Legal and ethical issues in Siemens Global - Case Study Example

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Legal and ethical issues in Siemens Global

The company should have faced stringent operating procedures and forced to pay heavy penalties that would have discouraged prospective perpetrators. A small amount of slightly over $ 2 billion was a slap in the face of economic crime regulators since the company’s annual sale at the time was at a figure of over 70 billion Euros. This only encouraged the company to bribe more parties. Any company that fundamentally violates the acceptable code of business conduct ought to face stiffer penalties than just mere monetary fines that the company could have deemed as ‘budget fines’ (Twomey et al., 2011).  If you were the new Chief Ethics Officer, how would you have handled the situation? Although I would have handled the situation in a more or less similar manner to the then Chief Ethics Officer, I would however, taken a slightly different approach as far as the management of rogue employees is concerned. My first approach would have been to arrange for seminars where different personalities would train and encourage the employees on the benefits of upholding acceptable ethical standards. ...Show more

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The punishment that Siemens receives was not acceptable since the weight of the allegations leveled against the company superseded the monetary value. …
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Legal and ethical issues in Siemens Global essay example
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