Assignment: Defining Ethics

Assignment Objective–The goal is to provide an assignment that will allow the student and instructor to explore various situations in the business environment related to ethics. Through answering the assigned questions along with discussion in class, the student should develop a good understanding of the role of ethics in the business environment.

1. Define ethics–Include the reference for your definition.

2. (a) What is insider trading? (b) In your opinion, is it ethical? explain (c) Is it legal?
explain

3. (a) What caused Enron’s collapse? (b) Did management act in an ethical manner?
(c) Were there any potential(or real) ethical issues related to Arthur Andersen’s role
as Enron’s auditor and another part of Andersen providing Information
Technology Consulting?

4. (a) What accounting practice/standard/rule was not followed at WorldCom? (b) An
employee in the accounting organization warned management of the implications/
dangers of not following appropriate accounting standards. He was fired. Was it
ethical, in your opinion, to fire the employee? Explain your thoughts/answer.

5. Some companies have “Codes or Standards of Conduct” which are published and
employees are expected to abide by the standards in conducting company business.
The objective is to protect both the company and the individual. A private phone
number along with a promise of anonymity is provided. Employees are given the
opportunity to call the number if they feel they are asked to do something contrary to
the “code” or are convinced someone else might be. (a) Is this private number an
ethical procedure on the part of the company? please explain your answer.
(b) Would it be ethical for you to call the number if you were found in a situation
that warranted a call? What if it were your boss that you were concerned
about—how would you handle the situation??

6. During the recent financial crisis related to housing/loans/various financial instruments,
it was found that individuals were provided a low, introductory interest rate that would
reset at a much higher rate in a future period. (a) Was it ethical to provide a loan to an
individual when it was unlikely they would be unable to continue paying after the
interest rate increased? please explain. (b) Was it ethical for an individual to take the
loan if in their mind it was highly likely that they would not be able to pay the loan
when the rate increased? please explain.

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