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Enron: Lapses in Ethical Decision Making


enron: Lapses in Ethical Decision Making

they found in looking at US companies that have managed to pay dividends without interruption for 100 years or more is the candor in their financial statements. "They said, 'If we take it away, it's not Starbucks anymore " says Chip Espinoza-Johnson, an assistant professor and consultant at Vanguard University in Irvine, Calif. But most were designed to protect the corporation from the conduct of the employee, says Michael Josephson of the Josephson Institute of Ethics in Marina del Rey, Calif. The codes are not any indication of the ethics of a company, he says, and are usually written by the legal department or the human-resources department. "They've lapped the field 10 times says Graef Crystal, a columnist at Bloomberg News and an expert on executive compensation. Today the questions are focused more on financial integrity - and the admonitions for change are coming from the highest levels. Ben Cohen and Jerry Greenfield, the quirky entrepreneurs behind Ben Jerry's ice cream, kept the ratio of top to bottom earners at 7:1 - though that did not last after the two stepped down in 1995. Without naming Enron, President Bush last week challenged business to set a better example. As the Enron Corporation came about in 1985, after the merger took place, many were optimistic at the opportunity of investment. These are just several of the many questions that society is still top of the World pondering over the biggest bankruptcy to ever take place in corporate America. It even sent employees to other matchmaking factories to show them the process.

While the pay issue may never get resolved, many corporate boards have spent a lot of time on the issue of ethics or standards of conduct in the past decade. Next Essays Related to Enron:Lapses in Ethical Decision Making. Many companies instituted new ethics programs in the 1990s, after a series of financial scandals. He still lives in the same gray stucco house he purchased decades ago for 31,500.

Conformity and Group Decisions

The dark humor surrounding the book points to a larger issue in the wake of the company's spectacular collapse: the state of business ethics in America. Despite the enormous moneymaking potential of the idea, Diamond Match did. Providing a five-step ethics job-screen process and an ethicaldecision-making framework, as well as guidelines for conducting avariety of business ethics workshops, Essentials of BusinessEthics is the only guide you will need containing all therelevant facts on business ethics, all in one place. In the 1980s, for instance, many companies vowed to change the Macbeths Plot on Duncan their practices concerning insider trading after a series of scandals erupted on Wall Street. Experts agree most don't. The annual report described, in almost journalistic-expos bluntness, how "darn close" they had come to not getting the contract. In the 1989, corporate chieftains professed their interest in being better environmental stewards after the Exxon Valdez oil spill in Alaska. "And people are stepping back, wondering how this kind of thing bankruptcies such as Enron and Global Crossing could happen when we are paying these people all this money.". Take the Diamond Match Company. Why couldn't federal regulations prevent this from happening? "Companies are in business to make money, and there isn't anything wrong with that - as long as long as they are encased in a set of values and time-tested principals.". To some observers, it's not so much high salaries themselves that are a problem.


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