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.
INTRODUCTION At times we may wonder what is meant by ethics, why accountants need ethics in their business life or even how they are related. As we may know, definitions of ethics vary with time but in most cases it is defined” With these definitions we can understand that basically ethics is knowing what is right (Mitchell 2009). Ethics in accounting and finance a global concern today (Onyebuchi, 2011). However, the accounting and finance sector has over the past years developed a culture of ethical misconduct (Gianneti & Yue Wang, 2014). According to Anup & Chadha (2005), Ethical misconducts often lead to corporate scandals that come with serious consequences e.g.
Organization culture is one of the most important yet often overlooked aspects of many businesses today. These are powerful influences on the way people live and act, and they define what is "normal" and how to sanction those who are not "normal In a nutshell it is considered “the way we do things around here”. It is the specific way of doing make business, treating customers, getting along with colleagues and responding to change (Bermer 2010). In the case of the Chrysler motor company, a change in organization culture was needed where the company was in bankruptcy and was being restructured with the Fiat corporation. Chrysler brought in a high powered CEO by the name of Sergio Marchionne to undertake a Major Strategic and
The responsibilities of an audit partner in an accounting firm is to review the accounting actions performed by their client and notify them of any corrections that are required. The CFO of a large public company should oversee all of the company’s finances so that it is steered in the right direction. The audit partners role is weighted heavier in that their responsibility is to the public, not just one company. If the CFO is unable to do his/her duties, then the audit partner should find and report those inaccuracies. The stress of the audit partner is tremendous and choosing that profession is one that I would prefer not to undertake.
1. International Legal and Ethical Issues Cynthia Debose October 07, 2013 Law/421 University of Phoenix Chontele McIntyre 2. Once an individual completes the simulation, he or she can see that there are many problems concerning the practices, and resolving of international transacts disputes. It was hard trying to work through the difficulties of dealing with two different sets of protective laws. One problem encountered was attempting to develop one agreement that would represent two different companies, each with its own set of government policies regarding business. Every company involved must do its part of resolving any legal disputes, such as drafting a choice-of-law clause.
The senior most executives drew up strategies in line with their business’ goals which were then communicated down the organization’s management structure for implementation. At corporate level, strategies were drawn up towards decision on business growth, competition resource allocation etc. However, strategic management is applied in assisting a company to realize and react to changes in their business environment such as stock market fluctuations, technology advances, public criticism, accidents and natural disasters. In many incidences, changes in business environment which are obvious are not detected early enough, and such businesses suffer the boiled frog phenomenon (Pollard, 2004). Enron is an example of the boiled frog phenomenon.
Business Ethics Individual Assignment Due date: Thursday, November 29, 2012 Submitted by: Dwight S. Williams Summary of “The parable of the sadhu” An analysis of the parable written by Bowen H. McCoy has many thought-provoking discourse and debates but I would like to highlight three main points. 1. A lesson in Corporate Ethics --- if the organization does not inculcate a value system then managers may not be supported when the organization is faced with simple or complex ethical issues despite the moral standards of individuals. Ultimate moral standards may be similar but implementation approaches may differ and so moral justification must be based on sources external to the conscience of individuals. However, such a value system must be cognizant of and be sensitive to the individual needs and manage them to the benefit of the organization.
The attacks on New York City’s World Trade Center and Hurricane Katrina were major events the effected the United States. The American Red Cross came under heavy scrutinizing due to how they handled these events. Determine and discuss the ways in which ARC’s corporate governance failed to provide formalized responsibility to their stakeholders. Corporate governance is formal system of accountability, oversight, and control companies put in place to remove the opportunity for employees to make unethical decisions (Ferrell, Fraedrich, & Ferrell, 2011, p. 42). Ferrell, Fraedrich, & Ferrell go further and give the following definitions for each aspect of this system: Accountability refers to how closely workplace decisions are aligned with a firm’s stated strategic direction and its compliance
| Case Analysis | Empress Luxury Lines | | Naomi DukesNovember 3, 2012MGT 500Dr. Glenn RodriguezStrayer University | | | Case Analysis: Empress Luxury Lines Introduction An ethical issue is present in a situation when the actions of a person or organization may harm or benefit others (Daft, 2010, p. 130). Ethical or unethical decisions in business can have far reaching implications because of the many stakeholders involved. The Empress Luxury Lines case study details the decisions and activities of the organization and its upper level management. Kevin Pfeiffer, a computer technician on new hire probation, was asked to act unethically in regards to an insurance claim.
In today’s era of economic relations business ethics plays a vital role. It is of very importance at all levels of business, corporate, state or international. The questions of a firm’s community responsibility and business ethics are engrossing business more and more - both domestically and internationally (Sims 2006). This trend is highlighted by disgraceful cases illustrated by violating rules of ethical behavior. The rules and regulations of ethics and behavior are affected by the basic values of the goals of company with in the community.