Essay Example on Daimler: An Icon of Luxury and Innovation Since 1886

Introduction

Daimler is ranked the second leading luxury vehicle assembler in the universe after the BMW. Mercedes-Benz is Daimler's renowned core brand. Despite the Mercedes-Benz marque, the company is also recognized for other numerous classy commodities, which include the Freightliner, the Maybach, and lorries. Since the company was founded in 1886, it has ensured maintenance of standards in areas of innovation. It has also provided safety in the vehicle industry internationally

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Lately, the international environment of business has been traumatized by various multiple outrages such as those experienced by the Daimler company. In this essay, I am going to illustrate the different bribery charges Daimler company experienced under the Foreign Corrupt Practices Act (FCPA). These charges prompted the company to make lump sum payments in millions of dollars to the civil and criminal penalties for engaging in corrupt commercial practices in numerous emerging nations.

I will also provide conventional core values, policies, and principles that help in commercial activities irrespective of the environs in which they carry their businesses. Moreover, this essay illustrates the way in which the New York Times newspaper exposed Daimler company in March 2010. The newspaper claimed that the company was about to settle a court dispute whereby it had planned to accept to the bribery charges and part away with an entire fine of $185 million. It also delivered comprehensions into the filing of court where it stated that the organization had produced hundreds of inappropriate payments valued at tens of millions of dollars to extraneous officials.

Moreover, this essay elaborates further and in depth the following different methods that the company designed to ensure they curbed the practice of bribery. They included the following;

Appointment of confined compliance administrators in all its units of business. These administrators were required to report to the official head of compliance.

Consistent seminars of training and holding conferences to educate employees on compliance rules.

Relevance to Daily Life

According to the allegations made, the company had bribed administrators in 22 nations in over a decade. Precisely, it made use of overseas accounts to hand the bribes to the government administrators. This aids in offering caution to the government administrators who have inadequate knowledge about the consequences of bribery. It also helps them know the various ways in which renowned companies bribe their clients they deem to be potential.

The essay outlines the various unethical commercial practices which the company endorsed in numerous nations. For instance, the company hiked invoice prices in Russia and later handed the capital to government administrators. This will help in prompting the customers to be more keen whenever they are engaging in various business transactions.

Conclusion

In conclusion, the essay provides awareness to the various stakeholders and shareholders of various companies. A company is entitled to notify its stakeholders and give assurance whenever a certain activity is experienced. This was demonstrated by Daimler company when it assured its stakeholders that there were adequate finances to pay for criminal and civil penalties.

The company delivered very comprehensive information concerning the payment that the company had arrived with the department of justice too.