...Elizabeth Thomas Business Ethics February 17, 2015 Professor Mari Hadley Summary and Discussion The author provides an overview of the case of Bernard “Bernie” Madoff, a businessman and investment manager who is believed to have stolen as much as $65 billion from his investors (Stanwick & Stanwick, 2014). Bernie Madoff was operating not only the largest Ponzi scheme in history, but is also believed to have perpetrated the largest financial fraud in history. His network of investors included many prominent people from the financial world as well as the social elite. Madoff’s criminal career came to an end in 2008 when the recession developed. His supply of available funds began to diminish, and he was no longer able to pay his investors. Madoff was subsequently arrested, prosecuted, and sentenced to one hundred and fifty years in prison. The authors also discuss the question of how Madoff was able to maintain such a massive criminal operation over a twenty year period (Stanwick & Stanwick, 2014). In particular, the question is examined concerning why the Securities and Exchange Commission was not more thorough in its investigations of Madoff’s activities, especially after Harry Markopoulos had been warning the SEC for the better part of a decade that Madoff’s financial operations were questionable in nature. A discussion is also provided of how various warning signs were available, but how Madoff was able to manipulate potential investigators into failing to...
Words: 733 - Pages: 3
...Business Code of Ethics Evaluation PHL/323 June 25, 2012 Marcia Hotchkiss Business Code of Ethics Evaluation Brink’s is a secure logistics company who provides many different services to customers around the world. Brink’s mission is to provide end-to-end secure logistics worldwide driven by outstanding people and information technology (Brink's, 2012, para. 2). This means Brink’s transports, processes, and stores money and valuables for its customers all over the world. The most prominent portion of the company are the trucks seen by the public servicing customers on a daily basis, but many people do not see the variety of services Brink’s provides behind closed doors. In many cases Brink’s is the main, virtual vault, vault for many large banks around the world. They process deposits of cash and coin as well as pack change orders for businesses who are customers of the banks who employ Brink’s services. Brink’s also provides transportation of valuables, such as jewels, around the world with their Global Services or Air Courier services. Brink’s could not provide these services without having a code of ethics that ensures compliance with laws and to reduce internal loss of customer liability. Ethical System and How it is Used Brink’s ethical system is mostly a duty-based system taken from a legal standpoint due to the nature of its business. Most of the ethical standards Brink’s uses are centered on preventing loss and misuse of company and customer property...
Words: 1189 - Pages: 5
...Evaluation of a Business Code of Ethics Evaluation of a Business Code of Ethics Business codes of ethics are written guidelines use by an organization to set the standards for employees and management conduct and behavior ("Businessdictionary.com," 2013). Business code of ethics is important to deal with ethical the rules and principles needed for a successful business. Also known as code of conduct a business code of ethics reflect an organization values, ethics, objective, and responsibilities ensuring corporate responsibility, quality assurance, and customer satisfaction creating excellence, accountability, and transparency. In this paper an explanation and description of some general information concerning Starbucks mission, and ethical system uses with examples of their uses. The essay will also identify how the code of ethics affects employees, managers, and board of directors within the organization. An explanation of the organization need to modify the existing code of ethics and the best method to implement these changes will be discussed. Furthermore, a discussion of the possible reactions from employees, managers, and the effects the code may have on the organization will be provided. Starbucks general information general information, mission statement, and code of ethics Starbucks first opened in 1971 in Seattle historic Pike Place Market owned by three partners Jerry Baldwin, Zev Siegel, and Gordon Bowker. During the first decade,...
Words: 1239 - Pages: 5
...Evaluation of a Business Code of Ethics Evaluation of a Business In this paper I will discuss Kaiser Permanente Hospital’s Code of Ethics and how it affects employees, managers, and the Board of the Directors. This hospital strives for compliance of professional and ethical standards it is to be followed by everyone working for the organization including contractors and vendors. This means to understand the code of conduct ensuring responsibilities to members, setting high standards to care, truthfulness, professionalism, responsible partnering, accountability and responsiveness, privacy and confidentiality to protect personal information. To help with compliance to these standards Kaiser has come up with the annual Corporate Compliance training program and within this there is the Principles of Responsibility Kaiser’s code of conduct. Kaiser’s healthcare reaches for excellence and sets the standard for healthcare reform in America. Kaiser serves about 8.6 million members at 35 medical centers and 431 medical offices across the country ranging from California to Washington D.C. The mission statement for Kaiser Permanente Hospital is a mission of providing high-quality, affordable healthcare and services and to improving the health of members and the communities Kaiser serves through preventive care classes known as the Thrive campaign which offers several programs promoting health and wellness. All physicians, employees, managers, and leaders have essential roles...
Words: 1376 - Pages: 6
...Unit IV Assessment: The Code of Ethics and Evaluation By, Adepitan Fasoro, Columbia Southern University, USA MBA 6301: Business Ethics 1. Fasco Group Inc. Code of Ethics and Evaluation is a written document that states the Group acceptable and unacceptable behaviors expected from all Group employees. 2. This code of Ethics represent the values and ethics with which Fasco Group Inc. conducts business and will continue to uphold the highest levels of business Ethics in all our business dealings. Fasco Group Inc. Code of Ethics encompasses all aspects of our business, including: Human resources, Production, Sales, Customer services, Purchasing, and Accounting. It also addressed the company’s ethical standards, what is expected from `every employees of Fasco Group Inc. which includes: Good communication, Honesty and Integrity, Fair Conduct, Compliance with rules and regulations, obeying all applicable laws, reporting violations, Competence and others. A. Human Resources: i. Fasco Group Inc. shall give equal employment opportunity to all applicants ii. Fairness in training, Promotion and disciplinary of all employees. B. Production: i. All Group employees must ensure that production function or activities are damaging to the final consumers or society. ii. Remove any defective product and service from going into circulation. C. Sales and Marketing: i. Unhealthy rivalry with competitors which might leads to any unethical conduct shall...
Words: 548 - Pages: 3
...Evaluation of a business code of ethics Joshua McCoy PHL/323 March 21, 2012 Dr Sharon Thomas Evaluation of a business code of ethics There are many different types of ethics in the world today. The one that I will talk about will be the business code of ethics of Starbucks Coffee Company. In 1971 Starbucks opened its first store in Seattle’s Pike Place Market. In 2010 Starbucks has over 16,858 in both the United States and all over the world. Starbucks mission statement is “Our mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. Here are the principles of how we live that every day: Our Coffee: It has always been, and will always be, about quality. We’re passionate about ethically sourcing the finest coffee beans, roasting them with great care, and improving the lives of people who grow them. We care deeply about all of this; our work is never done. Our Partners: We’re called partners, because it’s not just a job, it’s our passion. Together, we embrace diversity to create a place where each of us can be ourselves. We always treat each other with respect and dignity. And we hold each other to that standard. Our Customers: When we are fully engaged, we connect with, laugh with, and uplift the lives of our customers – even if just for a few moments. Sure, it starts with the promise of a perfectly made beverage, but our work goes far beyond that. It’s really about human connection. Our Stores: When our customers...
Words: 1347 - Pages: 6
...Evaluation of a Business Code of Ethics, The Hershey’s Company PHL/323 Mission Statement Hershey’s Mission Statement noted here, (Social- Responsibility/Marketplace) “Bringing sweet moments of Hershey happiness to the world every day,” Provides the focus of all operations within the Hershey’s Company. Although Hershey’s mission statement provides a simple goal that encompasses acknowledgment of global market share with the sweet moments of happiness provided in every aspect of Hershey’s daily endeavors, a strict code of ethical business conduct forms the underlying fabric that governs all endeavors. Commitments The Hershey’s company understands the scope of responsibilities included with company success as its global influence demands considerable resource utilization. These responsibilities extend past bottom line profit to supporting various charities focused on providing for the needs of children. Hershey’s Code of Ethical conduct contains detailed information as mentioned by, (Code of Ethical Business Conduct, n.d.) “Attempts to address most common legal and ethical issues that we might encounter” To Fellow Employees The foundation of Hershey’s success...
Words: 1265 - Pages: 6
...Evaluation of Business Code of Ethics Derek Matthews University of Phoenix Evaluation of Business Code of Ethics “In poor countries, officials receive explicit bribes; in D.C. they get the sophisticated, implicit, unspoken promise to work for large corporations” --Nassim Nicholas Taleb, The Bed of Procrustes: Philosophical and Practical Aphorisms Code of Ethics and Standards of Practice of the NATIONAL ASSOCIATION OF REALTORS ® Effective January 1, 2012 Duties to Clients and Customers Article 1 When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity, REALTORS® remain obligated to treat all parties honestly. (Amended 1/01) “Obligation to treat all parties honestly” is part of the language in the second sentence of the first paragraph of Article 1 under Duties to Clients and Customers. The reason I stressed this sentence because honesty was a forgotten responsibility during the bubble burst of nearly 6 years ago. As a licensed real estate agent one must uphold a fiduciary responsibility to ensure ethics are on the forefront of every interaction. Since 2007 as a result of unethical practices scaling from your local sales agent to the...
Words: 1215 - Pages: 5
...Evaluation of Business Code of Ethics Diane Gutierrez PHL/323 July 15, 2015 Rob Inglis History Bed Bath & Beyond is the largest superstore in the United States, selling household items with about 1000 stores throughout the U.S., Puerto Rico, and Canada. This powerhouse company began in 1971, in New Jersey as Bed ‘n Bath, and has been able to acquisition approximately five other domestic retailers over the years since, 2002. In 1987, the company changed its name to Bed Bath & Beyond as to reflect its expansion from just bed linens and bath accessories to a much larger superstore. Mission Statement & Code of Ethics Ensuring that Bed Bath & Beyond is the customers “first choice” is the top priority and having previously worked for this company, I can speak from personal experience that Bed Bath & Beyond does an excellent job at living up to this. The Company's strategy is to achieve this objective is through excellent customer service, an extensive breadth and depth of assortment, everyday low prices, and introduction of new merchandising offerings, supported by the continuous development and improvement of the infrastructure. Big organizations, such as Bed Bath & Beyond, operate with some sort of code of ethics or code of conduct in place. What this code of ethics does is depicts a company’s standards and values along with other numerous topics, such as legal requirements that they must operate under. Bed Bath & Beyond operates under the...
Words: 1223 - Pages: 5
...Evaluation of Business Code of Ethics This paper is discussing the business code ethics of Famers Insurance Company. Farmers Insurance Company first established a reputation in the Insurance industry in 1928 and was founded by two men that shared commonalities of wanting to provide valuable insurance services at an affordable price to consumers. The mission statement that Farmers cherishes states today, “We will achieve market leadership by driving innovation and operational excellence to provide the best value and experience for every customer we are privileged to serve” (Foremost Insurance, 2012). Currently, Farmers Insurance reigns as an industry leader standing as the country’s third- largest insurer of homeowners and car insurance and offers lots of other different insurance and financial services (Farmers, 2012). Abiding by a code of ethics was of great importance to co-founders Jack Tyler and Thomas Leavey. In the insurance industry, most concerns that policyholders express are, “Will I Be Covered” and “Will I Be Compensated Fairly”. Ideally, Farmers Insurance found dedication in following a set of core values that parent company Zurich established for agents, brokers, investors, and employees to abide by that would allow business operations to flourish and remain stable in even the most uncertain times. Farmers Insurance focuses on several core components that represent ethical democracy; honesty, customer centricity, creating sustainable value, excellence...
Words: 1178 - Pages: 5
...Evaluation of a Business Code of Ethics Rey Gonzales PHL/323 July 9, 2014 University of Phoenix Evaluation of a Business Code of Ethics Macintosh other wise known as Apple, a premier leader in computer based technology. But how did this amazing company come to be? Apple’s first product was vastly different then the products being sold today. The Apple I, which lacked only one thing a graphic user interface this was conspired by apples co-founder Steve Wozniak. Co-founder Steve Jobs was able to convince Wozniak that the product could be sold commercially. With both Steve’s on board they unveiled Apple in 1976 at the Home Brew Computer Club. The company spiked with big gains, as to a few years later almost flopped and almost bankrupt. That is when jobs left the company and did not return for quite some time, it was 1997 when he returned to save the struggling company. He came back and implemented the “closed door” policy, conducted flatted organizational structure rather then the traditional layers of management. When Jobs returned to help the company he made room form improvement in all area apple is unique company that took the technology market with force. With the lunch of the apple iPod, the iTunes, Mac computers, and apple TV to name a few, apples vision states “Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet...
Words: 1251 - Pages: 6
... G. I believe I will eat sand because it is the standard meal for my community. • Develop your own workplace example that fits with each system. Present each workplace scenario in a substantial paragraph of approximately 40 words. Although the table field will expand to accommodate your workplace examples, you may list them at the end of the table; make a note in the table to see the attached examples, however, so your facilitator knows to look for scenarios below the table. • Format references consistent with APA guidelines and include them after the table. |Theory/System and Brief Definition |Other Names |Real-World Example |Workplace Example | |Duty-based ethics |Deontology, pluralism, moral |C. I believe...
Words: 1070 - Pages: 5
...In this report, the ethics statements of AT&T will be analyzed, a determination of which ethical systems are used by the firm, Why AT&T might need to modify their code of ethics, the possible reactions to the code, and the effects of the code of ethics on AT&T. The telephone was invented by Alexander Graham Bell over 130 years ago, since then the transformation of the telephone has revolutionized the way the world communicates. This revolution has led the way to the cellular phone that was actually invented in 1900 by Reginald Fessenden. This led to the invention of the radio. American Telephone and Telegraph company was created in 1885 and grew from there into the AT&T that we know today. AT&T began to make telephone service mobile in 1946 and from there a new industry was born. The mission and vision statement for AT&T is Today, our mission is to connect people with their world, everywhere they live and work, and do it better than anyone else. We're fulfilling this vision by creating new solutions for consumers and businesses and by driving innovation in the communications and entertainment industry (Farfan, 2013) The ethical system that is used by AT&T is a combination of ends-driven, relativistic, entitlement, and duty-driven. The ethical code is broken down into nine components. The first component deals with honest and ethical conduct, this portion is a part of the duty-based because it asks for a moral obligation from employees to act in a certain manner; both honestly...
Words: 417 - Pages: 2
...Evaluation of Business Code of Ethics: Walmart Nina Brown PHL/323: Ethics in Management August 8, 2011 David Rubenstein Evaluation of Business Code of Ethics: Walmart A code of ethics is a set of written guidelines issued by an organization to its employees and management regarding ones conduct and behavior (Business Dictionary, 2011). Principles and standards are important, but they are also crucial in everyday life expectancy as well as his or her work setting. The function of a code of ethics policy is to provide its personnel, administration, board of directors, and others an orientation that abides by a business course of action, principles, and ethical standards. Each business should develop a code of ethics as a standard for his or her industry to abide by daily. It should concentrate on major factors important to the individually industry requirements. The honesty of an industry and its workers is essential to the general success of the organization as a unit. This evaluation focus is on Wal-Mart the number one fortune 500 company in the world. This process will include general information about Walmart including its mission statement, ethical system, and it putting into practice on an employee, management, or board of director level. This paper will also include information on modifying the existing policy, reactions expected from employees and managers, effects of organizational culture and the effect on the organization itself. History In 1962 the...
Words: 1630 - Pages: 7
...This is what I am expected to do. Assignment 2: Ethics Review In this assignment, you will explore professional counseling ethical codes. You will examine multiple codes of ethics to assist in practicing CMHC in an ethical manner. You will also familiarize yourself with the sections of the codes that govern your responsibilities as a counseling student. Tasks: * Compare and contrast the ACA's, the AMHCA's, and the NBCC's codes of ethics. * Describe your responsibilities as a student as per the ACA's and the AMHCA's codes of ethics. Your final product will be a 3- to 5-page Microsoft Word document written in APA format, utilizing at least three scholarly sources. Your paper should be written in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources; and display accurate spelling, grammar, and punctuation. This is the grading rubric Assignment Components | Proficient | Max Points | | | | Compare and contrast the American Counseling Association (ACA), American Mental Health Counseling Association (AMHCA), and National Board for Certified Counselors (NBCC) codes of ethics. | Thoughtful and insightful understanding of the parallels and variations between the ACA, AMHCA, and NBCC codes of ethics is reflected. Accurate analysis and synthesis of the ethical codes reflects an appropriate connection between the three codes. | ...
Words: 1441 - Pages: 6
