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King Jewels: Leadership in Practice

In: Business and Management

Submitted By markacowan051901
Words 1624
Pages 7
Assignment # 4
King Jewels Ethical Leadership in Practice

By:
Mark A. Cowan

ACC 499
Strayer University
Senior Capstone-Accounting
Dr. Monica Pendergrass

Abstract The purpose of this paper is to discuss the Hong Kong company of KingJewels. Their ethical leadership in practice will be discussed at length. The author will attempt to discuss the leadership style and how it contributed to unethical behavior, proper segregation of duties may have prevented the fraud, the company’s compensation program that probably contributed to the fraud, how culture may have influenced the behavior towards revealing the fraud, and recommendations of how Mai Won should proceed. To understand the company KingJewels, let us discuss a little history of the company and its owner, Andy Wong. Mr. Wong started in the jewelry business from the bottom as an apprentice and worked his way to the top as sales and sourcing manager of an international jewelry before starting his own business. “He recognized that his company had the potential to expand and internationalize its business further by focusing on jewelry design and technology, and on overseas markets. KingJewels specialized in sourcing, trading, and manufacturing precious gemstones. It prided itself on its fashionable and affordable jewelry products. While Wong had successfully turned KingJewels into a highly competitive business, he left KingJewels internal management to Clement Tam, operations manager”. (Capstone p.96) In January 2006, after the books were closed for the year, some irregularities were found by a key staff member. It was discovered that a key member of upper management had accepted compensation, or advantages in return for manipulating KingJewels records, approving the use of substandard gemstones, bribing those under him to keep their mouth shut, and possibly accepting rewards from

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