Ethics in Leadership Why is Ethical Leadership a Social Responsibility? * Enron * Wells Fargo * Penn State * Lehman Bros. * MF Global Does the general public have a positive impression of the organizations listed above? Now we know, on average, that there are ethical employees at these firms. However, the employees did not lead them to their corporate demise or negative public perception. It was leadership culture without social responsibility as a cornerstone. And
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company’s mission and vision. Ethics is important and has a vital role in a company. It affects policies, practices, and procedures. These policies are set by individuals or groups and must be influenced by the culture of the company. Ethical behavior depends on an individual’s moral judgment. Therefore, policies are set to administer the order and structure in the company because employees do not always follow policies and regulations. Companies are faced with difficult decisions every day,
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what it really is. The second issue for the company was making fake accounting entries to make them look like they generated revenues from corporate unallocated revenue accounts. WorldCom had approximately $3.8 billion in fraud of June 2002. For unethical practices WorldCom was capitalizing their products when they should have been expensing them. As well WorldCom was generating revenues to corporate unallocated revenue accounts. To counter this measure the external auditors are to sample this company
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Forensic Accountants: Fraud Busters Strayer University Business 508 August 11, 2013 Abstract The paper will determine the five important skills a forensic accountant must possess and describe their role within a courtroom environment. It will also analyze the legal responsibility of the accountant while serving its clients business. Giving two examples where a forensic accountant played an important role in aiding attorneys in presenting fraudulent bookkeeping records of company’s
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Business Research Ethics Res/351 Ben Millard Daliah Adams January 23, 2012 The business I researched was Countrywide Financial, the long time biggest sub-prime mortgage lender who saw their demise in the midst of its shareholders voting the company out of existence. Countrywide faced business practices prosecution in June of 2008 ranging from deceitful conduct, very lax standards that were provided to the sub-prime borrowers, misleading marketing to sell mortgages that had hidden fees as a
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of being socially responsible are enormous. With larger companies there is an infrastructure of people that are hired directly to ensure that many social responsibilities are met. Granted we have seen several high profile companies (WorldCom and Enron) that have broken numerous laws, but they are still the exception because these companies are so large it became a mainstream event in regulations, news outlets, and economic impacts. The larger companies comprise less than 1 percent of all businesses
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responsibility Corporations have a great deal of responsibility to their stakeholders to make the best decisions for them as possible. However, the decisions should not be unethical that the reputation of the corporation is jeopardized. "Ethical responsibilities of an organization's management are to follow the generally held beliefs about behavior in society (Wheelen and Hunger, p. 58)." The courtesy to the community and the stakeholders of informing those affected of layoffs, closing business, or any other
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Debunking the Goal Setting Theory Presented to Trudy Dunson, Instructor MGMT 2125, Performance Management By Andrea Smith 10/13/2014 Often times in the business world, organizations become so fixated on the goals they set, that when they begin to go wrong, an organization will invest more into that goal instead of looking for a different path. Oliver Burkeman’s book, “The Antidote: Happiness for People Who Can’t Stand Positive Thinking” devotes a whole chapter to the importance or lack
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NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Learner: MGT7019-8 THIS FORM MUST BE COMPLETELY FILLED IN Please Follow These Procedures: If requested by your mentor, use an assignment cover sheet as the first page of the word processor file. The assignment header should include the Learner’s last name, first initial, course code, dash, and assignment number (DoeJXXX0000-1) justified to the left and the page number justified to the right. Academic Integrity: All work submitted
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responsibility the organization has to the greater good of the overall society that it operates in. While profits are always the main goal of an organization it cannot be the only driving force of an organization. This would lead to immoral and unethical decisions, which will ultimately result in a lose-lose scenario for both the organization and society as a whole. Strategic plans should consider all the stakeholders’ needs, ethics, and their overall social responsibility. Stakeholders can be considered
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