(b) What are the ethical issues involved in this situation? The ethical issues involved in this situation pertain to following accepted accounting principles. Violating the generally accepted accounting principles to satisfy a short-term personal or company would create misleading financial statements. This situation would therefore be unethical. Robbin Industries is jeopardizing itself by not properly reporting the advertising costs.
Hugh McBride will address who the company’s stakeholders are, define the end-state vision, identify and evaluate alternatives, identify and access the risk of the alternatives, recommend optional solutions, create and implement solutions, and to access the outcomes. Beltway Investments are McBride Financial Services major investor. There are some that anticipate for the company to be run by implementing corporate governance. The company’s CEO has decided not to implement this option. The new CEO would rather operate the company without interference of the “money man.” Even though, this maybe a gamble due to corrupt the thinking that would affect Beltway’s public credit.
Davey Jones could also argue misrepresentation—he was induced to enter into the contract based on representations made about the quality of the ship. There appears to be no evidence of fraudulent intent. As a result, Davey Jones will have to plead either innocent or negligent misrepresentation. Since he appears to want to cancel the contract, he can plead either innocent or negligent misrepresentation. If he claims fraudulent misrepresentation and is unsuccessful, then Davey Jones will likely have to pay Captain Jack Sparrow Inc. its full legal costs.
If this is an acceptable form of payment, how might you ensure that it is ethically sound and that no power differential exists between you and the client? According to licensing boards, Consumer protection agencies, risk management experts, and ethics committees, fair exchange bartering (all bartering for that matter) is largely frowned upon, as there is the potential to create power disparity (power differential) between the councilor and client (Zur, 2011). Moreover, there is a heightened potential for disclosure concerns, boundary
These factors played a major part in the employees behavior while causing some level of guilt to the supervisor. The proper response to Sands would be to voice the concerns surrounding the decision and implement a solution to avoid future situations like these. Any other response could cause conflict within the company if not expressed in the right context. 2. Losing Olds was a definite blow to Palmer’s team of accountants.
o A tendency to avoid reversing changes even if it was not the best choice o In reality, past expenditures are sunk costs and the organization should use a clean slate to look at new choices, but to the manager, this will come at great personal loss. • This relates to strategy because it is important to understand the effect management has on it. o If a manager will suffer personal embarrassment or a loss by adopting a new (although better) strategy, they are more likely to simply stick with the current course of action. o This can be avoided by assessing and addressing the problems of an organization prior to major investments being made o Implication on strategic choice, as they can act for the betterment or detriment of the organization. o Differences in manager’s preferences are specific to their individual personalities, experiences and situations.
The stress of the audit partner is tremendous and choosing that profession is one that I would prefer not to undertake. The anxiety and pressure to certify that a company’s financial records are in good standing can be daunting. 3.) Independent auditors are sometimes perceived as the “necessary evil” by corporate executives because of the possibility of exposing corruption. To change this point of view an auditor can try to explain their intent to educate and improve the company’s policies, which can in turn lower costs.
However, what I want to say is that if the company behave unethically as a whole, it may lose its consumer trust and undermine the firm’s reputation, then how can an employee realize his personal value? So we must try to avoid
The demographic makeup of leaders differs from organization to organization which reflects in policies and procedures differing and resulting in no concrete principles for all organizations to follow (Hellriegel & Slocum, 2011). If no organizational policies and procedures were in place, the organization would be susceptible to major problems which could undermine their profits or bottom line. By having these organizational policies and procedures in place, employees are aware of the significant consequences that can result if unethical activity occurs, which can include or lead up to termination of employment. Also, these policies and procedures lay the groundwork for defense against frivolous lawsuits set off by employees who have acted
Other problems include the company having a lackadaisical business strategy, internal conflicts among upper management, an information technology department that has not been well run and is frequently criticized by peer executives, and a lack of integrated business objectives that do not align with information technology objectives, the inability to prioritize projects due to unclear business objectives. This has resulted in project failure, a bad company reputation, loss of market share, and stock price tumbling. Carlisle believes that IZL Corporation is salvageable, but needs to upper management to do this. In this paper, the problem, recommended and alternative solutions, as well as implementation strategies are discussed. Key Issues The key issues for Jack Carlisle, according to Robert Austin, are recorded in the informally published manuscript, Jack Carlisle, CIO.