The targets of Special Agents who work for TIGTA are dishonest Treasury Department employees, as well as government officials and employees. In this book, the main target is Richard Onner, who is a computer expert working in the IRS National Computer Center. An anonymous tip had been received a couple years ago that
Moreover, The costs and benefits to an organization when they behave ethically. Lastly, I will choose one component from Svensson & Woods's model from "A Model of Business Ethics" and discuss how it is relevant for Anglo-American. Ethical Business Behavior Ethical business behavior refers to an organization actions and policies that are synergetic with "doing the right thing" (Sethi, 2003). In order for an organization to function ethically they must establish principles and set boundaries for employees and the other companies that they are involved in business with. Society as a whole is responsible to conduct business ethically.
Caldwell et al. (2006) noted that the duties of stewards were fraught with a complex set of ethical obligations. Many professional codes of ethics or rules are supposed to govern the ways and actions or conduct of laws given by the professionals within a professional business for you. Group of professionals generally sets these rules so that their professional peers see anyone who violations one of these rules of conducts are in violation of this rule as disapproval. The moral ethical standards of a society provide the basic guidelines for corporate ethical stewardship existence and allow us to resolve conflicts by social existence and allow us to resolve conflicts by appeal to shared principles of justification.
An organization can deter costly government regulations by being socially ethical and responsible “The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit.”(Wheelen, T. L., & Hunger, J. D. (2010). The organization should consider the communities needs before a strategic plan is developed and should determine the best course to meet the communities and stakeholders expectations. “Social responsibility, therefore, includes both ethical and discretionary, but not economic and legal, responsibilities.”(Wheelen & Hunger (2010)).An organization by being in good standing in the community where the business operates tends to develop a loyal customer base. A loyal customer base trends to adding value to the organization which meets stakeholder’s expectations “A firm can fulfill its ethical responsibilities by taking actions that society tends to value but has not yet put into law.” (Wheelen & Hunger (2010)).The organization can keep government regulations down by becoming socially active or responsible. An example would be Coca- Cola adopting a concept of only allowing diet drinks to be sold to high school students and water to be sold to middle and elementary students.
For example, Bernard Madoff was a respected financier who “helped” secure people’s money and put in a savings account. But what people didn’t know was that he would commit fraud by taking their money and fooling them it was all still there. He roughly took about $65 billion dollars in total from people. This hurt many people not only financially but emotionally as well. These people felt betrayed by someone who seemed so innocent can do such a crime.
Enron was described as “House Of Cards” as it was built over a pool of gasoline. It all sort of became smoke and mirror. Louis Borget, former Enron's CEO was also exposed to be rerouting company’s money to offshore accounts. Once their schemes were discovered by the auditors, Kenneth Lay encourages them to "keep making us millions". However, the traders were fired once it was revealed that Enron's reserves were gambled away which nearly destroyed the company.
George Keyworth was not a ethical person because he leaked confidential information and also let a investigation be opened, instead of being honest. CEO Dunn showed an ethical attitude and was forced to resign by board members, which describes the other board members to be unethical also. 2. Who are the stakeholders impacted by this situation? How would you rank their claims? Everyone related to this company is affected by this situation.
Many banks declared bankruptcies because they could not get back their money from stock investors. Thousands of banks failed to keep the money from flowing to the market that resulted in a widening circle of bankruptcies and job layoffs.Democrat Franklin D. Roosevelt won the presidential election by a landslide over Herbert Hoover in November 1932 and was inaugurated the following March. He had the first presidential speech when “the stock market was down eighty percent from its 1929 high, almost half the banks had failed, the GDP was down fifty percent, and unemployment stood at twenty five percent” (79). Franklin D. Roosevelt expressed the problems that Americans needed to overcome, and gave out the New Deal programs started from1933 to 1939 that were successful in addressing the Great Depression. The first phase of the New Dealwas called relief that helped millions of suffering Americans as soon as possible.
Unethical professional values were symptoms of systemic problems for Enron. “Enron’s systems of oversight, ethical disclosure, and corporate accountability were flawed leading to the demise of Enron” (Schuler, 2009, para. 2). In fact, in 1999 Enron directors waived the company’s code of ethics allowing the CFO, Andrew Fastow, to run an investment partnership that traded with Enron. Enron not only committed financial fraud, but it has been alleged that bribes
Role and Functions of Law LAW/421 October 22, 2012 Mark Rorem Role and Functions of Law Law clearly has an important role in society, both in business and otherwise. Laws help to guide behavior, ethics, morals, and the overall foundation of humans in society and businesses being run in society. Laws are the foundation of ethical behavior and provide guidelines for what is acceptable and what is not acceptable. The law also guides us on how to measure our performance in accordance with these rules and what consequences we may have to face for failing to abide by the rules. In society and in business, law is also present to help keep the peace, promote justice, provide guidelines for competition and intellectual property to govern business growth, and protect people and the environment.