Jul 22, 2017 Research papers

how to reform corporate ethics in American business today

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Memorandum to the Governor of California

INSTRUCTIONS:

write a memorandum to a decision-maker, such as the president of the United States, a member of Congress, a chairperson of the SEC, or a state Governor, on how to reform corporate ethics in American business today. As we have seen, legislation such as Sarbanes-Oxley has received considerable media attention, but has not prevented significant catastrophes such as the global economic meltdown of 2008. You should be prepared to propose policies that might help to ameliorate or to prevent corporate ethics lapses that might occur in the future. You have the freedom to select any policy avenues that you think might help to strengthen and fortify corporate ethics. Your memo should do the following: Set forth why your chosen policy pathway is important Compare it to and contrast it with the policy it replaces Articulate your ideas on how to remedy the issue of corporate malfeasance Proffer some recommendations to the decision-maker about how to improve overall corporate governance Please note that your prescription for change is not nearly as important as your ability to forecast potential challenges to the corporate boardroom and to predict possible ways the government could intervene to assist not only solid corporate governance, but also the interests of individual shareholders. It is recommended that you suggest at least two methods and/or policy proposals that critically address the public policy concern. Bring in facts and other data to support the policy issue addressed and make sure each fact is cited to the relevant authority. Demonstrate critical thinking by analyzing, evaluating and interpreting appropriate policy to provide original perspectives to enhance corporate legal and ethical environs. You are expected to convey complex ideas in a clear, concise and organized fashion, using the required and recommended readings from the course for analytical support. Although you are encouraged to cite from your textbook, you are required to cite a minimum of four scholarly sources beyond the textbook to support your statements.

CONTENT:
Memorandum to the Governor of CaliforniaStudent:Professor:Course title:Date:MEMORANDUMDATE: 27 July, 2014TO: Jerry Brown, The Governor of CaliforniaFROM: Joy AdamsonSUBJECT: Policies to Remedy the Issue of Corporate MalfeasanceEthical misconduct disasters comprise serious expensive risks not only to continuity, but also to the survival of a company. Headlines seen regularly indicate that breakdowns in integrity together cost business enterprises billions of dollars in legal action, increased costs, fraudulent fiscal acts, image and reputation damage, fines, lost sales and recovery costs, client/customer trust, and potentially land top managers in jail. There is no business enterprise that is impervious to these threats (Brennan, 2012). Prudent business managers should plan to manage integrity continuity through evaluating their susceptibility to ethical catastrophe, taking hands-on measures, and preparing their business enterprises to mitigate and survive whenever such scandals break. The purpose of this memo is to give explanation on how to reform corporate ethics in American companies at present. Two policies are proposed that might help in ameliorating or in preventing corporate ethics lapses that might happen in the future. The proposed policies are compared and contrasted with those they replace, and ideas are articulated on how to remedy the issue of corporate malfeasance. Moreover, recommendations are provided in this memorandum about how to improve overall corporate governance. In addition, the potential challenges to the change are forecasted and described in this memo along with how the government could intervene to help both solid corporate governance and the interests of individual shareholders. Policy proposal 1: Ethics is Everyone’s Business PolicyAs per this proposed policy – Ethics is Everyone’s Business – ethics in any company and business organization is everyone’s business in the organization and everyone is accountable and responsible for the reports that the company provides to the public and to the government. What this implies is simply that the policy would hold not only an organization’s senior executives liable for ethical misconduct, but also middle-level and junior staffs. The policy will go down into a company and get the company’s lower level staff members – those who are often ordered by their seniors to hide some crucial financial information or to perform some unscrupulous, unethical acts in the organization. In essence, this policy will necessitate middle-level and lower-level staffs to swear to the legitimacy and accuracy of the information which they provide thus remedying the issue of corporate malfeasance where company senior managers force their junior staffs to hide or obscure some required information. It will also necessitate them to sign a document which states that their seniors or anyone has not compelled, threatened or otherwise instructed them to o...


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