Riverside Bottling Company Ethics Case ACC/280 July 26, 2010 Riverside Bottling Company Ethics Case Rob Peter to pay Paul Company, so Paul can pay the John Company and John can take the money to pay for a million dollar home. The fictitious John Company exists so Peter can hide large profits from cooking of the cooks. The scenario sounds familiar, as the situations occurred with the unethical financial reporting of Enron, and WorldCom; companies not adhering to the guidelines of Corporate Social Responsibility. Corporate Social Responsibility (CSR) is the ethical standard of accountability for businesses, which measures simultaneously; economic, ethical, legal, and philanthropic procedures (Trevino & Nelson, 2007). This paper will focus on consequential effects of ethical and unethical financial reporting, and the cascading affects on all supporting investors of Riverside Bottling Company.
(Still think we are in a Depression not a rescission) Also the CEO of Enron for conspiracy and multiple counts of fraud is one example of dishonesty, fraud, disregarding one professional responsibility by given themselves Astronomical salaries and enormous benefits this reduces profits of the stockholders, who own the company. (Per the book Bus. 309 pages
The Sarbanes Oxley Act The Sarbanes Oxley Act was passed in 2002 to prevent fraud and discrepancies within the corporate world. Corporate companies have been and will be fined millions of dollars when they are not compliant with the strict guide lines provided by the government. The companies must disclose all financial statement to prevent the tremendous fines. They need to be monitored to keep them honest instead of corrupt. Was this act a step in the right direction to help keep corporations honest?
Which of the following is not one of the three ingredients? (Points : 1) Teamwork Education Determination Implementation Question 8.8. U.S. companies, mistakenly seeing quality as the issue, learned that quantity was the key to success in the global marketplace. (Points : 1) True False Question 9.9. Joseph M. Juran is best known for the Seven Deadly Diseases.
The recall brought Mattel lawsuit dealing with children illnesses and deficiencies, Causing Mattel to lose lots of money. Another big problem for Mattel was trade market and not manufacturing their product themselves and allowing the manufacturing to happen in China. This caused Mattel to not have control of what they were producing. This also gave Mattel’s competitors a chance to move up in the industry due to making more sale caused by Mattel’s lost in the consumer base. Alternatives Mattel needs to make a standard set of rules and regulation that need to be followed by everyone associated with the company.
Olympus handed over nearly US$700Mn in “advisory fees” to an entity in the Cayman Islands whose ownership and legal standing were unclear. When Woodford learned of this, he sought answers from the firm’s chairman, Tsuyoshi Kikukawa; but to no avail. Woodford’s description of the financial fraud was exceptionally clear – it was not the mob but managers, who tried to use accounting write-offs to cover up investment losses dating back from the 1990s that would have blown a hole in Olympus’ balance sheet (The Economist Newspaper Limited, 2012). The incident raised concern about the endurance of “tobashi (over concealment)” schemes, and the strength of corporate governance in Japan. The facts concerning the apparently irregular payments for acquisitions exposed in an article in the Japanese financial magazine, Facta (AFP, 2011) had come to Woodford’s attention and resulted in very significant
But by mid-1994, Hong Kong was having trouble keeping up its juggling act. Tipped off by falling revenues and soaring receivables -- since no one was paying for many of the glasses booked as sales -- B&L sent a team of auditors to Hong Kong. They discovered significant irregularities, including half a million pairs of sunglasses stashed in a warehouse. B&L's
Hence, Mr Watanabe opened discussion with Mr. Pickens from the U.S. Source: Case During the annual meeting, the Koito’s board of directors declined board representation for Pickens Pickens asked an access on Koito’s books and filed lawsuits against Koito for dumping practices that benefited Toyota Pickens announced his plan to increase his stake to 30% 2 2/7/2012 KEIRETSU: DEFINITION: | Group of large Japanese financial industrial corporations through historical associations and cross-shareholdings In a keiretsu each firm maintains its operational independence while retaining very close commercial relationships with other firms in the group. Horizontal keiretsus (such as Mitubishi Corp. and
According to Dr. Anna Nagurney (2011), The New York Times has some timely coverage of the immediate and more speculative impact on global supply chain post the earthquake-tsunami-nuclear set of disasters in Japan. Japan, as the world’s third largest economy, is a key supplier of automobile components (as well as automobiles), high tech products, including integrated chips, and even raw materials such as resins that are used in integrated circuit packaging. Factories that are affected by the triple disaster are shut down in Japan creating cascading failures across the globe with GM even closing one of its manufacturing plans in Louisiana. Not only has manufacturing been disrupted but with so many of the roads impassable, not to mention ports being damaged, the transportation of goods has come to a standstill in parts of Japan. Areas where there is radiation danger with radii of 20 miles to as far as 50 miles have taken on a moon landscape of inactivity since those who have not evacuated have been told to stay indoors.
Introduction The 7 habits represent a principle centered, character based, ‘inside out’ approach to personal and interpersonal effectiveness.The Seven Habits of Highly Effective People, first published in 1989, is a business and self-help book written by Stephen R. Covey which has sold more than 15 million copies in 38 languages worldwide. Covey identified a shift over the last five decades away from a concentration on character and core values, what he calls the Character Ethic, towards a concentration on behavior and actions, what he calls the Personality Ethic. Covey proposed an approach to successful management called Principle-Centred Leadership and to successful life called Principle-Centred Living. Covey’s belief is that we cannot become more successful people just by changing our outward behavior or attitudes. We first have to address our principles, the way we see things in the world around us, our perceptions of others.