Even after his death, Jackson became a commodity that is sold and manipulated to sway the public. According to the New York Daily News, more than “31 million people” viewed the event, making it the “second most-watched daytime funeral”. In reality, the funeral is part of a bigger business plan. According to Doughty, the funeral business and the processes, although it is supposed to be a intimate experience of the family, is very impersonal. Publicizing Jackson’s funeral automatically takes away the intimate experience that his family should have while going through the mourning process.
In this case,the first thing Silver should do is to speak to his boss Howard Stressler to have a good explanation and to talk about the ability of the three candiadate in his list. The boss may not know about these people,their skills,what they are capable of,and what they can do for the company based on their experience and knowledge. If a talent employee leave the company to join another company,the employee may not want to join the orginal company even the company give many good offer for their
In the assigned lecture, Dr. Parnell defines agency problem as “a situation in which a firm’s managers, the agents of the owners, fail to act in the interest of the shareholders” (2016). The managers failed to act in the best interest of the shareholders by withholding any communication of the fraudulent behavior, since they did not report any suspicions to upper executives. This behavior could have been prevented if Wells Fargo managers created a harmonious work culture that did not value numbers over
In the first place, nowadays we know that the audit firm was heavily conflicted on some client accounts, receiving millions of dollars in fees in return for the compilation of better audit reports. In addition to this, the management of the audit firm was more focused on the generation of revenue rather than on the quality and independence of their audit work. Another flaw in Arthur Andersen’s governance procedures was the fact that the executives did not manage to control and address the behaviour of internal lawyers and senior audit partners, who showed signs of misconduct and failed to abide by professional and ethical matters. Another mistake that the audit firm made was that when faced with suspicious manoeuvres within some financial statements, no further actions and investigations took place, giving rise to further wrongdoings. Furthermore, some partners of the audit firm were allowed to claim superiority over specialists and auditors, leading to conflicts of interest.
According to the Ferrell, Fraedrich and Ferrell (2015)text, ethical issues in a business setting only arises, when an employee decides to exercise their own ethical beliefs in order to accomplish a goal within the business. In this case, there were several behaviors that were not ethical. ARC had a great deal of trust in its staff. They failed to exercise their right to conduct background checks on employees and volunteers. Therefore, employees and volunteers were using donations to suit their own needs instead of providing for the victims of disasters.
(Vanessa paige, C., 2017). 3) RATIONALIZATION- Person believe that it is justified to commit the fraud. It could be due to job dissatisfaction, poor working environment. The person usually does not think about the consequence of their action.
The first is the fact the Enron and its board of directors created a corporate culture that inspires innovation and creativity while totally ignored Ethics. It was not in the board of directors nor the corporate management top priorities, so how it would be for those who report and commit day to day transactions. The absence of a corporate culture that motivates transparency, integrity and courage to report was a major cause of Enron’s Scandal. For example, Enron hired several accountants who understood the accounting loopholes. They helped the company to maximize on the loopholes in the Generally Accepted Accounting Principles (GAAP).
Managers in organizations have traditionally viewed empathy with suspicion, thinking that there is no place for soft emotional skills in the tough world of business. Literature has shown that managers worry that employees will take advantage of them if they show any empathy. But changing times and recognition of the strategic advantages of taking employees feelings into consideration has lead to social consciousness being regarded as a critical skill for effective managers. This has even impacted the training given to doctors. Today doctors are trained to formulate a bio-psycho-social understanding of the problem rather than treating patients purely as a diagnosis.
The managers attributed to the company as the shareholders of Enron didn’t realize the matter from superficial high stock price. Thus, the whole company was not responsible for the scandal. The board and the other shareholders paid lots of attention to the decisions made by the CEO’s, CFO’s and the relevant staffs as Enron avoided this results (Software Engineering Institute,
Introduction Ever business organization needs to keep detailed financial records to maximize their chances of success. If a company cannot make payroll or pay its expenses it will fail. Much has been made of nonprofits behaving more like for profit organizations in the recent past; however, in accounting, the nonprofits financial records cannot and should not be like most for profit businesses. The chart of accounts is the critical first step in a nonprofit’s accounting system (Scarano, 2016). This paper will look at the purpose of a part of the nonprofit accounting system, the chart of accounts, focusing on the purpose, importance, use, and audience.
The newly appointed CEO named Kathryn states that “trust is the foundation of real teamwork.” The company fails to understand that a lack of communication among fellow team members is a direct cause to the company not being successful. Not being able to be vulnerable among fellow team members is problematic. In order to be successful in a business there needs to be an understanding that team members can push you in order to reap the benefits of a more balanced team. As a result, invulnerability among team members leads to an artificial unity among the group.
Last summer, the Delaware Supreme Court held that a lawsuit challenging an acquisition by a controlling shareholder seeking monetary damages against corporate fiduciaries must plead a non-exculpated claim against disinterested, independent directors to survive a motion to dismiss. The Court’s decision resolved two separate consolidated appeals by directors of Cornerstone Therapeutics, Inc. and Zhongpin, Inc. In each case, the Delaware Chancery Court denied the independent directors' motions to dismiss, analyzing that if the underlying transaction is subject to the “entire fairness” standard of review, all of the directors must remain defendants until the end of the litigation, regardless of any exculpatory language contained in the companies’ charter provisions.. In reversing on appeal, the Delaware Supreme Court held:
Unjust enrichment is a legal concept which refers to the concept in which one person is enriched at the expense of another where one person is determined by law to have been treated unjustly. When an enrichment is deemed unjust, the law imposes an obligation upon the recipient to make restitution, subject to defenses such as change of position. Liability for an unjust (or unjustified) enrichment can only come when the recipient is benefiting from the enricher’s detriment. The concept of unjust enrichment can be traced back to Roman law, saying "no one should be benefited at another's expense.” The law of unjust enrichment often is closely related to, while not coexistent with the law of restitution.