What are the effects of Corruption? Mention any 5 effects in points. (Waiting for an answer to mark as the brainliest)
Answers
Answer:
Corruption is a constant in the society and occurs in all civilizations; however, it has only been in the past 20 years that this phenomenon has begun being seriously explored. It has many different shapes as well as many various effects, both on the economy and the society at large. Among the most common causes of corruption are the political and economic environment, professional ethics and morality and, of course, habits, customs, tradition and demography. Its effects on the economy (and also on the wider society) are well researched, yet still not completely. Corruption thus inhibits economic growth and affects business operations, employment and investments. It also reduces tax revenue and the effectiveness of various financial assistance programs. The wider society is influenced by a high degree of corruption in terms of lowering of trust in the law and the rule of law, education and consequently the quality of life (access to infrastructure, health care). There also does not exist an unambiguous answer as to how to deal with corruption. Something that works in one country or in one region will not necessarily be successful in another. This chapter tries to answer at least a few questions about corruption and the causes for it, its consequences and how to deal with it successfully.
Explanation:
Answer:
Organisational impacts of corruption
financial loss
damage to employee morale
damage to organisation's reputation
organisational focus and resources diverted away from delivering core business and services to the community
increased scrutiny, oversight and regulation.
Individual impacts of corruption
disciplinary action
termination of employment
criminal charges
may affect relationships with family, friends and colleagues.
Community impacts of corruption
wasted taxpayer funds
loss of goods and services
lower community confidence in public authorities
disadvantage to honest business that miss out on government contracts.