Brock Mason Brokerage firm had a number of noticeable issues that played close to fraudulent practices. The firm has an explicit strategy of selling their products first and all the other available products second. Such practice along with not spending a lot of time talking with customers, selling stock that is not in the best interest of the customers, false advertising, finding ways to elude disclosure of commissions, and withholding pertinent information from customers before selling the product sends the message of untrustworthiness and dismay to the customer. Most people search for a brokerage firm with the intent of building a strategic partnership to assist in making good financial decisions. Whether they need advice for …show more content…
In order to accomplish this, the firm must provide all the pertinent information at the time of decision making, not after the fact such as Brock Mason did in mailing the prospectus to its clients after a purchase. I feel that most of the time, when money is a part of the equation there is a high level of risk involved. I believe it’s true that it is not the money that is evil but the love there of. Possessing, making, and spending money are a way of life; combine that with a company whose sole interest is making money can lead to cheaters and thieves. Who’s really going to represent the customer when the business relationship turns vicious and volatile? It has to be the justice system.
I can’t imagine a world without justice, but the utilitarian principle fails to supports the need for a justice system. In an attempt to identify what is morally right for a society it ignores justice a criteria. The underlying idea is that if you seek the greatest output (i.e., selling stock) with the least amount of cost (to Brock Mason) it will promote the greatest happiness over the less efficient act (underselling the customer). With all of the efforts put forth in promoting happiness, the majority (Brock Mason) in this case, spend much of the time eluding justice and what is right; while laws and regulations attempt to reduce
Read the David Miller case from Chapter 5. After reading the case, describe a reason why someone who has been entrusted with the firm’s assets would commit a fraudulent act against the company. Based upon your understanding of the case and your professional and personal experience, recommend a series of actions that should have been taken in order to pre
In today’s 21st century, it takes good ethics for every company to strive competitively to maintain as the best top competitor in their industries; and has its provocations of smart goal as to how successfully they anticipate their business to function, when it comes to finances, attracting and recruiting employees, begin an admirable corporation to citizens, and while showing customers and employees love, courteous, and appreciation. Companies forestall unethical behavior of bad reputation to uphold the organization values. These atrocious speculations can permanently cause decreased revenues and will degrade the company name, sometimes irreparably damaged.
like all brokerage firms, advertises a full range of products and free financial planning by
1. What were the costs and benefits to stakeholders of the actions taken by Massey Energy and its managers?
1. The Mayor of a large city was given a free membership in an exclusive golf club by people who have received several city contracts. He also accepted gifts from organizations that have not done business with the City but might in the future. The gifts ranged from $200 tickets to professional sports events to designer watches and jewelry.
For this assignment, use the Internet to research high-risk investment brokerage firms that have been indicted or convicted of ethical violations to provide insight and understanding of this market segment.
Nurses are faced with ethical issues and dilemmas on a regular basis. Nurses must understand his or her values and morals to be able to deal adequately with the ethical issues he or she is faced with. Some ethical issues nurses are exposed to may be more difficult than others and the ethical decision making process is learned over time.
Directions: Complete the tasks below. Replace the highlighted text with your own answers. Copy and paste your answers to the student comments box in 1.07 and submit for grading.
Different organizations are driven by specific sets of code of ethics, which are used to protect many different aspect of the organizations, specifically the client, counselor, and organization. Concerning the standards of a counselor, their ethics are not only provided by the laws of the state or their practice, but also outside sources who present basic values and regulations of ethical standards in their code of ethics. This paper will look at two specific associations: the American Counseling Association (ACA) and the American Association
James Rachels argues against utilitarianism on the bases of justice, rights, and backward looking reasons. In this paper I will address Rachels reasoning for rights to be a means of denying a consequentialist view, counter-examples to support his reasons, and why utilitarianism ultimately should be rejected. Utilitarianism is an ethical theory in which only the maximum amount of happiness for the most amount of people matters. It is a consequence based philosophy where an action is morally right if it benefits the majority of society, which creates many loop holes for injustice. Utilitarianism opens a door to exploit others in a morally inept fashion, allowing people to believe their actions are right when actually they are morally wrong.
An ethical dilemma is an incident that causes us to question how we should react based on our beliefs. A decision needs to be made between right and wrong. I have experienced many ethical dilemmas in my lifetime, so I know that there is no such thing as an ethical dilemma that only affects one person. I also know that some ethical dilemmas are easier to resolve than others are. The easy ones are the ones in which we can make decisions on the spot. For example, if a cashier gives me too much change, I can immediately make a decision to either return the money or keep it. Based on Kant’s, categorical imperative there are two criteria for determining moral right and wrong. First, there is universalizability, which states, “the person’s
A code of ethics is a set of written principles regarding conduct and behavior created by the organization to serve as a guide. The purpose of ethical codes is to give its employees, management, and any interested party a reference point that adheres to company policy, standards, and ethical beliefs. The code is made visible to the public to ensure professional integrity, quality, and to prevent misguided conduct. Regardless of the organization or governing body a code serves as a go-to guide because ethical issues can stem from anywhere at any given time. The Code of Ethics for Nurses is so dynamic because as technology changes, so does the code to ensure that updated knowledge is provided to healthcare workers as they address new ethical
The word “ethics” comes from Greek ethikas meaning character. Today, we use ethics to describe the normative standard of behavior. The history of philosophical ethics has been broken up into five rational methods: Virtue, Traditional, Modern, and Post-Modern Ethics. Within these periods, the philosophy of ethics changed along with the changes being made within society.
In today's world, individuals can make a single decision that can have a profoundly positive or negative effect on their family, their employer, coworkers, a nation, and even on the entire world. The life we lead reflects the strength of a single trait: our personal character. Personal ethics are different for each person but for the most part, people want to be known as a good person, someone who can be trusted, and he or she are concerned about his or her relationships and personal reputations. As we go through this paper, we will focus on answering what are ethics, what are your ethics, where do your ethics come from, and how do you manifest your ethics?
Utilitarianism is one of the best known and most compelling good hypotheses. Like different types of consequentialism, its center thought is that whether activities are ethically right or wrong relies on upon their belongings satisfaction or despondency. The purpose . Utilitarianism depends upon some hypothesis of inborn quality: something is held to be great in itself, aside from further outcomes, and every single other quality are accepted to get their value from their connection to this characteristic great as an unfortunate chore. Basically this theory is all about doing something that gives the best outcome. This theory looks for the joy of everybody and dispensing misery only for oneself, as well as for more noteworthy number of individuals. First and foremost, swindling people’s