The firms and companies have a duty to protect their employees and provide safe work environment conditions for them so that all employees are always treated equitably and satisfactorily. If any allegations of misconduct are proven right, all board members should be forced to resign and take responsibility for their ineptness.
Social Responsibility A key part of ethical responsible business is finding ways to minimize any negative social impacts along the entire supply chain of your operations. Business fair play is an important aspect of ensuring healthy and profitable competition among business people.
FTC is charged with taking complaints about false business promises that turn out fraudulent, or cause harmful side effects to the consumers and forwarding them to investigation agencies for further action Federal Trade Commission, All corporations that breach conduct on ethics should be nationalized in order to safeguard the interests of the public.
To the government, corporations are supposed to ensure tax compliance and safety of production to citizens and environment. Companies with a sound ethical background will go to extents to ensure consumer safety, business fair play and ensuring that employees who served diligently go home safe to retirement.
Summary of the Major Laws of the Department of Labor. There have been lists each year of companies that should be shunned for disregard of ethics. It is not just an issue for the employees alone because it affects all American citizens, and per the house committee on education report.
The government through the law has set up different commissions to ensure that these obligations are duly followed example of one is the Federal Trade Commission FTC. General Electric, a company that was founded by Thomas Edison, has on many occasions received accused on several occasions of trying to monopolize the inventions by him.
The Times Magazine talks about the top executives who enjoyed lots of privileges that even top CEOs envied. These statements should be audited by government agencies for any lies.
It is their responsibility to investigate the validity of the reports and come up with disciplinary measures if need be Hanson, The operation on the stock exchange while on a negative financial record and receiving probably more than their fair share of investments.
In the Film Enron: Among other key ethical issues that had arisen in the past included racial profiling, product safety concerns, employee rights infringement and even environmental degradation. Companies and corporations that evade taxation of any kind should be imposed with huge fines.
On an opinion proposed from the Financial Times magazine, the graph of performance shows that the downfall was carefully planned. Workplace and Community Responsibility Your own operations and those of your supply chain should adhere to high standards in the workplace, and in the surrounding community.
Under sections 7 and 8 of the National Labor Relations Act of the Federal constitution, employees are granted rights to make a join and take part in labor union activities. Companies and corporations, under the federal law, have a duty to their employees, consumers, the government and the environment in which they operate.
Consider sponsoring community activities or contributing to local causes.May 14, · But with each passing scandal, new rules and codes emerge that surpass those of the past.
And while Enron won't be the last case of corporate malfeasance, its tumultuous tale did initiate a new age in business ethics. Enron, once a sleepy natural gas pipeline company, grew to become the nation's seventh largest publicly-held corporation.
Related Documents: Enron's Business Ethics Failure Essays business research ethics Essay Ethics and compliance program, corporate citizenship and responsibility, culture of ethics, governance, leadership, innovation and reputation are the scoring and methodology system put in place by Ethisphere; “the global leader in defining and.
Not only was corporate responsibility practiced outdoors, internally as well, Enron empowered its employees to communicate openly and add to the growth and success of Enron. Enron had divested business operations, its core being in the Energy industry whilst it also entered the financial products markets, derivatives, in particular.
Ethical Responsibilities of Corporations; Enron’s Downfall. Introduction Enron, in the ’s was a premium company that had the much-coveted global stature that most company heads desire. It is considered the most innovative company in.
Enron: How Leadership Led to the Downfall of the Company. Introduction Enron filed for bankruptcy in November and this led to a series of enquires and court cases that improper trade practices, accounting frauds, corporate culture and ethics in general (Peppas, ).
The. Downfall Of Major Corporations.
Length: words ( double-spaced pages In this report I will be talking about how businesses choose the road to greed instead of choosing the ethical road. Some of the largest companies in the world fell to this type of Indian Multinational Corporations and Corporate Social Responsibilities Essay.Download