...Wall Street? The Goldman Sachs Standards and Shades of Gray Abstract This paper discusses the business ethics in the organization through the examination of ethical practices conducted at Goldman Sachs Inc. The paper includes a list of all the actions executed by Goldman Sachs Inc which are defined in this paper as gray area practices. The paper also presents an ethical analysis of these gray area actions as well as all the parties that were affected by the Goldman Sachs practices. Business Ethics The problem to be investigated is business ethics through the examination of ethical practices conducted by Goldman Sachs Inc and ethical gray areas which are situations and problems that don’t fit neatly into any existing mode of ethical analysis within the business (Marshall, 2007). Business ethics are very important to inspire the employees and attract more wanting to work for the business. Business ethics are also important because if the business lacks good ethics, this can damage the business reputation and make it less appealing to stakeholders and that will lead to profit loss affect the whole business. Ethics of business has been discussed by Peter Drucker (Drucker, 1986, p. 254) which he said “The problem is one of moral values and moral education, of the individual, of the family, of the school. But there neither is a separate ethics of business, nor is one needed”. Drucker’s interpretation of business ethics is that personal ethics and business ethics cannot be separated...
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...[pic] Master in Business Administration COURSE SYLLABUS Investment Banking And Structured Finance Analytics Course Code: IBSFA Faculty: Prof. E. B. Perez Course Description This is an advanced finance course suited for finance majors. However, the focus is on the practice and business of investment banking. Corporate finance skills are assumed, as well as concepts regarding structured finance. Grading Class Participation 50% Class Presentation 50% Course Outline |Session |Cases, Readings and Exercises | | | | |1 |Case: CML Group, Inc. (A) and (B) | | | | | |Session 1 CML Group, Inc. (A) and (B); the (C) for class distribution. | | |2 Hutchison-Whampoa LTD - Yankee Bond Offering | | |3 Chase's Strategy for Syndicating the Hong Kong Disneyland Loan (A) ...
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...Ethics and Compliance Leslie Hope, Quo-vades Simonton, Teresa Duncan, Kizzy Richardson FIN/370 August 2, 2012 Professor Franklin Olivieri Ethics and Compliance This paper contains analyzed data of the organization Lowe’s Home Improvement Stores. Lowe’s is a home improvement store that provides its customers with the supplies needed for any improvements around the home. The discussion hereafter will assess the role of ethics in the financial department and describe the procedures the company has to encourage ethical behavior. Next, explain the role financial markets in the United States. Followed by how Lowe’s complies with Securities and Exchange Commission (SEC) regulations. Lastly, provide an evaluation of the company’s financial performance last two annual periods, followed by the calculations of ratios for each year. The ratios include current, debt, return on equity, and days receivable along with an explanation for trends. The code of business conduct and ethics at Lowe’s improvement stores starts with the board of directors down to the newest employee. Everyone associated with or represented by Lowe’s is required to read and adhere by the code of conduct. Lowe’s values its reputation as a leader when complying with governmental regulations involving ethics. Lowe’s applies ethics in its financial dealings by requiring, under Section B of the code of conduct. That “employees and members of their immediate families should not have any financial interest, direct...
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...ETHICS IN FINANCE Meaning of Ethics Ethics is the study of human behavior which is right or wrong. In general, ethics means doing right things to others, being honest to others, being fair and justice to others. Even ethics in finance is a compartment to general ethics. Ethics are very important to maintain constancy in social life, where people work together with one another. In the process of social development we should not be conscious of ourselves but also conscious to take care of others. WHAT IS FINANCE Finance means fund or other financial resources; it deals with matter related to money and the market. The field of finance refers to the concept of time, money and risk and how they are interrelated. Banks are the main facilitators of funding. Funding means asset in the form of money Finance is the set of activities that deals with the management of funds. It helps in making the decision like how to use the collected fund. It is also art and science of determining if the funds of an organization are being used in a right manner or not. Through financial analysis, any company or business can take decision in making financial investments, acquisition of company, selling of company, to know the financial standing of their business in present, past and future. It helps to stay competitive with others in making strategic financial decisions. Finance is the backbone of business; no business can run without finance. WHAT IS ETHICS IN FINANCE Ethics in finance...
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...Bank of America research paper Kim Adams Wilmington University Bank of America's history dates back to 1904, when Amadeo Giannini founded the Bank of Italy in San Francisco to cater to immigrants who were denied service from other banks. Shortly following the opening of Bank of Italy the San Francisco earthquake struck, causing most banks to halt all lending practices. Giannini managed to rescue funds to start lending within a few days of the disaster to those who was willing to rebuild. Bank of America was formed when Giannini consolidated his Bank of Italy with Bank of America. As of 2010, Bank of America is the 5th largest company in the United States by total revenue, as well as the second largest non-oil company in the U.S. (after Walmart). In 2010, Forbes listed Bank of America as the 3rd biggest company in the world. (CNN Money) As one can imagine, all industries from mom and pop stores to multi million corporations have felt the wrath of the economic downturn. To make the statement that any bank is performing desirably would be a slight exaggeration. Prior to the recession, banks (including Bank of America) were content with relaxed lending guidelines, contracting out any brokers, and questionable appraisers. The above noted coupled with American’s constant desire for more, set the United States up for a perfect storm. The share price, like the US banking market in general, has dipped significantly from its relatively recent highs. The last twelve...
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...Business Ethics and Corporate Strategy Ethical Issue Paper Travis G. Stoufer Business Ethics-BUS 323 Janet Evelyn-Dorsey January 29, 2010 Abstract A paper presented on the growing issues of business ethics and the decisions consumers and producers make when moral and ethical responsibilities are in question. Paper presents tools for consideration for tomorrow’s leaders and gives a general overview of strategies corporations take to limit legal responsibility in ethical matters that include; hiring of undocumented workers, strategies such as breach and pay, document retention, and rewriting policy on employees instead of treating them with dignity and respect. The paper discusses the viewpoint of ethical responsibilities with primary stakeholders in mind. The primary stakeholders for consideration in this paper would be employees, consumers, managers, and CEO’s. This paper argues corporate strategies such as breach and pay, document retention, and hiring of undocumented workers is unethical. Corporate strategies of this sort are unethical and consumers should align the purchases of goods and services with companies that participate in corporate social responsibility. BUSINESS ETHICS AND CORPORATE STRATEGY Table of Contents Abstract……………………………………………………………………………………ii Table of Contents…………………………………………………………………………iii Introduction…………………………………..…...……………………………………….1 Background……………….…………………...………………………………………...1-2 Analysis..……………………………..……..…………………………………………...
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...Investment Analysis UNDERSTANDING THE BAILOUT Understanding the bailout The turmoil in the mortgage and financial markets, but also fears of recession, have pushed the government to act in order to prevent further worsening of the crisis. As the situation was getting worse month by month, government bailing out one financial firm after another (Bear Stearns in March, AIG in September), and letting fail some (Lehman Bros), a more global approach to address the problem was needed. The bailout proposal, initiated by the Secretary of the Treasury, Henry Paulson, a former executive of Goldman Sachs, was intended to create an entity whereas the government was going to buy those mortgage backed securities from the banks in order to provide liquidity to the banks and clear their balance sheets of these unmarketable assets. Although nobody understands exactly what the plan is and how it will help the economy, since it has changed since the legislation was passed by the U.S. Congress (angering investors in the meantime), there is a consensus that the government will have to step in to clear up the mess on “wall street” and on “Main Street”. In order to understand why there is a need for a bailout, I will retrace the roots of the crisis up to the point where the government decided to intervene. Also, I will address the issue of how the measures undertaken will impact on the banks, the credit markets, mortgage markets and the overall economy. Finally, I will...
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...VAULT CAREER GUIDE TO INVESTM E NT BAN KING 2008 EDITION is made possible through the generous support of the following sponsors: Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library The media’s watching Vault! Here’s a sampling of our coverage. “For those hoping to climb the ladder of success, [Vault’s] insights are priceless.” – Money magazine “The best place on the web to prepare for a job search.” – Fortune “[Vault guides] make for excellent starting points for job hunters and should be purchased by academic libraries for their career sections [and] university career centers.” – Library Journal “The granddaddy of worker sites.” – U.S. News & World Report “A killer app.” – New York Times Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library One of Forbes’ 33 “Favorite Sites” – Forbes “To get the unvarnished scoop, check out Vault.” – SmartMoney Magazine “Vault has a wealth of information about major employers and jobsearching strategies as well as comments from workers about their experiences at specific companies.” – The Washington Post “A key reference for those who want to know what it takes to get hired by a law firm and what to expect once they get there.” – New York Law Journal “Vault [provides] the skinny on working conditions at all kinds of companies from current and former employees.” – USA Today Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library ...
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...Burger King Corporation Company Profile Reference Code: F8CC90C1-1A3C-499B-BB52-A2604879F62C Publication Date: Aug 2007 www.datamonitor.com Datamonitor Europe Charles House 108-110 Finchley Road London NW3 5JJ United Kingdom t: +44 20 7675 7000 f: +44 20 7675 7500 e: eurinfo@datamonitor.com Datamonitor Americas 245 Fifth Avenue 4th Floor New York, NY 10016 USA t: +1 212 686 7400 f: +1 212 686 2626 e: usinfo@datamonitor.com Datamonitor Germany Kastor & Pollux Platz der Einheit 1 60327 Frankfurt Deutschland t: +49 69 97503 119 f: +49 69 97503 320 e: deinfo@datamonitor.com Datamonitor Asia-Pacific Room 2413-18, 24/F Shui On Centre 6-8 Harbour Road Hong Kong t: +852 2520 1177 f: +852 2520 1165 e: hkinfo@datamonitor.com Datamonitor Japan Aoyama Palacio Tower 11F 3-6-7 Kita Aoyama Minato-ku Tokyo 107 0061 Japan t: +813 5778 7532 f: +813 5778 7537 e: jpinfo@datamonitor.com ABOUT DATAMONITOR Datamonitor plc is a premium business information company specializing in industry analysis. We help our clients, 5000 of the world's leading companies, to address complex strategic issues. Through our proprietary databases and wealth of expertise, we provide clients with unbiased expert analysis and in-depth forecasts for six industry sectors: Automotive, Consumer Markets, Energy, Financial Services, Healthcare and Technology. Datamonitor maintains its headquarters in London and has regional offices in New York, Frankfurt, Hong Kong and Japan. Datamonitor's premium reports are based...
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...Positive law as the ethic of our time. Business Horizons | September 01, 1990 | Fisher, Bruce D. | Copyright Positive Law as the Ethic of Our Time The number of businesspersons, political leaders, TV ministers, sports personalities, educators, and other role models for American society who in recent years have been fined, imprisoned, left private or public office in disgrace, or been denied Olympic medals starlets many. Others not only are alarmed by the rash of apparently unethical conduct by society's leaders, but also wonder if there is some character flaw in the present generation of achievers that dooms their ultimate success - and threatens the commitment of the average member of society to the ethics of work and integrity. It is not unusual to read of self-studies by leading business firms that question the propriety of basic organizational values and ask hard questions about the institution. Certainly it makes institutions such as businesses and governments appear ridiculous to line personnel, who are micro-managed to death by institutional guidelines covering the minutes aspects of their work yet see leaders who appear to violate laws governing major phases of their business. This article advances the notion that the "law on the books" - positive law - has become the basic ethic of our business and social culture today. That is, people have come to accept the notion that if they have followed the law on the books in a democratic society, that is probably all...
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...Citigroup: Restoring Ethics and Image Before Growth Charles Prince, CEO of Citigroup, is facing a daunting challenge as the head of the largest financial services organization in world. He has joined a company that has experienced significant regulatory scrutiny and that has been linked to the biggest scandals in corporate history. Unfortunately for Prince, the problems are pervasive throughout most of Citigroup’s diverse service offerings. In March 2005, Prince announced his strategy to transform the financial giant and to provide a new direction for the future. He called it the “Five Point Ethics Plan” to: improve training, enhance focus on talent and development, balance performance appraisals and compensation, improve communications, and strengthen controls. Due to the size and complexity of the organization, there were significant unresolved questions. How could the plan be effectively revealed? Would the plan be strong enough to change the culture of the entire organization? How should the corporate communications department handle both the initial and long-term communication of this plan to major stakeholders? About Citigroup Incorporated in 1998, Citigroup Inc. is a diversified global financial services holding company providing services to consumer and corporate customers. The company has approximately 141,000 full-time and 7,000 part-time employees in the United States and 146,000 full-time employees in more than 100 countries outside the United States. All of Citigroup’s...
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...qualities and transferable skills necessary for integration, continuous learning, and professional development. The course is oriented around the ethical and moral issues faced by accounting and finance professionals. Students are expected to have taken AFM 211 before taking AFM 311. As well, AFM 431 (a precursor course to this one) as well as PHIL 215/ARBUS 202 are anti-requisites to this course. If a student has taken one of those courses and hasn’t already spoken to Professor Charters (or someone else in the SAF) about this he/she should speak to the professor as soon as possible so an appropriate determination of how to proceed can occur. More can be said about the course than the calendar description included above. This is the primary ethics course designed for students in the AFM, Math/CPA, and BioTech/CPA programs. The focus of the course is the study of ethical and moral issues that arise in professional lives of accountants and financial managers It is assumed that all of you have some familiarity with the financial scandals of...
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...COURSE DESCRIPTION FORM School/Faculty/Institute Sabancı University, Faculty of Management Program B.A. in Management Semester Summer 2014 Course Code MKTG405 Course Title in English Marketing Strategy Course Title in Turkish Pazarlama Stratejisi Language of Instruction English Type of Course Lecture/Seminar/Practical/Fieldwork Level of Course Senior, Junior Intermediate Semester Summer Hours per Week 3 Number of Credits 5 ECTS Grading Mode Letter Grades (A: 100-93, A-: 92-86, B+: 85-78, B: 77-70, B-: 69-63, C+: 62-50, F:49-0) Pre-requisites Principles of Marketing or Introduction to Marketing Course Description MKTG405 will deepen students’ knowledge of marketing strategy. Students will not only be provided with a capstone class that enables integration of their learning in marketing (“pull it all together”), but they will be equipped with thinking strategically when making and implementing marketing decisions (“strategic decision making”). Extensive application of specific analytical approaches and tools for understanding customers, competition, and markets (“applications of marketing data and information”) will help students in developing an appreciation for the relationship between marketing and the other functional areas of business. Course Description in Turkish MKTG405, öğrencilerin pazarlama stratejisi bilgisini derinleştirmeyi hedefler. Öğrencilere pazarlama bilgilerini entegre edebilme kabiliyeti kazandırmanın yanı sıra, pazarlama kararlarına...
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...deserving”. Failed institutions, including Lehman Brothers, Enron and Satyam, would stand a testimony to this affray in a post-mortem analysis. This paper discusses corporate ethical issues involved in ‘Satyam Scam’ from a compliance perspective. It makes a distinction between legal and ethical compliance mechanisms and also shows that the legal compliance mechanism has clearly proven to be inadequate as it lacks the moral firepower to restore confidence and the ability to build trust. The concepts of freedom of indifference and freedom for excellence provide a theoretical basis for explaining why legal compliance mechanisms are insufficient in 2 dealing with fraudulent practices and may not be addressing the real and fundamental issues that inspire ethical behavior. The focus of the virtues in governance is to establish a series of practical responses which depend on the consistent application of core values and principles as well as commitment to ethical business practice. In my opinion, No one makes it to the top ranks of corporate management without a healthy amount of self-assurance. Confidence underlies decisive, strong leadership, but does overconfidence lead managers to cross the line and commit fraud? . This paper focuses generally on academic business ethics, more particularly on the philosophically-informed part of business ethics, and most particularly on the constellation of philosophically-relevant questions that in form the main conversation and ongoing disagreement...
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...The below are the requirements for term paper. 1)Title 2)Object 3)Review(2 articles) 4)Analysis 5)conclusion 6)Source(References) http://www.businessweek.com/blogs/globespotting/archives/2009/01/satyam_scandal.html The terror attacks on Mumbai were just a tremor for the country’s tech industry compared to the shocks coming from the Satyam scandal. Earlier today, Ramalinga Raju, Satyam’s founder and longtime chairman, admitted in a letter to the board that he had been cooking the books for years to make up for revenue and profit shortfalls. Read the details in this report by my BW colleague, Manjeet Kripalani. In his letter, Raju wrote that the cover-up finally got the best of him: “It was like riding a tiger, not knowing how to get off without being eaten.” This admission will have a crippling impact on Satyam. Its chances of getting new business are nil. Don’t expect its current customers to abandon the company overnight. That’s not easy in a tech services business where the operations of the client and service provider are so interwoven. On the other hand, it’s possible that the company may collapse financially, in which case clients will have no choice but to flee. Which brings us to a bigger shock: This betrayal of trust could have a major impact on the entire Indian tech services industry. The industry has spent 20 years building up credibility with Western clients, but this disaster will make many US and European clients rethink their reliance on Indian outsourcing...
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