1.Define and explain the meanings 'Ethics' and 'Business Ethics'2.Using the recommended text (Ferrell and Fraederich) and your research on corporateexamples, summarise the reasons behind the need for 'a new focus on business Ethics' in the21* Century.3a. What is the 'Sarbannes-Oxley Act? -3b. Why was it necessary? Use examples to justify.4a.Were there any other legislation or initiatives that came into being after the Sarbannes OxleyAct was passed? Yes or No4b. Identify and briefly explain any one (1) of these initiatives and how it improved businessethics.4.Explain FIVE (5) reasons you believe Ethics to be beneficial to business.Use business related examples to justify.

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Answered: 1. Define and explain the meanings…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

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Problem 1CE

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What lessons can members of a board of directors take away from the Carlos Ghosn saga? What actions can boards take to limit the chance they will face a similar scandal? discuss where Nissan missed the mark and how the board can act to ensure that the firm moves appropriately in this direction. Look to the discussion of integrity-based and compliance-based approaches to ethics, and discuss how the board should use each of these approaches. Ethics can be defined as a system of right and wrong. Ethics assist individuals in deciding when an act is moral or immoral, socially desirable or not. There are many sources of ethics: religious beliefs, national and ethnic beliefs, community standards, family practices, educational experiences, and friends. Business ethics is the application of ethical standards to commercial enterprise. How would you apply any of the concepts on ethical leadership to this situation? What sort of punishment does Carlos Ghosn deserve for his actions?
-Using the extract as an example, critically discuss how applying the framework for the governance of ethics might have prevented Bains & Co from the unethical situation. -Introduction -Reference to the extract -The framework for the governance of ethics -How applying the framework for the governance of ethics might have prevented the unethical practice. -Conclusion
ABC Limited directors discovered that employees colluded to overcome control systems put in place. The company lost US$2 billion through fraud and embezzlement. The directors tried all strategies in the books but failed to change the situation. After seeking legal advice, the directors were informed to engage a corporate governance expert. Required a) The directors picked you. Advise them on the possible governance causes of such ethical behaviour by the employees of ABC Limited. b) Recommend the governance strategies the board of directors can put in place to remedy the situation in the company.
Getting acquainted with the essential terms in the study of professional ethics is notenough, what also matters is you should also be able to explain its inter-relationships. Now, Iwill require you to explain thoroughly your answers. 1. Is it hopeless to try to protect intellectual property in digital media? Why? 2. Should copyright laws protect musical compositions? Should copyright laws protectrecordings of musical performances? Why?
The chapter ends by discussing ethics and the public service. According to the chapter, ethics are substantially dependent on the decisions that individual administrators make and the values they hold. How does that seem to you? Do you trust the decisions of individual administrators? Do you think ethics can be taught? Or do you agree, like the text, that a careful balance must be maintained between “. . . the individual values of public administrators and the professional training they bring to the job . . . a balance between the cultures of their agencies and the oversight of external forces. . . . and a strong relationship between public administrators and the citizens to whom they ultimately are responsible.” Is it possible to promote or maintain this kind of balance?
Greg Smith told us in his speech, why he left Goldman Sachs. One of his reasons was what he described with a situation in a casino. Is it unethical if an investment bank like Goldman Sachs uses the knowledge, that they gain by consulting their clients, to speculate? If you conclude that this is unethical, please support arguments with ethical theories and / or laws in charge.
Please see and determine if the link for news report below discusses an incompetent physician or dentist and action taken project https://www.google.com/amp/s/amp.theguardian.com/us-news/2022/mar/16/wisconsin-dentist-guilty-damaging-patients-teeth-boost-profits https://www.google.com/amp/s/amp.theguardian.com/us-news/2022/mar/16/wisconsin-dentist-guilty-damaging-patients-teeth-boost-profits
III. Write True on the space if the statement is correct. If it is false, explain why it is so. 2. Corporate social responsibility is a business concept that focuses on measurable business value by identifying and addressing social problems that affect the business.3. Common cultural assumptions include the taken-for- granted truths that exist mostly in the unconscious level and are shared by the members of an organization as a result of their collective experience with the organization.4. Small enterprises in the Philippines require a capitalization of P3 000 000.00 and have 10 to 99 employees.
8. Which of the following statement is CORRECT on Philosophical Approaches to Ethics? A. Utilitarian approach advocates that the moral worth of actions or practices is determined by their consequences. B. Rights theories is based on Immanuel Kant saying that people should be treated as ends and never purely as means to the ends of others. C. Kantian ethics recognizes that human beings have fundamental rights and privileges that transcend national boundaries and culture. D. Justice theories reveals that the only social responsibility of business is to increase profits so long as the company stays within the rules of the law.
American Express established a consulting program that sent expert teams of employees into nonprofits to solve organizational problems. This can be considered an example of: (CSLO 7) A. An in-kind contribution. B. Skills-based volunteerism. C. Community-based philanthropy. D. Organizational support. Which of these statements is (are) true regarding the general public? (CSLO 4, 7) A. They deal with businesses through an economic exchange. B. This organizational stakeholder consists of individuals and groups found in society . C. They are unable to influence a firm's reputation. D. All of the above.
3. Corporate governance is driven by various factors in the companv. How can the management and directors contribute to promote effective and good governance: Is there aspecific paradigm in implementing corporate guvernance? 4. Do the benefits of practicing corporate governance outweigh its financial costs? Explain. 5. Is compliance to government regulations a sufficient indicator of corporate governance? Explain.
Although Z corporation has a comprehensive ethics program, numerous employees were charged with financial fraud. If Z corporation is convicted of the crime and sentenced under the Federal Sentencing Guidelines, it can expect--

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1. Define and explain the meanings 'Ethics' and 'Business Ethics'