What Was Up with Wall Street? the Goldman Sachs Standards and Shades of Gray

751 Words4 Pages
Home Log In What was up with Wall Street? The Goldman Sachs Standards and Shades of Gray WHAT WAS UP WITH WALL STREET? THE GOLDMAN STANDARD 1 Mohamed A. HassanPh.d Research ScholarWhat was up with Wall Street? The Goldman Sachs Standards and Shades of Gray AbstractThis paper discusses the business ethics in the organization through the examination of ethicalpractices conducted at Goldman Sachs Inc. The paper includes a list of all the actions executedby Goldman Sachs Inc which are defined in this paper as gray area practices. The paper alsopresents an ethical analysis of these gray area actions as well as all the parties that were affectedby the Goldman Sachs practices. Business Ethics The problem to be investigated is business ethics through the examination of ethicalpractices conducted by Goldman Sachs Inc and ethical gray areas which are situations and problems that don’ t fit neatly into any existing mode of ethical analysis within the business(Marshall, 2007). Business ethics are very important to inspire the employees and attract morewanting to work for the business. Business ethics are also important because if the business lacksgood ethics, this can damage the business reputation and make it less appealing to stakeholdersand that will lead to profit loss affect the whole business. Ethics of business has been discussed by Peter Drucker (Drucker, 1986, p. 254) which he said “ The problem is one of moral values andmoral education, of the individual, of the family, of the school. But there neither is a separate ethics of business, nor is one needed”. Drucker’s interpretation of business ethics is that personal ethics and business ethics cannot be separated and he gave an example of businessmen shouldnot cheat, steal, lie, bribe, or take bribes. But nor should anyone else. He also mentioned that “men and women don’t acquire

More about What Was Up with Wall Street? the Goldman Sachs Standards and Shades of Gray

Open Document