Swot Analysis : Corporate Scandals

What is ethically responsible management? How can a corporation, given its economic mission, be managed with appropriate attention to ethical concerns? These are central questions in the field of business ethics. There are two approaches to answering such questions. The first one is Milton Friedman’s shareholder theory of management and the second one is Edwards Freeman’s “Stakeholder” theory of management, two different views about the purpose and aims of a business.

In conclusion, an organization can never have too much oversight within their company. By following an ethical code of conduct and ensuring proper oversight throughout all aspects of their business, they will gain the trust and respect of shareholders and stakeholders alike. The organization will operate in ethical way and any other ethical dilemmas including bribes, embezzling funds, wrongful termination, and accounting fraud will be significantly reduced or eliminated. A quote from Immanuel Kant that is fitting for Dennis Kozlowski, “We are not rich

The purpose of this paper is to evaluate the legality and ethicality of the corporate governance activities that occurred in an ethics case presented in the text. The paper will provide relevant details regarding the legality of the activities, the criteria by which Sarbanes-Oxley would apply to this case, the ethicality of the activities, whether or not the activities were equitable to internal and external stakeholders, and the next steps representing best interest of all stakeholders.

In improving a publicly traded company’s bottom line Sarbanes-Oxley can be a positive factor. By introducing ethics codes and internal controls and building an ethical mind-set in a

The financial crisis of the early 2000s left many investors and stockholders nervous about the accuracy of financial statements issued by public companies. The financial crisis resulted after many previously successful companies suddenly tanked due to restatement of their financials. These companies include Enron, Tyco, Sunbeam, Rite-Aid, Xerox and WorldCom amongst others (Kieso, 2014, p. 17). How could many previously successful companies suddenly go belly-up? The evidence was to be seen, these companies had used malicious accounting techniques to hide massive amounts of debts and increase their assets without having to show them accurately in a fair and honest way on their financial statements.

In recent year we have seen numerous companies fail as a result of these bad and/or fraudulent practices. In 1998 the publicly traded Waste Management Company falsely reported 1.7 billion in earnings. They got caught when the new CEO and management team went through the books.

The requisites in the Code of Ethics represented in the Sarbanes-Oxley Enactment have formed a foundation in the world of business because business administrators and stakeholders are now mandated to abide by the guidelines in the Act but they still need to be improved. When tackling the issue of social responsibility of a corporate it is of utmost significance that transparency be a key contributor, while ethics is considered by most in business as an oxymoron. People that lack moral standards will more often than not look for loo-holes in this relations due to their evil behaviors, however business principles and moral publication should be ensured so that such behaviors are dealt with in line with the law. “There has been a number of scandals reported in relation with accounting fraud and bad corporate governance as this are termed the biggest reasons why businesses are failing as high-profile organizations continue to subside. Investor confidence levels dropping in relation to financial capital markets due to investors incurring losses and correction mechanisms of the market that were in place were inadequate thus forced the enactment of the SOX Act by Congress (Jain,

There have been several breaches of ethical conduct since the passing of Sarbanes-Oxley Act of 2002. This Act was placed into law to protect the consumer against fraudulent activity by organizations. This paper will provide a brief history of the law and discuss some of the ethical components and social implications on corporations. This research will provide information on how the Sarbanes-Oxley Act affects smaller organizations and how it encourages employees to inform of wrong doings.

This research paper endeavors to expose how the Sarbanes- Oxley Act of 2002 might have led to the accountability of holding corporate executives for their actions in the past and also in the future. The paper will examine and explore the genesis of the Sarbanes-Oxley Act as well as give details on the act’s relationship to the ethics of the institution and the persons who work and manage the institution. The paper also proceeds to discuss different corporations around the globe that have been endorsed with the Sarbanes- Oxley Act and their subsequent benefits and demerits as opined by different individuals. The paper shall prove to be a relevant tool for any administrator managing a public company. Anyone going through this

This subject company in this case study is WoolEx Mills. The top management team at the Mills had to act fast to prevent the accusations charged upon them, so that they may venture deep into the United States market. In the process, they had to act in a way that will present the company’s financial statements; cash flows in a way that they did not show any suspicious fraudulent activities. The type of fraud in this case study is known as manipulation of accounts which involves the act of offering the accounts in the way they are not in reality.

This essay will aim to investigate the ethical treatment of shareholders and workers in a traditional, capitalist corporation; The Ford Motor Company and compare and contrast the findings with the treatment of these stakeholders in the Mondragon Cooperative Corporation. The structure of this essay will be as follows; firstly the fundamental differences between the two contrasting organisations will be examined and how these differences impact the ethical treatment of the relevant stakeholders; secondly, the ethical treatment of shareholders in regards to corporate governance and the executive’s accountability and control will be investigated, and lastly, the ethical treatment of workers within the two contrasting organisations will be

The auditing firm has been in engagement with the company throughout the period when the fraud was being committed. One of the common and clear indicators of possible fraud was the company’s cash flow statement. The company experienced positive growth in its profits from the year 1996 through to the year 1998. However, a close analysis of the cash flow statement shows that the company had experienced negative figures of cash flow from both operating and investing activities and positive cash flow from financing activities which would not sufficiently offset the negative cash flows from operating and investing. It is therefore evident

Their employees are united by the strong values of accountability, respect, teamwork and integrity. They make sure that extraordinary ethical standards, and a steady commitment to safety, invade company’s organization. Some of corporate governance has found lacking as following its area;

This paper provides an in-depth evaluation of Sarbanes-Oxley Act, which is said to be promoted to produce change in the corporate environment, in general, by stressing issues of public accountability and disclosure in the financial operations of business. It explains how this is an Act that represents the government's and the Security and Exchange Commission's concern in promoting ethical standards in terms of financial disclosure in the corporate environment.

The purpose of this paper is to highlight the role of external auditing in promoting good corporate governance. The role of auditors has been emphasized after the pass of the Sarbanes-Oxley Act as a response to the accounting scandal of Enron. Even though auditors are hired and paid by the company, their role is not to represent or act in favor of the company, but to watch and investigate the company’s financials to protect the public from any material misstatements that can affect their decisions. As part of this role, the auditors assess the level of the company’s adherence to its own code of ethics.