Mission Statement and brief background about WorldCom. Briefly explain how WorldCom did not honor their statement. WorldCom - "our objective is to be the most profitable ‚ single source provider of communications services to customers around the world. Unstated Mission - Increase shareholder value." WorldCom’s mission statement neatly encapsulated aspirations and strategies to be the leading facilities-based provider of end-to-end Telecommunications and Internet services to business customers
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securities fraud‚ however they defended themselves to say that they were forced to cover things up by other top officials. As reading through the questions given in class it was hard to completely gather all thoughts into one area. We know that World Com is a for profit organization that provided telecommunications to
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September 6‚ 2014 Shannon Troutman Discussion 2.1: American Greed: Inside the WorldCom Scam Title: Pointing the Finger Question: The corporate scandal involving WorldCom regrettably illustrates improper cost transfers designed to achieve higher profit levels. WorldCom did not transfer the cost from leases from the balance sheet to the income statement as quickly as they should have. This had the effect of overstating assets on the balance sheet and net income on the income statement. Please watch
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corporate strategic planners across the world. What is the impact of globalization and the internet on the corporate world? Explain the important role of strategic planning in today’s competitive business world in light of these two forces. The internet and globalization has had a great impact on the corporate world. Corporations can now move across borders much easier. The internet and globalization has made it possible to be able to move funds across the world very quickly. Corporations
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06 – Whistleblower‚ Product Safety vs. Animal Rights Whistleblower 70-85 * Whistleblowing is a new label generated by awareness of ethical conflicts encountered at work. They sound an alarm in the organization that threatens public interest * Whistleblowing has high stakes * Moral conflicts on several levels whether to speak out about abuses or risks or serious neglect * Things to consider? - ARGUMENTS * Is speaking out in fact in the public interest * Does speaking
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something like this go on and not do anything about it. Do you think that whistle blowing laws really protect people? Why or why not? In this case I feel that the whistle blowing laws protected the men; “The complaints were brought under a whistleblower provision in the U.S. False Claims Act‚ which allows private individuals with knowledge of wrongdoing to bring suits on behalf of the government and share in the proceeds of any settlement.” I feel as though this protected them because they received
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Case Studies: 4.1 & 5.2 Labor/Management Relations June 15‚ 2013 The labor and management sides both have a great deal of power regarding workplace rules and conditions. The management side has the power to choose the labor relations strategy that it thinks will best suit its needs. The strategies chosen are determined by several things like “managerial philosophy‚ [or] the ethics of its management” (Holley et al‚ 2008‚ pg 119). It seems as though today most large organizations prefer
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WorldCom: internal audit lessons to be learnt On June 9 2003‚ the U.S. Bankruptcy Court of New York issued a report on the WorldCom accounting fraud that expands on the court’s earlier findings of mismanagement‚ lack of corporate governance‚ and concern regarding the integrity of the company’s accounting and financial reporting functions. Supervised by former U.S. Attorney General Richard Thornburgh‚ the study was commissioned by the court to investigate allegations including fraud‚ mismanagement
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such a scenario‚ it becomes all the more imperative to prevent violations itself from becoming norms‚ to protect public interest from huge corporate scandals. In an attempt to safeguard the corporations and the economy on the whole‚ a robust whistleblower policy as part of the corporate governance strategy is a very valuable tool. It empowers employees to act on incidences of misconduct and help maintain a safe workplace‚ while protecting profits and reputation.
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There were several situations that lead the executives and managers of WorldCom to "cook the books." Acquisition of other companies drove WorldCom to spend beyond their means; managers were told to spend whatever was necessary to increase revenue‚ even if it meant that long-term costs would outweigh the short-term gains. This fiscally unhealthy mentality led to a very bad decision to enter into long-term fixed rate leases for network capacity with extensive punitive termination provisions. Once the
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