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Lecture 11

MGSC14H3 Lecture Notes - Lecture 11: Bes, United States Department Of Justice, Fiduciary

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Siemens Bribery Scandal
Use of bribes to gain advantage
Siemens had millions in slush funds to bribe foreign officials
Used the accounting system to mask these activities
After several fines, they failed to adhere to fiduciary duties
Corp culture to be reformed to prevent misconduct
Ethical Principles
Teleology - ethical decision is the ones that provides the benefit of all parties
Benefitted both parties
Consequentialism/ Utilitarianism
Value to greater number, others suffer
Company offering bribe wasn’t the first choice, but by using bribes , pushing towards
partnership that gives short term benefit
Stakeholders harmed, net good not maximized
Deontology - ethically correct behaviour based on the motivation of the decision make
Misguided sense of duty
Based on moral code, virtuous, free od deception
Carried out actions not consistent w, stakeholders
Kant Categorical Imperative
Act in a way in which you would want everyone to act
Not consistently universal
Not acting in goodwill
Illegal ,
Virtue Ethics - measure of moral character
Key virtue is integrity
Honest & upstanding
Lack of moral code
Misguided employees to believe it was right
Aristotle - virtuous
Discussion: German economy thrived on bribery, would you not offer bribes if your business
was going to be affected adversely?
Intent on growing the company
Ignorance to changes by accounting
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