energy corporation, Enron and it surrendered back its rights of auditing. This led to Enron 's bankruptcy and loss of 85,000 jobs. Any type of business development requires constant planning. The expression planning refers to defining the goals of the business
The board of directors is also highly influential to a corporation and should therefore also be held accountable for supporting a corporation’s ethical code of conduct. The board of directors is responsible for looking out for the best interests of shareholders (Cross & Miller, 2012). The board of directors was designed to monitor executives, however in practice this is not always the case (Cross & Miller). Obviously this is monitoring is a necessary duty. A proposed change to ensure that the board
Defining the Corporate Veil & Its Legal and Ethical Boundaries Introduction What is a viable reason for the Courts to pierce the Corporate Veil? The economy improves as businesses expand and increase in revenue. Corporate Social Responsibility (CSR) dictates that corporations go above and beyond in taking responsibility for the effect the corporation on has on the environment and the social wellbeing. With as many people in production, the lower the employment rate can be expected and the better
there somewhere.” -Daniel Henninger, The Wall Street Journal The collapse of Enron Corporation has created many discussions about the structure of corporate governance. The question of this essay first calls to examine some of the strengths and weaknesses of the shareholder model of corporate governance and how the fundamental principles of this model were instrumental in the disintegration of Enron. In particular, I will discuss Deakin’s article about the third position addressing how
Enron's Ethical Dilemma: Ethical and moral issues have received substantial focus in the modern society because of the recent cases in which huge corporations with big profits and earnings have faced bankruptcy. Enron is an example of corporations that have faced bankruptcy in the recent past because of the numerous problems it had with federal and state governments for manipulation of financial statements. While these problems are not only attributed to organizational issues, accounting firms
TECHNOLOGY GRADUATE SCHOOL OF BUSINESS AND LAW ETHICS AND CORPORATE SOCIAL RESPONSIBILITY IN DRIVING ORGANIZATIONAL SUCCESS FOR MULTINATIONAL COMPANIES IN OIL/MINING INDUSTRY Submitted in partial fulfillment of the degrees Masters in Business Administration Lecturer: Eileen O'Leary 2010 By: Albertus Rendy Buntaran (S3264165) Executive Summary This paper provides a broad definition of ethical behavior and Corporate Social Responsibility (CSR) in the competitive world of oil and mining industries
also known as ‘corporate citizenship’ can also be seen as an opportunity to maximize an organization’s accountability and transparency while giving them an opportunity to improve their perception in the eyes of the consumer. This perspective of CSR is meant to be viewed as an effort to drive the private sector to take part in community related developmental
Introduction 3.0 Overview 4.0 Task 5.0 Corporate Governance Issues 5.1 Board of Directors 5.2 Shareholders 5.2.1 Implementation of Independent Auditors from Management 5.2.2 Setting up Effective Accounting Rules 5.3 Modern CEOs 6.0 The Role of Corporate Ethics 7.0 Recommended Policies to be Implemented 7.1 Sarbanes-Oxley Act 7.2 The California State Teachers’ Retirement System (CalSTRS) 8.0 The Required Way to Deal with Corporate Failure 9.0 Conclusion 10.0 Recommendation
Globalization and Corporate Social Responsibility - Corporate Culture and Individual Responsibility 1. Based on Alex Gibney’s film version of the rise and fall of Enron, do you accept Joel Bakan’s argument that the corporation shows “psychopathic” traits? I agree with Joel Bakan, however, just partially about the corporation Enron showing ‘psychopathic’ traits. Yes there are traits that they were doing unethical actions that completely ruin many people life-long works and their lives; nonetheless
in a corporation is a matter of following the rules and conditions of the company sponsoring one for employment or doing business with different corporations. The corporations have to keep in mind that any actions or decisions they may take if for the worst to the better it will affect the company as a whole, the stakeholders, and the employees whom it involves along with other businesses that are associated with the corporation. It is mainly the social responsibility of the corporations to make