PHL 323 - Ethics in Management
Dr. Rose Safir
Week 3 Assignment
February, 23 2009
Current Ethical Issue in Business
The importance of having ground rules in an organization is critical for the well being of the organization on for it client. The ground rules allow the organization to build its reputation among other competitor companies. These ground rules also leads to prioritize the organization ethical behavior and this will also lead the organization to have a strong reputation that will set the organization to be one of the most reliable organization among other competitors. Is evident that some organizations have strong ethical values than others; in this paper the author will briefly summarize an unethical issue of today’s organization. The author will also identify the ground rules manifested in the situation and as well as the ethical issues.
In the article the president Obama rebuked banker from Wall Street who receive bonus last year, this bonus were valued in millions of dollars. The president Obama called this payout “shameful (Shear, 2009)” and blamed executives for the lack of responsibility during this economy crisis the nation is currently facing. The reaction of the president was based on a report by the New York Times where stated that “Wall Street executives who had given themselves almost $2-0 billion in bonuses in 2008…the report done by the New York state comptroller’s office that said last year’s total of Wall street bonuses was the sixth-highest ever, despite the poor economic performance of the firms (Shear, 2009)..” The president reject such as behavior from the executives. The president felt frustrated and puzzled by the unethical decision taken by the Wall Street high executives. The frustration of the president was more than evident based on some declaration he made after he find out this shameful situation. “There will be time for them to make profits,... [continues]
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