You are on the board of an accounting firm overseeing the financial records of clients. A junior financial analyst has come to you with some irregularities in the methods utilized by a major client. These methods have created an increase in revenue for your client and may not have been deployed on the advice of some of your an
Design a Code of ethics for a start up company.
The insurance companies that failed to meet the expectations of the victims of Hurricane Katrina might undergo significant damage control efforts. According to Leslie Eaton and Joseph B. Truester (2007) "victims suffered many losses that were not covered" under the insurance plans. "Insurance companies that reneged on their promises, offered only pennies on the dollar in settlements, dribbled out payments, low-balled the costs of repairs, dropped long-time customers and sharply increased the price of coverage." (Eaton et al, 2007).
The insurance companies that failed to meet the expectations of the victims of Hurricane Katrina might undergo significant damage control efforts. According to Leslie Eaton and Joseph B. Truester (2007) "victims suffered many losses that were not covered" under the insurance plans. "Insurance companies that reneged on their pr
Why is it important to use words or language that is politically or culturally correct when writing business communication? How might this influence your choice of communication? Do ethics play a role in your choice of communication format when discussing negative news with other employees? Why?
Conduct online research on the case Pelman v. McDonald's in which it was alleged that McDonald's was partially responsible for the health problems associated with the obesity of children who eat McDonald's fast food. Should McDonald's and other fast food restaurants be judged negligent for selling dangerous products, failing to
I have Created a fictitious organization that exemplifies business ethics. The company chosen is a consulting firm. The name of our company is New Wave" Management Consulting. Please help descibe how our companies new ethics program would implement the following. References would help Monitoring How are ethics and inte
Present an issue (defective products) to the CEO, directors and managers. Details: An upcoming meeting with your new company's chief executive officer (CEO) and other executives is a great opportunity for you to share your knowledge of potentially defective products being sold to customers. You are not sure if others are awar
Recall a time when you worked for or belonged to an organization where the culture was "toxic." Briefly describe the culture and discuss how the ethical behavior of the employees or members affected the culture.
Look at a modern political movement or single figure and outline the practice of ethical/social responsibility... you might observe how this responsibility is dispersed among the population. Conclude with a personal reflection as regards the importance of ethical/social responsibility.
Describe the relationship between concepts of virtue, values, and morals in the simulation. Provide examples of how concepts in this simulation relate to your workplace. Explain ways in which external social pressures influence business ethics in the simulation.
Many companies use the computer to generate purchase orders. Who is responsible for authorizing a purchase when the computer generates the purchase order? How does the responsible individual ensure that computer-generated orders are correct and are generated only for purchases that should be made?
21. Management's risk assessment should include the following special consideration of risks that may arise from changed circumstances EXCEPT A. rapid growth. B. new technology. C. new personnel. D. domestic operations. 22. An effective accounting system should identify and record only the valid transaction o
1-Our class has a discussion going on about how ethics might hinder the bottom line and how ethics might benefit the bottom line? Can anyone give some input in regards to GM and their bailout? I have seen a commercial declaring they have successfully paid back the money ahead of schedule and now looking forward to new innovative
Emma Hanks, manager of a division that produces valves and castings on a special order basis, was excited about an order received from a new customer. The customer, a personal friend of Bob Johnson, Emmaâ??s supervisor, had placed an order for 10,000 valves. The customer agreed to pay full manufacturing cost plus 25 percent.
Some company employees have agreed with suggested changes in FCC regulations that will allow for more mergers overall in the media and TV industry, permitting consolidation of up to 45% control in a geographic market prior to the FCC prohibiting further consolidation of media assets. A magazine editor recently wrote "free TV an
"Business Ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer. Many businesses have gained a bad reputation just by being in business." (Crystal, 2010). In this document we will review a few examples of business practices that have caused an organization to acquire a bad reputation as well as executives that have utilized unethical business practices. "To some people, businesses are interested in making money, and that is the bottom line. It could be called capitalism in its purest form. Making money is not wrong in itself. It is the manner in which some businesses conduct themselves that brings up the question of ethical behavior." (Crystal, 2010). Business ethics involves proper code of conduct within organizations. Most organizations establish a set of principles in which employees, managers, and corporate executives should not deviate from. In essence, business ethics displays a sense of credibility to an organizations external environment. An example of the lack of ethics in corporate America is during the period of the financial crisis in the latter part of 2008: "The United States financial markets, and eventually all major world markets, were devastated by the aftermath of unethical lending practices by major lending institutions. These bad loans were made at the height of a real estate bubble in the United States. Aggressive lenders engaged in loans called "sub-prime mortgages." These mortgages were extremely high risk and most of them violated traditional underwriting standards for the industry. Prudence and ethics were pushed aside as greed overcame good judgment among mortgage lenders nationwide. The problem was exacerbated by the packaging, and leveraging, of these loans by Wall Street financial companies. These companies leveraged these bad loans, and sold them to unsuspecting buyers as bundled investments in the secondary markets." (Lewis, Kay, Kelso, & Larson, 2010). Business ethics contains good and bad practices and behaviors, the aforementioned example demonstrated the use of bad ethics. There are generally two forms of business ethics such as; descriptive and normative. ? Descriptive Ethics is the characterization or study of morality, an overall concept of what is good and acceptable vs. what is bad and morally unacceptable. ? Normative Ethics-is the act of supplying and justifying ones morality. I find that it is totally unacceptable for executives to accept bribes to buy another's business products because it is a symbolism of the philosophy of "quid pro quo" (something given or taken in exchange of something else). (Answers Corporation, 2010). Quid pro quo methods have also been the source of previous accounts of sexual harassment claims, i.e. if you want a promotion you must firs perform a sexual favor. I personally feel as though quid pro quo tactics often generate bad business behaviors and practices. In retrospect, some politicians have been know for utilizing this methodology (quid pro quo) in order to obtain an adequate number of votes for upcoming elections. Below is an example taken from an article (in its entirety) by Democracy for Vancouver (2008) that will defend my position on why accepting bribes are unacceptable:
"Business Ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer. Many businesses have gained a bad reputatio
What are your thoughts regarding if ethics can be taught? Can we teach people right from wrong from a business ethics perspective? Not only will you find popular thoughts on whether ethics can be taught, but you will also find out if business ethics can be taught to help others learn right from wrong in a business perspective
Review both Milton Friedman's "Traditional View of Business Responsibility" and Archie Carroll's "Four Responsibilities of Business", and develop an understanding of their ethical principles. You are also welcome and encouraged to research them using outside sources. You are to compare the two theories and create a PowerPoint p
Ethics is the practice of integrating moral principles in and outside of the workplace. Ethics enables a person to determine what is acceptable and what is unacceptable or the difference between right and wrong. It is my belief that if a person who follows all regulations, laws and guidelines, are adhering to the code of conduct set forth by the organization, however it does not mean that they are ethical.
Ethics is the practice of integrating moral principles in and outside of the workplace. Ethics enables a person to determine what is acceptable and what is unacceptable or the difference between right and wrong. It is my belief that if a person who follows all regulations, laws and guidelines, are adhering to the code of condu
See attached file. 1) Discuss the ethical concepts and dilemmas that are facing Valerie? 2) If you were Valerie, what would you do? Why? 3) Discuss the types of stressors are being experienced by Valerie. 4) Discuss Valerie's manager, Waters, in relationship to his ethics in handling business and employees. 5)
1-Why is strategic thinking critical to your current and future success in the workplace? Provide an example of how critical thinking has helped you in the past and how it may help you after graduation. 2-Do you think most companies have and enforce a code of ethics? Explain why or why not.
A visiting American executive finds that a foreign subsidiary in a poor nation has hired a 12-year old girl to work on a factory floor, in violation of the company's prohibition on child labor. He tells the local manager to replace the child and tell her to go back to school. The local manager tells the American executive that t
Utilitarianism is defined as an effort to achieve the greater good for the greatest number (WiseGeek, 2010). This philosophy is about quantitative measures instead of qualitative. During the decision making process the pros and cons are weighed in which case the utilitarian determines the best course of action to gain maximized results for everyone as a whole within an organization. The Kantian philosophy has to do with good will and the act of being good without qualifications (P.L.E., 2001). Kant's philosophy is that actions performed for the sake of duty have moral worth. An example of Kant's philosophy being utilized to the fullest potential are individuals who actively serve in the military, this is perhaps the first example that comes to mind. The choices necessary to live a good life could involve actions which entail results incompatible with happiness. In other words to live the good life will require doing tasks that are undesirable or uncomfortable in order to attain adequate result, i.e. the military's quest to protect our rights and ensure that we have freedom.
Utilitarianism is defined as an effort to achieve the greater good for the greatest number (WiseGeek, 2010). This philosophy is about quantitative measures instead of qualitative. During the decision making process the pros and cons are weighed in which case the utilitarian determines the best course of action to gain maximiz
How may ethics be taught in the workplace? Should an internal or external person be responsible for teaching ethics in the workplace? Many people think ethics should be left to individuals. Do you agree or disagree with this? Why?
Details: As you have already learned during your tenure at MV and from exposure to business news, it is not unusual for leaders and managers to encounter ethical situations. These situations often lead to assessment of organizational standards, personal values, and societal expectations to reach the right decision. As a category
1. Since the Enron scandal, Sarbanes Oxley has required controls and sign off of the financial statements by the CEO. This has codified into law what was expected of management. There is constant pressure to deliver the goods and report financial results in line with forecasts. What kind of ethical problems does this create?
Consider Maslow's theory for employees in their 20s, 40s, or 60s, and for employees who have high school, college, and graduate degrees. How does age and/or education level influence which stage of motivation might be most important? How should companies take that into consideration?
Answer the following in detail: 26. Describe, in detail, the four basic elements of strategic management. 27. List all of the requirements of the Sarbanes-Oxley Act and explain the impact of this act on corporate governance. Please number each of the requirements as you list them. 28. List and discuss, in detail, the t
The top management of General Electronics, Inc., is well known for "managing by the numbers". With an eye on the company's desired growth in overall net profit, the company's CEO sets target profits at the beginning of the year for each of the company's divisions. The CEO has stated her policy as follows: " I won't interfere w
Are the current accounting standards ethically based? Are ethics important to the accounting profession? Explain