Scribd Logo
Upload

Welcome to Scribd!

  • 15 views

    Muñoz - FOLDER - First Graded Activity (11 - 22 - 23)

    Uploaded by

    Alexa Faith Muñoz
    The document discusses the role of ethics in business and uses the Enron case as an example. Enron engaged in fraudulent accounting practices and misleading financial reporting, which ultimately led to its collapse. The case highlighted the importance of ethics and corporate governance in upholding transparency and accountability.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Muñoz - FOLDER - First Graded Activity (11 - 22 - 23)

    Uploaded by

    Alexa Faith Muñoz
    15 views4 pages
    The document discusses the role of ethics in business and uses the Enron case as an example. Enron engaged in fraudulent accounting practices and misleading financial reporting, which ultimately led to its collapse. The case highlighted the importance of ethics and corporate governance in upholding transparency and accountability.

    Original Description:

    Five cases about Corporate Social Responsibility

    Original Title

    Muñoz - FOLDER_ First Graded Activity(11_22_23)

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses the role of ethics in business and uses the Enron case as an example. Enron engaged in fraudulent accounting practices and misleading financial reporting, which ultimately led to its collapse. The case highlighted the importance of ethics and corporate governance in upholding transparency and accountability.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    15 views4 pages

    Muñoz - FOLDER - First Graded Activity (11 - 22 - 23)

    Uploaded by

    Alexa Faith Muñoz
    The document discusses the role of ethics in business and uses the Enron case as an example. Enron engaged in fraudulent accounting practices and misleading financial reporting, which ultimately led to its collapse. The case highlighted the importance of ethics and corporate governance in upholding transparency and accountability.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 4

    1. Write a brief discussion on the Role of Ethics in the Corporate World.

    What do
    you think why ENRON CASE is an outright model of the topic?

    In the corporate world, ethics play a critical role in upholding


    sustainability, integrity, and trust in business operations. In addition to being
    morally required, ethical business practices are crucial for sustained success.
    It entails reaching judgments that are equitable, open, and respectful of
    different stakeholders, including as workers, clients, investors, and the general
    public. The case of Enron, which surfaced in the early 2000s, is a prime
    illustration of corporate misconduct and the disastrous effects that unethical
    actions may have. Once a well-known energy corporation, Enron fell subject to
    extensive accounting fraud and unscrupulous business practices. Enron used
    fraudulent accounting practices to hide its actual financial situation. To
    conceal debt and increase profits artificially, the corporation established
    off-balance-sheet subsidiaries. This contributed to a lack of accountability
    and transparency in addition to misleading investors. The board of directors
    of Enron did not perform its supervision duties effectively. The audit
    committee did not successfully question the company's financial practices,
    and board members lacked independence. Unethical activity was able to
    continue undetected due to this corporate governance deficiency.

    2. On the slide #3, explain very well the statement below.

    It draws attention to how seemingly straightforward business issues


    may be. Certain problems can seem like simple problems with easy answers
    at first glance. But a deeper look uncovers underlying complexity that make
    them complex and difficult to solve. Business problems are rarely isolated and
    usually involve a number of different components. A single issue may have
    connections to multiple facets of the company, including operations, finance,
    human resources, legal issues, and dynamics of the external market.
    Unintended repercussions could result from straightforward answers to
    business challenges. Over time, what seems like a workable answer now
    could pose new problems or make the ones that already exist worse. The
    statement emphasizes how important it is to approach business issues with a
    nuanced and thorough perspective. Effective decision-making and
    problem-solving require a greater grasp of the complex nature of business
    dynamics, the interdependence of different aspects, and the larger business
    environment, even though some challenges may appear simple at first.

    3. Be able to cite hypothetical example on how Conflict of Interest becomes the


    source of unethical behaviour in an organization.

    Imagine a pharmaceutical company, MedHealth Pharma, that is


    engaged in developing a groundbreaking drug to treat a rare medical
    condition. Dr. Loey, a lead researcher at MedHealth Pharma, is actively
    involved in the drug development process and holds a significant role in the
    company's success. The Conflict of Interest: Unbeknownst to MedHealth
    Pharma, Dr. Loey also has a personal financial interest in a competing
    pharmaceutical company, RivalCure Pharmaceuticals. She holds stocks and
    has a side consulting agreement with RivalCure.

    Unethical Behavior:
    Data manipulation: Due to her connections to RivalCure, Dr. Loey may conceal
    or alter important information about the efficacy or safety of MedHealth
    Pharma's medication, giving the impression that it is less effective than it is.
    Intentional Postponements: Dr. Loey may have purposefully delayed the
    regulatory approval of MedHealth Pharma's medication or the fulfillment of
    research milestones in order to undermine MedHealth's competitive position,
    given his knowledge of the possible financial benefit from RivalCure's
    success.
    Leakage of Confidential Information: RivalCure may receive an unfair
    advantage if Dr. Leoy purposefully or unintentionally provides them with
    confidential information about MedHealth Pharma's drug development
    process.
    4. On slide #6, why do you think the Philippines is not included? Cite
    reasons/justification.
    The Philippines has historically struggled with corruption, and the
    fallout from previous scandals can have a long-lasting effect on public opinion
    of the nation. Corruption can be exacerbated by flaws in the judicial system
    and law enforcement, among other governance institutions. Our capacity to
    effectively combat corruption may be hampered by a lack of independence,
    insufficient funding, or inadequate training. Political dynasties and patronage
    systems, in which fidelity to political leaders is rewarded with positions and
    perks, have a long history in the Philippines. This system has the potential to
    promote a culture of nepotism and favoritism, which would encourage
    corruption. Corruption may be exacerbated by a lack of accountability
    systems and insufficient transparency in government operations.
    Furthermore, low risk of detection and punishment for corrupt offenses
    is one of reasons why corruption is rampant in the Philippines. The Marcoses
    are the prime illustration of this. The judicial and legal systems were mostly
    under the grip of the Marcos administration. The regime's loyalty determined
    the appointment of judges and prosecutors, undermining their independence.
    Because of its lack of autonomy, the legal system found it challenging to fairly
    combat corruption. In the Philippines, the Marcoses' political power remained.
    It's possible that their political ties affected or slowed down the court case's
    development, leading to its dismissal.

    5. Discuss the diagram on slide #7.


    The interrelationships among religion, culture, law, and philosophy give
    rise to a complex and ever-changing environment in which business ethics
    function. When taken as a whole, these resources aid in the formation of
    moral standards and direct business decision-making. It is imperative that
    organizations exercise caution when navigating and integrating various
    sources in order to cultivate a robust ethical culture.
    Many ethical principles in business are influenced by religious beliefs.
    Different religions may have specific moral codes and ethical guidelines that
    impact business practices. For example, honesty, integrity, and fairness are
    often emphasized across various religious traditions. Culture plays a
    significant role in shaping the values and norms within a society, and these, in
    turn, influence business ethics. Cultural factors can include societal
    expectations, attitudes toward competition, and the importance placed on
    relationships in business transactions. Philosophical perspectives contribute
    to the theoretical underpinnings of business ethics. Different ethical theories,
    such as utilitarianism, deontology, and virtue ethics, offer diverse perspectives
    on what constitutes ethical behavior in business. Legal frameworks provide a
    foundational structure for business ethics. Laws set the minimum standards
    for acceptable behavior and often reflect societal values. However, ethics in
    business can go beyond legal compliance, aiming for practices that are not
    just lawful but also morally right.

    You might also like