(Lenzner, 2008) When scrutiny revealed that Madoff has for years fabricated these returns as a way to court wealthy investors, his would prove to be both the largest of such scams in history and demonstrative of the ethical void defining today's corporate culture. Indeed, "the shocking revelation that prominent investment manager Bernard Madoff's hedge fund, Ascot Partners, was a giant scam will intensify redemptions from scores of other hedge funds that will be forced to liquidate holdings and increase downward pressure on stock prices." (Lenzner, 2000) This pattern is tied to the perception that behaviors such as those demonstrated by Madoff, and by Fuld and Stewart for that matter, are indicative of corporate culture absent of ethics, an individual disposition of moral ambivalence and an overarching detachment of corporate culture from a healthy or mainstream value system. In correspondence with the primary text by Ferrell et al., this constitutes a negative culture for the persistence of sound corporate and economic dynamism and is no small...
(2008). Prosecutors Subpoena ex-Lehman CEO Richard Fuld. Nachrichten English News. Online at http://www.welt.de/english-news/article2595425/Prosecutors-subpoena-ex-Lehman-CEO-Richard-Fuld.htmlCapitalism does force us sometimes to make decisions in a context narrower than we need in order to make them morally, socially, environmentally (Rolston, 1988, p. 324). Rolston points to several cases of corporate myopia that was changed as customers and potential customers made their views known and demonstrated that hurting customers would harm shareholders as well. He points to the DDT scare in the early 1960s which led to
Ethics HRM Ethics Job Description ABC and Co. has a position open for the following designations. Job Title: Corporate Ethics Officer Reports to: Managing Director Based at: Los Angeles, California Job Purpose: Identifying the key corporate ethics values of the company and devising a code of conduct for the company that incorporates the ethical values in the company's long-term strategic goals so as to take the rights and safety of stakeholders in to consideration. Key Responsibilities: The Corporate
Aside from the previously mentioned policies, the Intel ethic code also contains reference to intellectual property, gratuities, reciprocity, publicity, small and minority suppliers, controlled substances, environment, health and safety. The intellectual property right protection policy states the fact that Intel completely respects the rights of all business partners, suppliers and competitor companies. However, the publicity policy mentions that business partners are denied the right to sell their own products by
Therefore, corporations have had to change their viewpoints and start looking at the long-term consequences of their behavior, as well as looking at the bottom line. Businesses also have to be concerned because consumers have also become aware of environmental concerns, and many consumers are demanding earth-friendly products and have shown a willingness to pay more money to competitors who observe environmentally-friendly practices. Interestingly enough, this demand has given rise
There is nearly a constant influx of new technological developments in this industry as well, which only makes the task of staying current with them all the more challenging. The intent of this paper is to describe how Blizzard would be able to structure a Corporate Social Responsibility (CSR) program that would financially support programming courses for lower income children throughout inner cities and rural areas. The essence of
But the shareholders themselves need to be more aware and more involved in their company's business in order for any meaningful change to sustain itself: Shareholders, the intended beneficiaries of the corporate vehicle, are the ultimate capitalists: avaricious accumulators with little fiscal risk and no legal responsibility for the way in which they pursue their imperative to accumulate. Shareholders, not corporations, show indifference to the needs and values of society. It
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