an ethical culture must be established. First a code of conduct needs to be outlined. Next employees should be encouraged to follow these codes through consistent discussions of ethical and unethical practices, employees reporting questionable practices, and management not allowing them to be unethical. With these key principles, a company can maintain and develop an ethical culture that discourages manipulation of fair value accounting.
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one,” or if one is doing amazing amounts of charity work. Richard M. Scrushy is a case in point – he seemed to have it all, the all-American success story, yet dishonesty, and unethical practices, when engaged in hurt everyone – for a long time. As this author has explored through this Business Ethics class, unethical behavior looks only at the short-term, what can one get now? The Carpenter taught, regarding those who did not follow wisdom, that they were “like unto a foolish man, which built his
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Trials * Enron was one of the worst companies who lied about everything * Employees had 70% of their Martha Stewart A sign of a new era in chapter 7 textbook. We are not going to be putting up with things now. IBM, chapter 8, p. * Why did ibm not have any women managers? Tradition of the corp was: Fired all the men and hired all women IBM isn t much better than any other company with regard to women. * Issue: whether or not we practice the ethics we learned:
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ethics of the company, this employee will experience conflict. The ethics awareness inventory defines the first value as character. This feature focuses on the development of a solid principle of good morals. A person with good moral shows a strong behavior and strong beliefs in honesty. In addition, individuals who based their ethical perspective on good nature, look for traits such as honor, justice and integrity. In addition, they are focused on what is good that instead of how to do good. The second
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Introduction about the course * United Nations Global Compact’s CSR Principles * Pluralism * Strategic Management * Crisis Management * Climate of Trust * Creativity, A Climate of Innovation * Bribery and Corruption * Unethical Practices * MNC: Ecological Sustainability * Renewable Energy Sources – The advantages * Sarbanes-Oxley * Whistleblowers’ Act * Discrimination Based on Gender * Religious Discrimination * Conclusion * References
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principles for ethical behavior frequently starts with a policy on ethics. Businesses acquire a policy on ethics to guide their measures and to set up a general meaning of correct versus incorrect. According to the American Library Association, code of ethics is a handbook for suitable behavior (2012). Given the corporate ethical breaches in recent times, assess whether or not you believe that the current business and regulatory environment is more conducive to ethical behavior. Provide support for
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C H A P T E R 5 Business Ethics and the Legal Environment of Business Learning Objectives After studying this chapter you should be able to: 1. Understand the relationship between ethics and the law and appreciate why it is important to behave ethically. 2. Differentiate between the claims of the different stakeholder groups affected by a company’s actions. 3. Identify the four main sources of business ethics, and describe four rules that can be used to help companies and their employees
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jon24565_ch05.qxd 11/2/05 1:22 PM Page 138 C H A P T E R 5 Business Ethics and the Legal Environment of Business Learning Objectives After studying this chapter you should be able to: 1. Understand the relationship between ethics and the law and appreciate why it is important to behave ethically. 2. Differentiate between the claims of the different stakeholder groups affected by a company’s actions. 3. Identify the four main sources of business ethics, and describe
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The Rise and Fall of Arthur Andersen LLP In October 2001, Enron was accused of overstating their earnings in the last few years in excess of $1 billion dollars (Doost, 2001). At the same time, Arthur Andersen, one of the most reputable auditing firms, was responsible for auditing Enron’s financial statements. The Security Exchange Commission (SEC) ordered Arthur Andersen to provide all relevant Enron documentation and auditing files. Going against Arthur Andersen’s impeccable reputation of honesty
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not receive as much television and news exposure as Enron and WorldCom, but the fraud the Rigas family had engaged in caused the company to sustain tremendous losses. Adelphia was considered a family owned business to the Rigas family members. John Rigas had dominant control over the company and used his power in the company to engage in fraudulent activity to maintain the extravagant lifestyle they were used to living. Their unethical behavior bilked the company out of more than $100 million dollars
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