Corporate ethics: Responsibility
A couple of weeks ago, I've watched a movie called "Spider-man?with my family. Displaying a lot of special effects along with high-tech computer graphics, this movie was very exciting and entertaining. In addition to the thrilling action and amusement, there was a quote from the movie that made it even more interesting. "With great strength comes great responsibility? This quote is true for any society that has a hierarchy of power: especially in the world of business. The top executives, who possess great power and wealth, have great responsibility in each deed that they make. They represent the business world of America and must set high and clear expectations of conduct. However, a few of the leaders in business have not performed their duty and full responsibility. There were CEOs earning tens of millions of dollars in by stock options just before their companies went bankrupt, leaving workers and investors to suffer. Responsible CEOs do not compromise to greed by unethical means. What would have happened if Spider-man wasn't committed and didn't take responsibility? What would have happened if he used his great strength for personal gains? Would anybody be safe? What would happen to the economy and society when there is no co
As opposed to stocks, stock options can make a profit of almost 300%. Executives who can make decisions about the company's future have a real incentive to make the stock price more volatile. Sentencing Commission to extend the prison time for frauds committed by top executives and directors. When a pathogen is discovered it must be removed to prevent further relapses or aggravation. There is a saying in Korea, "garner mote, mountain formed? which is analogous to the role of small investors to the economy. This would prevent any unethical profit gaining and would secure many shareholders?money in the long-term. Many people were unwilling to take risks and stock prices fluctuated a great deal. Second, the corporate accounting must be more transparent to the investors so they would have a better view of the financing of publicly traded companies. This huge desperation and collapse of the corporation originated from the mismanagement of the former WorldCom CFO (chief financial officer), Scott Sullivan. More than 80 million Americans venture in purchasing stock and the vast majority are novices. The public were beginning to have doubts on investing, the energy industry tried to improve its image and start more intense regulation by creating its own codes of conduct. But ethics involves more than knowing what is right and wrong. President Bush called upon the SEC to enforce policies so that the auditors will be independent and not be compromised by any selfish gains.
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Acceptance Essays
