Ethics and Business In this paper we will review how ethics plays a role in business by examining a memo that was written between two Enron executives. Enron was an energies and commodities corporation who is most known for their insider trading scandal in the early 2000’s that resulted in bankruptcy. They were one of the five largest audit and accounting partnerships in the world and their financial fraud caused clients and shareholders to lose millions of dollars. In this memo Sherron Watkins
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Ethics and the Conduct of Business, 7/e Boatright ©2012 / ISBN: 9780205053131 Chapter begins on next page > PLEASE NOTE: This sample chapter was prepared in advance of book publication. Additional changes may appear in the published book. To request an examination copy or for additional information, please visit us at www.pearsonhighered.com or contact your Pearson representative at www.pearsonhighered.com/replocator. C H A P T E R 1 Ethics in the World of Business Listen to
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INTRODUCTION AIGFP was founded in 1987. Henry Sosin and two others persuaded CEO Hank Greenberg to create a division focused on investments that fed on AIG’s AAA rating. AIGFP had made more than $60 million in the first six months. Sosin left in 1993 and was replaced as CEO by Tom Savage. In 1998, AIGFP had revenue of $500 million and had yet to divulge in credit-default swaps. However, later that year, with the backing of Joe Cassano, who was at the time COO, Savage signed off on the backing
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Summarize the major features of Texas Instruments’ management systems. 2. How does Texas Instruments ensure that its operating managers appropriately allocate their time between short term and long term? 3. Why do you believe the OST System worked so effectively for TI in the 70s? why was not working effectively for company in the mid-to-late 80s? 4. Would systems like these be appropriate in other organizations, such as Harvey-Hudson Electronics? What implementation problems would you foresee
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Question 1 The ethics defined by an organization are 1) social ethics. 2) professional ethics. 3) individual ethics. 4) legal ethics. 0 / 0.1 points socioeconomic ethics. Question 2 Which of the following statements about laws is least accurate? 5) 1) 0 / 0.1 points People in accounting and finance should be aware of the Sarbanes-Oxley Act. Anything published on the Internet is in the public domain and can be used 2) freely. 3) Assume that anything produced privately after 1989 is copyrighted
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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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ACN Anti-Corruption Network for Eastern Europe and Central Asia Ethics Training for Public Officials A study prepared by the OECD Anti-Corruption Network for Eastern Europe and Central Asia (ACN) and SIGMA, a joint EU-OECD initiative, principally financed by the EU, in co-operation with the OECD Public Sector Integrity Network March 2013 ACN Anti-Corruption Network for Eastern Europe and Central Asia ETHICS TRAINING FOR PUBLIC OFFICIALS A study prepared by the OECD Anti-Corruption Network
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Chapter Four Professional Accounting in the Public Interest, Post-Enron Purpose of the Chapter When the Enron, Arthur Andersen, and WorldCom debacles triggered the Sarbanes-Oxley Act of 2002 (SOX), a new era of stakeholder expectations was crystallized for the business world and particularly for the professional accountants that serve in it. The drift away from the professional accountant’s role as a fiduciary to that of a businessperson was called into question and reversed. The principles
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Licensed to: iChapters User Licensed to: iChapters User Business Ethics: A Stakeholders and Issues Management Approach, Fifth Edition Joseph W. Weiss VP/Editor-in-Chief: Melissa Acuña Acquisitions Editor: Michele Rhoades Developmental Editor: Daniel Noguera Editorial Assistant: Ruth Belanger Sr. MarComm Manager: Jim Overly Marketing Manager: Clinton Kernen © 2009, 2006 South-Western, a part of Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced
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Chapter 1 Ethical Reasoning: Implications for Accounting Ethics Reflection PENN STATE CHILD ABUSE SCANDAL: A CULTURE OF INDIFFERENCE What motivates an otherwise ethical person to do the wrong thing when faced with an ethical dilemma? Why did Joe Paterno and administrators at Penn State University look the other way and fail to act on irrefutable evidence that former assistant football coach Jerry Sandusky had raped and molested young boys, an offense for which Sandusky currently is serving
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