Saturday, September 28, 2019

Case study Example | Topics and Well Written Essays - 1000 words - 7

Case Study Example The only lacking portion is the enforcement of strict sanctions and rewards mechanisms which would ultimately deter the employees to even consider bribery or manifesting corrupt behavior. 2. The steps instituted by Siemens Global to root out corruption is already extensive and comprehensive. As noted, there must be a system of rewards for compliance and sanctions for non-compliance. Likewise, since there is an aspect of cultural element that have considered bribery as part of their organizational culture, there should be vigilance and regular monitoring of the performance of all employees regarding conformity to the zero-tolerance policy through performance appraisals, random checking, and imposition of stricter penalties for violations, as deemed necessary. 3. Yes, one strongly believes that given the massive scale of previous corrupt transactions that involved billions of dollars through the years, the financial penalties were merely about 3.75% of their 72 billion annual sales, which was not even commensurate to the usual percentages (a minimum of 5 to 6% of the contract’s value to a maximum of 40%) accorded to bribery in their previous dealings. Therefore, they should have been imposed additional financial penalties to hurt so much that they would not ever consider bribery and corruption in current and future undertakings. 4. Siemens can therefore move beyond compliance to develop a healthy ethical climate by being more vigilant and ensuring through frequent monitoring, training, and performance evaluation that all employees and officers comply with the zero-tolerance policy. A code of ethical behavior should be integrated as part of their organizational policies. Only through a system of regular check and balance, as well as conformity to transparency and accountability, would Siemens Global be able to regain an ethical culture that

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