws, conventions, and international organizations actively engages in a fight against corruption are discussed. Finally, since eradicating corruption does not happen overnight, focus should be on eluding it by taking daily steps in the positive direction. Senior leaders need to be properly trained in order to act responsibly, while students of business schools globally need to understand corruption and be educated ethically to develop responsible decision-makers. A discussion of recommendations for both senior leaders and business schools concludes.