Corporate Scandal I. Olympus Updated: April 20‚ 2012 Olympus Corporation‚ founded in 1919‚ is a manufacturer of digital cameras and electronic equipment. Based in Tokyo‚ the multibillion-dollar company has operations worldwide. In mid-October 2011‚ Olympus was rocked by scandal when its former chief executive and president‚ Michael C. Woodford‚ who is British‚ was suddenly fired. The company’s chairman‚ Tsuyoshi Kikukawa‚ blamed a culture clash‚ but Mr. Woodford‚ a 30-year Olympus employee‚
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ENRON Enron shocked the world from being “America’s most innovative company” to America ’s biggest corporate bankruptcy at its time. At its peak‚ Enron was America ’s seventh largest corporation. Enron gave the illusion that it was a steady company with good revenue but that was not the case‚ a large part of Enron’s profits were made of paper. This was made possible by masterfully designed accounting and morally questionable acts by traders and executives. Deep debt and surfacing information about
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Enron‚ what caused the ethical collapse? Q1. What led to the eventual collapse of Enron under Lay and Skilling? A1. There are many reasons‚ which led to the collapse of Enron. With the senior leadership of the company not holding/staying true to the company’s code of ethics‚ not enforcing many laws (which led to the company violating those laws). Therefore‚ the inability of the senior leadership to ensure that there are not only written practices as to how business should be done‚ but actually
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Introduction In a business environment‚ ethics codes are applied with the goal to organize‚ balance and guarantee the same values and culture framework between all the employees in a workplace‚ trying to reduce the impacts of the different combinations of individuals’ background inside a company. This essay aims to demonstrate theory behind business ethics‚ corporate culture‚ and value codes. Also to introduce how this topic becomes more important as an executive become more senior inside the company’s
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Enron Corporation (former NYSE ticker symbol ENE) Enron Corporation (former NYSE ticker symbol ENE) Cierra Gause Abstract This paper will describe the legal environment of business‚ the sources of American law‚ and the basis of authority for government to regulate business‚ differentiate between civil law and criminal law and describe the various classifications of crimes as it relates to Enron and the scandal the caused their downfall by using technology and information resources to research
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The collapse of Enron case study Q1. The key stakeholders involved in‚ or affected by the collapse of Enron are: employees and retirees‚ thousands of them lost their jobs and the investment; the executives: Kenneth Lay‚ Jeffrey Skilling and Andrew Fastow they sold significant blocs of company stock‚ have conflicts of interests; government figures‚ Lay had close personal tie with the Bush family‚ Enron’s efforts influence policy making; regulatory authorities: Commodities Futures Trading Commission
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Ethical versus Unethical Behavior Carlos Mercado University of Phoenix MGT 344 November 17‚ 2007 Ethical versus Unethical Behavior Companies establish ethics policies as a way to identify expectations of workers and to offer guidance on handling common ethical problems that might arise in the course of doing business. For an organization to determine whether a behavior is ethical or unethical‚ the terms must be defined. The term ethical behavior refers to how an organization
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Does Diversity Affects our Corporate Culture (A Report for Worldwide Telecommunications‚ Inc.) COMM/215 June 25‚ 2012 Worldwide Telecommunications‚ Inc. can expect to see a continued increase in workplace diversity over the next few years‚ and should be prepared and equipped for what that means for the company. By workplace diversity we are referring to our organization’s culture‚ how it looks and how it works. What is culture? According to the Merriam-Webster
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Unethical Charity in Missouri On a Saturday morning while running errands usually one might notice a few men collecting money at the corner of any two busy intersections. People give the sticky change that has been laying in their car baking for three months‚ to the organization. Little do they know that the money they worked hard to scrape from the bottom of the ashtray in twenty seconds while at a stoplight is not going where they think. A recent investigation found that a firm run by Missouri
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Israel has been committing crimes in the Middle East‚ and the United States has done little to stop it. Ever since Israel’s founding the United States has supported them‚ that being in times of war and in times of peace. The US was even the first major country to recognize the state of Israel as an Independent country. Israel even has the support of the United States during some of their crimes against the Palestinians. This is because of the US foreign policy against Israel is biased. The United
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