BAET 30510 Lecture Notes - Lecture 6: Corruption Perceptions Index, United Nations Global Compact, Global Governance

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7 Feb 2017
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Session 6
Just some extra stuff
What is corruption?
*Corruption = the abuse of entrusted power for private gain
Example: teacher/professor using their authoritative power and
power of giving grades to get something they want (accepting
bribes)
What is bribery?
*Bribery = a gift of any loan, fee, reward or any advantage that conduces
someone to do something, typically illegal or dishonest
How to avoid corruption
Put in code of conduct something about corruption
Educate your people
Be honest on your expense accounts and financial statements
Corruption Perception Index
They’ve served thousands of people in all countries and served with
politicians who would have some sense of what corruption is
On the basis of these people’s perceptions of corruption, they rate
countries
#5: Explain how the UN Global Compact is an instrument of global governance.
In our modern day economy, all these companies are going into these different
companies with different sets of rules and regulations.
The 10 principles give companies a chance to buy in voluntarily and subscribe to
a certain way of doing business.
They can take those core principles to whatever country they decide to do
business in, regardless of the laws and regulations in those countries.
Global governance is companies being able to take these rules all around the
globe and apply them to wherever they want to do business.
The Global Compact has a lot of powerful; they’re very reputable and a lot of
companies admire what they’ve done.
So in order to be accepted by the Compact, which is something that
would be an advantage to the companies because it would make them
look good to clients and consumers, they have to abide by the principles.
Because of this, the Compact can govern the entire world because
businesses want to be a part of it and look up to them and what they’ve
done.
Global Compact has a major influence and has been accepted around the world
and have created a norm.
Now there’s a consensus in the world that companies have to take
responsibility of the whole supply chain, and help with codes of conduct
and be responsible for human rights and all that.
They give a guideline of ethics.
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