Baker Hughes - 1028 Words

FOREIGN CORRUPT PRACTICES ACT 1. Discuss the economic and social impact of brides and other similar payments in emerging economies. Corruption can take many forms and can be found in many countries, but mainly in the emerging ones. The main form of corruption is the bribery in the form of payments demanded by the government or ministry officials in exchange for a favor (granting a service, awarding a business).Corruption affects all the businesses that interfere with the government, but studies have shown that certain industries are more exposed to it. These industries are construction, airline manufacturing, power plants, and oil and gas production. In emerging economies the impact of bribes and other similar payments can affect†¦show more content†¦Overall new procedures put in place were beneficial for Baker Hughes because they improved compliance and they also improved the company’s business operations. 5. Discuss whether the payments outlined on pages 12 and 13 are foreign corrupt practices. Yes, I think that the payments outlined on pages 12 and 13 should be considered corrupt practices because of the way they were registered in the company’s books -it was in compliance with the FCPA because of the anti-bribery provision and the books and records provision. 6. Evaluate whether the changes in Exhibits 4 and 5 are likely to stop future foreign corrupt practices at Baker Hughes. All the changes in Exhibits 4 and 5 are related to the agents that Baker Hughes will use in the future. The changes in Exhibits 4 and 5 are likely to stop future corrupt practices at Baker Hughes because they will provide the company with more information about the agents that they are about to hire (information that they didn’t have before). The information is referring to agents’ background, competence, reputation, their intentions, experience, skills, and their integrity and willingness to comply with FCPA. So Baker Hughes will be able to prevent and eliminate any acts of corruptions. 7. Discuss how the compliance and governance changes are likely to impact the future profits and shareholder value at Baker Hughes. The compliance and governance changes implemented at Baker HughesShow MoreRelatedThe Risk And Uncertainty Of Halliburton1816 Words   |  8 Pagesconsolidation with Baker Hughes, another competitor in their industry (Halliburton And Baker Hughes Reach Agreement to Combine in Stock and Cash Transaction Valued at $34.6 Billion. p. 1). With this consolidation, Halliburton will acquire all assets of Baker Hughes, along with the future subsidiary’s debts. With the uncertainty of the lifetime of the oil industry, and currently facing a significant loss, Halliburton is taking a serious risk facing such a large amount of debt and acquiring Baker Hughes. DiscussionRead MoreCompany Case Study : Halliburton Company1031 Words   |  5 Pagesare strong and sustainable barriers to entry with Halliburton Company, it means that they can preserve a favorable position. B. SWOT analysis C. Competitive analysis Competitors: 1. Schlumberger 2. Weatherford International 3. Baker Hughes Accounting principles: Halliburton Company applies some accounting principles and guidelines as listed below: i. Recognition of the current asset or tax liability in order to establish estimated taxes payable or refundableRead MoreSchlumberger Logistics Report941 Words   |  4 Pagesmanufacturing, testing, and assembly to countries with possibly low cost of operations which coincidentally may also be where the market for their products services are experiencing growth. Schlumberger’s closest competitors are Halliburton and Baker Hughes. I remembered a former Colombian senator once said if these three companies vanished overnight, the world’s energy system would start to break down in a couple of days. His point of view was settled to clarify how important these companies haveRead MoreBaker Hughes Incorporated ( Bhi / Nyse )858 Words   |  4 PagesBaker Hughes Incorporated (BHI/NYSE) Baker Hughes is a top-tier oilfield service company that is headquartered in Houston, Texas. The company provides oil and gas exploration and production companies worldwide with products and services for drilling, formation valuation, production, and completion. Baker Hughes also provides services for downstream segments of the oil and gas industry. Technological innovation is at the center of Baker Hughes’ success. The company is over 100 years old, with 60,000Read MoreCorporate Social Responsibility : Baker Hughes1158 Words   |  5 PagesIntroduction Baker Hughes headquarters are located in Houston Texas and is a company that participates in the global petroleum industry and offers products and services for finding, evaluating, drilling, extracting, and producing hydrocarbons. (BakerHughes) These services operate in the Americans, Europe, Russia, Africa, the Middle East, and Asia Pacific. According to the last fiscal year, Baker Hughes has 24551 million dollars in revenue and makes a profit of 1719 million dollars. With the helpRead MoreBaker Hughes: Foreign Corrupt Practices Act Study Questions1020 Words   |  5 Pagescorrupt practices, it will help deter employees from engaging in the practices. 4. Discuss the pros and cons of the two groups(independent investigators and blue-ribbon experts) used by Baker Hughes. The pros of the independent investigators were that they were from a firm separate from Baker Hughes, and did not provide any other legal work for the company. This allowed them to report to the board objectively. It is a pro that there is no conflict of interest because they have no otherRead MoreEssay about Josephine Baker2425 Words   |  10 PagesJosephine Baker While Jim Crow laws were reeking havoc on the lives of African Americans in the South, a massed exodus of Southern musicians, particularly from New Orleans, spread the seeds of Jazz as far north as New York City. A new genre of music produced fissures in the walls of racial discrimination thought to be impenetrable. Musicians such as Louis Armstrong, Duke Ellington, King Oliver and Fletcher Henderson performed to the first desegregated audiences. Duke Ellington starredRead MoreHarlem, New York552 Words   |  2 Pageswas a time when African American Artist, Writers, Dancers, Musicians, and Doctors decided to show the world how spectacular they were. Duke Ellington, Billie Holiday, and Langston Hughes were just a few famous names that arrived during this time. One sensational woman stood out among the rest, her name was Josephine Baker. She took a stand and fought for what she believed in, she was a strong and passionate women and she never let anyone get in the way of the things she loved to do. No matter how risquà ©Read MoreEssay on A Universal Renaissance Man1291 Words   |  6 PagesA Universal Renaissance Man James Mercer Langston Hughes was born February 1, 1902 in Joplin, Missouri, to school teacher Carrie (Caroline) Mercer Langston and James Nathaniel Hughes. Hughes’ father left his family, and later divorced Carrie moving to Cuba, and then Mexico trying to escape the racism in the United States. Since his mom traveled looking for work, young Langston was being raised by his maternal grandmother, Mary Patterson Langston in Lawrence, Kansas. She told him stories of abolitionistRead MoreThe New Negro Movement, By Zora Neale Hurston1720 Words   |  7 Pagesand now, how it begun after World War 1,who were the influential people during that time period, literature/poetry, the Jazz Age, art, and how it ended due to the Great Depression. Innovator of Jazz poetry among other contributions, Langston Hughes once quoted â€Å"An artist must be free to choose what he does, certainly, but he must also never be afraid to do what he might choose.† This is an example of the mentality African Americans possessed during the time period of the Harlem Renaissance