BUSINESS SOCIETY and ETHICS (BBMM501)
Case Study Report
DUE WEEK 5.1
Learning Outcome Assessed: a - e
Weighting: 30%
Written Report Case Study Analysis (2000 words)
Assessment -2
Ethics, morality and leadership: The AWB scandal
The series of corporate scandals and transgressions that have emerged over the last decade, including those associated with Fannie Mae, Freddie Mac, Alcoa, Enron, HIH, Merck, Lehman Brothers, Parmalat, Union Carbide and WorldCom, have not only contributed to global financial crises. They have also raised questions about the quality of corporate leadership and ethics, and damaged the psychological relationships between such companies and their multiple stakeholders. Studies of such scandals and
…show more content…
But whether this clears the government of responsibility for not acting on the many tip-offs about AWB’s behaviour depends on whose test you use.41 According to Australia’s prime minister at the time, John Howard, the test should be one of ‘reasonableness’. In the press conference following his appearance at the Cole Inquiry a few hours earlier, the prime minister countered arguments that his government should have acted on the dozens of warnings by citing others who had been duped by AWB. However, there had been numerous earlier warnings of AWB’s unethical practices.42 For example, just a month after AWB made its first payment of US$500 000 into the Jordanian account of transport company Alia (half owned by the Iraqi government), the Canadian Wheat Board was told by the Iraqis that to have its wheat contract processed it would have to pay US$700 000 into the same Jordanian account. The Canadians duly quizzed the propriety of such ‘trucking fees’ with the UN’s Office of the Iraq Program, to be told it was indeed illegal. If that was the case, then why was AWB doing just this, they asked.
Questions:
Assessment AWB was a Govt owned company. clearly it had been violating not only the corporation laws but also the morality and ethics principles. Awb was involved in the act of bribing its overseas clients to keep
6. Many drug safety research studies are sponsored by pharmaceutical companies that would financially benefit if the results of the study are favorable. Is this an example of a potential confounding factor?
But for another example a pizza shop in competition wit a fried chicken shop would be indirect because the products are not the same but they are still competing for sales.
Willow Bend Hospital’s compliance does indeed have multiple deficiencies and is in need of review as many were updated in 2009 and 2010. All information on deficiencies would be found on the latest updated version of the Joint Commission Information Standards. This should be located within the Corporate Compliance/Risk Manager’s office. As this information is not currently available to this writer without a subscription and fee, I must use the information available to me. So expansion and explanation of policy details are limited.
1. (5 pts) Describe the metabolic process providing your energy while you were walking (at an easy pace) before the bee stung you. Include which molecules are being consumed.
A. As we (as nursery nurses) are the ones that spend time with the children and look after them, we are the first contact for not only the children but for their parents too. So it’s very important that we are seen as professional and competent people at all times. I, as an individual, work alongside a small team of professional childcare workers to support, inspire, care for and look after all the children within my care. I will maintain a safe environment for the children to explore, learn and play in. I am polite to other staff, children and parents and communicate well with everyone.
GCC entered into a non-prosecution agreement with the U.S. Department of Justice. GCC has acknowledged its responsibility for the conduct relating to the findings of the investigation. The U.S. Department of Justice has ordered GCC to pay a criminal fine of $20,469,694.80 fine as part of settlement. GCC is also paying disgorgement of $51,174,237, and prejudgment interest of $4,107,660 to the commission. A disgorgement is giving up the profits that were obtained by illegal activity. GCC is also required to have follow-up reports and meetings with the commission over the next
Ethics, ethical values, and social responsibility should all work in unison in a corporate business structure. These key traits are better defined as maintaining overall good business morals, obtaining employees who possess personal ethical values, and finally to behave ethically and with sensitivity toward social, cultural, economic and environmental issues. For a business to better ensure these quality business traits a code of ethics should be adopted by the business. In the cases of Bernie Madoff and Enron, the most well-known financial scandals in history, I feel, gave a major hand in pushing business all across America to have and enforce the code of ethics.
Enron’s ride is quite a phenomenon: from a regional gas pipeline trader to the largest energy trader in the world, and then back down the hill into bankruptcy and disgrace. As a matter of fact, it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets, and 24 days to go bankruptcy. Enron is also one of the most celebrated business ethics cases in the century. There are so many things that went wrong within the organization, from all personal (prescriptive and psychological approaches), managerial (group norms, reward system, etc.), and organizational (world-class culture) perspectives. This paper will focus on the business ethics issues at Enron that were raised from the documentation Enron: The Smartest Guys
The word “fraud” was magnified in the business world around the end of 2001 and the beginning of 2002. No one had seen anything like it. Enron, one of the country’s largest energy companies, went bankrupt and took down with it Arthur Andersen, one of the five largest audit and accounting firms in the world. Enron was followed by other accounting scandals such as WorldCom, Tyco, Freddie Mac, and HealthSouth, yet Enron will always be remembered as one of the worst corporate accounting scandals of all time. Enron’s collapse was brought upon by the greed of its corporate hierarchy and how it preyed upon its faithful stockholders and employees who invested so much of their time and money into the company. Enron seemed to portray that the goal of corporate America was to drive up stock prices and get to the peak of the financial mountain by any means necessary. The “Conspiracy of Fools” is a tale of power, crony capitalism, and company greed that lead Enron down the dark road of corporate America.
1. Describe how you've used media over the last few days in these four areas: cognition, diversion, social utility, and withdrawal. Now describe how the media has helped you during this same period in terms of: surveillance, interpretation, linkage, entertainment, and formulating values.
It is only during moral lapses and corporate scandals that interest groups and the broader public ask themselves the fundamental ethical questions, who are the managers of the organization and were they acting with the ethical guidelines. For a long time, the issue of ethics was largely ignored, with organizations focusing on profit maximization. However, this has changed, and much attention is now focused on ethics management by researchers and leaders. The issue of ethics has arisen at a time when public trust on corporate governance is low, and the legitimacy of leadership is being questioned. Leaders are expected to be the source of moral development and ethical guidance to their employees.
During reconstruction, the meaning of freedom suited many different types of interpretation; the perception of freedom between former slaves and their slaves masters were very contradictory. To begin with, African-Americans had suffered severe abuse over those years of slavery, so to them, the meaning of freedom was basically a hope that in the future, they won’t experience all kind of punishment and exploration that they have been experienced so far. Besides that, formers slaves were demanding equal civil and political rights. In the same way, they valued their freedom by establishing their own schools and churches, reuniting families that were separated under
My interest for the Attorney Advisor position with the United States Patent & Trademark Office (USPTO) arises from my longstanding commitment to constantly improve myself. I have always enjoyed legal research, writing, and the complexities of intellectual property. I have no doubt that my enthusiasm to research, my eagerness to learn, and my strong ability to communicate clearly, work efficiently, accurately, and quickly, will make me an invaluable asset to the USPTO. I believe these traits combined with my unique skillset, developed as a result of experiences working for the Arizona Diamondbacks of Major League Baseball (Diamondbacks), Nike Inc. (Nike), and the Arizona Attorney General’s Office, Liability Management Department (AG Office)
The collapse of Enron and all of the questions that arise to try and explain how this company failed, it all comes back to the values of management. The last option on our training plan will provide training in ethics. Enron executives and employees were caught in the desire to report ever-increasing earnings in order to keep stock prices rising, and to protect their jobs and wealth in their retirement plans (,2002).
The overwhelming facts point to a shady underworld of self-dealing and opportunistic exploitation of the poor and working class, which was until recently, well hidden from the commoner. The executives of WorldCom and Enron provide real world examples of unethical business practices, where the desire to make money for their shareholders transcended into an addiction to greed and self-dealing that were displayed by their, “excessive pay, perks, and golden parachutes”(Carson 392) at the expense of all stakeholders. All is not lost, there are corporations that pride themselves in their sound business model and commitment to ethical business practices. Such companies as Eaton Corporation, and Weyerhaeuser, who according to Ethisphere.com, a business ethics watchdog, are among the “2010 World`s most ethical companies.” (Ethisphere)