...obligations. In some instances, these values may become law. Many of these moral values are based on a religion; for example, Christianity refers to the Ten Commandments, which forms a set of values. Some ethics are secular in nature. In business, ethics plays a major role on how companies act in relation to their core values. A world viewpoint would look at international business ethics as compared to domestic business ethics. The international business ethics would focus on the culture of that society along with their values and core beliefs. With our growing global economy, it is important to understand the ethical duties and obligations for businesses wishing to conduct business in the respective countries. The global business has a duty and obligation to conform to the values and ethics of that society; this is their social responsibility. One of the main aspects of social responsibility in a global market is to protect the organization from any type of corruption. Considering that corruption is considered bad practice, many different entities, including local...
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...Chapter 04 The Corporate Culture -Impact and Implications True / False Questions 1.Due to diverse employee groups and management styles, the work culture of a large global firm in one country will differ significantly from the work culture of the same firm halfway around the world. FALSE Despite the fact that corporations have many locations, with diverse employee groups and management styles, an individual working for a large global firm in one country will share various aspects of her or his working culture with someone working for the same firm halfway around the world. 2. Corporate culture shapes, and is shaped, by the people who are members of the organization. TRUE While culture shapes the people who are members of the organization, it is also shaped by the people who comprise it. 3. Differing individual perception of culture makes it easier to define the specific culture within an organization. FALSE Defining the specific culture within an organization is not an easy task since it is partially based on each participant's perception of the culture. 4. In situations where an organization lacks strong leadership for ethical decision making despite the clarity of law, the business culture is likely to be the determining factor in the decision. FALSE In situations where the law provides an incomplete answer for ethical decision making, the business culture is likely to be the determining factor in the decision. 5. Organizations with similar missions...
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...Journal of business Ethics 15(2), 167-183 Parkinson, J. and Kelly, G. (1999) the combined code on corporate governance, Political Quarterly, 70, 1, 101-7 Lutz, S., Eberle, D. and Lautter, D. (2011) ‘Varieties of private self-regulation in European capitalism: corporate governance codes in the UK and Germany’, Socio-economic review 9(2): 315-38 Thomas, C. W. (2002, April). The rise and fall of Enron. Journal of accountancy, 103(4), 41-48 Davis, S., Lukomnik, J. and Pitt-Watson, D. (2010) Corporate governance in the wake of financial crises Mintz, S. (2012). Whistleblowing and bystander apathy. Available at http://www.workplaceethicsadvice.com/2012/08/whistleblowing-and-bystander-apathy (Accessed 24 February 2015) Fitzergaland, D. J. (2013) Whistleblowing Cohan, J. A. (2002), ‘I Didn’t Know and I was Only Doing My Job. Has Corporate Governance Careened Out of Control? ‘A Case Study Of Enron’s Information Myopia’, Journal of business ethics, 40, 275-299. Kar, P. ‘Looking for patterns in corporate Failures, ‘corporate governance: an emerging scenario Harvey, L. Pitt. (2009), Financial Services Regulatory Reform in the face of an Economic meltdown, 35 U. Dayton L. Rev.15 Keasey, K., Wright, M. (1993) Issues in...
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...ethics and describe ethics training. 6 Describe the concept of corporate social responsibility. 7 Explain why everyone is not on board with regard to corporate social responsibility. 8 Explain corporate sustainability. 9 Describe a social audit. 10 Describe possible difficulties for corporate social responsibility to succeed in the global environment. KEY TERMS Ethics: Discipline dealing with what is good and bad, or right and wrong, or with moral duty and obligation. Human resource ethics: Application of ethical principles to human resource relationships and activities. Profession: Vocation characterized by the existence of a common body of knowledge and a procedure for certifying members. Corporate social responsibility (CSR): Implied, enforced, or felt obligation of managers, acting in their official capacity, to serve or protect the interests of groups other than themselves. Social audit: Systematic assessment of a company’s activities in terms of its social impact. LECTURE OUTLINE Pay for Whistleblowing In the legal use of the term, a whistleblower is someone who engages in a “protected activity.” The number of whistleblower suits has increased dramatically in recent years under federal and state laws aimed at uncovering fraud and protecting the public. The...
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...will benefit the majority. Kantian Ethics Intention based The categorical Imperative contains three maxims. Universality: You should only do something if you think it would be ok if everyone did it all the time. E.g. cheating in business, if everyone did it the economy would collapse. Every human should be treated as an end not a means to an end: So you can’t manipulate people to achieve an end. Contrasts to consequentialism which is based on ‘the greater good’. Means you cannot lie, (example about com101 being fav class) Act as if you were the moral authority of the universe: If any action that you undertake, repeated across the universe would create negative effects it is deemed unethical and you should not do it. Whistleblowing WB: Corporate governance codes require people to whistleblow on breaches of the codes. E.g. Enron: Positives: Required by corporate governance to report unethical business actions. Saves...
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...A selection of rough diamonds from Voorspoed Mine ACTION ETHICS Protecting THE INTEGRITY OF DIAMONDS 33 ETHICS OUR COMMITMENT TO MEETING THE highest ethical standards IS FOUNDED ON OUR aspiration TO LIVE UP TO THE unique qualities OF DIAMONDS. THE BEHAVIOUR OF OUR EMPLOYEES, THE ROBUSTNESS OF OUR COMPLIANCE SYSTEMS and our commitment to transparency maintain stakeholder confidence in our business and play a key role in upholding ‘diamond equity’. De Beers aims to meet or exceed all applicable statutory requirements, as well as international standards on ethical issues ranging from conflict diamonds to anti-corruption. We also work with our business partners to embed ethical standards throughout the diamond value chain. 34 Report to Society 2010 Ethics The ethical provenance of diamonds is an important element of both their financial and emotional value – what we call ‘diamond equity’. To ensure that the journey from mine to finger meets the highest ethical standards, we have a mandatory, third party assured, code of ethical business conduct – the Best Practice Principles Assurance Programme (BPPs) – that applies not only to our own operations, but also to our Sightholders, contractors and suppliers. HIGHLIGHTS • All diamonds sold by De Beers are 100% conflict free. Compliance with the Kimberley Process and System of Warranties for 2010 was verified by Société Générale de Surveillance (p38) To support ethical standards more broadly we work with sectoral initiatives...
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...An Article On Business Ethics and Global Dimension of Business Business Ethics and Global Dimension of Business October 19, 2014 Ethical issues have been around for a long time and its association with globalization has been documented. The effects on the association with globalization are similar and closely related to that of international marketing. As a result, the increased globalization over the years has brought an increase in many problems associated with global trading including ethical ones. (WTO, 2011). As indicated by World Trade organization in 2011, there was significant expansion in world trade from 1950 to 2000. This increase was documented to be over twenty-fold with foreign direct investment and exports playing a significant role. This increase in world trade in the middle to late 20th century also saw small businesses increasing their investments in cross border trading. This resulted in an increase in the average yearly outflow of Foreign Direct Investment (FDI) from about $25 billion in 1975 to a record $1.3 trillion in 2000. (UN, 2001). This means that there were a great number of business people with different social and cultural backgrounds doing business in other areas of different geographical, political, legal, social and cultural environments. The challenges that confronted these business people working in these different environments with its associated social and cultural problems created a platform for indulgence in ethical problems and other...
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...Harvard referencing: a guide for SoM students Introduction Academic work demands that you consider the work of other writers and researchers. To use their work without acknowledgement is to steal the ideas of other people and is called plagiarism. You should acknowledge the sources which have informed your work by citing them in the text of your work, and referencing them at the end of your essay, project report, dissertation or thesis. Otherwise, you run the risk of being accused of academic misconduct. There are several widely used methods for writing references. The School of Management uses the Harvard system. If you do not use this method properly you will lose marks. What sources of information should I be reading? Before you use any document, you should consider the quality of the information it provides. Articles published in refereed academic journals are the most authoritative, because they have been through a thorough checking process known as peer review. Books may not have been checked so rigorously by their publishers. Articles in newspapers and trade magazines are not checked as carefully as those in refereed academic journals so may not be as reliable. And information found on the Internet needs to be treated with caution, as anyone can put material there, accurate or otherwise! How do I put a citation in my text? To avoid being accused of plagiarism, you need to put a citation in the text you are writing whenever you mention another person’s work. This...
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...power and so on. Whistle-blowing has been defined as ‘disclosure by a current of former organization member of illegal, inefficient, or unethical practices in a organization to a person or parties who have the power or resources to take action ( Near and Meceli, 1985). It continues to receive media intention (Vinten, 1997). Whistle blowing is a deliberate non-obligatory act of disclosure, which gets onto public record and is made by a person who has or had privileged access to data or information of an organization, about non-trivial illegality or other wrongdoing whether actual, suspected or anticipated which implicates and is under the control of that organization, to an external entity having potential to rectify the wrong doing. Whistleblowing is presented as dissent, in response to an ethical dilemma, in the form of a public accusation against an organization. It contains six elements. These are: the act of disclosing damaging news; the whistleblower agent; a disclosure subject – some (potential) wrongdoing; a target organization held responsible; a disclosure recipient; and an outcome –the disclosure enters the public domain (Peter B....
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...Business Ethics and Global Dimension of Business Ethical issues have been around for a long time and its association with globalization has been documented. The effects on the association with globalization are similar and closely related to that of international marketing. As a result, the increased globalization over the years has brought an increase in many problems associated with global trading including ethical ones. (WTO, 2011). As indicated by World Trade organization in 2011, there was significant expansion in world trade from 1950 to 2000. This increase was documented to be over twenty-fold with foreign direct investment and exports playing a significant role. This increase in world trade in the middle to late 20th century also saw small businesses increasing their investments in cross border trading. This resulted in an increase in the average yearly outflow of Foreign Direct Investment (FDI) from about $25 billion in 1975 to a record $1.3 trillion in 2000. (UN, 2001). This means that there were a great number of business people with different social and cultural backgrounds doing business in other areas of different geographical, political, legal, social and cultural environments. The challenges that confronted these business people working in these different environments with its associated social and cultural problems created a platform for indulgence in ethical problems and other issues. (Dagdelen, Elibol & Yucel, 2009). Cross border trade experienced a great...
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...Table of Contents Abstract 3 Introduction 4 Importance of Transparency 7 What Regulation Typically Covers 7 Regulatory Agencies 8 Accounting Reform 10 Conclusion 13 References 15 Abstract Within the accounting profession there are many complex ethical issues that must be dealt with quite often. It is important that the people working within the industry provide high quality financial statements and always pay close attention to ethical concerns that may arise. Since ethics is such a major concern in the accounting industry, a rules based system is in place for enforcing ethical concerns. There are many regulating bodies that exist that enforce many highly detailed regulations that people within the industry must follow at all times. Throughout history there have been several major accounting scandals that have been followed by new regulation to ensure that these problems do not come up again. CLERP 9 and the Sarbanes-Oxley Act are just a couple of acts that have caused significant changes to the accounting world in recent times. This paper will look at some of the different issues that accountants face as well as some of the regulations that seek to end unethical behavior. Ethical Standards in Accounting Introduction The accounting industry is an always changing and constantly growing industry. Accounting plays a vital role in society and business and up until recently accounting was considered to have some of the highest standards...
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...and business environment …………7 4.3 Vertical and horizontal integration ………………………………………………………………………………7 LO5: How to identify and respond to short term changes in the business data for planning purposes 5.1 HR’s role in business planning ……………………………………………………………………………………8 5.2 Environmental planning and the sources of business data for planning purposes ………8 5.3 Evaluate how agreed strategies, policies and plans are put into action within organisations … Bibliography …………………………………………………………………………………………………………………………9 Appendix …………………………………………………………………………………………………………………………….10 SWOT ANALYSIS …………………………………………………………………………………………………………………..11 PESTLE ………………………………………………………………………………………………………………………………….12 3.1 Southern Dental operates in a global business environment, HR as a strategic part of the business is equally affected by both external and internal forces. These forces will shape the business strategy and all the strategies of all other aligned functions of the Company. The shape of the HR Agenda will be influenced by those forces...
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...Class Policies: Attendance Policy Students are expected to attend all regularly scheduled classes. Should absences be necessary, students are responsible for the material covered during the absences. Faculty cannot grant requests for excessive amounts of make-up material, and they may request written documentation detailing the reason for the absences. Excessive absences make it almost impossible for a student to meet the academic objectives of a course; they frequently cause a student to receive a lower grade, even though, the absences were unavoidable. Strayer University requires all faculty members to take attendance during each class period and to record it accurately on their permanent roster. This data is available for verification of attendance by the appropriate governmental agencies and educational accrediting organizations. A student who is absent from four consecutive class meetings, excluding holidays and emergency cancellation of classes, will be withdrawn automatically from that course. A student will be withdrawn automatically from a mini-session course when he/she misses two consecutively scheduled class meetings. Students not attending scheduled on-ground classes will receive zero points for the weekly discussions. Students arriving to class (or leaving class) more than 30 minutes late/early will receive a 2 point deduction for all discussions. Students arriving (or leaving class) more than 1 hour late/early will receive a 5 point deduction for all...
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...Claremont Colleges Scholarship @ Claremont CMC Senior Theses CMC Student Scholarship 2012 Corporate Social Responsibility and Financial Performance: Does it Pay to Be Good? Harmony J. Palmer Claremont McKenna College Recommended Citation Palmer, Harmony J., "Corporate Social Responsibility and Financial Performance: Does it Pay to Be Good?" (2012). CMC Senior Theses. Paper 529. http://scholarship.claremont.edu/cmc_theses/529 This Open Access Senior Thesis is brought to you by Scholarship@Claremont. It has been accepted for inclusion in this collection by an authorized administrator. For more information, please contact scholarship@cuc.claremont.edu. CLAREMONT McKENNA COLLEGE CORPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE: DOES IT PAY TO BE GOOD? SUBMITTED TO PROFESSOR MATTHEW MAGILKE AND DEAN GREGORY HESS BY HARMONY J. PALMER FOR SENIOR THESIS FALL 2012 DECEMBER 3, 2012 Acknowledgements I have many people to thank for their help with this study. First and foremost, I want to thank my thesis reader, Professor Magilke, for all his help. This study would have be quite difference without his constant guidance and our numerous meetings and e-mail exchanges. Second, I would like to thank Mary Martin, the Reference & Instruction Librarian for Business and Law, at the Claremont Colleges Library. Obtaining the CSR data would not have been possible without her help and the library’s funding. Third, I want to thank the Kravis Leadership Institute...
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...Director Notes From Enron To Lehman Brothers Lessons for Boards From Recent Corporate Governance Failures by Frederick D. Lipman In order for boards to fulfill their oversight obligations, the organizations they serve must have robust whistleblower and compliance policies and programs to encourage reporting that can help identify risk exposures, fraud, or other illegal activity. This report identifies common pitfalls in many current whistleblower and compliance programs, and it offers recommendations on how audit committees can strengthen them. Government investigations, bankruptcy receiver reports, and numerous books provide a rich source of information about the major corporate disasters of the first decade of the twenty-first century. Although the financial implosions, starting with Enron and ending with Lehman Brothers, have significant differences, one common corporate governance theme can be seen: The board, and, in particular, the independent directors, did not have the information required to properly perform their oversight duties, even though such information was known to various members of management. In almost all the cases, the directors claimed they were misinformed or “duped” by the CEO or CFO.1 In this respect, these disasters were partly the result of corporate governance failure and, in particular, a failure to establish a robust whistleblower system as an internal control. Those 1 Frederick Lipman, Whistleblowers: Incentives, Disincentives and Protection...
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