A blairing fact in a under developed economy is - corruption. do you accept it as cost of doing business or repel it which may hurt business needs?

Heavy topic.  It may not seem as obvious in developed countries but they have their own corruption, it's just more behind the scenes and institutionalised - it's less random and more organised.

I'll give some examples - I know of a1st world country where in some parts it became normal to bribe doctors for procedures normally paid for entirely by the state but for which there was a waiting list.  In another area there were separate forms and procedures for health care if you were famous or rich, so you didn't wait at all.

There are places where the only way to get things done is through corruption - where corruption is the system, unfortunately.  Some of these places are developing, and the problem is often capacity - the system isn't robust enough to support the population - for education, migration, transit and so on.  There, we need to either walk away, or assist to build relationships and increase capacities through assistance in implementing more advanced procedures and systems, we can set the example.

I find it insulting and maddening when someone asks me for a bribe to do their job.  It leaves a terrible impression of a country.  It behooves us all to not participate in the corruption of the system as it's inherently unfair to us all.  If we all say no to corruption it can be limited.  Corrupt officials need to be shoved aside, and systems need to be developed to support the capacity required.

Curroption is a fact in all sort of economies. The intensity or occurance of incidents may vary in under developed and developed economies. Its a cost of doing business because such economies offer high returns and low cost of doing business. Entrepreneurs are risk takers. Curruption could be positive catalyst for speedy execution of preferred projects:)