Ethics in Finance Case Study Essay - 1153 Words

Bradley Miller 2/12/15 Seminar of Finance Case Study Ethics in Finance 1. Have I defined the problem correctly and accurately? Answer: The problem was that the WorldCom Company was falling farther and farther into debt and they needed a way out of this hard time. The CEO came to us with a plan to turn the company or in reality to make it look as if the company was headed into the right direction, when in fact it was not. The plan was to use other accounts that have holding money in them for other various projects to make the revenue look as though it was high and still climbing. 2. If I stood on the other side of the problem, how would I define it? Answer: I would define the situation as what it is, fraud. This company was at one†¦show more content†¦I also have to look at the consequences of my actions when dealing with financials for a big company that only wants to see revenue increases. Do I go with it or try and swing the minds of the beholder. 5. What is my intention in making this decision? Answer: My intention for making the decision to keep my mouth closed was to keep my good paying job and to make the company seem as if it was healthy and that it is steadily making its yearly revenue even if it is the wrong thing to do. I knew my decision was wrong but I still went through with it because my CEO told me to do so and that no one would ever find out that I was one of the managers that aided in the fraud. 6. How do the likely results compare with my intention? Answer: The results were that someone found out about the fraud that I and the company had filed, correlate with one another. I knew from past companies that had tried this fraud got caught and I just looked the other way because I was still getting paid and at the time money was the root of all evil. My intention was to make the company look rich so that investors would buy into the stock of the company and I did so until the SEC looked into the books and saw the transfers we made from various accounts to keep revenues up. 7. Can my decision injure anyone? How? Answer: My decision can injure people or families mentally and physical ways as well. Mentally people can be hurt because the money they invested might have been their life savingsShow MoreRelatedEthics Of The Financial World1056 Words   |  5 PagesAshanti Bennett Evonne Whaley BUS-101 27 September 2014 Ethics in the Financial World My form of business includes finances, mainly accounting and auditing. As I progress towards my accounting degree, I found out that there are many issues that I have to deal with in regards to the business itself. Eventually, finances also have to go through ethical issues. The ethics of financial business is determined mostly by the numbers, but it also recognizes the business environment, as well. As I realizedRead MoreEthical Theories920 Words   |  4 Pagesused to justify Anglo-American’s Obligation to the ethical issue in Chilean Mines 2.1 Virtue Ethics: In virtue ethical theory, an individual is judged by his character rather than by his actions that may deviate from his normal behavior (Fraedrich, Ferrel and Ferrel, 2009). In Chile’s case, application of virtue ethics justifies the following mishaps: Fairness: With Research gathered from the case study, contract workers are assigned much more dangerous tasks with great risks of injury towards theirRead MoreGuillermo Furniture Store Analyis677 Words   |  3 PagesGuillermo Furniture Store Case Study The aim of this paper is to examine the Guillermo Furniture case study. It begins with a description of the store, the current market challenges it faces, and the options that its owner, Guillermo Navallez, has in meeting those challenges. It then explores these options in the context of the business’ budget, performance reports and accounting information, as well as from an ethical perspective. Located in Sonora, Mexico, Guillermo Furniture has historicallyRead MoreLegal And Regulatory Environments And Ethics1712 Words   |  7 Pages1. Title: legal and Regulatory Environments and Ethics: Essential Components of a Fraud and Forensic Accounting Curriculum Forensic accounting is defined as the action of identifying, recording, settling, extracting, sorting, reporting, and verifying past financial data or other accounting activities for settling current or prospective legal disputes or using such past financial data for projecting future financial data to settle legal disputes. Forensic accountant are very important part of theRead MoreWhat Accounting And Finance Is And Why It Has An Important Aspect Of Any Business1364 Words   |  6 PagesINTRODUCTION This report focuses primarily on the understanding of what Accounting and Finance is and why it has, and will continue to be, an important aspect of any business - further exploring its subsequent relevance in guiding those who work in these areas. WHAT IS ACCOUNTING? Accounting, a practice which goes back many millennia, arises from the concept which Britton and Waterston (2005, p. 03) believe came about when managers (known then as stewards) had to â€Å"account for their stewardship ofRead MoreWhat Must Be Done to Improve Ethics in Finance and Corporate Governance?1211 Words   |  5 PagesU10A2- Essay Louise Pettiford What must be done to improve ethics in finance and corporate governance? Corporate governance can be referred to the rules, processes, or laws by which businesses are operated, regulated and controlled. It can also refer to internal factors defined by the officers, stockholders or constitution of a corporation. After finding the meaning of Corporate governance, which can also be referred to corporate responsibility, I thought about the policies in which the companyRead MoreImportance of Business Ethics988 Words   |  4 Pages................................1 Business Ethics.......................................................................................................................2 Disadvantages of Unethical Behavior....................................................................................2 Case Study..............................................................................................................................3 Analysis of Case Study.............................................Read MoreStatement of Purpose for a Career in Computational Finance1041 Words   |  4 PagesThe world of Finance is by no means a new concept for me. Watching â€Å"Mad money with Jim Cramer† videos on cnbc.com for his daily stock picks is a ritual. I would study the company’s business model, perform very rudimentary fundamental and qualitative analysis on these picks and if its intrinsic value matched the criteria set, I would add it to my portfolio on Investopedia.com. Apart from this, I also spent a considerable amount of time researching on various stock picking strategies to further strengthenRead MoreAnalysis Of Morgan Security Audit Pricewaterhouse Cooper1095 Words   |  5 PagesJ.P.Morgan security audit Pricewaterhouse Cooper INTRO According to Institute of Global Ethics â€Å"Ethics in its broader sense, deals with human conduct in relation to what is morally good and bad, right and wrong. It is the application of values to decision making. These values include honesty, fairness, responsibility, respect and compassion† (He 2017) therefore they are principles of right conduct. Unlike morals which are the principles of right/improper conduct depends person to person. BODY Read MoreEssay on ETH501 Adelphia Case1512 Words   |  7 Pages For this case study we are asked to draw upon deontological ethics, and discuss how Adelphia Communications’ executives violated the trust of the company’s shareholders and the trust of that of the larger public. To do this we first need to take a look at deontological ethics and how the philosophy of deontological ethics affects the choices that were made in the Adelphia Communications’ case. We will also look at the Adelphia case and examine how its executives violated

The Suicide Of The Marine Corps - 951 Words

Senior enlisted leaders are ask to come up with solutions to stop suicide in the Marine Corps. I am going to talk about three topics that I feel important to stop suicide; (1) All hands responsibility, (2) Spiritual guidance, (3) Mental ship awareness program. Suicide is all hands responsibility because Marines are one family that strive to do their best for the best interest of the institution. Marines care for one another and the moment someone commit suicide in the Marine Corps, it has a great impact on our emotional state of mind, mission readiness, and how to deal with suicide while still fresh in our environment. This is important to talk about it vice walking away and let the time cure the unanswered question. After a Marine commit suicide I find it a critical point to educate the force on why taking your life is not the solution, why any suicide is a death that touches someone (Kelly, 2015). Educating Marines that there is a solution to any problem and giving the solutions via resources within the Battalion is important because at least there is chance within reach with someone that you see every day. Consequently, I will integrate professional health counselors at the Battalion level at least, I will recommend they conduct not only assistance to those who need it but also frequent surveys in order to zero down on causes before the individual takes his or her own life as we all still trying to find out the why such name Marine committed suicide. RelationshipShow MoreRelatedThe Suicide Of The Marine Corps935 Words   |  4 PagesSenior enlisted leaders were asked to come up with solutions to stop suicide in the Marine Corps. I am going to talk about three topics that I feel are the best solutions to suicide; (1) All hands responsibility, (2) Spiritual guidance, (3) Mental ship awareness program. Suicide is all hands responsibility because Marines are one family that strive to do their best for the best interest of the institution. Marines care for one another and the moment someone takes their life, it has a great impactRead MoreThe Real Insurgency: Suicide Rates in the Military R anks Essay1201 Words   |  5 PagesSuicide in the United States is the 11th leading cause of death, with over 32,000 killing themselves per year. While some causes or explanations for suicide will never be known, depression or other diagnosable mental or substance abuse disorders top the list of more than 90 percent of why lives are torn from us. Over the last couple years around the military there has been much debate on whether this rate has been drastically affected by the increased military footprint from fighting two wars.Read MoreThe Non Commissioned Officer (NCO); the backbone of the Marine Corps. The driving force behind1000 Words   |  4 Pagesbackbone of the Marine Corps. The driving force behind the battle of Belleau Wood, the battle of Hue City, the fight for Fallujiah, the taking of Marjah and, most recently, the battle against suicide and sexual harassment. No other group of men and women in the world have been called to fight across such a broad area of operat ion. As we look at the ever-adapting role of the NCO, we must first look to the past. One of the foremost examples that comes to mind is John Basilone. To Marines, Basilone needsRead MoreWhy Is Rite Of Passage And Varieties Of Human Beings And Their Societies From A Personal Perspective?1219 Words   |  5 Pagesexamine the extreme following of suicide terrorists in the Middle East region, their methods of recruiting and motivations that drive them to execute these evil orders. I will compare the terrorist extremist with the traditional man or women living in the Middle East region. Although both are similar in ways, I will show you how vastly different their cultures are from one another. Part 1 In this segment, I will examine rites of passage in the United States Marine Corps from an etic perspective. OurRead MoreThe First Day Of September 19391608 Words   |  7 PagesThe Allies’ victories in World War II came from the sacrifices made by the US Marines in order to win many battles. However, in order to make these sacrifices for the prosperity of the Allied forces and their struggle against Adolf Hitler’s National Socialist Party and his own allies, Japan, Italy, and the USSR, one must go through intense preparation and learn what it means to be a US Marine. In order to become a Marine, one requires a certain number of weeks of training. Over the course of the warRead MoreUnited States Military Values Dictate How We Live Our Lives1144 Words   |  5 PagesMARINES UNITED OR †¦ DIVIDED? USAACE NCOA SSG Kathryn G Rylander 15ZSLC 17-003 SFC Maradol Basic United States Military values dictate how we live our lives. There is no line drawn between the Marine Corps and the Army or the Navy and the Air Force. We all live and breathe by these values. The United States of America’s fighting force is supposed to stick together. There is rivalry but also comraderie. When there is a scandal within our fightingRead MoreDirect Fire Assets Helped Impacted The Battle Of Okinawa1465 Words   |  6 Pagestroubles, and endeavors. This battle lead to the progression of our artillery. It educated the military showing it is difficult to shoot, move, and communicate effectively when moving with the fast pace of a battle. Throughout the 82 day battle they used marine air, artillery, mortars, and naval gunfire. Artillery provided fires delaying, disrupting, and destroying the enemy proving who the true king of battle is. The battle for Okinawa begin on 01Apr1945 and went until 22Jun1945. The capture of OkinawaRead MoreCompany Analysis And Evaluation Of United States Marine Corps2231 Words   |  9 PagesEvaluation of United States Marine Corps Headquarters Marine and Families Division (MF) Behavioral Health (BH) Programs Shariha Garrett Liberty University Company Analysis and Evaluation of United States Marine Corps Headquarters Marine and Families Division (MF), Behavioral Health (BH) Programs The intentions of this paper is to paint an overall picture of Behavioral Health Programs as an organization and those factors that are essential to the United States Marine Corps to achieving successfulRead MoreThe Battle Of Battle For Okinawa1476 Words   |  6 PagesThis battle leads to the progression of our artillery. It educated the military and artillery showing it is difficult to shoot, move, and communicate effectively when moving with the fast pace of a battle. Throughout the 82 day battle, they used marine air, artillery, mortars, and naval gunfire. Artillery provided fires delaying, disrupting, and destroying the enemy, proving who the true king of battle is. The battle for Okinawa begin on 01Apr1945 and went until 22Jun1945. The capture of OkinawaRead MoreRecounting the Story of The Battle of Iwo Jima Essay example1112 Words   |  5 Pagesdepictions of The Battle of Iwo Jima from the standpoint of Veterans and military historians. All of which are vivid interpretations of how monumental this battle was for the Marine Corp and 1944 American moral. The Battle of Iwo Jima was the single most contested piece of land that the Marine Corp had ever fought. In fact, the Marines lost more soldiers in this battle than any other battle they had fought, in their 238-year history. It was tough terrain with an enemy instructed to, â€Å"Kill 10 Americans

The Ethical Standards Of Corporate Social Responsibility

Introduction In 2013, the American Insurance Company AIG, American International Group was ranked the worst company in corporate social responsibility for the fifth consecutive year (Orwell, 2014). Known for its exorbitant executive salaries, â€Å"golden parachutes†, and lavish management perks during the infamous financial bailouts of 2009, AIG still struggles to regain consumer confidence (Orwell, 2014). Multiple corporations grapple with how to meet the ethical standards of corporate social responsibility in today’s global economy. Becoming a triple bottom line company would help a business meet its ethical obligations and demonstrate its sustainability progress to stakeholders. Employing utilitarian theory of ethics to exam triple bottom†¦show more content†¦The legal responsibility of an organization is to abide by all laws and regulations. The expectation is for the business to follow and obey not only the explicit version of the law but its intended pur pose. The corporation’s ethical responsibility is to conduct business and act in accordance with ethical and moral values even when not required by law. The philanthropic responsibility refers to an organization’s obligation to contribute to the betterment of society through its â€Å"generosity towards the community† where it resides (Metivier Matteson, 2015). Triple Bottom Line The triple bottom line (TBL) is a theory of corporate social responsibility and accounting framework that focuses on a corporation’s long-term sustainability in three different areas. It proposes that the ultimate success of a corporation depends not only on how well it performs financial but also socially and environmentally (Norman MacDonald, 2004). The TBL concept requires the performance in each area of sustainability be measured independently (Metivier Matteson, 2015). The triple bottom line has been commonly referred to as the three Ps for profits, people, and planet (Slaper Hall, 2011). Similarly to CSR, the economic sustainability measure of TBL evaluates the profitability of a business. Measured primarily in dollars, the economic sustainability assesses the variables related to the bottom line (Slaper Hall, 2011). The social

Motivation and Empowerment - Cirque du Soleils Case †Free Sample

Question: Discuss about theMotivation and Empowerment in Relation to Cirque du Soleils Case. Answer: Introduction Competition in the business environment has greatly increased as a result of globalization. Organizations are now looking into other ways of remaining profitable in these difficult times. Many of them have however failed to recognize the human capital as the most important asset in the profitability and effectiveness of any company, if wisely managed. An organization can only attain success if the employees are motivated and satisfied with their work. Employees are different and have different needs. It is therefore the managements responsibility to understand the needs of the employees and identify what motivates them. Recent years have however seen an increase in the focus on employees welfare. Companies are now striving to hire and retain the best employees in the industries. Importance of employees to the success of businesses is being realized. Actions aimed at achieving maximum input from employees are being undertaken. Some include employee enrichment, fulfillment, empowerment and motivation. Management functions have also been transformed to be more of employee oriented than customer focused. One of these management functions that has greatly transformed is leading. This paper seeks to analyze the topic of human capital in relation to the Cirque du Soleils case. It discusses leading in the changing business environment, employee management, motivation and empowerment. Leading in a Rapidly Changing Environment. Leading is one of the four management functions responsible for the success of organizations others being planning, organizing and controlling. It is defined as the process of guiding and motivating individuals towards the realization of the organizational goals. The changing business world has brought with it new challenges in leadership. Globalization of the workforce is one such challenge. Organizations now find themselves working with employees from different cultures. In Cirque du Soleils case, Crawford says that there was a big cultural difference with the Chinese troupe that was the main acrobatic team in Dralion(Delong V i jayaraghavan, 2002). Leaders must therefore take into consideration the special needs of such groups. Leadership styles vary among individuals and organizations from autocratic, Laissez-faire to democratic. Leading has a number of responsibilities which include motivation of the workforce, inspiring the employees to achieve the set goals and modeling standard behavior. There are various important keys to leading individuals in this changing business world. Training As much as emphasis is usually placed on skills during the hiring process, employees still need to be trained. With the changing world there is every possibility that skills acquired in the past may not be the best presently. Hired employees receive training from different places. This can lead to disparity in ways of doing things. To attain uniformity there is need for the company to retrain its employees. Munoz says that although the clowns had been trained in different places, they now share a common knowledge as a result of being trained by the master clown from New York. Training is also important in multifunctional units whereby experts in one field might need to receive some training experience in another field they interact with regularly (Andish, Yousefipour, Shahsavaripour, Ghorbanipour, Noorfelri, 2013). In addition to receiving training in six new languages, Munoz says they also have amazing experience of working with other artists like acrobats. Leading by example Managers should always serve as the perfect role models for their employees. This is because employees tend to emulate the determination of their leaders. Managers must have sound principles that they are ready to stand for and defend. DAmico states that Guy can never compromise on the creative side. This shows that he has a stand that he is willing to defend. Hiring and retaining skilled and experienced employees It is important to hire and retain people with the required skills (Gaines Wilson, 2005). This reduces, but does not eliminate, training needs. People with the right skills also integrate easily into the system without any conflicts with the existing employees. Cantin says that it had been a challenging experience trying to find the right artists. This is because they had to travel to more than 20 countries and hold auditions to find the perfect fit for both the current and future productions. Cirque also hired employees with some experience like Oberacker who had come from union serving artists on Broadway. Caring about employees welfare Leaders should take time to listen to employees in order to find out how they are doing and take their opinions on issues. They must show that they care about their input and that they are concerned with their wellbeing and not just profits. Actions that are directed towards employee wellbeing should be taken. For instance Dumont says that they provide a shuttle to transport people to work and the food is also amazing. All these show employees that management care for them and they will reciprocate by caring about work. Crawford also says that on tours, directors would normally come down from Montreal to ensure proper running of the shows. Creating goals and communicating the vision. Leaders should create organizational goals that employees are expected to work towards achieving. The goals and vision of the company should be properly communicated to the employees to ensure that they understand them. By doing this the managers are giving some direction to the organization. Individual Employee Management. Every member of an organization is different therefore it is important to appreciate and understand other peoples ways of behaving. Managers need to understand these individual differences because they affect job satisfaction, job performance and behaviors (George Jones, 2008). Effective individual management ensures a culture where all employees, regardless of culture, race or any other protected characteristic, feel the organization values their contribution. This will lead to the achievement of organizational goals (Imperial College, 2011). This can be achieved by: Evaluating and understanding each employees needs. Each employee has different needs when coming into the organization. Ranging from career enhancement to economic needs, management should understand these needs in order to support every individual accordingly. In the case of Cirque for instance, some artist needed more guidance because they joined for career enhancement while others came in as already established artists. Cantin says they try to evaluate the needs of each artist to assist them with the support they may need. Train and encourage employees to work in a multicultural environment Other employees should also learn to coexist with colleagues of different cultures. It is the managements responsibility to ensure that this happens. This can be achieved by holding bonding sessions between employees and offering language trainings. Cirque is enabling communication among employees from all over the world by providing training in six languages. Gagnon says that they hold lots of parties. These parties are an important way of encouraging interaction among employees of different cultures and background. Respecting and understanding each employees background Its important to respect each others cultural or career background. This will help in avoiding bias. It is also important in knowing the special needs that they may require. Cantin had to understand the background of the Chinese in order to avoid any prejudgment and biasness. They also tried not to isolate some cast from certain African villages. Empowerment and Motivation of Employees. Motivation and empowerment are ways of increasing employee productivity. They are important in ensuring optimal use of the human capital(GanjiNia, Gilaninia, Sharami, 2013). Empowerment It is the process of increasing an employees capabilities in influencing and dealing with certain issues that affect them within the organization (Awamleh, 2013). Empowerment is important to organizations in many ways. For example it motivates employees, increase participation, increase job satisfaction, effective teamwork, improves productivity and reduces turnover (Gardner, Wright, Moynihan, 2011). The following are the ways of empowering employees: Involving people in making decisions that involve them (Elnaga Imran, 2014). It is advisable for management to seek opinions of the employees concerned before a decision is made. When Cirque employees felt the shows were turning out to be for only the privileged, they proposed Cirque Lite to cater for others too. Trusting and having confidence in the employees. Managers should have confidence in the abilities of the employees and be ready to delegate duties to them where necessary. Employee motivation Motivation is a feeling that gives someone a strong intention to accomplish a work related task. Motivated employees have some inner drive to achieve something and they usually act in a positive way (Dobre, 2013). Various theories regarding motivation have been put forward by different scholars. They include the Maslows Hierarchy of needs, Herzbergs Motivation-Hygiene theory, the McClellands acquired needs theory and Clayton Alderfers ERG theory. These theories discuss several ways of motivating employees which include: Training and development. Training and development seeks to improve on skills and knowledge of employees with a view of improving the general performance (Gupta Subramanian, 2014). Cirque offered training to its employees like the training they received from the New York clown. Job promotions. It is a way of offering employees more responsibilities and authority for advancement of their careers. Promotions also increases an employees pay due to the increased responsibilities. Alison Crawford, who used to be an assistant to the choreographer, was promoted to be the artistic director for Dralion upon return from Chile. She was excited because it was great, with good pay and challenging. Salary increase. Good pay can have a massive influence in employees productivity (Omar, Jusoff, Hussin, 2010). In the past Cirque was paying lower salaries to its employees compared to other companies but has now readjusted the scale. Salaries were also increasing with the growth of the company. Working environment. Improved working conditions and unique facilities motivate employees. Employees were proud of the Studio in Montreal for its location next to North Americas second largest landfill. It also had special features among them a cafeteria crucial for employees welfare. Conclusion Human capital is an important aspect of any organization and Human Resources teams should device proper ways of full utilization. Employees with the right skills should be hired. Employees should also be allowed more room to develop. Training has been identified as central to employee development and Cirque du Soleil is doing well in it. Refresher courses should be offered regularly. Motivated and empowered employees perform their work effectively. The various methods discussed and many others not discussed are essential in achieving them. Of importance, management needs to show proper leadership skills. They need to exercise authority on issues affecting the organization. References. Andish, H. A., Yousefipour, M., Shahsavaripour, H., Ghorbanipour, A., Noorfelri, M. (2013). Concepts and Strategies of staff Empowerment. Singaporean Journal of Business Economics and Management Studies, 1(11), 106-110. Awamleh, N. A. (2013, June 15). Enhancing Employees Performance via Empowerment: A Field Survey. Asian Journal of Business Management, 5(3). Retrieved September 7, 2016 Delong, T. J., V i jayaraghavan, V. (2002, October 15). Cirque du Soleil. Boston: Harvard Business School. Dobre, O. I. (2013). Employee motivation and organizational performance. Review of Applied Socio- Economic Research, 5(1), 53. Retrieved from https://www.reaser.eu Elnaga, A. A., Imran, A. (2014). The Impact of Employee Empowerment on Job Satisfaction:Theoretical Study. American Journal of Research Communication,, 2(1), 13-26. Retrieved September 8, 2016, from www.usa-journals.com Gaines, L., Wilson, A. (2005). Leading and Motivating as a Manager. Ceridian Corporation. GanjiNia, H., Gilaninia, S., Sharami, R. M. (2013, Septebmber). Overview of Employees Empowerment in Organizations. Arabian Journal of Business and Management Review (Oman Chapter), 3(2), 38-43. Gardner, T., Wright, P., Moynihan, L. (2011). The Impact of Motivation, Empowerment and Skill-Enhancing Practices on Aggregate Voluntary Turnover. The Mediating Effect of Collective Affective Commitment. Wiley Periodicals. George, J. M., Jones, G. R. (2008). Understanding and Managing Organizational Behavior (5th ed.). Prentice Hall. Gupta, B., Subramanian, J. (2014, November). Factors Affecting Motivation among Employees in Consultancy Companies. International Journal of Engineering Science Invention, 3(11), 59-66. Retrieved September 7, 2016, from www.ijesi.org Imperial College. (2011). People Management Guidance. Managing Informal Conduct or Disciplinary Matters. London: Imperial College. Omar, M. W., Jusoff, K., Hussin, H. (2010). Employee Motivation and its Impact on Employee Loyalty. World Applied Sciences Journal, 8(7), 871-873.