The corporate culture within Enron focused on the bottom dollar. It was one of greed, look the other way and competition to excel at any costs. The culture was such that it encouraged breaking/ bending the rules to turn a profit. It was describe as having a culture of arrogance that led their employees to believe they could handle increasingly greater risk without facing any danger. Their accounting system used corrupt measures to show profits.
In the era following the Civil War, Industrialization had many leaders. These leaders achieved the great growth of the economy and industry of the United Sates, leading the United States to become the leading industrial power in the world. Many historians question how honest these men were with their actions, we critique them because of the way they distributed their fortunes. It is true; many of these industrial leaders did cause harm socially, creating barriers and many competitions nationwide. They are called “industrial statesmen” for the great economic power they helped America become.
This company has made many strategic alliances for gasoline for testing vehicles with General Motors, Toyota and ford. Chevron is the owner of Shell in the United States and also has also a subsidiary, Chevron Shipping Company that provides maritime transport operations. According to Fortune Global 500 it is listed on the 10th place, the Financial Times Global 500 ranks it as in the 9th place and Forbes Global 2000 in the 16th place. Exxon Mobil This company evolved from a local marketer of kerosene in the U.S. to the largest publicly traded petroleum and petrochemical company in the world. The Standard Oil Company in Ohio was founded by Rockefeller and associates in the 1870.
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.
This firm was the one that would set J.P. Morgan out from the rest, because it is here that Morgan had accumulated most of his wealth and business assets. When Tony Drexler had died in 1893, the firm was renamed J.P. Morgan & Co. the company still held its strong bonds with all its other roots in Philadelphia, Paris, and London. With this acquisition, Morgan’s company had been recognized as “one of the most powerful financial institution in the world”. He had also supported Edison’s Electric Company throughout the 1870’s and the 1880’s, which would later be renamed General Electric, which would be where most Americans would get their energy power from. Even after the Civil War had ended Morgan saw many of the future railroad opportunities, and
Reagan was born February 6, 1911, in Tampico, IL. He died on June 5, 2004, in Bel-Air, Los Angeles, CA. I believe Ronald Reagan is the best president because he helped with America’s economy, he worked with the Soviet Union, and he was fully against drugs. One reason Ronald Reagan was the best president is because when he was president, America’s economy had been at its best. When Reagan had taken the oath of office on January 20, 1981 our country was experiencing one of the worst economic times since the Great Depression.
(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
Ethics Paper MGT498 Ethics Paper One of the biggest things that big named organizations sometimes tend to forget is that when difficult decisions must be made, they affect everyone within that organization. Whether it be budget cuts leading to loss of hours or layoffs, lower stocks percentages for the shareholders or it can even change things positively, and require more production of hiring. Either way, when issues come up and things change, it is important to keep everyone involved well informed and made in the best interest of those directly affected. In the business world, corporations have a responsibility to the employees as well as the stakeholders to be ethical in their decision making by staying true to their beliefs and behavior to society. When unethical decisions are made, everyone involved in the corporation and its well being are affected in a negative way and will jeopardize the well being of the business.
Case 8: The Fraud of the Century: The Case of Bernard Madoff Introduction Bernard Lawrence "Bernie" Madoff is a former American businessman, stockbroker, investment advisor, and the former non-executive chairman of the NASDAQ stock market. He is very successful in his early life. Madoff founded the Wall Street firm Bernard L. Madoff Investment Securities LLC in 1960 by buying and selling over-the- counter stocks that were not listed on the NYSE. As he became more successful, he moved the company’s headquarters from Wall Street to the famous “Lipstick Building” on Third Avenue. After that, Madoff started to help his investors to manage their money.
When there is an increase pressure or incentive individuals are more likely to rationalize for fraudulent actions. Also when an individual is pressure to save jobs or to keep a company afloat there is likely a rationalization of a fraud. If employees are aware of the violations of the company’s ethical standards and know that any breach from these standards will not be tolerated and the senior management is following by these strict ethical standards, fraudulent behavior becomes difficult to rationalize. Mr. GAN Dalf the CEO of The Two Towers Bank personally hired Fred Bagg for the post of Chief Financial Officer, despite that fact that Fred Bagg does not possess the necessary qualification for the post. Fred Bagg on the other hand can argue that he was hired despite the CEO knowing that he thus not have the requisite skills to produce proper financial statements, and to ensure that the financial reports is free from all misstatements.