CORRUPTION IN BUSINESS: CORRUPT BEHAVIOUR INSIDE BUSINESS ENVIRONMENT

Abstract

Corruption has become a widespread phenomenon in all respects, it significantly affects the prospects for economic growth, especially in developing countries. Entrepreneurs and experts agree that a high level of corruption negatively affects the investment climate and creates a hostile business environment, being deeply rooted in business as an integral part of business processes. Entrepreneurs and experts agree that a high level of corruption adversely affects the investment climate and creates a hostile business environment, being deeply rooted in business as an integral part of business processes. Corruption in the public sector generates corruption in the private business environment, which makes the understanding of the specific features of business corruption risks, their factors and countermeasures particularly important, which is the subject matter of this article. The goal of this article is to focus on the main aspects of corruption in various spheres of business, to interpret them properly and to prevent corruption risks, which is the basis of the effective and ethical business. The analysis of foreign literary sources has shown that scientists often neglect the problem of corruption in business and business relations, focusing on the government and public sectors. Nevertheless, the cases of corruption in business are very common and pose a significant risk to the well-being of a company. The objective of this work is to study the specifics of corruption within the business environment and to consider the state of corruption in the international business environment. Using general logical-analytical methods, this article deals with the study of the nature of various types of corruption behaviour in business relations, objects and consequences. As a result, the main types of corruption behaviour are identified, among which there are three groups: fraud, bribery and the conflict of interest. Each of the identified groups includes the corresponding forms of corrupt behaviour that are typical for the business environment. Based on the analysis, the ways for minimizing corruption risks in business are proposed by developing the comprehensive anti-corruption policy of an enterprise. The conclusions were made about the main components of this enterprise policy and recommendations were made for its implementation, which will minimize the corruption behaviour within the business environment.