Essay on fraud and cutthroat competition in business

Introduction

Faking it until you make has become the daily invisible tactic for new and developing businesses to easily gain a larger share of the market. The legalities and rules set by business corporations have made it seem to be impossible for Small and Medium Enterprises to enter the competitive world of business. Due to this challenge, the SMEs shift to the cheaper and most effective way which is gaining fast grip of the consumer’s attention which involves working against the law. Fraud on competition has of late increased in the business world.
Businesses tend to add ghost positive figures in their advantages to build a strong goodwill in their customer’s image. For example, they will provide an overstated balance of capital to show extra investments that are no truly present. This fraud cunningly lures investors and creditors who invest on the organisation with an utmost good faith. The firms then use the funds collected and invest with them to manage and grow the business.
On the other hand, spreading of negative information to tarnish their competitors name is another form of competition fraud. The competing business uses some of the organisations weaknesses to prove there incompetence in operation. The allegations are often true but are always exaggerated to an extent of giving a wrong implication and information about the organisation to the public.
Consumers are entitled to accurate, true, influential and beneficial information from the producers. This implies that the consumers can successfully sue the producers or advertisers if the information given to them is misleading or doesn’t match the end results after using the case products or services.
Inversely, large monopolistic firms that have already set their basements in the market tend to manipulate the smaller firms by making it hard for them to join the market. This, they do by strategies like setting up of relatively setting up very low prices that the upcoming business can’t offer. This leads to the small companies’ termination due to failure to the intense pressure exerted by these leading companies. It is at this point when the company regulation acts comes in and implements rules that protect and encourage emergence of new Small and Medium Enterprises.
In the science fictional movie, “ Inception” published in the year 2010 under the director Christopher Johnathan James Nolan, a large ensemble of famous actors involving the talented Leonardo Dicaprio, Ken Watanabe, Ellen Page and Joseph Gordon-Levitt who are some of the prolific actors featured in this historic movie.
Dom Cobb is a thief who indulges in commission of a corporate espionage through infiltrating his target’s subconscious. As many businesses in the current market, Cobb possess those looks that are extraordinarily attractive as to reveal the complete opposite of the inner composition of the individual. With extraordinary extraction powers, he uses this ability to illegally penetrate deep within his targets’ subconscious during the dreaming state which is the human brain is in its most vulnerable sate and exclusively manipulates and takes every beneficial information and sells it at very high prices.
He is offered a chance to regain his old life as payment for a task that everyone considers to be impossible and behold their ability. He manipulatively exploits his targets and associates through pretence of being a good, trust-worthy and rather helpful individual with no intension to harm anyone.
Leonardo fully understands the strengths and weaknesses of his work mates and he uses their weak points to collect lots of data from them. This characteristic has on the contrary made him an international fugitive that cost him almost everything he has ever owned and loved.
In relation to the business world, most of the firms that indulge in cutthroat and fraud businesses, find themselves in a huge load of trouble when their cunning ways are openly revealed to the public who make them succumb to the shame of taking in the side effects of deceiving their trustee customers. In this step, some of the affected individuals may opt to take aggressive measures against the business or opt to completely terminate and withdraw from the business transaction with the organisation.
As the movie unravels, Cobb is luckily offered a chance to change of redemption through which he would either recover his diminishing goodwill or complete spoil the good reputation he had earlier built in his trustee’s minds.
In the business world, not many of the firms that engage in fraud get a chance to rebuild their reputation. Those that get this chance are guided by very strict measures to ensure adherence to the business ethics. Inception is the ultimate quest assigned to Cobb of pulling a reverse stunt on the contrary of what they were previously doing. In this task, Cobb is reassigned the job to plant an idea in the targets mind.
This fully relates to organisations that are on the contrary required to invest in activities that only benefit the customers as promotions and issuing of samples to cover for the losses suffered in their fraudulent and cutthroat activities. it is a move that helps remove the ill idea in the consumers’ mind about the business.
The book, “ Business Law Today” by Roger Leroy Miller & Gaylord A. Jentz, standard Edition is an exact replica of the types of business frauds and cutthroat transactions that take place in today’s business world. The book clearly offers the readers with a credible source of business law that motivates the students to read further to gain more knowledge applicable in the business world (Miller, pg. 3).
Miller and Jentz exclusively analyse the types of business frauds and the effects they impact on third parties and who include the creditors, debtors, customers, the government and the business it. For example, understating of its balance of capital will lead to collection of less tax by the government of which is extremely illegal. The authors give a wide range of comprehensive lessons and teachings to support their package’s impact on the target market since it comfortably fits in different learning and institutional styles (Miller, pg. 178).

Work cited

Miller, Roger L. R, Gaylord A. Jentz, and Roger L. R. Miller. Business Law Today: Comprehensive Edition : Text & Cases : E-Commerce, Legal, Ethical, and Global Environment. Mason, Ohio: South-Western Cengage Learning, 2012. Print.