The Fraud Scandal Of Glaxosmithkline - 1596 Words

GSK Analysis This paper covers the information given from the bribery scandal that GSK paid off the Chinese government and doctors in the country. This analysis will take a look at what happened, what went wrong and the conclusion for the company looking in the future to do business in China. The company’s response is a key issue in how they came back from such a detrimental hit in a growing market. There are a number of factors that will be interpreted and discussed for the future dealings in China. Questions Arise The first question to arise would be what kind of laws does China already have in place? Also, one has to consider the way the laws are enforced if any standard has been set. There are two standard laws that handle this type of incidence in the country. The first one is the Anti-Unfair competition law AUCL (Rogers, 2014). The punishment that is set forth will be determined by the severity of the crime. This law is in direct correlation with anti-corruption and bribery in the country of China. It goes into detail with Article 8 of the AUCL which forbids any industry or commerce representatives from giving bribes in the form of property or other means for the purpose of selling and purchasing products and services (Rogers, 2014)†. Payments or stealthy charges that are improperly acknowledged in the recordkeeping or ledgers are also prohibited. In the case of GlaxoSmithKline, they even tried to bribe the officials that are the ones who enforce thisShow MoreRelatedThe Fraud Scandal Of Glaxosmithkline1927 Words   |  8 Pages GSK Analysis This paper covers the information given from the bribery scandal that GSK paid off the Chinese government and doctors in the country. This analysis will take a look at what happened, what went wrong and the conclusion for the company looking in the future to do business in China. The company’s response is a key issue in how they came back from such a detrimental hit in a growing market. There are a number of factors that will be interpreted and discussed for the future dealingsRead MoreIA1 Essay1918 Words   |  8 Pagesï » ¿ GlaxoSmithKline in China Case Study 1 Khoa Nguyen AMBA 660 9043 Introduction There has been a lot of increase in expanding companies throughout other countries. In order for a CEO of a company based in USA to move some of its operations to China, it’s best to understand the foreign and local policy that is in placed in China and the bribery scandal that involved four employees of GlaxoSmithKline. This case study will examined the GSK scandal by analyzing the case that involved theRead MoreThe Relationship Between Uk Shareholder Voting And Executive Pay1092 Words   |  5 Pagessecond advantage is enhance the transparency, accountability and governance.This new regulation require boards publish directors’ compensation reports add to annual reporting, and disclose individual managers’ unreasonable payment.Under the fraud and financial scandals increase frequence and severe cases, the shareholders ask to improve the transparency of compensation and thereby make more perfect rule of corporate governance. M. B. Kimbro and D. Xu(2013) expres sed the view that excessive executive compensationRead MorePlan and Response for a Chief Nursing Officer2325 Words   |  9 Pagesï » ¿Chief Nursing Officer: Plan and Response The reality is that healthcare fraud negatively impacts everyone in the nation. 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Business risk can be defined as the risk, which could affect an organization’s ability to achieve its objectives (Gray and Manson, 2007). Audit risk is defined as the risk that the auditor gives an inappropriate audit opinion when the financial statements are materially misstated (Soltani, 2007). In Gray and Manson (2007)’s