Legal and ethical issues in Siemens Global Case Study

Legal and respectable issues in Siemens Global - Case Study ExampleThe ships company should have faced stringent operational procedures and forced to pay heavy penalties that would have discouraged prospective perpetrators. A small amount of or so over $ 2 billion was a slap in the face of economic crime regulators since the companys annual sale at the time was at a figure of over 70 billion Euros. This only encouraged the company to bribe more parties. Any company that fundamentally violates the acceptable code of business conduct ought to face stiffer penalties than just mere monetary fines that the company could have deemed as budget fines (Twomey et al., 2011). If you were the new Chief Ethics Officer, how would you have handled the situation? Although I would have handled the situation in a more or less similar manner to the then Chief Ethics Officer, I would however, taken a slightly different approach as far as the management of rapscallion employees is concerned. My fir st approach would have been to arrange for seminars where different personalities would train and encourage the employees on the benefits of upholding acceptable honorable standards. Instead of just dismissing incompetent employees, I would have engaged them in educational seminars before demoting them to overthrow positions so that they could rework their way up the corporate ladder through ethical and just means. This approach would have instilled confidence in them and all other employees to work as a team towards the growth of Siemens short-term and long-term goals (Fernando, 2010). Was the debauchion justified since bribery was legal in Germany until 1999? Despite the position that bribery was legal in Germany, there was no justification for the corruption witnessed in Siemens whatsoever. The point that Siemens is a German company did not negate the need to operate in conformity to the internationally accepted business ethics since Siemens is an international company with subsidiaries spread across the globe. Although, the sr. executives in Siemens case tried to justify their acts as a strategy to gain emulous advantage in the market, this still violated the internationally accepted business conducts. This is because most of Siemens corrupt deals were international and any company that operates on a global platform ought not to use local anesthetic policies but internationally recognized ones in business operations. With all these evidences of breach of international law, it is wise to desist that Siemens was not justified to embrace bribery and corruption as company constitution. (Twomey et al., 2011). How does an organization switch the shift to refine their ethical practices when there is such a radical change in policy? More often than not, organizations that take the bold step to ethical recovery undergo agonizing experiences though the results obtained are much pleasant. Various ways by which organizations can make the shift to refine the ir ethical practices exist and there is no single most approach to this course. Some organizations opt for the restructuring of the management remains in an attempt to reverse the undesirable trends witnessed over a period. While this can be an detach approach for a dynamic and self-motivated team, the organization can seek to transform the culture of employees directly by either imposing new company policies or engaging the employees in dialogue. Ordinarily, most organizations choose the latter(prenominal) as it has the effect of improving employees trust and confidence in the company. Overall, whichever approach an organization decides to take should co-ordinated participation by all stakeholders (Fernando, 2010). By researching online, what have been more recent developments with Siemens Global