Sample Term Paper
The practice of kickbacks is harmful for Great Builds because it does not provide the most amount of benefit to most people. Looking at it from the company’s perspective, bribing promotes inefficiency as well as a lack of innovation among the responsible employees and management (Crane, 2007).
As the path to gaining contracts has come to be defined through bribing the right officials, employees exert less effort to cost cutting and quality improvement measures which would help the company win the projects in a fair competition. This is beneficial for society since it results in higher quality construction at less cost. Bribes on the other hand increase the costs to society and means that scarce resources are focused towards unproductive acts such as kickbacks, whereas they would have been better served elsewhere. Great Builds’ practice also has an adverse impact on the country as it enforces the corrupt practices of the local officials, provides a platform to them and acts as an impediment to the institutional development of the developing countries. Once the system is broken down, it tends to have the same impact on the dealings of the local officials with other people as well.
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