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United States: 13 Feb 2002: Cable television: Internal corruption. The Directors were sentenced to prison. [8] [10] Arthur Andersen: United States: 15 June 2002: Accounting: A US court convicted Andersen of obstruction of justice by shredding documents relating to the Enron scandal. WorldCom: United States: 21 July 2002: Telecomms
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]
Ethics violations, safety issues, security issues, a lack of sustainability, poor quality, and lack of or unethical innovation can all cause reputational damage if they become known. [ 2 ] Reputational damage can result from an adverse or potentially criminal event, regardless of whether the company is directly responsible for said event (as ...
Starbucks was sued for marketing its commitment to “100% ethical” sourcing while using some suppliers with “documented, severe human rights and labor abuses.”
The growth of fast fashion fueled environmental issues. Fast fashion's meteoric rise is apparent in retail giants like Shein and Uniqlo, which both saw more than 20% revenue growth between 2022 ...
a written code of ethics and standards (ethical code) ethics training for executives, managers, and employees; the availability of ethical situational advice (i.e. advice lines or offices) confidential reporting systems [6] Organizations are constantly striving for a better ethical atmosphere within the business climate and culture.
Ethical codes are adopted by organizations to assist members in understanding the difference between right and wrong and in applying that understanding to their decisions. An ethical code generally implies documents at three levels: codes of business ethics , codes of conduct for employees, and codes of professional practice.
An Enron manual of ethics from July 2000, about a year before the company collapsed. Enron's complex financial statements were confusing to shareholders and analysts. [1]: 6 [10] When speculative business ventures proved disastrous, it used unethical practices to use accounting limitations to misrepresent earnings and modify the balance sheet to indicate favorable performance.