...Ethics during Change Kenneth Anderson MGT / 426 October 13, 2014 Alex Luna Ethics during Change Ethics is defined as “The basic concepts and fundamental principles of decent human conduct. It includes study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for health and safety and, increasingly, also for the natural environment” ("Ethics", 2014, para. 1). Ethics in the workplace is important to help keep structure, to make sure that the organization runs efficiently and stays profitable. Each organization makes its ethics known immediately when hiring an individual, or during the interview. In this paper, we will talk about ethics and its outcomes during a change plan, and most important how the employees change behavior during the changing process. Ethical culture is something that is over looked while implementing a change even through the organization has a conduct of ethics and conduct manuals. With technology changing in the business sector, often morals and ethics is the last thing senior management and supervisors have a habit of overlooking. When the organization changes, the whole thing, including the ethical culture of the organization. Surprisingly if the organizational culture change, the workplace ethics will change also. Ethics and Change Throughout the early stages of change, there will always be resistance to new changes. One apparent motive of resistance to...
Words: 1037 - Pages: 5
...within the organization to motivate them. 4) Best Reward System Analysts felt that Infosys Technologies Ltd had one of the best reward systems in the industry. Most employees in Infosys Ltd were paid high salaries as compare to other employees in the industry. Also there are some monetary and non monetary benefits like compensation, overtime etc. that Infosys gives to its employees to motivate them. 5) Open (Effective) Communication Employees in Infosys Ltd were encouraged to communicate with each other and with higher management about interesting ideas and ways of solving problems. 6) Good Leadership Style Narayana Murthy set up a leadership institute in Mysore, India which aims at preparing Infosys employees to face the complexities of a rapidly changing market place. Narayana Murthy said it is...
Words: 804 - Pages: 4
...Ethical Breaches and Environment Ethics is an important aspect of business in today’s environment. Sometimes management ignores or leaves to state laws to govern the code of ethics within a company. Companies have faced a lot of issues regarding ethical situations in modern times. Making ethical decisions in accounting is growing in complexity because of the larger number of stakeholders in business, and the greater responsibility on accountants. In the early 2000s many financial and accounting scandals went public in the media. As a result the practice of accounting in recent years has evolved drastically and greater accountability and consequences have been issued to corporations. In the United States authorities made many headlines with companies who practiced fraudulent activities, such as Enron, to serve as a warning to those who dare break rules in the future. The Organization Enron, According to (Eichenwald, 2006), was a U.S. energy-trading and utilities company that housed one of the largest accounting frauds in history. The company was based in Houston, Texas. Enron employed about 20,000 people and was the world’s largest natural gas, electricity, communications and pulp and paper company. As reported by Fortune.com, Enron had revenues of nearly $101 billion during year 2000. Fortune also named Enron “America’s Most Innovative Company” for six consecutive years. Accounting Ethical Breach Enron’s downfall, and the imprisonment of several of its leadership group...
Words: 765 - Pages: 4
...Coping With Financial and Ethical risks AT A.I.G 1. American International Group’s headquarters is located in the American International building in New York. It is a company that is primarily engaged in insurance-related activities in the U.S and abroad, and offers services in more than 130 countries with 116,000 employees worldwide. AIG’s four major segments are general insurance, life insurance and retirement services, financial services and asset management. It was ranked as 16th in Fortune 500 in 2010 and was also known as the world’s fourth largest company according to “Global Forbes” in 2000. The company’s leading position in the global financial services market gives it significant bargaining power. However, exposure to the U.S sub prime crisis was the reason for its collapse. The AIG Financial Products unit, unfortunately, was operating as a company within the larger company in that the 500 employees of the unit who specialized in derivatives and complex financial contracts that were tied to subprime mortgages, sold credit default swaps (CDS) to financial institutions who in turn sold mortgage-based securities to the public. This of course contributed to the financial crisis of 2008 in that banks sold mortgages to people who were not credit worthy, because they received credit protection as a result. AIG made these collateralized debt obligations deals with a very small fraction of actual money on hand. Because most of the CDOs were attached to home mortgages...
Words: 702 - Pages: 3
...Daniels Fund Ethics Initiative University of New Mexico http://danielsethics.mgt.unm.edu Integrating Business Ethics in Business Courses INTRODUCTION Teaching business ethics requires an understanding of the organizational dimensions of ethical decisionmaking. Although most people believe that employees learn to be ethical at home and school and through life experiences, the work environment creates challenges for even the most ethical person. For example, employees cannot always make independent ethical decisions due to a corporate culture that has many types of managers and employees using their own concepts of right and wrong. Managers sometimes pressure employees into questionable activities. However, business ethics becomes more transparent once an organization establishes codes of ethics, as well as compliance requirements and ethical leadership. The objective of this chapter is to provide some essential strategies for integrating business ethics into business courses. The authors examine the role of stakeholders, implications of the global financial crisis, and important issues in teaching business ethics, as well as providing resources to integrate business ethics successfully into a course. THE IMPORTANCE OF BUSINESS ETHICS Business courses provide an essential and dynamic foundation for students developing their business careers. Although it is important to teach many traditional concepts such as human resources and marketing, emphasizing emerging topics that are...
Words: 7020 - Pages: 29
...MGX5020 Ethics and Business Corruption Tutor: Jeremy St. John Ash Khan (23757175) Yan Che (24584193) Li Junyi (21771138) 9/21/2012 Introduction: Corruption is defined as wrongdoing on the part of an authority or powerful party through means that are illegitimate, immoral or incompatible with ethical standards. Business corruption has been one of the major ethical issues facing the world in modern times and there has been a lot of debate in regards to the motives of the companies that participate in it. Some even argue that corruption is not solely down to lack of honesty but more as a tool that is required to survive in the current market due to increased competition, market conditions etc. In this paper, we would try to develop a knowledge based framework to understand the motives and consequences of business corruption through an ethical perspective. In analysing the ethics of business corruption, this paper will focus on 3 different ethical theories; Kohlberg’s theory of cognitive moral development, Consequentialism and Deontological ethical theories. Each theory represents different standpoints and arguments in as to the motives behind business corruption. Literature Review: Transparency International, the leading anti-corruption nongovernmental organization, “has chosen a clear and focused definition” of corruption as “the misuse of entrusted power for private gain” (Transparency International, 2008a). According to Professors Dunfee and Hess...
Words: 2707 - Pages: 11
...Globalization Effects on Culture, Business Ethics, and Leadership: A Managerial View Introduction The world’s economy has developed and changed dramatically throughout the years and continues to do so. We are quickly moving away from a world where each country’s economy is isolated and more towards a world with an interdependent global economic system. This interdependent global economic system is commonly referred to as globalization (Saee 2005). The book written by John Saee, Managing Organizations in a Global Economy: An Intercultural Perspective, suggests that the growth of global trade, cross-border investments, mass migration, large-scale tourism, and much more has turned the world into more of a “global village” (Saee 2005). While globalization has effected nearly every aspect of human civilization, it has created some very serious concerns for managers whose organizations and firms already are or are planning to be involved in business transactions that take place outside of their domestic environment. If companies and corporations want to be successful in today’s economy, then it is important for managers to have a thorough knowledge and understanding of different types of cultures, business ethics, and ways of leadership, and the implications that these differences will have on their businesses. In this paper, we will discuss the effects that globalization has had on managers with respect to culture, business ethics, and leadership. Culture Globalization...
Words: 2915 - Pages: 12
...FORD’S CEO ALAN MULALLY A NEW APPROACH TO DECISION MAKING 1.0 According to Rowe and Mason (1987), each decision style elicits specific traits and/or preferences. For example, the following decision making styles of analytical, behavioral, conceptual, and directive, respectively prefer specific facts, accurate and complete data, broad coverage of many options, and limited data that are easily understood (Rowe & Mason, 1987). Further, Rowe and Mason (1987) believe that style descriptors should be able to describe an individual’s mental predisposition, cognitive process, and problem solving ability. They also deem that the style descriptors can be contextually explicit—describing the environment in which the decision is being made (Rowe and Mason, 1987). These theorists describe four elements of an individual’s decision style. The four elements are: • Perception and reception to stimuli, • Capacity to handle information and to reach a meaningful conclusion, • Intuition or creativity to develop alternatives, • Dexterity to make a decision (Rowe and Mason, 1987). Rowe and Mason’s model provides general descriptions of each style through specific categories such as organizational fit, problem orientation, level of tolerance for ambiguity, technical concern, leadership, and major criticism. The general descriptions of each decision style are as follows: Analytical Style This style is characterized by a problem solving and intellectual orientation. These...
Words: 1072 - Pages: 5
...Corporate Governance Issues and Responsibility On the basis of the principles and rules outlined by the New Zealand Security Commission and code of ethics adopted by NZFSU and PGGW Wrightson in their company’s prospectus, they have failed to follow good corporate governance in their companies. In this case study, there were many corporate governance issues and some of them are highlighted below Board Composition and review: There was imbalance of independent and non independent directors in the board. Craig Norgate, who was the Chairman of PGG Wrightson failed to promote cooperation and efficiency amongst the board members, and was unsuccessful in trying to maintaining good relationship between the management and the board. The Chairman of NZFSU and PGWW failed to comply with the rules of Corporate Governance that, there should be a mix of balance and skills according to the size and complexity of firms, and in this case study, there were fewer independent directors and the need of them were felt by NZFSU, when the company’s current directors were unable to cope up with the failure of the company The board need to achieve the right mix, and should choose directors who have the required skills and knowledge and can contribute to achieve the goal of the company and provide more benefits to the shareholders. There should be a rigorous process for nomination and selection procedure of a director. The Chairman of Boards of PGG Wrightson and NZFSU, were accused in not disclosing...
Words: 2250 - Pages: 9
...Discuss For the past few years there has been lots of discussion about Corporate Social Responsibility. Most of the multinational companies issue every year a report on their practices. They try to get involved into communities, fight the poverty in the third world countries and donate millions of ponds every year to charities to as they say “build the better future”. But are their corporate social responsibility statements effective ways of ensuring that multinational entities act ethically? From my point of view, CSR statements do not ensure that practices of companies obey the rules of business ethics and I am going to present a few arguments for. Corporate Social Responsibility is fairly recent term and maybe that is why there is no consistent definition for it. Most multinational companies use different terms in their reports, for example Shell defines it as ‘sustainable development’, Ford uses the phrase ‘connecting with society’, Diageo prefers the term ‘corporate citizenship’. All these expressions, although they have different meanings, are related to Corporate Social Responsibility but because of the proliferation of approaches, every company can put emphasis on something different, creating therefore complexity and confusion. What is more, the socially responsible company not only complies with minimum requirements of the law, but goes a step further and accepts social obligations beyond that. The first argument for, that the CSR statements are not effective ways...
Words: 977 - Pages: 4
...What is International Business? International business consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations. Learning Objectives To understand the history and impact of international business. To learn the definition of international business. To recognize the growth of global linkages today. To understand the U.S. position in world trade and the impact international business has on the United States. To appreciate the opportunities and challenges offered by international business. Introduction: International business is a term used to collectively describe all commercial transactions (private and governmental, sales, investments, logistics,and transportation) that take place between two or more nations. Usually, private companies undertake such transactions for profit; governments undertake them for profit and for political reasons. It refers to all those business activities which involves cross border transactions of goods, services, resources between two or more nations. Transaction of economic resources include capital, skills, people etc. for international production of physical goods and services such as finance, banking, insurance, construction etc. A multinational enterprise (MNE) is a company that has a worldwide approach to markets and production or one with operations in more than a country. An MNE is often called...
Words: 3329 - Pages: 14
...A Windfall Plagued by Poor Decisions BUOL 537: Legal, Ethical and Social Environment ABSTRACT Everyone in both the business and non-business sectors alike have probably heard of a financial ploy called a Ponzi scheme. However, many may not fully understand the details or how to protect themselves from such a financial risk. A Ponzi scheme is a fraudulent investment plan in which the investments of later investors are used to pay earlier investors, giving the appearance that the investments of the initial participants dramatically increase in value in a short amount of time. These types of financial schemes promise investors large interest returns if they provide money as a loan. As more new investors participate, the money that is contributed by later investors is paid to the initial investors, allegedly at the promised interest on their loans. This method works initially, but will then fold as more investors participate and choose to take withdrawals. Though these types of schemes have happened before, the first of this caliber was documented in the 1920’s by its namesake, Charles Ponzi. In 2008, Bernard “Bernie” Madoff was exposed for running the largest Ponzi scheme to date, conning investors out of over $65 billion over thirty years. INTRODUCTION Bernard Madoff was responsible for the largest reported Ponzi scheme in history. How did this happen? Who else knew about it? Why did it take so long for him to be exposed? This paper will endeavor to answer all of those questions...
Words: 4034 - Pages: 17
...EG2401 Engineering Professionalism Group 3 Final Report EG2401 Engineering Professionalism Full Report Group Members: Liu Weiyuan (A0086030R) Pham Thi Cam Nguyen (A0074425H) Reymond Edlin (A0083418A) EG2401 Engineering Professionalism Group 3 Final Report EG2401 Engineering Professionalism Group 3 Final Report Contents Abstract I. Introduction/Background II. Method III. Discussion 1. Bribe or Gifts? Ethical or Unethical? 2. Case Studies and the Scenario Case Study # 1 Case Study # 2 Case Study # 3 3. Limitation IV. Conclusion References EG2401 Engineering Professionalism Group 3 Final Report Abstract Gift receiving has long been a problem in evaluating the ethicality of engineers. In this study, we analyse the ethical boundaries of gift receiving. The foreground for this analysis will be based on several factors, including the value of the gifts and the behaviour (or intention) of engineers after receiving the gifts. These criteria will underpin the discussion for the scenario on whether it is ethical for engineers A, B and C to receive gifts from contractors and suppliers, given that they are involved in the bidding process to select the from the same contractors and suppliers. This report will also evaluate various ethical concerns by comparing the scenario against three different case studies, which will act as the three different extents of moral lines that are set in place. These comparisons would be used to derive a conclusion for the scenario...
Words: 7117 - Pages: 29
...Introduction In recent years, accounting ethical breaches has emerged as a major problem for most of the organizations. With growth of businesses, the number of accounting ethical breaches has also increased in organizations. Accounting ethical breaches may be defined as the misappropriation and misconduct of financial data by the auditors and accountants of the company (Duska & Ragatz, 2011). The accounting ethical breaches not only affect the organization, but also the stakeholders involved with the organization. The paper will discuss the accounting ethical breach in Enron. The paper will also discuss the ethical issues, accounting ethical breaches and the recommendations to prevent such breaches. Ethical Behavior in Current Business and Regulatory Environment With increasing number of corporate ethical breaches, the role of ethical behavior has increased in organizations. The organizations are more supportive to ethical behavior ensuring risk, compliance and governance culture within organization. As a part of this culture, effective communication around ethical practices has been followed by the organization. Since ethical breaches are mainly done for the sake of money, rewarding and ethical practices has effectively helped organizations to minimize the ethical breaches (Ferrell & Fraedrich, 2009). At the same time, ethical breaches have not only affected the image of the company, but are also responsible for its failure. This is also one of the major reasons...
Words: 1393 - Pages: 6
...Environment & Managing Interdependence, Social Responsibility, Ethics and Sustainability 30/09/2014 Dr Nick Papageorgiadis The notion of a firm with a unique national identity is quickly fading. A Bermuda-incorporated, Paris-headquartered firm, listed on the NYSE with US style investor protections and disclosure rules, a chief information officer in Bangalore, a chief finance officer in Brussels and a chief operating officer in Beijing may not sound nearly so fanciful in the near future. Desai, M. A. (2009). The decentering of the global firm. The World Economy, 32(9), 1271-1290. What is International Management? The process of developing strategies, designing and operating systems, and working with people around the world to ensure sustained competitive advantage The Global Manager’s Role Contents Assessing the Environment: • • • Understand the global business environment and how it affects the strategic and operational decisions which managers must make. Critically assess the developments, advantages, and disadvantages of globalization. Develop an appreciation for the ways in which political, economic, legal, and technological factors and changes impact the opportunities that companies face. Appreciate the complexities involved in the corporation’s obligations toward its various constituencies around the world. Understand the changing perceptions and demands of corporations doing business in other countries, in particular the responsibilities toward human...
Words: 2916 - Pages: 12
