...close relationship with the fraud of the accounting firm Arthur Anderson, “another problem whose effects are becoming apparent today — moral hazard in the audit industry” (Agnes, 2011). Business and society take into serious consideration about ethics and integrity standard among today’s accounting firms and their accountants. Meanwhile, how to become an ethical accountant is drawing widespread concern. The first thing to figure out is why ethics are so important to every single accountant. To start with, accountant is actually a third party job working with clients and their private information. This information includes personal bank account number, social security number, and other information about their personal properties. Who would give all these sensitive data are to someone they don’t trust? Citizens will suffer if people who want to harm them get their private information. What’s worse, organization may face unfair competition due to the leak of company core data. Clients would like to trust the accountant who has high ethical standard to whom that has cheated on clients and abused their information. So it is essential for accountants to be ethical and earn trusts from the clients. In the second place, unethical behaviors in organizations’ managerial and financial operations are also dangerous. “Accounting is the mechanism that offers information regarding the financial position...
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...combine my interest in strategic thinking and the financial sector and able to give a clear explanation for the events that happened within the financial crisis of 2007 - 2009. Finally, I would like to thank my supervisor Rob van der Mei for his comments and suggestions. Amsterdam, November 2009, Jasper Holke Klein Summary This paper analyses the origin of the financial crisis from a game theoretic perspective. We use the principal-agent theory as a basis for our analysis. Principal-agent theory is broadly applicable in situations where multiple parties strive to maximize their utility and which have asymmetric information. The financial crisis started after the bust of the US housing bubble, which originated as a result of irresponsible profit...
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...Arceo, Diana Marie English Proficiency II Barrion, Ma. Suzenne Meanne TF 8:30AM – 10:00AM De Guzman, Grace Bernice Quisao, Hazel Joy Villanueva, Anna Marie A Research Proposal on Establishing an Investment Counselling Agency that will Provide Free Counselling. Thesis Statement: Increasing number of fraud investment victims must be lessen in terms of having a government entity that will provide investment counselling. I. INTRODUCTION Have you ever thought of doubling your money in no time with no risk? Sounds good, but it corresponds on taking more risk, not zero risk. Many investors nowadays do not know the information needed before engaging to an activity like this. They are not aware of the basic terms that they need to know in order to choose a reliable company that will give them a high return of investment. Some are also not aware of the financial options available to them. Without this knowledge, investors fail to take advantage of potentially beneficial investment opportunities. In many cases, they become victims of scams and fraud cases. The practice of investment counselling has been used for almost a century. According to the Investment Advisor article, October 2006 issue, Arthur M. Clifford opened his own Los Angeles-based brokerage firm known as Clifford Swan Investment Counsel in 1911 after serving as an analyst and broker at a brokerage company in St. Louis. Four years later, Mrs. Robert Bliss, widow of the creator of Fletcher’s Castoria...
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...The development of neuroeconomics has provided a new a fascinating ways of engaging conventional economic theories. This essay seeks to outline what neuroeconomics is and how it has been received by its critics and proponents. It will provide examples that neuroeconomics can shed light on that conventional economics has struggled to explain. This essay will also outline key assumptions in neuroeconomics and how they vary from standard economics. It will address the global financial crisis from a neuroeconomic point of view and finally it will offer real world applications for the insights neuroeconomics offers. Neuroeconomics is the name that has been given to the latest generation of study in the field of economics. The field of economics has seen a number of developments in recent times as scholars have sought to use other disciplines to further illuminate economic theories. Psychology has been tried but over the last decade the focus has shifted to the more scientifically measurable field of neuroscience. The result is a new area of study that seeks to clarify and correct many of the previously unmeasurable assumptions about the way humans make economic decisions. While this new field of neuroeconomics has seen many papers on the topic published, not all scholars agree. Ariel Rubinstein makes an interesting observation. "The rise of neuroeconomics is coming at a point in time when economic theory is not producing any exciting insights." (2008, p.485) Rubinstein critiques...
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...There are many pros and cons regarding drug testing people before they are able to receive welfare benefits. Some people think it is a violation of their rights, the testing is not fail proof, and the cost is usually greater than the benefit. Those who are in favor of drug testing believe it will benefit the welfare system, help the tax payers save money and also help the children of the parents if they are using drugs. Government leaders and most of the general public look at it from a financial point of view while people who receive benefits look at it from a constitutional point of view. The government court system and judges are not backing the drug testing idea because of the fourth amendment. In my personal opinion I am for people being drug tested who receive benefits or any assistance from government funded programs. The middle class worker has to be drug tested to work, earn money and pay taxes. People who receive assistance should not be exempt from this type of requirement. What is Welfare? Welfare is a public assistance program designed to help people who are not able to support themselves fully. Welfare encompasses those government programs that provide benefits and economic assistance to no or low income individuals. It can also be defined as financial assistance to impoverished individuals which is supplied through the taxes paid by the working class. Improving the quality of life and living standards for the poor and underprivileged is one of the main goals of...
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...the product of the actor’s determination. E.g. A shoves B into C w/ result that C falls to death. Reflexive or convulsive acts Acts performed while the D was either unconscious or asleep UNLESS the D knew that he might fall asleep or become unconscious and engaged in the dangerous behavior. MARTIN V. STATE: Police arrested drunk Martin at home and brought him to highway – convicted of being drunk on highway Criminal liability must be based on conduct which includes a voluntary act or omission to act which was physically possible to be performed. Rationale: Law rests on premise that wrongful act must be chosen Volition separates an act from a bodily movement. My arm went up v. I raised my arm – you will your body to move PEOPLE V. DECINA: Epileptic suffered a seizure while driving;...
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...Negative Messages Spread Through Social Media DeVry University January 20, 2012 Devry Alum Creek Campus 1350 Alum Creek Dr. Columbus, OH 43209 February 20, 2012 Professional Writing professor Devry Alum Creek Campus 1350 Alum Creek Dr. Columbus, OH 43209 Dear Professor: We are pleased to inform you that the research report that was assigned to us is finally complete. The research report was about the negative impact on society through social media and we have learned quite a lot from this group project. As you read through our report, you should keep in mind what is being said to see the war we fight on social media. We feel that not only you but everyone should take the war on social media into consideration because it affects our lifestyle. Social media constantly shoves us toward choices that we might not want to make. It also shows your children the wrong way to feel about themselves and others; this could potentially lead to other endeavors in their life leading to bad mistakes and relationships. Thank you for your much appreciated time. Sincerely, Table of Contents Title Page i Letter of Transmittal ii Table of Contents iii Abstract iv Introduction 1 Impact on Relationships 1 Personal relationships 1 The evolution of signing on 2 The reversal of an initially positive social experience 2 Imperatively socially...
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...interact with others inside a larger context called society. Based on their purpose, organizations can be classified as for-profits, governments, or nonprofits. At a minimum, for-profits seek gain for their owners; governments exist to define the rules and structures of society within which all organizations must operate; and nonprofits (sometimes called NGOs—nongovernmental organizations) emerge to do social good when the political will or the profit motive is insufficient to address society’s needs. Aggregated across society, each of these different organizations represents a powerful mobilization of resources. In the United States, for example, more than 595,000 social workers are employed largely outside the public sector—many in the nonprofit community and medical organizations—filling needs not met by either government or the private sector.1 Society exists, therefore, as a mix of these different organizational forms. Each performs different roles, but each also depends on the others to provide the complete patchwork of exchange interactions (products and services, financial and social capital, etc.) that constitute a well-functioning society. Whether called corporations, companies, businesses, proprietorships, or firms, for example, for-profit organizations also interact with government, trade unions, suppliers, NGOs, and other groups in the communities in which they operate, in both positive and negative ways. Each of these groups or actors, therefore, can claim to have a stake...
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...BP Leadership Group Four MGMT 620 – High Performance Leadership 2/5/2012 Chadron State College Abstract The purpose of this analysis is to focus on British Petroleum (BP) leadership as it relates to the 2010 Gulf oil spill and cleanup. One would think that a large corporation like BP would be penalized greatly from an oil spill of the magnitude. Once the announcement was made of the spill, BP leadership was quick to shirk responsibility and circumvent its safety policies and practices which led to one of the greatest man-made ecological disasters the world has ever known. Prior to the spill, the leadership values and culture at BP are obvious. Their focus was on reducing costs and meeting tight time-lines at the expense of safety. The former BP CEO resigned voluntarily. What leadership values or traits changed as a result of the disaster at BP? Did the new CEO set forth a path of leadership change or rather simply pacify the media? The Gulf oil spill forced a rapid increase in fuel prices in the country. In one quarter during 2010, BP earned enough profit to cover the expenses associated with the spill, including the associated litigation. One astonishing fact is that, upon exiting, the (supposedly) punished CEO was given a settlement of over 100 million dollars from BP. What leadership changes have occurred as a result of this tragedy? Not much, why? Limited financial consequences for BP have brought about very little change in leadership...
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...The Boundaries of Strategic Corporate Social Responsibility Geoffrey P. Lantos Professor of Business Administration Box D-55 Stonehill College North Easton, MA 02357 June 2001 Phone: 508.565.1205 Fax: 508.565.1444 E-mail: glantos@stonehill.edu 1 The Boundaries of Strategic Corporate Social Responsibility Keywords Corporate social responsibility (CSR), Roles of business, Stakeholder theory, Ethical CSR, Responsibilities and duties, Altruistic CSR, Strategic CSR, Abstract Reviews the development of the corporate social responsibility (CSR) concept and its four components: economic, legal, ethical, and altruistic duties. Discusses different perspectives on the proper role of business in society, from profit making to community service provider. Suggests that much of the confusion and controversy over CSR stem from a failure to distinguish its ethical, altruistic, and strategic forms of CSR. On the basis of a thorough examination of the arguments for and against altruistic CSR, concurs with Milton Friedman that altruistic CSR is not a legitimate role of business. Proposes that ethical CSR, grounded in the concept of ethical duties and responsibilities, is mandatory. Concludes that strategic CSR is good for business and society. Advises that marketing take a lead role in strategic CSR activities. Notes difficulties in CSR practice and offers suggestions for marketers in planning for strategic CSR and academic researchers in further clarifying the boundaries of...
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...This week's graded topics relate to the following Terminal Course Objectives (TCOs): A | Given an organizational requirement to conform business practices to both the law and best ethical practices, apply appropriate ethical theories to shape a business decision. | I | Given specified circumstances of a business decision to expand to international markets, determine what international legal requirements or regulatory controls apply. | Topics for This Week's Discussion * Introduce yourself to your professor and the rest of the class. (not graded) * Thread over TCO A/I (graded) * Ethics and Patent Rights Post 9/11 (graded) * Q & A Forum for your questions and comments (not graded) | | There is a drop down arrow next to the "Select a Topic" box. Click on this arrow to select topics for discussion. | ------------------------------------------------- Top of Form Select a Topic: Bottom of Form The World Bank Situation (graded) | Class, please read Chapter 2, problem 5 from the Jennings text, p. 72. This week, we will discuss the Wolfowitz situation at the World Bank. Consider the questions at the end of the problem as you make comments in the threads this week. What are the ethics here? Was Wolfowitz trying to do the right thing? Does that make a difference ethically? Throughout the week, I will bring in further questions. Be sure to read the lecture and the international ethics article stated in your reading for the week as well. | ...
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...Chapter 2 Business Ethics and Social Responsibility Chapter Outline Introduction Business Ethics and Social Responsibility The Role of Ethics in Business Recognizing Ethical Issues in Business Improving Ethical Behaviour in Business The Nature of Social Responsibility Social Responsibility Issues Objectives After reading this chapter, you will be able to: • Define business ethics and examine its importance. • Detect some of the ethical issues that may arise in business. • Specify how businesses can promote ethical behaviour. • Define social responsibility and explain its relevance to business. • Debate an organization’s social responsibilities to owners, employees, consumers, the environment, and the community. • Evaluate the ethics of a business’s decision. Enter the World of Business The Leopard Did Change His Spots—They Grew The son of a wealthy brewery executive, Conrad Moffat Black was born August 25, 1944, in Montreal. After leaving home at age 18, he earned a history degree at Carleton University, a law degree at Laval, and an MA from McGill. An avid student of history, he has written several books (including an autobiography) about political figures such as Maurice Duplessis, Napoleon, and most recently, Franklin Roosevelt. Mr. Black purchased his first newspaper, the Sherbrooke Record, when he was 25 years old. Two years later, he added about 20 Canadian newspapers to his belt with the acquisition of the Sterling Company chain. Five years later, at age 33...
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...2.0 A GOOD PERFORMER “Why is employee’s motivation important?” it is because in today’s economy recession, it is more important than ever to have better motivated employees. A motivated employee is a productive employee. A productive employee is a more profitable employee. When people are not motivated, they become less productive, less creative and which could make the company loss their assets. When an employee works hard and believes there will be some kind of reward and does not receive one, the employee can easily stop the motivation of wanting to perform their duty. In order to enhance the connection between performance and outcomes, managers should use systems that tie rewards very closely to performance. Employees who are working hard every day want to feel needed and appreciated. Leaders or managers need to make sure the employees get what they deserve so that they would not feel useless and might make them less motivated to work. Motivating employees requires creativity and an understanding of the areas where employee performance exceeds organization's expectations. Motivation also may come for bringing improvement before become major problems. In order to improve the connection between effort and performance, managers should get a training to improve employee capabilities and help employees believe that added effort will in fact lead to better performance. 2.1THE EXPECTANCY THEORY Figure 2.0 Victor H. Vroom proposed the Expectancy Theory in 1964. Victor...
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...Stephen Mennell HISTORY, NATIONAL CHARACTER AND AMERICAN CIVILISATION America is a land of familiar paradoxes. An agreeable civility habitually prevails in most everyday relations among people in America – yet the United States is factually a socially highly unequal society. In most parts of America, the laws and social customs strongly restrain people from doing harm to themselves and others by smoking – yet the laws and social customs only weakly restrain people from doing harm to themselves and others by the use of guns, and the murder rate is about four times as high per capita as in Western Europe. The usa is the world’s remaining super-power – yet internally the American state is in some ways strikingly weak. The usa has ‘saved the world for democracy’ on more than one occasion – but has itself become an aggressive militaristic society. And there appears to be an increasing divergence between how a large proportion of Americans view themselves and their country and how they are perceived by a large proportion of the 95 per cent of the world’s population who are not Americans. Hunting down myths It has been said that sociologists must be ‘myth-hunters’, tracking down popular beliefs that are ill founded (Elias 1978: 50-70). Whether simply exposing such beliefs to contrary evidence deployed by academics is sufficient to kill off myths and bring them home for mounting on the walls of our university departments is highly debateable. Nevertheless, we have a duty to call...
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...CHAPTER 4 CHAPTER OUTLINE What Is Managerial Ethics? Criteria for Ethical Decision Making Utilitarian Approach Individualism Approach Moral Rights Approach Justice Approach Factors Affecting Ethical Choices The Manager The Organization What Is Social Responsibility? Organizational Stakeholders The Ethic of Sustainability and the Natural Environment Evaluating Corporate Social Performance Economic Responsibilities Legal Responsibilities Ethical Responsibilities Discretionary Responsibilities Managing Company Ethics and Social Responsibility Ethical Individuals Ethical Leadership Organizational Structures and Systems Ethical Challenges in Turbulent Times Economic Performance Social Entrepreneurship Managerial Ethics and Corporate Social Responsibility LEARNING OBJECTIVES After studying this chapter, you should be able to do the following: 1 2 3 4 5 6 7 Define ethics and explain how ethical behavior relates to behavior governed by law and free choice. Explain the utilitarian, individualism, moral rights, and justice approaches for evaluating ethical behavior. Describe how individual and organizational factors shape ethical decision making. Define corporate social responsibility and how to evaluate it along economic, legal, ethical, and discretionary criteria. Describe four organizational approaches to environmental responsibility, and explain the philosophy of sustainability. Discuss how ethical organizations are created through ethical leadership and organizational...
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