Ethical Change Management In a business climate tainted by scandals such Enron‚ Tyco and Adelphia‚ it is much more ‘professional’ and MBA-like to discuss solutions to management problems with strategies more along the lines of Corporate Governance‚ Sarbanes-Oxley and Fiduciary Duties… than by reacquainting readers with the Golden Rule. Yet‚ despite the depreciation of the simple in light of the complex and insanely expensive‚ there is still great value to gain by going back to the basics.
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resulted in a variety of codes and regulations to meet the needs of local capital markets[i]. For instance‚ in the United States‚ several major corporate and accounting scandals such as those perpetrated by Enron‚ WorldCom‚ Tyco International‚ and Adelphia communications resulted in the enactment of laws and rules to restore and maintain confidence in the financial markets. Other nations experienced similar situations and enacted rules and regulations to promote consumers and investors’ confidence
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The Sarbanes-Oxley Act The Sarbanes-Oxley Act of 2002(SOX which is also known as the Public Company Accounting Reform and Investor Protection Act was enacted in July‚ 30‚ 2002 as a prompt response to the financial crimes scandals (Adelphia‚ Enron‚ WorldCom‚ Peregrime Systems ‚ Arther Anderson and Tyco International). SOX establishes new‚ stricter standards for all US publicly traded companies. It does not apply to privately companies. The Act is administered by the Securities and Exchange Commission
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<http://www.biblegateway.com/>. Essex‚ Keith H. "The Rapture and the Book of Revelation." The Master\_Seminary Journal 13 (2002). St. John ’s University‚ Queens. 10 Nov. 2007. Keyword: Christian Eschatology. Fischer‚ Mark F. "Rahner: Eschatology." Adelphia. 6 Nov. 2007 <http://users.adelphia.net/~markfischer/Rahner900.htm>. Lane‚ Dermot A. Keeping Hope Alive: Stirrings in Christian Theology. Eugene‚ Oregon: Wipf & Stock‚ 1996. 149-167. Lindsey‚ Hal. The Rapture. Toronto: Bantam Books‚ 1983. 85-157
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The Influence of Sociology on Ethics and American Jurisprudence Over the past decade‚ Sociological studies indicate that American’s ethical standards have dramatically declined. Major leading corporations in the United States have fallen due to serious unethical decisions made by executive management. In response‚ the legal system has changed to encourage ethical decision in our societies and places of business. Sociology is the scientific study of human social life‚ groups‚ and societies
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Chapter 5 Quiz True / False Questions 1. Corporate governance is the system that directs and controls business corporations. True False 2. The development of a separate corporate entity limited organizations to raising funds from individual shareholders in order to grow their operations. True False 3. Managers only are accountable to their owners. True False 4. The board of directors runs the organization on a day-to-day basis. True False 5. The term outside director can be misleading because some
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The Internet is virtual shopping mall that allows the consumer to transact business including banking‚ shopping‚ and a host of day-to-day chores. As much as the consumer has come to rely on this new forum of exchange‚ it is also an instrument of many civil wrongs (cyber torts). This harm includes financial injuries‚ reputable damage‚ theft of trade secrets‚ and invasions of privacy. The Enron Corporation was listed as the seventh largest company in the U.S. with over $100 billion in gross revenues
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their leaders all around the globe (Rottig‚ Koufteros‚ & Umphress‚ 2011). Everyone wants to make and enforce sound ethical decisions because nobody wants to be the next WorldCom‚ Tyco‚ Enron‚ CitiBank (Japan)‚ Arthur Anderson‚ Merrill Lynch‚ or Adelphia. This paper will discuss a fictional organization’s mission and background. The results from an ethical perspective self-assessment will lead up to cogitation between an individual and company’s decision based on personal and organizational
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Introduction The parade of corporate accounting scandals of the last decade‚ with lion’s share occurring in 2002‚ has developed deep antipathy and distrust towards corporations and their reporting practices‚ and casted doubts on the opinions of audit firms. As majority of these accounting frauds occurred in the US (See Appendix)‚ there was a widely-held view that rules-based accounting standards have allowed failure of large corporations like Enron and World Com‚ since US GAAP is perceived to
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of employment‚ such as assignment‚ compensation‚ evaluation‚ and promotion decisions. Lines Brothers in Britain‚ once a highly successful maker of Triang toys‚ was rendered worthless in just a few years by its second generation of leadership. Adelphia Communications represents one of the most disastrous instances of corporate nepotism. In 2004‚ John Rigas and his two sons were disgraced in a highly publicized case of corporate fraud. This can be seen as a case where nepotism ruined a company not
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