Daniels Fund Ethics Initiative University of New Mexico http://danielsethics.mgt.unm.edu Banking Industry Meltdown: The Ethical and Financial Risks of Derivatives INTRODUCTION The 2008–2009 global recession was caused in part by a failure of the financial industry to take appropriate responsibility for its decision to utilize risky and complex financial instruments. Corporate cultures were built on rewards for taking risks rather than rewards for creating value for stakeholders. Unfortunately
Words: 6137 - Pages: 25
Citibank performance evaluation system Until 1994 Citibank performance evaluation system was based on the quantitative measure (financial measures) not both quantitative and qualitative measures (MBA6220, 2011) due to the type of services offered by the bank. With the change in Citibank’s strategy in California it was essential to measure both the qualitative and quantitative measures and a new performance evaluation system was tested in 1995 to be introduced from the first quarter of 1996. The performance
Words: 1389 - Pages: 6
many of the world’s largest top banks. While a controversial decision, the US government acted on the belief that these institutions were ‘too big to fail’ and their collapse would have far reaching consequences that could have lead to a much dire situation. Throughout this essay, the causes and effects that lead to the GFC and the need for a bank bailout, along with what exactly it entailed will be presented. Then, the US governments’ response in bailing out the banks will be analysed using both a
Words: 3436 - Pages: 14
trust directly affects the well being of employees as well as their ability to perform their tasks. Recent historical events suggest that trust between employees and management has been negatively affected however, with the enactment of new laws and ethics policies has there been a strengthening of this trust relationship in recent years? This paper discusses the history effecting trust between employees and management and the related changes that have been implemented in attempts to improve this
Words: 5125 - Pages: 21
Employment-At-Will Doctrine Ayesha Kapoor LEG-500 – Law, Ethics and Corporate Governance Dr. Angelina Audrey 28th July 2012 Employment-At-Will Doctrine: At-Will employment is a doctrine of American Law, that defines an employment relationship in which either party can immediately terminate the relationship at any time with or without any advance warning and with no subsequent liability, provided there was no express contract for a definite term governing the employment relationship and that
Words: 2380 - Pages: 10
Daniels Fund Ethics Initiative University of New Mexico http://danielsethics.mgt.unm.edu WorldCom’s Bankruptcy Crisis INTRODUCTION The story of WorldCom began in 1983 when businessmen Murray Waldron and William Rector sketched out a plan to create a long-distance telephone service provider on a napkin in a coffee shop in Hattiesburg, Miss. Their new company, Long Distance Discount Service (LDDS), began operating as a long distance reseller in 1984. Early investor Bernard Ebbers was named CEO
Words: 4011 - Pages: 17
morality and so on. There is much written about business and organizational ethics but there is little written about the behaviors that people display to demonstrate they are ethical humans. It is almost as if an organization is perceived as an entity capable of doing behaviors without the human element. Decisions within the corporate world are shaped not merely by ethical ideals but also by economic, social, political and legal constraints. Christian ethics, for most people, becomes the art of discerning
Words: 7161 - Pages: 29
[pic] Report On Global Financial Crisis: Recovery and Challenges “In the perspective of United States of America” Course Details: Fin603: Financial Institutions & Market Section: 01 Submitted to: Dr. Salehuddin Ahmed Professor BRAC Business School BRAC University Submitted by: Group- 5 |SL. |Name |ID No. |Signature | |1 |Mohammad Ishtiaque Hossain |14164090
Words: 8158 - Pages: 33
ETHICS IN BUSINESS . Table of Contents Introduction: 1 Body one what is ethics: 2 Body two the four views of ethics: 3 Body three the ethical challenges: 5 Body four companies reaction to unethical action: 6 Conclusion: 7 The summary: 8 References and bibliography: 9 Introduction: Management is an exiting topic to study. It gives people the ability to interact with the recent action around the world. Also it gives people the authority to judge the situation, and make a
Words: 2663 - Pages: 11
Ethics Case Halliburton Plc. & Washington Inc.: The Power of Politics in Corporate Business Success As a general rule, correcting market failures is best left to the government. Businesses cannot be trusted to get it right, partly because they lack the wherewithal to frame intelligent policy in these areas.[i] Free-market economist Adam Smith (1723-1790) states that if self-interested people are left alone to seek their own economic advantage, the result, unintended by any one
Words: 3159 - Pages: 13
