BRIBERY AND CORRUPTION

BRIBERY AND CORRUPTION.

INTRODUCTION. The corporate world has its own challenges and its issues, every corporate body has an on- going disruptive issue destroying the reputation of the entity that is yet o be eradicated. Not only here in Ghana but the entire continent and universe as a whole. Although there are many challenges dragging the business world in to the mud but the most devastating one that we are all facing at the moment is bribery and corruption..

TYPES OF CORRUPTION. The corporate world has its own challenges and its issues, every corporate body has an on- going disruptive issue destroying the reputation of the entity that is yet o be eradicated. Not only here in Ghana but the entire continent and universe as a whole. Although there are many challenges dragging the business world in to the mud but the most devastating one that we are all facing at the moment is bribery and corruption..

BRIBERY. Bribery is the offering, giving, receiving or soliciting of any item of value to influence the actions of an official, or other person, in charge of a public or legal duty. Bribery and corruption is a strict liability offence that can change and damage a company reputation in the corporate world. If an employee or an entity accepts a gift in return for preferential treatment, we classify that entity or individual as corrupt. When all these happens in the corporate world, it will always bring shame to the particular organization and will also serve as a good note for investors to withdraw their financial support.

This is a typical image of an official receiving bribe, if this individual is caught it might bring shame to him and the business as a whole. NB it should be understand that a corrupt deed has even occurred if even if a bribe has not been received..

EMBEZZLEMENT. aking the company goods or funds for personal use or gain is called embezzlement. Embezzlement can also be termed as the withholding assets for the purpose of conversion of assets, by one or more persons to whom the assets were entrusted, either to be held or use for specific purposes. example a husband or spouse might embezzle funds from their joint bank account..