[Name of the Institution] Legal Issue in Business: The Case of Enron
Business ethics is based on normative ethics , standards that ethics are upheld and applied specific to distinguish what is right or wrong, that is to say what should be done or who should not be fact. However, with few exceptions, business ethicists are usually less interested in the foundations of ethics (meta-ethics) or by the principles of justification ethical principles: they show themselves more concerned with practical issues, and any obligation specific practice that may apply to the activity and the relationship to economic (Swartz, 2004).
Discussion and Analysis
Government regulators have been quite willing to act as enforcer for the reformers. In the process, they have criminalized common business practices and created crimes of full disclosure out of whole cloth where there had been none before. This activity made for great theater and lurid headlines that furthered the political ambitions of prosecutors, but it was certainly not at all helpful to the economy. Corporate governance reforms affect every aspect of life in America when they impose unneeded restrictions on management, and the full disclosure system is the most burdensome of all. SEC regulations govern every aspect of securities trading, from the initial offering and the underwriting process to the secondary markets.
The "Enron Scandal" is already a landmark in the history of capitalism that may significantly influence its necessary transformation. The current capitalism "has been a mother," which has escaped all the regulations and controls that kept him within an ethical context.
Business Ethics, Applied Ethics
The trend in recent decades has been to integrate these concepts ever within companies. Be prescriptive, legislating (eg, through the sanction of insider trading, bribes, accounting rules, executive compensation,
References: Dharan, Bala G.; William R. Bufkins (2004), Enron: Corporate Fiascos and Their Implications, Foundation Press, ISBN 1-58778-578-1 O 'Fallon, M, (2005), A review of the empirical ethical decision-making literature: 1996-2003, Journal of Business Ethics, pp. 375-413. Swartz, Mary; Sherron Watkins (2004), Power Failure: The Inside Story of the Collapse of Enron, Broadway Business. ISBN 0-7679-1368-X