1. The Enron debacle created what one public official reported was a “crisis of confidence” on the part of the public in the accounting profession. List the parties who you believe are most responsible for that crisis. Briefly justify each of your choices. a. Kenneth Lay‚ Jeffrey Skilling‚ and Andrew Fastow. A common theme of the allegations leveled at the three executives was that they had created a corporate culture that fostered‚ if not encouraged‚ “rule breaking”. b. Andersen
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1. Why are Socrates‚ Plato‚ and Aristotle usually considered to be the founders of Western philosophical ethics? * Because it was their determination to base ethics on reason‚ rather than on superstition or authority‚ laid the foundation upon which virtually all philosophers who followed would base their ideas and theories about morality. 2. Why do many people consider Socrates to be a martyr for truth and integrity? * Socrates is considered by many to be a martyr for truth and integrity
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Reaction Paper on Enron Case September 9‚ 2013 Summary: Enron’s origins date back to 1985 when it began life as an interstate pipeline company through the merger of Houston Natural Gas and Omaha-based InterNorth. Kenneth Lay‚ the former chief executive officer of Houston Natural Gas‚ became CEO‚ and the next year won the post of chairman. From the pipeline sector‚ Enron began moving into new fields. In 1999‚ the company launched its broadband services unit and Enron Online‚ the company’s website
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Title: Application of ethical principles; utilitarian‚ moral rights and Justice Models to an Australian case study As demand and competition increases‚ companies have reduced their cost and increased their profits by turning to countries with less expensive labor. Roberts (2013) revealed that workers at the Indonesian Nike factory are being forced to work for less than minimum wage and being threatened through the hiring of military personal. Harrison (2010) when obtaining goods it is important
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Ethics ETH/316 Ethics In today’s world‚ ethics is a very big issue that involves many different views and beliefs. Ethics has become more prevalent with the general public in today’s business world. When it comes to ethics‚ there are three main theories. The first is the virtue theory which is all based around virtue ethics. This is sometimes simplified into being character based ethics. It states that “to be an effective person in the world one must adopt various characteristics and
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CASE 1.1 Enron Corporation “Think Straight‚ Talk Straight. “ This was the motto of Arthur Edward Andersen. He was the founder of the Arthur & Company‚ which was established to provide accounting‚ auditing and related services. Throughout his professional‚ Arthur E. Andersen career‚ relied on a simple‚ four-word motto to serve as a guiding principle in making important personal and professional decisions: “Think straight‚ Talk straight.” Andersen would prefer fewer clients‚ than having more
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When Jeff Skilling took the major energy company Enron over‚ he contributed to the hiring and development of an entire corporation with a crooked staff whom were corrupt all the way from the bottom employees to the top executives. Top executives “cooked the books” through a certain structured finance including accounting ambiguities‚ special purpose entities‚ and poor financial reporting. They were able to hide billions of dollars in debt from failed deals and projects. CFO‚ Andrew Fastow and other
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a. After having studied several other approaches to ethics in addition to Virtue Ethics‚ what do you think the main arguments against this statement are? A Virtue ethics is an approach to ethics that emphasizes the character of the moral agent‚ rather than rules or consequences‚ as the key element of ethical thinking. Not the same as Utilitarianism or Kat i.e. It is not so much a guide for moral decision making‚ more a description of the moral life. I think the main arguments against this statement
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South African Investment and Utilitarian Principles “Utilitarianism is a general term for any view that holds that actions and policies should be evaluated on the basis of the benefits and costs they will impose on society” (Velasquez‚ 2010‚ p. 59). The Ford Pinto example (Velasquez‚ 2010‚ pp. 60-61) calculated utilitarian benefits as a straight-line computation based upon monetary values which were placed on costs and benefits and making a decision based upon where the scale showed the
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had a few theories of ethics. Aristotle believed that one attains happiness by living a virtuous life and through the development of reason and the faculty of theoretical wisdom. He believed that moral virtue is a relative mean between extremes of excess and deficiency and in general the moral life is one of moderation in all things except virtue. He believed that virtuous acts require conscious choice and moral purpose or motivation. Finally‚ he believed that moral virtue cannot be achieved abstractly
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