Ethics of Penn Square Bank and the Dow Corning Bankruptcy Alisa Crowther ACC/557 Ethics May 5‚ 2011 David Schwanke Ethics of Penn Square Bank and the Dow Corning Bankruptcy Ethics play a role in everyday business. Many company executives in an attempt to build a profitable organization and build individual wealth are confronted with ethical decisions daily. Penn Square Bank and Dow Corning have both made decisions in their business that started out making millions of dollars
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Ethics of Penn Square and Dow Corning Ethics of Penn Square Bank and the Dow Corning Bankruptcy Penn Square Bank: What were the ethical pressures on the firm concerning documentation‚ credit extension‚ and revenue recognition that lead to the final collapse? What should have been done to reduce or offset these pressures? Penn Square Bank was a small commercial bank in Oklahoma City which made high-risk financial loans during the late 1970s in the oil boom. The bank ultimately collapsed
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Ethics of Penn Square Bank & the Dow Corning Bankruptcy According to Norm Bowie‚ “sometimes being moral enhances the bottom line rather than reduces it” (Hartman‚ 2005‚ p108). Unfortunately‚ in the instances of Penn Square Bank and the Dow Corning bankruptcy‚ that may not have been the case. The following will examine the particulars of these situations and discuss the ethical issues present for each. Penn Square Bank Penn Square Bank was a small bank that played a large role in the Oklahoma
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EXECUTIVE SUMMARY Dow Corning is a global leader in silicone-based products. It sold its products to more than 80 countries globally and has a 40% worldwide market share in 2006. Its success to date was a large part driven by a major marketing initiative that revived the company half a decade ago‚ the launch of dual brand strategy and the resultant launch of the Xiameter brand. The Xiameter brand was an instant success‚ but is now experiencing challenges from increasing competition. This paper
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for Dow Corning’s poor performance between 1995 and 2001 as show in case Exhibit 3? Externally‚ Market was changing. Down Corning kept on losing customers to low-price suppliers. 1) Big global and regional rivals were increasing their efficiency of supply chain to provide lower cost to the customers. 2) Small local players with no R&D costs and low overhead were offering a range of commodity silicone products to bulk customers at low price. 3) The commoditization trend was also denting Dow Conning’s
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Business Ethics Analysis of The Dow Corning Corporation BACKGROUND Dow Corning Corporation began operating with Dow Chemical in 1943 when Dow Corning agreed to supply the silicone technology‚ while Dow Chemical supplied the manufacturing processes (Wilkicki and Craig). In the 1960s‚ Dow Corning began manufacturing silicone breast implants to use for reconstructive surgery of cancer patients and for breast augmentations. However‚ Dow Corning knew as early as the 1950s that silicone
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Individuals who spend a majority of the working day on the go tend to need access to certain information in real-time. Some of the most common occupations are sales‚ insurance‚ and telecommunications. In the case of Dow Corning‚ the sales force has been described as not adaptive to change unless it relates to increasing income and benefits time management. (O’Brien‚ & Marakas‚ 2011). Some of the advantages of implementing mobile Customer Relationship Management tools are having more information prior
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crisis. The Dow Corning silicone breast implant crisis has become a benchmark of how not to handle a crisis. There are a number of valuable lessons learned from this particular crisis. Both crises dealt with public health and safety issues‚ but both were handled very differently. Because of this‚ Dow Corning’s reputation and image suffered considerably. As a result‚ Dow Corning is still suffering today from a crisis that began in the late 1980s. The company filed Chapter 11 bankruptcy in 1995 and
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Dow Corning Silicone Breast Implants Albert Tapia Dr. Robert Vega BUAD 5304 Ethics July 5th 2015 Dow Corning Dow Corning Corporation was a start up venture between Dow Chemical Company and Corning Inc. in 1943. The goal of Dow Corning Corporation was to create and market a new material‚ silicone. The joint venture proved successful‚ with nearly 10‚000 employees and revenues upwards of $2 billion‚ it accomplished this goal with the collaboration of Dow Chemical and Corning‚ both interested in increasing
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Dow Corning Corporation’s (DCC) lack of ethical framework lead to not fulfilling its obligation to society in a socially responsible manner. DCC’s unsatisfactory code of conduct resulted in insufficient disclosure of information to the public. 2.0 Situation Analysis As the diagnosis for breast cancer and other traumas are rising the demand for breast reconstruction in women is essential. There is a need for health industries and companies to provide safe and efficacious options while restoring
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