THE BYSTANDER

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EXAMPLES OF MANAGERS WHO DEMONSTRATED ETHICAL BEHAVIOR.

In every industry, a code of conduct is important for managers, as a workforce can not move forward without integrity from its leaders. The best managers place a high value on fairness and ethics, and their own performance as well. Not only do managers who create their own code of conduct benefit their workers, but they also often benefit the entire company’s public image ( Amico, n.d). This statement from the website Chron is crucial. It is easy to make rules and expectations but as a manager and leader you too must adhere to those guidelines as well. The leader sets the tone for the workforce that is why it is so important that they “Walk the Talk”. If the manager does not follow the code of conduct or show ethical behavior, then many will think why should I? Good managers are leaders and they need to set the example because workers are watching and learning from their actions. If a leader chooses to ignore some rules, then it can be expected that employees who see that behavior...

Encouraging ethical behavior other than legally

Conflicts of interest In any endeavor involving more than one person, there will be conflicts of interest. In the Enron case, these conflicts included: Individual vs. corporate goals (for example, Enron leadership’s self-interest vs. the interest of its shareholders) Enron vs. Arthur Andersen auditors Arthur Andersen auditors vs. Accenture consulting Investors vs. Arthur Andersen auditors Avoiding the conflicts I don’t believe “avoid” is the right word. That word implies that conflict is eliminated. But there are always competing interests in any exchange. Therefore, I believe the better course of action is to recognize and acknowledge that the conflicts exist – and then to try to create structures and environments that reduce their effect. Further, “what could have been done” depends, to a large extent, on who is being asked to do something. Obviously, Enron senior leadership could have decided not to engage in the off-balance-shee...

Conflict of Interest Between Enron and Arthur Anderson

This paper discusses and analyzes the relationship and conflict of interest between Arthur Andersen LLP, a fast-growing accounting and financial audit company in the United States, and its client Enron, an American energy company, with incorrect financial reports, then will provide some recommendations that could avoid the conflict of interest. Discussion Arthur Andersen LLP established in 1913 by Arthur Andersen, was one of the largest audit firms in the world, Andersen was one of the fastest-growing and most profitable auditing units and consulting networks in the world in 1984. Arthur Andersen and its largest client in the business faces a serious integrity issue that could have avoided if the conflict of interest in their areas of business was properly addressed. The issue starts when it was revealed that Enron ‘s financial statements report which was audited by Arthur Andersen contained some incorrect financial information. Andersen was considered responsible for auditing the Enro...

What could have been done to avoid the conflicts of interest you identified?

The conflict of interest between the two roles played by Arthur Andersen, as auditor but also as consultant to Enron; the lack of attention shown by members of the Enron board of directors to the off-books financial entities with which Enron did business; and the lack of truthfulness by management about the health of the company and its business operations. In some ways, the culture of Enron was the primary cause of the collapse. The senior executives believed Enron had to be the best at everything it did and that they had to protect their reputations and their compensation as the most successful executives in the U.S. When some of their business and trading ventures began to perform poorly, they tried to cover up their own failures. Greed and a lack of fundamental ethical values drove a potentially successful company into the ground. Had the executives of the corporation instilled values into their corporate culture that reflected dealings with them and others in a value driven and et...

Does the value of a parcel of land come only from the profits it can generate? If not, what makes land valuable? Does it ever have any value that is not recognized by the law?

Patent ownership is essential because the owner of the patent or investor own all the right, title and interests granted by the patent. Almost all countries of the world have the patent system based on the “First-to-File” doctrine, in which the patent is granted to the inventor who is the first to file a patent application, regardless of the invention date. In the United States, Canada, and Philippines, the patent system was based on “First-to-Invest” doctrine, in which the inventor who first conceived of an invention then diligently reduced it to practice by filing a patent application, is considered the first inventor and is entitled to patent protection (General Patent, 2007). Later on Canada and the United States also changed their patent system from First-to-Invest to First-to-File system, because the First-to-Invest system was costly with long interference procedures in order to determine which investor conceived of the invention first. ...

If you found a one-of-a-kind prototype of a revolutionary new mobile phone lying on a public bench, what would you do with it? What would be the consequences of your chosen action?

The paper describes the patent ownership, the countries law and regulations on the ownership of properties and inventions. Then will provide answers to the three questions required in the discussion assignment unit six. Patent ownership is essential because the owner of the patent or investor own all the right, title and interests granted by the patent. Almost all countries of the world have the patent system based on the “First-to-File” doctrine, in which the patent is granted to the inventor who is the first to file a patent application, regardless of the invention date. In the United States, Canada, and Philippines, the patent system was based on “First-to-Invest” doctrine, in which the the inventor who first conceived of an invention then diligently reduced it to practice by filing a patent application, is considered the first inventor and is entitled to patent protection (General Patent, 2007). Later on Canada and United States also changed their patent system from First-to-Inve...

How Insider Trading impacts the whole system

Many people presume that insider trading is always illegal. The term has been associated with scandals and names such as Enron, celebrity businesswoman Martha Stewart, and former Goldman Sachs director Rajat Gupta (Tang, 2017). Legal insider trading happens when directors of the company purchase or sell shares, but they disclose their transactions legally. However, the term “insider trading" is mostly used to describe a practice in which an insider party trades based on non-public material information gained through the performance of the insider’s obligation at the company, in violation of other relationships of faith and assurance or otherwise when the non-public information was stolen from the company. In other words, insider trading is buying, selling or dealing in securities, bonds, and stocks of a company by a director, manager, or employee of the company who has confidential information that is not accessible to the public (LawTeacher, n.d.). There are a variety of ways tha...