Coping with Financial and Ethical Risks at American International Group (AIG) 1. Discuss the role that AIG’s corporate culture played in its downfall. The corporate ethical culture at AIG was far from a good one. The corporate culture focused on high risk taking schemes that were only there to focus mostly on short-term financial gain. The AIG Financial Products unit specialized in derivatives and other complex financial contracts that were tied to subprime mortgages or commodities. While its
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Discuss the Role of Celebrity culture in Politics‚ Evaluating the Impact it Has Had on Political Communication. Citizens in a modern form of democracy are able to access more political information than ever; this information has fused with their established political knowledge and attitudes‚ which reflects the overall political view on the political world. Thus media has built an interactive communication approach between the government and society. This interactive communication approach can
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1. What‚ if any‚ were the relevant institutional voids in China? The relevant institutional voids for AIG in China were: 1. Macro level political and social context- media and non-governmental institutions had very little influence‚ but the government did‚ there was a political power monopoly. 2. Macro level openness of the economy – the Chinese economy lacked openness to foreign direct investment. 3. Product markets – there was weak property right protection‚ in the Chinese market there was
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International Group (AIG). Abstract American International Group‚ Inc. (AIG) reported bogus transactions that hid losses and inflated its net worth. AIG inflated reserve funds that were to be used for paying claims by millions of dollars and that AIG’s CEO Maurice Greenberg repeatedly directed AIG traders late in the day to buy AIG shares to prop up its price. However‚ aside from AIG’s corporate financial reporting errors or outright fraud‚ the companies ethical culture begin to fail because
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Corporate culture is the collective behaviour of people using common corporate vision‚ goals‚ shared values‚ beliefs‚ habits‚ working language‚ systems‚ and symbols. It is interwoven with processes‚ technologies‚ learning and significant events. In addition‚ different individuals bring to the workplace their own uniqueness‚ knowledge‚ and ethnic culture. So corporate culture encompasses moral‚ social‚ and behavioral norms of your organization based on the values‚ beliefs‚ attitudes‚ and priorities
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Corporate Culture The culture of an organization is the set of values‚ beliefs‚ behaviors‚ customs‚ and attitudes that helps its members understand what the organization stands for‚ how it does things‚ and what it considers important"(Griffin‚ 49). In other words‚ "the way things work around here" (Dr. Williams). In order for any small business or large corporation to be successful‚ the employees must understand what is expected of them. While things might be slightly different in a large corporation
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Corporate culture is the behavior of humans who are part of an organization and the meanings that the people attach to their actions. It includes the organization values‚ visions‚ norms and habits. It affects the way people and groups interact with each other‚ with clients‚ and with stakeholders. . Cоmpаrеd to Burеaucracy‚ which hаs writtеn‚ inflexible rulеs and consists of systems of administrations distinguished by its clear hierarchy of authority; corporate culture represents the personality of
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Critically Discuss any five roles of a school counselor. What are the implications of these roles in creating and fostering a healthy learning process Introduction School counseling is now done in most secondary schools throughout Zimbabwe. School counselors consult and collaborate with the school head‚ other teachers‚ administrators‚ parents and other personnel or agencies to support student success at school. The school counselor therefore acts as a liaison between the school‚ the home‚
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American International Group and the Bonus Fiasco On September 16‚ 2008 AIG suffered a liquidity crisis following the downgrade of its credit rating. In response‚ the federal government allotted AIG 85 billion in a bailout to keep the firm afloat in exchange for an equity stake in the company. In a very controversial move‚ AIG paid out more than 500 million in salaries and bonuses to senior employees after accepting the federal assistance money. This outraged the public‚ and in turn politicians
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HOW ORGANIZATIONAL CULTURE SHAPES COMPETITIVE STRATEGIES: A COMPARATIVE CASE STUDY OF TWO ECOMMERCE FIRMS IN CHINA Qiang Ye‚ Harbin Institute of Technology‚ Harbin‚ P. R. China‚ yeqiang@hit.edu.cn Qing Hu‚ Florida Atlantic University‚ Boca Raton‚ Florida‚ USA‚ qhu@fau.edu Yijun Li‚ Harbin Institute of Technology‚ Harbin‚ P. R. China‚ liyijun@hit.edu.cn Abstract Many well-established multinational firms have been attracted to China by its tremendous market size and fast growing economy. While
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