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Boiler Room Essay

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Submitted By melbry0103
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ENGL 1561 Business Writing
Final Assignment
Melissa E. Bryan
Laurentian University
March 31, 2014

Ethics can be defined as having standards of moral behavior that is accepted by society as right or wrong (Nickels, McHugh, McHugh, Cossa, & Sproule, 2013). In day-to-day life, the decisions made in ethical dilemmas can be very situational. There does not seem to be a clear set of rules and because of this, unethical situations and decisions arise. The term boiler room refers to an outbound call center where telemarketers use high-pressure sales tactics to sell fake stock (Farlex Inc, 2000). Modern boiler rooms disappeared in the 1990s but they still exist in various forms. With the widespread use of the internet and lack of government regulation on web site creation, a boiler room can set up a website in one country, operate from another and target victims in a third. This makes it very difficult to identify the scamming stockbrokers and even more difficult to trace them. Many people have grown wise to the phone scams thanks to warnings from financial authorities and the increased value of ethics (Wikipedia, 2014). In the business world the practice of ethics has become increasingly important, not only for moral reasons but to maintain a competitive advantage (Smith, 2012). This essay analyzes the movie Boiler Room and the ethical dilemmas presented in respect to business ethics models. Real life ethical dilemmas that traders in the stock market are faced with, the ethical decisions facing whistle blowers and the relationship between ethics and social responsibility will be discussed.
There are three models of ethics, the Utilitarian model, the Moral Rights model and the Justice model (Jones, George, Haddad, & Rock, 2013). The characters in Boiler Room make unethical decisions under each of theses models. The first model, the Utilitarian Model,

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