Ethics Lowes
The (In)Formality of Ethics in a Private Organization: A Case Study Lowes Foods Including Recommendations
The recent economic downturn that the world's economies underwent has lead to a period of major reexamination and reconsideration of certain trends in the word of business and finance. The ethical decisions that business organizations must contend with on a daily basis clearly have major ramifications for many partners in its industry and even potentially in the global economy at large depending on the size and positioning of the organization in question. Enough poor ethical decisions can, when added together and mixed with the right conditions can lead to major practical problems in business in addition to being generally reprehensible and directly ruinous to individual consumers and business partners.
Most companies, of course, are not actually of a size to cause complete industry-or economy-wide upheaval due even to their complete failure. That is, most companies are not like Lehman Brothers and will not cause a credit tightening and lack of trust the way the failure of this banking institution -- or the scandals at companies like Enron and Tyco -- did, no matter how large or egregious its ethical violations might be. Regardless, it is important for all business organizations of any size and in all industries to conduct themselves with a high degree of attention to ethical behavior and standards to ensure not only their long-term viability but also a truly positive impact on the industries and communities with which they interact and in which they maintain their day-to-day and ongoing operations.
This paper will examine the method of dealing with ethical issues at one medium-sized organization currently undergoing a major growth spurt. After an analysis of this company's current ethical planning and decision making procedures, a plan for improving its manner of conducting itself in an ethical style so as to improve the efficiency and the efficacy of the organization's ethical processes. Following this, a projected assessment of the...
The first trial for the two began on September 29th, 2003. The trial was not concluded as one of the jurors had complained of been pressurized to convict the two former executives. The retrial was conducted, and the jury reached its verdict on June 17th, 2005. They were both acquitted for one count and convicted for 22 criminal counts. They were not found guilty of falsifying business documents. Both of
This was designed to limit the total amounts of insider selling for tax purposes. As time went by, Swartz used this program to give all employees loans for any reason. This helped Kozlowski and other executives to receive large loans from this program (that were forgiven in the future). ("Tyco," n.d., pp. 389 -- 402) (Farrell, 2011, pp. 442 -- 446) The Impact of Auditors Price Waterhouse Coopers was the auditor
Tyco International is a worldwide manufacturing company that is involved in production of various products since its inception in the 1960s. The company is currently divided into five main business segments which are Safety Products, ADT Worldwide, Flow Control, Fire Protection Services as well as Electrical and Metal Products. Furthermore, the company recently split its corporate sections into three independent companies i.e. Tyco Healthcare, Tyco International Ltd. And Tyco Electronics
" (Cummins, 2006). The VP for Corporate Governance, Pillmore announced a series of ethical principles, to prevent such scandals. The first principle "calls for strong leaders who see themselves as stewards of the company and mentors for its future leaders." (Cummins, 2006). The second principle is to establish a "web of accountability," where corporate leaders are constantly questioned about ethics-based decisions. (Cummins, 2006). The third principle is to investigate actual
First of all, they should implement a better control of the executives' actions by limiting their rights and access to corporate funds. No major decision regarding future mergers, acquisitions or investments should be taken by a single executive. All significant activities and fund usage should be approved by the Tyco board during general meetings. The number of these meetings should be of at least one or two per week. The
The UETA gives legal recognition to electronic records, electronic signatures, and electronic contracts. The UETA provides that a contract cannot be denied enforceability solely because it is in electronic form, or because an electronic form was used in its formation. If the law requires a written record, an electronic record satisfies the law. Furthermore, an electronic signature satisfies legal requirements for a signature. An electronic record or electronic signature is
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