A business cannot claim to be ethical firm if it ignores unethical practices by its suppliers – e.g. * Use of child labour and forced labour * Production in sweatshops * Violation of the basic rights of workers * Ignoring health‚ safety and environmental standards An ethical business has to be concerned with the behaviour of all businesses that operate in the supply chain – i.e. * Suppliers * Contractors * Distributors * Sales agents The two articles below
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The Enron and World Com Scandals Enron 1. The board directors failed their fiduciary obligation to protect their shareholders‚ employees‚ and business partners by allowing high risk accounting‚ inappropriate conflict of interest‚ expenses undisclosed off the books activity‚ excessive compensation‚ and lack of independence between the company‚ and board members. I feel the segment that got Enron into trouble was the Executive and finance committee (Brooks). 3. I do believe that they
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this essay would discuss on whether ethics is required or optional on business. On this essay it will analyse four ethics theory‚ namely Milton Friedman‚ R. Edward Freeman‚ Albert Carr and Carroll. Milton Friedman and Albert Carr illustrate that ethics is required whereas Edward Freeman and Carroll state ethics is optional. After analysing these theories‚ it is difficult to find out that whether ethics is optional or required. However choosing on whether ethics is optional or required would depend
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Enron and How it Affected the Accounting Industry Enron once was one the United States largest energy company and was ranked Fortune’s seventh richest corporation in the United States. When Enron had a filed for Chapter 11 bankruptcy in 2001 it unraveled to be one the biggest accounting scandals in United States history. There are many factors that contributed to Enron’s demise but their aggressive and unethical accounting practices were the key component. As a result‚ the accounting industry
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Building a just‚ stable‚ harmonious world for the future generations should be the central organising principle for civilisation. Our ideas about nature have varied through the whole history of environmentalism. This unit reviews the environmental ethics‚ our views and beliefs about nature and environment‚ issue of environmental equity dealing with the environmental crisis‚ environmental justice and its principles‚ racial discrimination at the policy and public level in managing the environment‚ and
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Fiduciary Responsibility Shana Bates City University of Seattle Business Ethics Amy Thiele June 20‚ 2014 Introduction This paper discusses in detail the issue of fiduciary responsibility. A fiduciary relationship describes an association in which an individual is vested with the obligation of caring for another person’s rights or property. The fiduciary relationship is supposed to be a very special and confidential association where the fiduciary must be honor-bound to legally accomplish
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UVA-F-1299 Rev. Feb. 8‚ 2011 This document is authorized for use only by Mattia Tenaglia at Tecnologico de Monterrey. Please do not copy or redistribute. Contact permissions@dardenbusinesspublishing.com for questions or additional permissions. ENRON CORPORATION’S WEATHER DERIVATIVES (A) Everybody talks about the weather‚ but nobody does anything about it.1 In October 2000‚ Mary Watts‚ the chief financial officer of Pacific Northwest Electric (PNW)‚ a utility servicing the Pacific Northwest
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(the conservation of matter/energy)‚ we recognize that neither matter nor energy can truly be "created‚" it can only be transferred from one form to another. | Question 3 | | 0.5 / 0.5 points | Identify the responsibility which holds that a business should be responsible for incorporating the end results of its products back into the productive cycle. Question options: | Backcasting | | Cradle-to-cradle | | Take-make-waste | | Cradle-to-grave | Hide Feedback | | |
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1 BUSINESS ETHICS :: Introduction to Ethics • • • • • • Course format Overview of topics Mode of assessment Background to Ethics History of Business Ethics Role of Business Ethics Today Course Aims and Objectives The aim of this course is to give a basic understanding of the major theories of ethics - including deontology‚ utilitarianism and virtue theory - and their application in the relevant fields of business and information technology. One of the main course objectives is to encourage
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Unit 45: Business Ethics LO 1 – Understand different ethical perspectives in business Introduction – 1.1 Explain the background of theoretical ethical approaches and development of theoretical ethical approaches. Ethical perspectives: Deontological and teleological ethical theory; a. Define Deontology ethical theory Give example of deontology by stating a Philosophical experiences or case laws b. Define Teleology ethical theory‚ Give example of teleology by stating a Philosophical experiences
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