industrial and commercial businesses. The area had lost most of its industrial businesses and was in a revitalizing mode to turn it back to the industrial roots that had first started that area. Republic Windows & Doors was a small family owned business that made low-cost storm windows and doors (Lydersen, 22). By moving to Goose Island, the city committed almost $10 million in 1996 to help Republic establish the new building and to grow (Lydersen, 25). The money was funded through TIF (tax increment
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Comment on three unethical practices that china has been accused, do you think that these practices were necessary for china’s economic survival? China has been accused of various unethical practices in a host of industries. Overall, Chinese business ethics are built on the basis of "guanxi," a fundamental principle and practice underlying the whole of the Chinese social fabric. Guanxi places relationships and the moral obligations flowing from those relationships above other considerations, including
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The case describes an ethical dilemma that occurred in First America Bank. The sales division of the bank was preparing a 700 million USD loan contract for one of the bank’s former client - Poseidon Cruise Lines. Poseidon intended to order a large cruise ship for their fleet to a French shipyard, which required a contract to be signed for five years and in French francs. This in turn raised concerns in Poseidon management, related to the possible economic losses related to dollar-franc exchange rate
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Assignment #4 | | | | | | | | | | Introduction Modern businesses are facing major challenges if they plan on meeting that sensitive balance between business demands and customer satisfaction. The problem that exists is how to use the current guidelines in place that will provide a better business market without totally corrupting the fabric of moral integrity. While the concerning objective for most businesses is to make money, it is a delicate balance to do so without
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Research Study INTRODUCTION Accounting scandals in business firms arise with the disclosure of financial misdeeds by trusted executives of corporations. Examples of Accounting Fraud: • Merging short and long term debt into one amount to improve the perceived liquidity of the company • Failing to disclose risky investments or “creative” accounting practices • Over-recording sales revenue • Under-recording expenses (i.e. depreciation expense) Accounting fraud leads to many serious
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Global business practices were embedded into the framework of the corporation and allowed AIG to conduct business successfully overseas. The company found its new home in New York in the 1940s and continued to operate fairly in the insurance market. When Greenberg took over as CEO, the company was not performing well. This forced Greenberg to adapt a win at all cost approach to business. Although his concepts are driven by innovation, they do not account for ethical practices and ethics was not
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Table of Contents Case Summary 2 Affected Stakeholders 3 Ethical Dilemma 4 Why would a $500,000 salary cap prompt personnel to leave for other banks? 5 Was stripping of Lewis’ chairmanship a significant move on the part of BoA shareholders? 6 How could Thain justify spending $1.2 million on his office when Merrill Lynch was on the verge of bankruptcy? 7 What did Ken Lewis hope to gain by claiming that he was “pressured” into completing the Merrill Lynch deal? 9 Of all decisions made
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During the past two decades many organisations in both the manufacturing and service sectors have faced dramatic changes in their business environment. The secondary sector of the economy includes those economic sectors that create a finished, usable product: manufacturing and construction. Some economists contrast the wealth-producing sectors in an economy such as manufacturing with the service sector. Service’ can range from retail, insurance and government. Economists state that an economy
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Ken Lewis’ Ethical Dilemma by Kristen Carmichael Professor Kelly Global/Ethical Issues in Business August 20, 2010 Two years ago, Ken Lewis, the former CEO of Bank of America, was confronted with an enormous predicament when Ben Bernanke and Henry Paulson requested that his company immediately acquire Merrill Lynch to save them from declaring bankruptcy. With the financial system of the United States on the verge of collapsing, how do you say no to the Federal Reserve Chairman and the Secretary
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Organizational Profile: Wal-Mart Team ABC Ethics 316 June 11, 2012 Week Four Dr. Done It All Organizational Profile: Wal-Mart The following paper will examine the community organization of Wal-Mart. Specifically, insight into the organization’s involvement and responsibility to the community it serves will be shown. Additionally insight into factors influencing Wal-Mart’s social responsibility
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