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Business Ethic - Essay Example
Author : thickle
Pages 3 (753 words)
Name: Instructor: Course: Date: Business Ethics Ethics is a term that is used to denote the right and the wrong in any issue. Business ethics requires that an organization does what is right financially, socially and environmentally. This paper looks into the case of Exxon, a large multinational oil mining company, the government of Chad, the World Bank and 145 local NGOs involved in the oil extraction in Chad…
To what limit do the liberties of the bank stretch over developing nations? Chad is a poor oil-rich nation that has had its share of internal conflicts. Political instability and leadership battles have characterized this North African country. Corruption has also taken toll on the events in this country, and this is evidenced by the award of tenders and contracts to various corporations. The first oil contract was awarded to Exxon. After this, President Idriss quickly and corruptly awarded multimillion contracts to Chevron and Petronas, oil exploration companies. President Idriss’ rule was typical of the leadership of most Sub Saharan states in that he ruled with impunity and with no democracy. In order to hang on to leadership, the President invested a lot in armory. However, this put the government in loggerheads with International corporations like the World Bank which questioned the source of funds for such expenditures. The World Bank threatened to put financial sanctions on Chad by arguing that the manner in which the government acquired funding was questionable. It can be seen that The President of Chad may have contracted the other two companies as a desperate cat to save his country from the iron hand of the World Bank. ...