Last month, Democratic Republic of Congo (DRC) Mines Minister Martin Kabwelulu issued a formal statement recognizing adverse issues influencing the fraud and smuggling of conflict minerals in South Kivu. Minister Kabwelulu called for a thorough clean-up of the area’s mining sector.
As the world economy expands and companies experience globalization, supply chains have become increasingly complex. For example, the Adidas Group, one of few companies that fully disclose their supply chain information, works with over 1,000 independent factories in over 61 countries.
In a country struggling to mitigate a myriad of political, economic, and financial issues, there has been a challenge to effectively deal with these issues. As the government has seen programs for change come and go, there are those who have started to think outside the box.
Cheap oil should be good economic medicine for almost anybody who isn't trying to sell the stuff. Yet only one country has been able to take full advantage of the 14-month collapse in the price of crude: the U.S.
When it comes to corruption, all industries suffer from some sort of unethical practices. Every industry has its particular procedures when dealing with these types of issues but as more businesses become increasingly common, making sure you track the problem becomes harder. This means procedures and process have to be able to morph into the changing landscape of the corruption and bribery world. Of course tackling corruption and bribery is no easy task and many different measures have been put into place in order to follow, mitigate and ultimately end corruption.
Corruption is a growing issue for countries large and small, which hinders the publics trust towards the government and prominent leaders. In a recent report released by Transparency International, the corruption perception indexes of all countries for 2014 were shown. The image reflects countries that are either highly corrupt, in the middle, or very clean.
Pressure is mounting, as the themes of corruption and bribery are becoming major topics of discussion in global markets. With increased demands for goods and the constant bombardment of international competition entering in markets, corruption cases across the world have been increasing. Industries large and small are looking for ways to enter into government contracts for long-term deals, and as competition between industries rise, so does the growing possibilities of corruption and bribery.
In an era of growing globalization and where the demand to stay atop the world leading markets is crucial to stay afloat in business, corruption within the economical atmosphere is an ongoing issue for companies and governments. The drive for even greater transparency grows between these two entities and the effort to become more accessible as well as more responsible is crucial.