Quiz 3: Organizational Ethics and Corporate Governance
1. In this case, the frame for corporate ethical is supported by the management of the company by undertaking continuous action of employees, formation of clear attitudes that are ethical in nature and training. It can be identified M was followed by the individual that act as representative of varied nations viz. Japanese, S country, NZ, their Sherpa sirdar and local porters. None of the people mentioned above have ever met in person from one another. They assume the risk, stress and danger; however it comes out to be the lifetime experience for everyone. Further they also act as representative of different mentalities and religions. Here the breakdown underlying the corporate ethic and individual is not united by the vision which is common in nation and there exist no leader that would have directed the team and their action in a different manner. Sadhu was supported by each traveler with respect to their ethical vision just to ensure that the plans made by sadhu should not be hampered. Thus it can be said that culture prevailing at the corporate somehow maintains the balance between the individual pertaining to the difference pertaining to single goal. The employees working in corporate are provided with clear messages about the corporate values on a continuous basis. Hence, it can be concluded that the employees can act in accordance with the business ethics if the organization possess a strong corporate culture. 2. In this case, stage 3 which represent fairness to the sadhu has been reasoned by M. the individual generally remain focused on fulfilling the interest of an individual underlying the stage 2 but moves in accordance with safeguarding the interest of group. Since, in the previous attempt M was suffered by pulmonary edema, therefore the accomplishment of scaling the pass becomes more important for him. He thought that leaving sadhu with P and S would help satisfy his moral obligation. Stage 5 that represent social contract was reasoned by S, however the problem of S was not solved completely. S tried to get the Japanese group lend their horse for taking sadhu to the hut after M left sadhu for the summit. S asked P to carry sadhu down with the help of group of porters. However P refused to allow the porter to keep their energy intact for the summit and should not utilize the same in the middle of the way. However still porters carried the sadhu till five hundred feet and shown him the way to reach the hut. S was further pressurized by P for not delay anymore to reach the summit. Finally S ended up at stage 3 which represent fairness to sadhu due to the pressure of the group. 3. In this case, some of the company possesses value that transcends the manager's personal values. Such value usually comes into picture when the organization is passing through some turbulence. Companies can undertake intervention, programs; processes for developing a healthy organization which help produce potential for effective leadership. Situational, transnational and transformational styles of leadership helps direct the employees for trusting their managers or leaders that help enhance the productivity. S has assumed the role of a leader and drive the people in such a manner that it will end up saving a human life. He also convinced the temporary leader S that a delay in travel is not more important than saving life of the human. He also convinced the porters to take the sadhu to the hut. 4. In this case, the life in corporate is completely different to travel in the mountain. Employees of the company are united with respect to the mission of operation of company which is common in nature. The responsibilities and tasks assigned to them are focused towards accomplishment of the goals that are being already laid down. Moreover there exist hierarchy of clear up down underlying the corporate structure which means that there exist few or one leader on the basis of quantity of professional spheres existing underlying which the company has its operation. The group of J, NZ and S country's local porters has not come across any leader that could have made effort for uniting the representation of varied nations. It also prove to be a lesion for the company's manager that how stressful and difficult situation shows the ethical background of representative of different group. In case of existence of string corporate culture having well communicated, strong willed leader, ways of problem solving and individual thoughts can be overwhelmed by the corporate values. Thus it can be concluded that everyone behaved as an individual underlying the extraordinary and stressful situation that has prevailed in the parable of sadhu.
Ethics in workplace In context of a workplace, ethics are significant parameter which impacts the result of an organization. Any successful business should possess ethical values in order to develop trust among various parties such as managers, employees, customer and other stakeholders. Outcome: Author J, in her book states that when any organization is collapsed because of ethical reasons then an organization is ethically collapsed, then the ultimate aim is only to get the desired result at any cost" means that without ethics the business does not considered satisfaction to their related parties. The thought process of the organization shifted into rational one and there is no scope to act upon improving non-financially parameters. The organization neglects the moral grounds and competes to win only. In case of fall in ethical values, the welfare towards society, relationship with suppliers and customer satisfaction are not been considered. Ethical values such as honesty in business, loyalty towards customers and employers, law abiding policies and concern for the society together makes a firm more efficient and growing.
1. The DF act was enacted for stating the weaknesses underlying the industry that deals with financial services which results in big firms such as BS and LB to collapse and become bankrupted. A whistle blower program is being developed by SEC underlying the DF act. According to this program if original information is being provided by informant voluntarily which lead to enforcement action by SEC. the informant is being awarded by SEC with 10 to 30% of the amount recovered by it. In order to qualify for the whistle blowing program, the informant is required to make sure that original information must be provided by him pertaining to the violation of the laws that were laid down by federal securities which leads to thriving enforcement action resulting in the monetary sanctions of more than one million dollars. The information provided must rely on the independent analysis or knowledge. The information provided by the informant should not exist already with the SEC. 2. In this case, the financial compilation and statement are also reviewed by the external auditor. Under compilation the auditors are required to take a look at financial statement to make sure they are free of obvious misstatement and errors. In review auditors are generally required to tie and tick numbers underlying the general ledgers. Dealing with the fraud underlying accounting is the main focus of various auditing and accounting agencies such as ACCA, IASB. External auditor must be informed about the fraud because such auditor seeks audit confirmation pertaining to certain transaction and denying such confirmation or providing false acceptance might attract scrutiny from the accounting and auditing agencies. If the fraud is being caught by such agencies then it might attract legal trials and ruin the image of the company in the market and in front of the stakeholders. 3. In this case, In order to qualify for the whistle blowing program underlying the Dodd frank act, the informant is required to make sure that original information must be provided by him pertaining to the violation of the laws that were laid down by federal securities which leads to thriving enforcement action resulting in the monetary sanctions of more than one million dollars. As suggested if all the requirements are met then the information about the alleged transaction or fraud must be provided to the SEC so that the interest of the stakeholders can be safeguarded against such fraud and the faith of the public and investor can be kept intact. Thus it can be concluded that soon the information is provided to the concerned authority, better it will be for the financial health of the company and people associated with it.