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Alcoa Corporation claims it is devoted to performing all its activities globally, ethically, and legally. However, it is impossible to exclude the risk of corruption. In 2014, Alcoa Inc. and a joint venture it controls agreed to pay $384 million to settle accusations of bribing officials of a Bahraini state-controlled aluminum smelter, making it one of the most significant anti-corruption settlements in the United States (Bowers). There will always be someone who does not align perfectly and acts in their self-interest, no matter how hard one strives to find individuals with high morals and teach staff about the work culture. The revised code of conduct implemented in 2014 will prevent occurrences by enforcing standards and providing staff with new and updated training. While this might help to correct and reinforce the norms, it will not remove all alternatives.
Corporations operate within a society, and their activities have an impact on the environment in which they do business. As a result, it is in a corporation’s best interest to contribute to the welfare of society rather than its degradation (Chen). For example, business corporations are responsible for preventing inflicting harm to the community (e.g., pollution). Business corporations have comparable responsibilities to prevent exploiting staff. Furthermore, they are not obligated to use their economic and political influence to win legislation that is unfairly advantageous to them (such as artificial barriers to the entry of competitors into the market). Corporations must strive to offer secure, well-paying, meaningful employment, provide goods and services that meet human needs and create profit for investors (Chen). Overall, they should also be prepared to address unmet and perhaps unprofitable demands in their domains of activity.
Works Cited
Bowers, Simon. “Aluminium Firm Alcoa to Pay $384m after Guilty Plea in US over Bahrain Bribes.”The Guardian, Web.
Chen, Chih-Cheng, et al. “The Role of Corporate Social Responsibility and Corporate Image in Times of Crisis: The Mediating Role of Customer Trust”. International Journal of Environ Research and Public Health, vol. 18, no.16, 2021.
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