society as a whole. As an ideal, the communist doctrine defines a just city as one that eliminates the need for its citizens to wish to exploit each other. History appears to indicate that in practice, however, the communist vision cannot be fulfilled since “absolute power (which is given to the leader) corrupts absolutely” (Martin, 2009). Human nature does not appear to manage total supremacy well. 49 When authorities are left unchallenged, their characters appear to be altered, inverting their true
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ETHICS – PROBITY IN PUBLIC LIFE Integrity and probity in public life are the standards that society expects those elected or appointed to public office to observe and maintain in the conduct of the public affairs to which they have been entrusted. These standards are what safeguard the nation from corruption by politicians and public officials who have been given almost unrestricted access to public resources together with the power to take decisions that impact on the lives of everyone and the
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# 03 / 2009 © Irum Shahid Strengthening Corporate Governance to Combat Corruption ‘I call on member countries to work urgently with us to address major corporate governance failures. This will be a vital step to reinforcing market integrity.’ - Angel Gurría, Secretary-General, Organisation for Economic Co-operation and Development (OECD). The collapse of global financial markets in September 2008 has ignited a debate on what caused their quick undoing. As captured in the comments of the OECD
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Abstract Bernie Madoff’s investment business began as a side business that he started to manage investments for family and friends. Through word of mouth, he began attraction outside investors and Bernard L. Madoff Investment Securities was formed. However, a few people were not fooled and saw the danger behind the facade. A few people heeded the warning sign that were evident all around Madoff. They filed reports with the SEC on several occasions but they were too inexperienced to look deeper
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Chapter 3: Wild World: Competing in the Global Economy Key Terms Absolute advantage | Balance of payments | Balance of trade | Ethnocentrism | Euro | Exchange rate | Exporting | Foreign direct investment | Fair trade | Devaluation | Comparative advantage | Free trade | Importing | Joint venture | Licensing | Protectionism | Multinational corporation | Dumping | Embargo | Economies of scale | Embargo | Quota | Stereotyping | Strategic alliance | Tariff | Trade deficit | Trade surplus
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region to region (U.S. Department of State, 2004, Trafficking in Persons Report, Washington, D.C.) II. Background The federal Trafficking Victims Protection Act defines the crime of sex trafficking as “the recruitment, harboring, transportation, provision, or obtaining of a person for the purpose of a commercial sex act where such an act is induced by force, fraud, or coercion, or in which the person induced has not attained 18 years of age.” 2 Sexual trafficking has been recognized on an international
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Final Paper: Case Study of WorldCom Financial Statement Fraud Introduction This paper will discuss the financial statement fraud committed by WorldCom by examining what led up to the fraud, who committed it and why, and the impact it caused on various stakeholders and the economy. WorldCom applied aggressive and undisclosed accounting tactics to provide financial statements that reflected a $10 billion profit for the years 2000 and 2001, rather than the actual combined loss of $73.7 billion
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Ethics in International Business Chapter Outline OPENING CASE: Wal-Mart’s Chinese Suppliers INTRODUCTION ETHICAL ISSUES IN INTERNATIONAL BUSINESS Employment Practices Management Focus: Making Apple’s iPod Human Rights Environmental Pollution Management Focus: Unocal in Myanmar Corruption Moral Obligations Management Focus: News Corporation in China ETHICAL DILEMMAS THE ROOTS OF UNETHICAL BEHAVIOR Personal Ethics
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NGOs have grown dramatically, but it ostensibly fails to fill this gap. There are more and bigger NGOs here than in any other country of equivalent size. Here, NGOs have mainly functioned to service the needs of the landless, usually assisted by foreign donor funding as a counterpoint to the state's efforts. Besides all these, in the field of NGO, Financial Reporting process and application of accounting is disgraceful. NGOs in Bangladesh have increasingly become subject to question and criticism
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Ethical Culture Project PART 1: Enron displayed all four cultural dimensions which are: high-risk taking, outcome orientation, aggressiveness, and low/no people orientation as a company. Kenny Lay, who was the CEO and Chairman from 1985-2002, displayed high-risk taking during the Vahalla scandal. He had two oil traders, Louis Borget and Tom Mastroeni that would make bets for Enron on whether the price of oil would rise or fall. This is a risky market because you can lose ten times your original
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