The WorldCom Scandal

Paper Summary:

The paper provides an overview of the events surrounding the WorldCom scandal and discusses three ethical concepts of utilitarianism, Kantian ethics and discursive ethics. The paper shows how the company employed purposeful deceptive strategies to fool investors and other stakeholders into thinking the company was financially healthier than it truly was. The paper portrays how the Worldcom scandal is a prime example of unethical behavior driven by greed.

Outline:
Abstract
Introduction
Analysis of the Topic
Statement of Position
Arguments in Support of this Position
Conclusion

From the Paper:

"In the 1990s, WorldCom was one of the leading players in the telecommunications industry. However, as the industry took a downturn, WorldCom's history of growth faltered and forced the company to eventually abandon a plan to merge with Sprint, in the latter part of 2000. With this downturn came a decline in WorldCom's stock prices. Between 1999 and May 2002, the organization utilized fraudulent accounting methods to hide their deteriorating financial condition. Then CEO Bernard Ebbers, CFO Scott Sullivan, Controller David Myers, and Director of General Accounting Buford "Buddy" Yates led this unethical strategy ("MCI Inc.", 2006)."

Sample of Sources Used:

• Darwall, S. (2003 Apr). Moore, normativity, and intrinsic value. Ethics, 113(3). Retrieved December 4, 2006, from Academic OneFile database.
• Evan, W.M., & Freeman, R.E. (1988) "A stakeholder theory of the modern corporation: Kantian capitalism", in T.L. Beauchamp and N. Bowie (eds.), Ethical Theory and Business (Englewood Cliffs, NJ: Prentice Hall): pp. 75-84.
• Harsanyi, J.C. (1953), Cardinal utility in welfare economics and in the theory of risk-taking, Journal of Political Economy, 63, pp. 434-5.
• Jeter, L. (2006 Oct 2). Former WorldCom chief begins prison sentence at Louisiana facility. Mississippi Business Journal , 28(40). Retrieved December 4, 2006, from InfoTrac OneFile database.
• MCI Inc. (2006 Nov 22). Retrieved December 4, 2006, from http://en.wikipedia.org/wiki/WorldCom.

More papers on The WorldCom Scandal:

• Essay # 59859 : "The WorldCom Scandal"
• Analytical Essay # 114437 : "The WorldCom Fraud"
• Analytical Essay # 113688 : "The Worldcom Fraud Scandal"

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