Class Notes (834,756)
Canada (508,705)
Administration (2,694)
ADM1300 (206)
Lecture

Oct 22 2013.docx

8 Pages
100 Views
Unlock Document

Department
Administration
Course
ADM1300
Professor
Matthew Archibald
Semester
Fall

Description
nd ADM 1300 B Oct. 22 , 2013 YUJIE YI #7038840 Chapter 2 Ethics and Social Responsibility Videos  Dennis Kozlowski (Formal CEO of Tyco) –American Greed - The reason he was caught is that he tried to avoid paying sales tax for over $1 million. - He earned $170 million.  Enron – Smartest Guys in the Room  The Corporation Think about other ethical issues  Martha Stewart – billionaire - 5 months prison, insider trading - Insider training: you are prevailing information which the government doesn’t allow to prevail. You know something that the general public doesn’t know, and you take that as advantage. - $300,000 of share  Raj Rajaratnam - millionaire  1 /8 - 11 years in prison, insider trading - Family left behind  Bernie Madoff - 150 years in prison, Ponzi scheme - Ponzi scheme: similar to the period scheme. The way I was able to give you 10% back because I borrow money from other investors.Afraudulent investment operation that pays quick returns to initial contributors using money from subsequent contributors rather than profit. Video: 60 minutes: US Congress and Senate funding – Washington’s Open Secret Which is not illegal - Campaign funds - Use the campaign funds as leadership packs – loophole (2 largest political scheme). You can use the leadership packs for every expense. - Members will keep the leadership packs for use after they retire. - Family business: have families on the campaign payroll. Ethics and Social Responsibility - Ethics – moral beliefs about what is right and wrong nd ADM 1300 B Oct. 22 , 2013 YUJIE YI #7038840 - Social Responsibility – manager’s duty to make decisions that promote well- being of stakeholders and society - Ethics deals with an individual’s decision that society evaluates as right or wrong - Social responsibility is a broader concept that concerns the impact of an entire organization’s activities on society Ethical Issues - Conflict of Interest – person must choose to advance own interest or those of others (advancing personal incomes versus the whole organization) - Honesty and Integrity – general values of decision makers; obey law… what else? - Loyalty versus truth - to the company versus the business relationship (maintaining company loyalty to who actually do wrong things) - Whistle blowing – disclosure to the company or authorities of illegal or unethical practices. Shaping Ethical Conduct - EthicalAwareness – creating a code of conduct - Ethical Education – provide the tools to evaluate options and arrive at solutions 3  8  - EthicalAction – turning decisions into actions. Provide a “hotline” or have an ethics officer - Ethical Leadership – those at the top of an organization must show ethics in their actions. Ethics and Responsibility  Many orgs. Now incorporate ethics into the decision making process  Who is the organization responsible to? - The owners? The Public? Both? Business’Social Responsibility - To General Public – public health, recycling, corporate philanthropy (donating to the community) - To Customers – right to be safe (children toys), be informed (the harm of drugs), to choose, and be heard - To Employees – workplace safety, quality of life (pay employees enough/ good working conditions/ health benefits/ allowing them to go home periodically), equal opportunity - To Investors – to make profits in a responsible way (Bill 198 and Sarbanes- Oxley) Sarbanes-OxleyAct - Canadian version is Bill 198 nd ADM 1300 B Oct. 22 , 2013
More Less

Related notes for ADM1300

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit