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This page will discuss a speech on Corruption in Business and Corporate Practices for school students. Corruption is like the plague, it can cripple economies and severely affect everyone in society. It does not have any borders or limitations. The greed for money and power gives rise to corruption, and very soon, it disturbs the smooth functioning of society. Check out this speech on corruption in business and corporate practices.
3 Minute Speech on Corruption in Business and Corruption Practices
| ‘Good morning, respected teachers and dear friends. Corruption in business and corporate practice is like the plague, it can cripple economies and severely affect everyone in society. It is an unethical and immoral practice that erodes social trust and distorts markets. When a person becomes greedy and seeks power and money, he or she turns to unethical and illegal means. The Corruption Perception Index 2023 ranked India at 93rd position, with only 39 points. Firstly, corruption perverts competition by offering advantages to those willing to cheat. Honest businessmen are pushed aside, while prices are kept inflated artificially for consumers. Secondly, backroom deals and bribing in the business corridor do not serve the purpose of increasing investment and innovations from entrepreneurs because the barriers to entry become even higher than they should. Investors are often unwilling to take risks in an environment that rewards morally lazy cheaters. Thirdly, corruption erodes the rule of law. When powerful companies can afford to buy access and bend the regulation to their benefit, when the golden rules of the game are distorted by those who should be advancing the public interest, the faith in the rule of law will suffer. Instead, it will promote trust deficit in institutions, and cultivate a culture of impunity that is conducive to those that perpetuate the cancer exactly because they believe that they will get away with it. Fourthly, corruption enhances inequality. When money is sent back and siphoned off from areas of much-needed services such as health and education, rather than invested in development, the very few will continually get richer while the poor will continue to remain poor. They two will continue to grow further apart unless strenuous efforts are made. The first step in combating corruption in business and corporate practice is making sure that it is named and shilled every time it is found. The law must be strengthened against corruption. Independent to regulatory bodies that need to be established. The need for openness must be made apparent and destructive culture of secrecy must be abolished. We must create a culture of looking up to and embracing ethical leadership and corporate governance in our business and corporate practices. Thank you!’ |
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Paragraph on Corruption in Business and Corruption Practices
| Corruption in business and corporate practices is a pervasive issue that undermines the integrity of our economic system. From bribery and embezzlement to fraud and kickbacks, unethical conduct erodes trust, distorts markets, and stifles competition. Its consequences are far-reaching, impeding economic growth, perpetuating inequality, and eroding public confidence in regulatory frameworks. To address this challenge, companies must prioritize transparency, accountability, and integrity, while regulators must strengthen enforcement mechanisms. As individuals, consumers, and investors, we have a collective responsibility to demand ethical behaviour and hold corporations accountable for their actions. By fostering a culture of integrity and upholding ethical standards, we can build a business environment that thrives on trust, fairness, and sustainability. |
Quick Read: Media and Corruption: Short and Long Speech
FAQs
A.1 Good morning, respected teachers and dear friends. Corruption in business is like the plague, it can cripple economies and severely affect everyone in society. It is an unethical and immoral practice that erodes social trust and distorts markets. When a person becomes greedy and seeks power and money, he or she turns to unethical and illegal means. The Corruption Perception Index 2023 ranked India at 93rd position, with only 39 points.
A.2 A conclusion should include a clear review of the main points of the speech. The purpose is to remind the audience of the main ideas that were covered in the speech.
A.3 Speech delivery practice:
Stand tall—do not hold or lean on the podium.
Come out from behind the podium during the speech. Makes an impact, especially after the speech.
Use gestures. Be sure gestures can be seen.
Make eye contact. It is easy with a podium to look down especially if you have notes or outlines.
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