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Management 5 Pages

Bid Rigging

Question

The Ethics paper on bid rigging will consist of five (5) pages double-spaced (not including title and reference pages), APA format, and in research paper format.

Solution

Title: Bid Rigging
Length: 5 pages (1375 Words)
Style: APA

Preview

Bid Rigging

1.0 Introduction

            Most established organizations acquire their supplies through the bidding process, to enable them select the best supplier in terms of lower prices or better terms of purchase, including credit purchase among other factors. However, the bidding  process may not enable the organization to achieve the benefits that bidding brings along in case the process is not transparent. Bidding may be accompanied by events of fraud, especially if the suppliers collude to determine the winner of the supply tender in advance. Suppliers may engage in  such malpractices to achieve a supply tender at a price that is higher than the prices in the market, and generate higher  profits from the tender. The bid rigging practice is illegal in most countries, as it contributes to most organizations incurring unfair costs in the tendering process, which reduces their profit margins. This paper explores the concept of bid rigging, explaining the various forms of bid rigging, and the solutions available for organizations to prevent bid rigging in their tendering processes.

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