Corporate Ethics and the Age of Scandal Term Paper by Nicky
Corporate Ethics and the Age of Scandal
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The early millennium was an exceptionally tumultuous time for corporate America. Revelations of major accounting, securities and trading scandals were a regularity during this time, as individuals and organizations of note became embroiled in allegations and indictments. This paper considers the actions and implications of individuals such as Martha Stewart, Lehman Brothers CEO Richard S. Fuld, Jr., Ponzi Schemester and Bernie Madoff through a basic understanding of the distinction between values, morals and ethics both with and without respect to corporate affairs.
From the Paper:"This has a specific implication where corporate behavior is concerned as well, with one source denoting that "values are the rules by which we make decisions about right and wrong, should and shouldn't, good and bad. They also tell us which are more or less important, which is useful when we have to trade off meeting one value over another." (Changing Minds, 2009) This is a useful point of inception for understanding how ethics are related. These are typically parameters defining that which is considered acceptable in professional and interpersonal affairs, helping to apply moral individuality and social value systems in the context of a specific and formal culture. These are therefore intended to be shared amongst a collective such as those in a business, organization or industry. Without a defined ethical core in an organization, it may be difficult to harness the values which are crucial to keeping a company on its course and it may simultaneously be difficult promote an internal culture where individuals act according to a personal moral center."
Sample of Sources Used:
- Caruso, D. (2008). Prosecutors Subpoena ex-Lehman CEO Richard Fuld. Nachrichten English News. Online at http://www.welt.de/english-news/article2595425/Prosecutors-subpoena-ex-Lehman-CEO-Richard-Fuld.html
- Changing Minds. (2009). Values, Morals and Ethics. Changing Minds.org. Online at http://changingminds.org/explanations/values/values_morals_ethics.htm
- Cline, A. (2008). Ethics, Morals, Values: How Do They Relate? About Philosophy. Online at http://atheism.about.com/library/FAQs/phil/blfaq_phileth_values.htm
- Ferrell, O.C., Hirt, G., & Ferrell, L. (2007). Business - A Changing World, 6th edition. McGraw-Hill Irwin.
- Healy, G. (2004). Individual Liberty, Free Markets, and Peace: Lessons of Martha Stewart Case. CATO Institute.
Cite this Term Paper:
Corporate Ethics and the Age of Scandal (2011, June 26) Retrieved March 22, 2023, from https://www.academon.com/term-paper/corporate-ethics-and-the-age-of-scandal-147757/
"Corporate Ethics and the Age of Scandal" 26 June 2011. Web. 22 March. 2023. <https://www.academon.com/term-paper/corporate-ethics-and-the-age-of-scandal-147757/>