Business Research Ethics RES/351 May 28, 2012 Negussie Nega, M.A., DM What unethical research behavior was involved? In 2002 Citigroup Inc. was part of a lawsuit where analyst released biased information concerning stocks to the investors causing many individuals to lose money. The memo stated the analyst was reluctant to release the information because they fear a backlash from the investment bankers. The unethical behavior in the article was that several securities firm violated a basic ethics code when the research department doctored number that misleads the investors. The investors purchased stock based on tainted research.
The University of California was in error of poor ethical codes. Bin Han would not have gone through all of this if the University had better control of business research. There were others that felt the repercussions of this case. A California State Legislator, Judy Chu, has said this case had the same type of allegations as a former one, Dr. Wen Ho Lee, a physicist, charged with stealing classified materials. Asian Americans are said to be marked by these types of actions.
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.
Raga Pribadi Mr. Randolph Academic English 11 2 March 2011 Denying the Undeniable How much longer will it take for one nation to tolerate those who accept the unacceptable and hide the immoral acts they committed? Subsequent years of mistakes hidden and made by role models, heroes, and leaders reveal that their tolerance of their baneful deeds led to destruction. Consequences caused by their carelessness not only impacts themselves, but also the people who surround them. Observing their campaigns and terms, proof of wreckage and downfall resides within political leaders such as: Bill Clinton, Rod Blagojevich, and Lewis Libby proved why the passive acceptance of their own injustices may be the greatest evil of all. All the while during
There were also unethical issues involving the entity that was supposed to secure and watch over those that are investing our money. That entity, known as the Securities and Exchange Commission, failed to properly investigate certain claims that were made against Madoff long before this scheme broke wide open. The SEC was warned numerous times about the inconsistent information from Bernie Madoff. Ethical misconduct within this case has made more investors aware of what is needed besides forking over large sums of money and charitable contributions to someone who claims they are doing the work of the people. Investors now know that it is also their job to challenge and be more “in tune” to what their money is doing and how their money is working.
One huge internal control concern with LJB Company is violation of the segregation of duties internal control principle. The accountant should not serve as Treasurer and Controller. The same employee should not be responsible for related activities and record keeping should be separate from physical custody of the asset. By having the accountant order, pay and receive supplies increases the risk for fraud because they handle related purchasing activities. They can easily use fraud to authorize payment for a false invoice.
If we want to help the people who are suffering in this crisis and recession, then we should make financial policies with them directly in mind. Just throwing money at the banks will not get the job done.” In reference to “Bailout Nation”, Wolfson proves that bailing out large insolvent banks hurt the taxpaying people. He brings to light where the people’s money really goes, and how it’s
In addition to that, the stock market crashed because of a weak-banking system and because of the fact that the Government allowed businesses to make decisions even if it hurt everyone else. If people did not take advantage of loans, then the Great Depression would have never happened
It establishes a fundamental systems and processes for presenting and detecting misconduct, for investigating and disciplining, and for recovery and continuous improvement (Ferrell, Fraedrich, & Ferrell, 2011). The corporate governance did not protect the stakeholders because there was embezzlements from some employees and greed from the executive leadership. There was a lot of turnover at the executive level which made the organization weaken and may not able to carry out its mission. Not having this process in place to detect when there was some unethical acts being taking place has caused a lot of turmoil for this no-profit agency. There was not process in place to follow for recovery for when a mistake was discovered or a problem was reported.
Ethicality of Accounting Activities The WorldCom case is an example of unethical behavior performed by a company by abusing accounting activities to reflect misleading financial information. In this case the main cause of this unethical behavior is greed and neglect by the executives that allowed and encouraged this behavior. On the other hand, WorldCom employee Cynthia Cooper is a prime example of ethical behavior that took place to uncover the wrong doing of individuals. Upon reading an article of a former financial analyst, Cynthia Copper’s mind was intrigued, an audit was conducted on capital spending. In the WorldCom and Cynthia Cooper case unethical behavior was evident in multiple departments and involved top key players that tried to cover up the fraud.