SCANDAL IN SIEMENS (2006) In November 2006‚ Siemens company the Germany’s industrial giant had been involved in the largest bribery scandal that Germany had never experienced before. Managers used to secure abroad contracts by paying bribes to their clients. Is this an unethical behaviour or just a way to make profits for their company as they pretend that they didn’t make any personal gain? Is this behaviour could be considered as a sort of lobbying? What are the lessons Siemens had learned
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SIEMENS: 1. Identify four benefits to Siemens of its in-depth training and development of workers. Ans. Training refers to increasing the knowledge‚ skills and attitude of employees or extending those the employees already have. Siemens as the top three electrical and electronic companies has been running various effective training programs for their employees in order to build a strong work force and thus contribute better services to the society. In order to do that‚ they are providing their
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1) What explains the high level of corruption at Siemens was how it was legal at one point in time to offer bribes‚ but once the law changed‚ Siemens continued to do brides that was once legal but now illegal. Also‚ when the company continued bribery‚ Siemens transferred money into a hard-to-trace bank in Switzerland to protect their business and help them win contracts. Managers rationalized it as the bribes being useful money‚ but in a way they were still making profit‚ and bribes were used as
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of Global Business Professor Portillo BSAD 113W 18 February 2013 Assignment #3: Siemens Bribery Scandal Before 1999 the use of bribery in Germany was not illegal and could be deducted as a business expense in a company’s taxes. This allowed companies like Siemens to gain the upper hand and have an unfair advantage over their competition in acquiring business deals around the world. Then when the law changed‚ Siemens still utilized bribery‚ and employed bribery tactics in other countries where it
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Slide1 : Siemens AG‚ a $73 billion electronics and electrical-engineering conglomerate. Siemens is well known for the technical brilliance of its engineers‚ but much of their knowledge was locked and unavailable to other employees. Facing the pressure to maximize the benefits of corporate membership of each business unit‚ Siemens AG needed to learn to leverage the knowledge and expertise of its 460‚000 employees worldwide. Slide 2: The roots of knowledge management at Siemens go back to 1996
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Siemens Bribery Scandal By: Courtney Miano‚ Nancy Gonzalez‚ Mohamed Jawhar‚ Vernita Leslie‚ and Ferba Hines Siemen’s is classified as a large German electronics firm. In December of 2008‚ Siemens had to settle lawsuits and pay fines due to the fact that they were caught using bribes to win business all over the world. The fines totaled a net amount of 1.6 billion. Between 1999 and 2006 when the company was raided‚ Siemens reportedly paid around 1.4 billion dollars in
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Case Analysis: The Bribery Scandal at Siemens AG The Siemens bribery scandal brought to light a strategic dilemma facing multi-national firms attempting to gain a competitive edge by operating abroad; specifically‚ how can they balance adherence to their own ethical and legal standards with the customs required to do business efficiently‚ or perhaps at all‚ in foreign markets? Germany’s Co-Determination law has since drawn intense criticism as hampering competitiveness and creating untenable
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[pic] Cultural Intelligence Cultural engagement‚ understanding and communication in a complex and constantly changing business environment Appendix [pic] Aalborg University‚ July 2009 Culture‚ Communication and Globalization Master’s Thesis Appendix to thesis Appendix I - 3 - INTERVIEW GUIDE - 3 - Appendix II - 6 - Interview transcript Interviewee I-C - 6 - Interview transcript Interviewee I-D - 15 - Interview transcript Interviewee I-E - 32 - Interview
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co-determination rights held for employees. Germans also demonstrate a high degree of uncertainty avoidance. They are a very analytical and data driven culture and prefer deductive approaches when presenting or planning as they are more comfortable with structure rather than ambiguity or risky situations. The high uncertainty avoidance correlates to Germany’s long-term orientation which is also validated by the employment agreements which allows employees and generations of their family to remain employed
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BUSINESS MATH Simple Interest and Simple Discount Business Math‚ Eighth Edition Cleaves/Hobbs © 2009 Pearson Education‚ Inc. Upper Saddle River‚ NJ 07458 All Rights Reserved 11.1 The Simple Interest Formula Find simple interest by using the simple interest formula. Find the maturity of a loan. Convert months to a fractional or decimal part of the year. Find the principal‚ rate or time using the simple interest formula. Business Math‚ Eighth Edition Cleaves/Hobbs © 2009 Pearson
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