He begins making a lot of money for the casino, which also means more money for Ace and his bosses. The bosses decide to send Ace’s best friend, Nicky, to Las Vegas to watch over Ace and the casino. Nicky does all the dirty work and collects money from people who owe Ace. Ace falls in love with Ginger and asks her to marry him and have his baby. She agrees even though she can’t let go of her past.
Evaluate Ethical Perspectives on Social Responsibility Joseph Nauseef Northcentral University Evaluate Ethical Perspectives on Social Responsibility Social responsibility is an individual’s responsibility to do what is right for their fellow man. It is really that simple, if the individual screws up, they have to pay for what they did to make it right, this is what the criminal justice system strives for, but what does it mean in business? Harvard law school defines social responsibility as “We define corporate social responsibility strategically. Corporate social responsibility encompasses not only what companies do with their profits, but also how they make them. It goes beyond philanthropy and compliance and addresses how companies manage their economic, social, and environmental impacts, as well as their relationships in all key spheres of influence: the workplace, the marketplace, the supply chain, the community, and the public policy realm.” (Harvard) So how do these two men define social responsibility and what does it mean to the real world?
The corporation’s money magically becomes the stockholders’ money” (Denning). What the author failed to realize is that the shareholders bought into the company, and are now owners of the company. That is how the corporation’s money somehow became the shareholder’s money. Making money will always be a corporation’s primary goal whether they want to admit it or not. But that does not necessarily mean they will ignore their social responsibility.
The perception of investors is determined by the information incorporated in the announcement itself and in firm specific characteristic, but also by economic conjuncture” The next reason of the board’s decisions lays in the fact that the GTX was prioritizing the relationships with stockholders, neglecting the other stakeholders at the same time. As for other kind of relationships between the stock prices, layoffs and mergers and acquisitions –
This film also displays how greed is good in the way of competition. When Gates stole Job’s ideas and created a competing company, it meant it would keep prices of personal computers at a reasonable price. Going back to Gordon Gekko’s speech in the movie Wall Street, he says, “greed in all forms- greed for life, for money, for love, knowledge- has marked the upward surge of mankind.” This quote epitomizes the thought of self-interest. When people go to school, go to work, and do productive things, they do it for their own benefit and personal gain. That’s greed.
That’s not enough for Eddie. He uses his new math skills to gamble with his money from the sale of his book to make more money. Making money gives Eddie a sense of power and he moves on to daily trading on the stock market to obtain capital for personal
In 1990, Enron’s CFO Jeff Skilling hired a well knowledgeable businessman by the name of Andrew Fastow who was well known for his works in the deregulation of the energy market. Enron’s company grew mainly due to the marketing and promoting its stock prices. Ex-employees stated the company posted current stock prices in elevators, bathrooms and other available areas of the building. From 1996 to 2001 they were named “America’s Most Innovative Company” by Fortune magazine and also made the “100 Best Companies to Work for in America in 2000. The case of Enron is said to be a “smoke and mirrors” act dictated by top executives presenting the positive financial wealth of the company.
Executives are hired to act as fiduciary agents of their stockholders for the purpose of increasing wealth (Smith, 2003). He argued that CSR amounted to spending the stakeholder’s money that clouded decision making by reducing the firm’s focus on maximizing profits, thereby placing the firm at a competitive disadvantage (Smith, 2003). Friedman’s approach is practical and takes into account the interests of both firms and society. However, it is not realistic to think that a firm can separate business and social responsibilities. According to Mintzberg "the strategic decisions of large organizations inevitably involve social as well as economic consequences, inextricably intertwined...there is no such thing as a purely economic strategic decision."
(http://www.investopedia.com/terms/h/hostiletakeover.asp, s.f.) c) The fact of Albert’s uncle giving him inside information on many companies about how to file for bankruptcy. d) Obtaining a bonus for buying stocks for his boss and his friends. 2. Discuss the advantages and disadvantages of each decision that Albert could make and has made.
DVR Tutorial Question 2 Case Study : Taking Responsibility – Union Carbide and Bhopal disaster 1) Does the corporation owe its first loyalty and moral responsibility to the financial interests of its owners or the local community and its employees who are affected by its operations ? The corporation does owe a bit of its responsibility to the financial interests of its owners but it owes its first loyalty to the local community and its employees . This was not shown because Union Carbide US didn’t want to take responsibility . In seeking to assign responsibility for the incident ,pressure from the corporate office to stop losses backed Union Carbide India into a corner that led to the cost-cutting proposal to slack off on safety measures that ultimately produced the disaster. As Milton Friedman said, the social responsibility of a business is to increase profits, then Union Carbide Corporation’s decision to approve the cost-cutting plan seems appropriate and acceptable.