These same individuals trusted and respected Bernard Madoff and yet he showed less than the mutual respect a professional investor should show toward his clients. Family members were not immune to his scheme. In fact, other family members were encouraged to invest and also bring in new investors into the fold of his deliberate hoax of profiting off of the rich and unassuming. Madoff showed that he lacked care and empathy for his clients, clearly a pure dereliction of duty, to provide the best information and protect investor’s financial investments. There were also unethical issues involving the entity that was supposed to secure and watch over those that are investing our money.
Break Breaker Inc. to some extent obey with some legal rules, but failed to comply with principles of morality and community, contribute to the society by producing honest high quality services, and account the consequence of damaging their reputation. I think that Solomon’s argument is fairly accurate, but everyone’s views are different on this. Some actions may be acceptable to some but unacceptable to others. Ethics provides the bigger picture in the business life and it must be understood. In my opinion, nothing is more dangerous to a business than a bad public image caused by being unethical.
Case: F. Oberholzer-Gee, T. Khanna, D. Lane, and E. Raabe. "Red Flag Software Co." Case No. 9-706-428. Published 10/26/2005, Revised 02/26/2007. Harvard Business School Publishing.
New York, NY HarperCollins Publishers, 2009, Kindle. Lewis, C.S. The Problem of Pain. New York, NY: HarperCollins Publishers, 2009, Kindle. Lewis, C.S.
It is clear that the parties involved in the Citigroup merger were operating under the moral philosophy of egoism. Egoism defines right or acceptable actions as those that maximize a particular person’s self-interest as defined by the individual. John Reed, Sandy Weill and Robert Rubin all acted in order to gain power and wealth for themselves; their actions were detrimental to the average consumer with deposits in their banks because the merger was risking their money in order for the individuals at the top to obtain monetary gains. They believed that they were doing right by themselves in this merger, by taking the opportunity that arose, and using business
Their position was lost revenue due to possible fraud and stealing by their own employees. These situations show a lack of compassion between Company Q and the community. The situations also show a lack of trust Company Q’s management has regarding their employees. It is my opinion that you cannot run a successful business if your management team has a lack of trust amongst the employees or not having the support needed from the community. * Part B Three actions that I would recommend for Company Q could take to improve the attitude toward social responsibility would be: In the higher crime rate areas Company Q could invest in a security process that would keep employees and the consumers safe.
If a company’s internal controls are not working properly customers and investors will be more doubtful and have second thoughts on their investments and money being safe which will lead to having less investor and the stocks will drop. It is very important for companies to have their internal controls up to date and making sure they are working properly because this can cause major setbacks financially. But there are some instances were internal controls cannot even stop unethical behavior from happening such as shoplifting in a shopping mall or even a bank
Financial Analysis A company’s strengths and weaknesses are better understood by their financial statements such as Income Statement, Cash Flow statement, and Balance sheet. As Financial consultants, our goal is to help CanGo understand their financial statements and where CanGo needs to improve to gain the competitive edge in the market. Every company needs to understand their own financials before analyzing the market or industry. After analyzing CanGo’s efficiency ratios, we found them to be very un-attractive for investors. For example, CanGo has a very high receivables turnover rate.
The offenses are harmful to not only businesses in the United States of America but to the world of business as a whole and are unacceptable. If the law had been in place, many shareholders would have been safeguarded but numerous investors lost their lifetime savings by company insiders. The corporate world is a much more secure place with regards to investing with all of the changes and modifications which are now enforced. I still think there are other actions which can be taken to protect shareholders even though the modifications have significantly improved the procedure. Businesses must develop an ethical balance so as not to take advantage of unknowing shareholders who have invested their lifetime
The central flaw is that Singer uses a bad analogy of how the global economy actually is, it assumes that the child has somehow appeared there of his own devices and that a simple act will save him. Many of Singer’s key principals, such as the importance of impartiality and the irrelevance of distance are very strong and I find it hard to disagree with them. Whilst I do not agree that to adopt Singer’s solution will cause actual harm to me it is not convincing as the most effective way to solve the problems of poverty. To follow Singer’s principal will amount to everyone else jumping in the water and drowning to some small degree. I believe that while Singer develops his argument by claiming that while people in rich states can survive without luxuries; those in poorer ones where most are manufactured could not survive, as their economic base would fall apart.