Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Ethics and Social Responsibility
Companies, like people, are bound by ethical requirements -- a responsibility to consumers and customers. Companies are expected to do follow up on the promises of their advertisers. All companies make ethical declarations as part of their vision and operational philosophy, but quite a few to do little to live up these declarations. Recently, Enron's bankruptcy has brought to light some actions that appear to be at least unethical, if not actually illegal. The effect of the Enron fallout has affected not only the employees of Enron but also the shareholders and many of its offshore plants around the world (India).
Foreign Corrupt Practices Act (FCPA) was enacted in 1977. An investigation by the Securities and Exchange Commission (SEC) in the mid-1970's showed that over 400 U.S. companies admitted to making questionable or illegal payments in excess of $300 million to foreign government officials, politicians, and political parties. Congress enacted the FCPA to bring a halt to the bribery of foreign officials and to restore public confidence in the integrity of the American business system. The act was bipartite: (1) a prohibition on bribery to any foreign officials, political parties...
businesses were making large payments to foreign officials to secure business and the involvement of the companies in local corruption issues.
Most companies define their ethical principles as: honesty, integrity, responsibility, trust, and respecting of the laws in the country where they operate. Violations of the FCPA laws can lead to severe civil and criminal penalties and can disqualify a company from participating in Government programs. The penalties for the violation can be both monetary fines and imprisonment. There are also various other offences such as: money laundering, which is an offense that violates the Racketeer Influenced and Corrupt Organization Act (RICO), which may provide the basis for further criminal charges.
There are many organized crime agencies in Asia and many of them have strong links to the business communities operating in the region: for example, the…
Bibliography
1. "Understanding and Complying With The U.S. Foreign Corrupt Practices Act"
1999.) Extracted from Website: http://www.coudert.com/practice/fcpa2.htm
2. "The Yakuza influence on Lockheed Martin" (2001). Extracted from Website: http://www.crimelibrary.com/gangsters3/yakuza/3.htm
3. Booth, M. (2000). "The Dragon Syndicates: History of the Chinese Triads," Carol & Graff Publishers, New York.
5. Foreign Corrupt Practices Act Anti-bribery Last Updated: March 15, 2002 http://www.usdoj.gov/criminal/fraud/fcpa/dojdocb.htm
Ethics Social Responsibility and Ethics Evaluate Company Q's current attitude toward social responsibility. Company Q. has a negative attitude towards social responsibility. This is because it believes that there is the potential for fraud and losses. In this situation, the management feels they must proceed with caution. This is from a perception about these programs not producing any measurable results in comparison with their costs. Over the course of time, this will more
Ethics, Values, Social Responsibility Bailout of Banking Industry in United States Ethical Compliance by Banking Industry It is quite common in American history that government comes for the rescue of companies and organization in the time of financial crisis. General motors' acquisition was one such example where saving GM meant saving the nation. When Government takes measure for the welfare of any segment of the economy, it then becomes responsibility of the organizations
There is a good case to be made for focusing on externalities and seeking to manage all of them in a social responsible manner, especially as the world becomes globalized and the key success drivers become relationships and information. Works Cited: Mintzberg, H. (1994). The rise and fall of strategic planning. Harvard Business Review. Retrieved May 16, 2010 from http://online.worcester.edu/external/evescio/Principles%20of%20Management/strategicplan.pdf Friedman, M. (1971). The social responsibility of business is to increase its
Social responsibility is subject of considerable debate. For not-for-profit organizations, their responsibility is defined by their mandate. Their donors set this mandate, or at least they accept it. It is actually not much different in for-profit entities, except that the general perception is that earning profit is not socially responsible, whereas the activities of not-for-profit entities are generally considered to be socially responsible. For a for-profit entity, there are two schools
Social Responsibility Corporate social responsibility Companies are facing increasing pressure from investors, consumers, and the society. For investors, they are required to increase profits while consumers and the society require them to be socially responsible. Scholars have studied corporate social responsibility for years and over the years, they have documented their findings concerning social responsibilities of corporations. Over the years, consumers have built the typology of unresponsive to highly responsive purchasing in
Social Responsibility Types of people who live in the community in regards to the overall type of individuals who live within the community, the demographics vary considerable. However, the underlying values and principles that govern the population remain relatively homogenous. For one, many of the individuals on the base are military oriented or have some affiliation with the principles embedded within the military. The virtues of honor, respect, integrity and so