...Archie R. Scott, Jr. Ethics Case Project 1 Dr. N. Amoah Introduction As the Chief Financial Officer for Camp Industries, I am overall responsible for the information contained in the Financial Statements for the company that shareholders use in making investment decisions and creditors use in making credit decisions. Camp Industries is the defendant in a class action suit filed in the amount of $44 million. After an informal conversation with in house legal counsel, I learn that it is remote that the company will win this lawsuit and our counsel feels that we will probably lose $30 million. Upon sharing this information with a co-worker, it is pointed out that accrual of loss contingencies for unsettled litigation is rare, in practice. My co-worker also points out that if we disclose that management believes that it is probable that Camp Industries will lose a specific dollar amount, that this could serve as ammunition for the opposing legal counsel. His opinion is that a loss should not be accrued and recorded until a final settlement has been reached in the lawsuit. This ethical dilemma deals with loss contingencies. According to our textbook, “a loss contingency is an existing, uncertain situation involving potential loss depending on whether some future event occurs”. (Spiceland, Sepe, & Nelson, 2012) In dealing with loss contingencies, two criteria must be determined, the likelihood that the event will occur and the estimation of the dollar amount of the...
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...Camp Industries is the defendant in a $44 million class action suit. There is a probable chance Camp Industries will lose the case with an estimate of a $30 million loss. When this situation occurs, the company must first accrue for the amount that is estimated as a loss and also include a disclosure note in the financials explaining the situation. The ethical dilemma regarding this case has to do with the loss contingencies and whether or not to accrue for unsettled litigations. Stakeholders in this situation are myself, as the CFO, Camp Industries, stockholders in Camp Industries as well as any financial institution that may being using the upcoming financial statements for whatever reason may be. As the facts state above, there is a reasonable chance the company is going to lose the class action suit and there is an estimate of the loss, so it would appear the ethical action would be to accrue the loss at this time. Granted, it may seem as ammunition for the opposing counsel, but ethically it is the right thing to do. As CFO, my job is at stake if financial statements are prepared with mistakes that the company is fully aware of. Camp Industries as a whole may also lose trust from their stockholders. Stockholders may also lose out on investments due to the lack of awareness of the company’s standings. Integrity of the company is at stake if management knows about a major loss and doesn’t report it on the financial statements. How are stockholders...
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...Ethical Practices Deter Sexual Harasment at Workplace Ethical Practices Deter Sexual Harasment at Workplace Submitted on: 3th January 2016 Submitted on: 3th January 2016 Chew Yoong Sen MBS 151068 Semester 1, Session 2015/2016 MBSA 1533: Business Ethics, Responsibiliy and Sustainability Lecturer: Dr. Abul Quasem Al-Amin Chew Yoong Sen MBS 151068 Semester 1, Session 2015/2016 MBSA 1533: Business Ethics, Responsibiliy and Sustainability Lecturer: Dr. Abul Quasem Al-Amin Table of Contents Papers Table II Abstract 1 Issue 1 Problem Statement 2 Analysis 3 Recommendation 6 Conclusion 8 References 9 Papers Table No. | Title | Journal Name | Year | Authors | 1 | Sexual Harassment In The Workplace: Selected Court Cases And New Legal Provisions In Malaysia | Asian Social Science | 2015 | Kamal Halili Hassan;Yee Zing Lee | 2 | Ethical Leadership: The Effect On Employees | International Journal Of Business And Management | 2015 | Atiya Alshammari;Naser N. AlmutairiShebaib Fahad Thuwaini | 3 | Sexual Harassment In The Workplace: An Overview Over The International Law And Current Law And Practice In Malaysia | International Journal Of Humanities And Social Science | 2013 | Dr. Muzaffar Syah Mallow | 4 | Impact Of Ethical Leadership On Employee Job Performance | International Journal Of Business And Social Science | 2012 | Shukurat Moronke Bello | 5 | Factors Influencing Sexual Harassment...
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...Are Controlled Clinical Trials Really Ethical? Case Study In 2009, two cousins, Thomas and Brandon were diagnosed with the same type of deadly skin cancer within a 2 month time frame of each other. To date, here is no cure for skin cancer and once diagnosed the average life expectancy is approximately 8 months. Current standard of care treatments are aimed at shrinking the tumors and prolonging life. Unfortunately, these standard of care treatments only work in a very small percentage of patients and are very toxic with terrible side effects. Thomas learned of a new Phase 3 clinical research trial sponsored by Roche with an unapproved yet promising drug. His doctor explained that in earlier trials, a majority of volunteer patients who took the wonder drug had seen a drastic reduction in the size of their tumors with very few side effects. The only way ill patients can get the drug is by participating in this trial. The trial is a randomized controlled trial (RCT) which means half of the volunteers will get the experimental drug while the other half will be treated with another standard of care treatment. The purpose of the standard or control arm is to allow researchers to compare the long term effects of the new drug to that of the current standard treatment and determine whether it actually shrinks tumors and prolong remissions. Participants have a 50/50 chance of being placed in either arm of the study. Arm assignments are random and cannot be changed. With limited options...
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...1) What are the factors to be kept in mind while taking ethical decisions? Ethicist Rushworth Kidder suggests that nine steps or checkpoints can help bring order to otherwise confusing ethical issues. 1. Recognize that there is a problem. This step is critically important because it forces us to acknowledge that there is an issue that deserves our attention and helps us separate moral questions from disagreements about manners and social conventions. For example, being late for a party may be bad manners and violate cultural expectations. However, this act does not translate into a moral problem involving right or wrong. On the other hand, deciding whether to accept a kickback from a supplier is an ethical dilemma. 2. Determine the actor. Once we’ve determined that there is an ethical issue, we then need to decide who is responsible for addressing the problem. I may be concerned that the owner of a local business treats his employees poorly. Nonetheless, unless I work for the company or buy its products, there is little I can do to address this situation. 3. Gather the relevant facts. Adequate, accurate, and current information is important for making effective decisions of all kinds, including ethical ones. Details do make a difference. In deciding whether it is just to suspend a student for fighting, for instance, a school principal will want to hear from teachers, classmates, and the offender to determine the seriousness of the offense, the student’s reason for fighting...
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...functions. This report is designed in six chapters. Initially the opening words about the report were described in the first segment titled “Introduction”. The next segment “Overview of Unilever” contains the history of Unilever, Unilever Bangladesh Ltd, and Organizational structure. The next chapters are on firm organizing, Industry Analysis, CSR Activities, Innovative Managerial Practices And at last is the conclusion of this report Table of Contents Contents | page | 1. Introduction…………… | | 1.1. Unilever Global | 1 | 1.2. History of Unilever | 1-2 | 1.3. Unilever Bangladesh Limited | 2 | 1.4. Unilever Today | 2-3 | 1.5. Mission | 3 | 1.6. Vision | 3 | 1.7. Strategies followed by Unilever | 3-5 | 1.8. Consumers | 5-6 | 1.9. Products offered | 7-9 | | | 2. Firm Organizing……… | | 2.1. Organizational Structure | 9-13 | 2.2. Decision Making Process | 13-14 | | | 3. Industry Analysis………. | | 3.1. Porter’s Five Forces | 14-15 | 3.2. SWOT Analysis | 15-16 | | | 4. Corporate Social Responsibility | 16-17 | | | 5. Innovative Managerial Practices | | 5.1. Entrepreneurship Encouragement | 18 | 5.2. Ethical Dilemmas | 18-19 |...
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...History of tatto in the world Tattooing has been a Eurasian practice at least since Neolithic times. Ötzi the Iceman, dating from the fourth to fifth millennium BC, was found in the Ötz valley in the Alps and had some 57 carbon tattoos consisting of simple dots and lines on his lower spine, behind his left knee, and on his right ankle. These tattoos were thought to be a form of healing because of their placement which resembles acupuncture.[19] Other mummies bearing tattoos and dating from the end of the second millennium BC have been discovered, such as the Mummy of Amunet from ancient Egypt and the mummies at Pazyryk on the Ukok Plateau.[5] Pre-Christian Germanic, Celtic and other central and northern European tribes were often heavily tattooed, according to surviving accounts. The Picts were famously tattooed (or scarified) with elaborate, war-inspired black or dark blue woad (or possibly copper for the blue tone) designs. Julius Caesar described these tattoos in Book V of his Gallic Wars (54 BC). Various other cultures have had their own tattoo traditions, ranging from rubbing cuts and other wounds with ashes, to hand-pricking the skin to insert dyes. Tattooing in the Western world today has its origins in the maritime expeditions, throu the contact with amerindian tribes and Polynesia, by sixteenth - eighteenth century explorers. Especially the Polynesian practice became popular among European sailors, from them they took the Samoan word "tatau", to describe the actual...
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...A500 Accounting Ethics—Introduction Lecture Outline * Two Preliminary Questions: 1. Why is ethics taught in accounting, business, and tax schools? 2. Should ethics be taught in accounting, business, and tax schools? I. Why teach it?: * Because of these guys and others like them: Kenneth Lay, Founder Jeffrey Skilling, CEO B.A. and M.A. in economics from the University of Missouri. Ph.D. in economics from Houston University. On May 25, 2006, Lay was convicted of 10 counts of security fraud. On July 5, 2006, while vacationing in Colorado, he suffered a heart attack and died before sentencing. As a result, the federal judge that presided over his trial vacated Lay’s conviction. B.A. in business from the Southern Methodist University. M.B.A. from the Harvard Business School (top 5% of class). Convicted of conspiracy, securities fraud, making false statements, and insider trading. 24-year, four month sentence. The DOJ in 2013 agreed to reduce it to 14 years in return for Skilling releasing $40 million in restitution to victims, held up by appeals. Andrew Fastow, CFO B.A. in economics from Tufts University. M.B.A. from Northwestern University. In 2004, he pled guilty to two counts of conspiracy to commit wire and securities fraud, forfeited $30 million, and agreed to testify. Received a six-year sentence. Now works...
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...CHAPTER 1 WHAT IS ETHICS?* Stories about “unethical” behavior in business abound. The recent scandals permeating the financial services, savings and loan, and other industries have caused a growing concern about ethics in the workplace. Success often appears to be measured in only dollars. The claim that “greed is good” seems to reflect the behavior of many people in our society. Indeed, the desire to possess more and more seems pervasive—and business, like other institutions, reflects the values, beliefs, and personal goals of our society. Time, Newsweek, the Wall Street Journal, and countless other magazines and newspapers have called attention to unethical practices, bemoaning the “sleaze, scandals, and hypocrisy”1 undermining our moral bearings. In short, there is a great deal of concern about ethics in general, and business ethics in particular. This reading will examine what ethics is and how people decide what is “right” and “wrong.” The word ethics has a number of meanings. Merriam-Webster’s Collegiate Dictionary gives several definitions of ethics, including: ● the discipline dealing with what is good and bad and with moral duty and obligation ● a set of moral principles or values ● a theory or system of moral values 2 ● the principles of conduct governing an individual or a group. Ethics, in all of these definitions, is concerned with right or wrong behavior. This reading focuses on the discipline or study of ethics. 1. THE DISCIPLINE OF ETHICS This discipline...
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...Introduction Transportation is a matter that is always changing, from different and newer car model designs to faster subway and railway systems. Taxi services have been around for many years, and they have always seen a demand for that service. As times change, businesses have to be able to adapt to new technologies, geographic areas, culture and behaviors or new business plans will be introduced to the industry. One company that has been recently introduced to the taxi service industry is Uber. Uber is a transportation company that is internationally known but based out of California. Uber is a trending company that provides almost anyone a job, and anyone a ride at a new convenience. This new convenience is in the hands of its users, literally. Uber has based its success off of a mobile application that gives individuals easy access to drivers in their area that can assist them to their desired location. Uber was developed and launched in San Francisco, California, in March of 2009, and today the application is used all over the globe. Developers of Uber, Travis Kalanick and Garrett Camp, were in the streets of Paris and couldn’t get a cab, this is when the idea of Uber was born, to solve a problem. From then on they based their actions off of a simple phrase, push a button, and get a car. There are many things about this company that sound appealing. Living in smaller towns growing up, there didn’t seem to be a high demand for a taxi service, but the relevance and convenience...
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...Please Note: Please use this as a study guide only. This is simply my perspective on the problem and its alternative solutions. You will need to write your own essay from your own perspective and in your own words. You can summarize, and paraphrase the information to fit your needs but I would advise that you do not turn it in word for word as your own work or you risk plagiarism. Also please note that my tables are within the text of the paper for better understanding of the concepts. Your instructor may require that you put them at the end of the paper. Good luck with your studies! Problem Solution: Foundation Schools The challenges of today’s business management arena are legion. Effective managers must carefully and accurately analyze each situation, diagnose the correct problem and proceed to apply the correct solution to help their organizations grow. In today’s challenge-wrought environment managers and the business organizations under their leadership have to devise and execute complex critical organizational strategies. Executing these strategies is essential to the healthy growth of all organizations, and program management is the essential tool that can ensure the proper execution of the critical strategies that achieve organizational growth. Successful program management involves choosing projects that support the organization’s strategic intents in order of their importance to these strategic intents. Effective implementation of projects/programs...
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...satisfying, which is held by many philosophers to be more important than moral conduct. Simply put, ethics involves learning what is right or wrong, and then doing the right thing -- but "the right thing" is not nearly as straightforward as conveyed in a great deal of business ethics literature. Most ethical dilemmas in the workplace are not simply a matter of "Should Bob steal from Jack?" or "Should Jack lie to his boss?" (Many ethicists assert there's always a right thing to do based on moral principle, and others believe the right thing to do depends on the situation -- ultimately it's up to the individual.) Many philosophers consider ethics to be the "science of conduct." Philosophers have been discussing ethics for at least 2500 years, since the time of Socrates and Plato. Many ethicists consider emerging ethical beliefs to be "state of the art" legal matters, i.e., what becomes an ethical guideline today is often translated to a law, regulation or rule tomorrow. Values which guide how we ought to behave are considered moral values, e.g., values such as respect, honesty, fairness, responsibility, etc. Statements around how these values are applied are sometimes called moral or ethical principles. THREE TYPES OF ETHICS Descriptive Ethics: Descriptive ethics involves describing how people behave and/or the moral standards they claim to follow. Descriptive ethics incorporates research from anthropology, psychology, sociology and history to understand beliefs about moral norms. Atheists...
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...pertain to ethical problems, experiments and their designs. After reading this paper you should know that there are some ethical issues when it comes to experimental research. You should also understand and become aware of the steps you should take to accomplish a well-planned experiment (Cooper & Schindler, 2011, p.206). There is information about the types of experimental designs and how they are different. Also discussed are the three communication approaches. Question 9.4 What ethical problems do you see in conducting experiments with human subjects? The question of “what ethical problems do you see in conducting experiments with human subjects?” is truly a multi-layered opinionated question that forces a person to ask “what would be the most responsible way society could condone such acts and what could be the worst case scenario?” The first step in analyzing this question is to define ethics. Ethics is defined as “norms or standards of behavior that guide moral choices about our behavior and our relationships with others” (Cooper & Schindler, 2011, p. 32). The key issues of ethics in experimentation relate to benefits, deception, informed consent, debriefing participants, and the right to privacy (Cooper & Schindler, 2011). It is important that the researcher “discuss the study’s benefits” with the participants “being careful to neither overstate nor understate the benefits” (Cooper & Schindler, 2011, p. 33). We have already seen the worst possible ethical problems in...
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...Chapter 1 Ethical Reasoning: Implications for Accounting Ethics Reflection PENN STATE CHILD ABUSE SCANDAL: A CULTURE OF INDIFFERENCE What motivates an otherwise ethical person to do the wrong thing when faced with an ethical dilemma? Why did Joe Paterno and administrators at Penn State University look the other way and fail to act on irrefutable evidence that former assistant football coach Jerry Sandusky had raped and molested young boys, an offense for which Sandusky currently is serving a 30- to 60-year sentence? According to the independent report by Louis Freeh that investigated the sexual abuse, four of the most powerful people at Penn State, including president Graham Spanier, athletic director Timothy Curley, senior vice president Gary Schultz, and head football coach Joe Paterno, sheltered a child predator harming children for over a decade by concealing Sandusky’s activities from the board of trustees, the university community, and authorities. The Freeh report characterizes the inactions as lacking empathy for the victims by failing to inquire as to their safety and wellbeing. Not only that, but they exposed the first abused child to additional harm by alerting Sandusky, who was the only one who knew the child’s identity, of what assistant coach Mike McQueary saw in the shower on the night of February 9, 2001.1 McQueary testified at the June 2012 trial of Sandusky that when he was a graduate assistant, he walked into the locker room and heard sounds of slapping...
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...Adam Michel Professor Kofler English 1120 7 March 2015 Social Injustice: Sweatshops If an unfair conflict was developing right in front of you, would you go out of your way to do something to stop it? What if it would be to your benefit to stay uninvolved? Many people would say yes, but would they believe strongly enough to continue to fight for what is right? In the mid 1990’s and early 2000’s, several warehouse abuse scandals tainted the reputation of large companies such as Shell, Wal-Mart, and Nike. Cases of employee abuse in factories and sweatshops in Asia and Africa have raised awareness of human rights violations and have inspired people all around the world to continue to fight together to end human rights violations. One case of human rights violations occurred at a Shell oil facility in Nigeria. “Shell is different from other oil companies because it stations its facilities in Nigeria, rather than in the United States, where the company was founded” (Kaeb, 324). By doing this, the company has a higher risk of human rights violation incidents because the distance makes it much harder to monitor what goes on in Nigerian factories and refineries. When the American public gained knowledge of employee abuse in Shell facilities in Nigeria, Shell responded saying that employee abuse is not simply an issue of cruelty within the company, but rather “within a nexus of corruption, poverty, poor public services and infrastructure, government instability, and other factors...
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