Transcript: Ethical Public Relations and Transparency in a Social Media Atmosphere Reviews on Amazon, Zappos, TripAdvisor Do you believe them? Do you think they are "fake?" Spectrum: Okay to post because a company is giving you incentives (Royal Caribbean) Okay to post a good review for your own book on Amazon? (Professor) More okay to post to help a friend? Or a family member who is say starting their own hotel? Illegal or just unethical? The Five Deadly Sins Deadly Sins of Social Media Improper Anonymity in Your Day-to-Day Life All you need to do is tie your shoes? Consumer Expectations (?) Deadly Sins of Social Media Verizon's fiOS If there is a harm, What is it? Aiten Musaeva and Allison Will Wal-Mart's Jim and Laura Unreported endorsements Improper anonymity Compromising Consumer Privacy Overly Enthusiastic Employees Using the Online Community to Get Free Work Were you fooled? Improper Anonymity and Whole Foods Consumer Expectations (?) http://www.nbcnews.com/id/21134540/vp/19718808#19718808 Improper Anonymity in Your Day-to-Day Life Is there something special about the internet that creates a different kind of harm?
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Transcript: INTRO Business Ethics Violation Presentation By: Elizabeth Heine A&F The Unethical Business Practices of Abercrombie & Fitch. The Start The Start of A&F -Abercrombie & Fitch began in 1892 with David Abercrombie and Ezra Fitch -Successful business for 85 years -1988 Mike Jeffries purchased the brand and reformed it into a youth retail store -In 2017 Fran Horwitz assumed position of C.E.O A&F Today A&F Today Current Company Goals: Revenue -Providing high-quality products -Representing American attitude and the essence of California summer for teen clothing. $3.5 Billion SweatShops Use of SweatShops -A&F utilized sweatshops in Bangladesh to manufacture their apparel, exposing workers to unsafe working conditions, and poor pay and benefits. Allowing for higher profits for Abercrombie & Fitch. Lack of regulation, allowed A&F to ignore workers work conditions, leading to a factory fire in which 29 Bangladesh employees were exploited and killed, while producing A&f Apparel. In 2013 A&F partnered with Nirapon to help increase safety in the workplace. Discrimination Discrimination with customers, and employees -A&F discriminated against customers and employees based off body size, race, and gender. “That’s why we hire good-looking people in our stores. Because good-looking people attract other good-looking people, and we want to market to cool, good-looking people. We don’t market to anyone other than that. In every school there are the cool and popular kids, and then there are the not-so-cool kids. Candidly, we go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends. A lot of people don’t belong [in our clothes], and they can’t belong. Are we exclusionary? Absolutely. Those companies that are in trouble are trying to target everybody: young, old, fat, skinny. But then you become totally vanilla. You don’t alienate anybody, but you don’t excite anybody, either” -Mike Jeffries, Head CEO of Abercrombie & Fitch Impact Impact How have these unethical business practices impacted A&F? Short Term Long Term -Greater company profits at the hands of cheap and unethical labor - Feeling of superiority to those not discriminated against -Loss of human life -Permanent and deadly health conditions -Damaged reputation -Decrease in company profits - Increased spending on damage control of the A&F brand
Transcript: Situation Analysis Factual Evidence Long and Short Term Consequences Rights or Entitlements Point of View Extended Description Social Justice Analysis Reflection Constraints Does the Good Outweigh the Bad? Stakeholders Fairness/Justice Point of View Critical Ethical Values Primary Concern Case Factors Alternative Courses of Action Business Ethics Template Benefit-Harm Point of View Compatibility of proposed course of action with our values Rights and Principles Analysis Moral reasoning/standards Could we have done more?
Transcript: Business Ethics Presentation Emmett O'Neill 40125230 Introduction/Background to the research Introduction/Background to the research Are student athletes being taken advantage of by the NCAA? Should the NCAA pay it's student athletes? And the Ethical Implications of this Teleology Teleology Deontology Deontology Ethical Relativism Ethical Relativism Corporate Goverance Corporate Goverance Discusssion of appropriate adcaemic and/or praction... Discusssion of appropriate adcaemic and/or practioner literature as related to your topic OUR WORK OUR WORK OUR PARTNERS OUR PARTNERS OUR PROPOSAL OUR PROPOSAL Label 1 Label 2 Label 3 2017 2015 2012 50 % 60 % 70 % Discussion of the organisation/industry Discussion of the organisation/industry Background to the NCAA Background to the NCAA Overview Non-Profit Organisation Organises athletic programs for Colleges in US and Canada 1,281 member univerisites 480,000 student-atheletes President is Mark Emmert Overview Financial side of the NCAA In 2016, the NCAA has a total revenue of $995.9 million The majority of the revenue generated is from television and marketing rights fee College athletics programs in addition annually generate about $6.1 billion "The NCAA acts a buyer cartel or collusive monopsony" (Blair & Harrison, 2010:188-189) Financial side of the NCAA In 2016, the NCAA has a total revenue of $995.9 million The majority of the revenue generated is from television and marketing rights fee College athletics programs in addition annually generate about $6.1 billion "The NCAA acts a buyer cartel or collusive monopsony" (Blair & Harrison, 2010:188-189) Financial side of the NCAA In 2016, the NCAA has a total revenue of $995.9 million The majority of the revenue generated is from television and marketing rights fee College athletics programs in addition annually generate about $6.1 billion "The NCAA acts a buyer cartel or collusive monopsony" (Blair & Harrison, 2010:188-189) Financial side of the NCAA Similar Industries Similar Industries Discussion, analysis and evaluation of key issues Discussion, analysis and evaluation of key issues Teleology of the Teleology of the Conclusion Conclusion Name City Occupation Story 1 Name City Occupation Story 2 Name City Occupation Story 3
Transcript: Ethical Perspective on Stratton Oakmont and Jordan Belfort The Wolf of Wall Street "The Wolf of Wall Street" Trailer "Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. The law often guides business ethics, but at other times business ethics provide a basic guideline that businesses can choose to follow to gain public approval" (Investopedia) What are business ethics? Business Ethics Founded in 1987 by Jordan Belfort and Danny Porush Brokerage Company Rose to about 1300 employees Oversaw the IPO's of more than 35 companies Managed billions of dollars in investments Stratton Employees became crazy rich Shut down by the SEC Belford and other key figures where imprisoned What was unethical about this? Stratton Oakmont Stratton Oakmont Stratton defrauded 200 million dollars from investors Stratton bought Penny Stocks (Really small and cheap companies) from a secret account not linked to Stratton Stratton then massively marketed these worthless stocks to its clients After the stock went up Stratton then dumped the stock they bought back onto the market making a huge profit but crashing the course This is security fraud Ethics Ethics Belfort and his business friends are famous for a lavish lifestyles financed on fraud Drugs Prostitutes Cash Yachts etc. Jordan Beldort Belfort's Lifestyle Jordan and his accomplices laundered tones of money using fake companies, operating in other peoples names etc. Drugs are unethical due to the supply and production chain that is financed Ethics Ethics
Transcript: Verdict and Conclusion Strategy Enron put up an impression of a constant innovator, focusing on rapid growth rather than earnings The New Culture The working culture took a very aggressive turn emanating ambition, greed and contempt Ends, not the means, had become the focus Anyone questioning or challenging the means was stopped Investors were forced to overcome their hesitations in spite of a few questionable means due to the sheer size of Enron Pipes to riches in wonderland ... Arthur Anderson shared responsibility of loss with Enron Signed off majority of accounts (at times under pressure) Enron was one of biggest clients, so lost badly Accounting audit firms run on trust( 60 years of Integrity) The protector (of investors) turns thief Sell technology consulting services to firms they were auditing->Mixed revenue model to benefit each other Wallflower auditing culture->swinging Consultant culture-> Large amount of money Enron’s auditor company, Arthur Andersen was accused of applying reckless standard of audit and using accounting limitations to misrepresent the earnings and modify the balance sheet for indicating favorable performance, and complicate the financial statements to make it difficult for shareholders to understand $90 – All Time High $83 – Value in the beginning of 2001 $79 – Jeffrey Skilling accepted the office of CEO $58 – Bailout of failing Raptors $40 – S. Watkins wrote an anonymous letter to Lay stating accounting scandal concerns $36 – Lehmann Brothers went on to recommend buying Enron stock, Fastow reassured about Enron’s golden future $25 – Lay motivated employees to buy more Enron stock $20.65 – the SEC launched an investigation into Enron, Deloitte & Touche to look into the books Final attempt to save Enron through selling to Dynegy failed On December 2, 2001, Enron filed for bankruptcy. The Real Beneficiaries – Lay ($37 million), Skilling ($14 million), Pai ($62 million), Fastow ($45 million) The Real Losers – Employees of Enron The New Accounting “Mark-to-Market” Accounting allowed Enron to record profits based on ambiguous perception of future incomes. Auditors were reluctant to assert strict auditing standards as they doubled up as their consultants Endgame Begins California Energy Crisis, Price spikes, blackouts lots of money for energy companies Reasons of Decline Decline of telecom and internet companies Falling gas prices By March 2001, a second rescue operation was carried out to save Enron from a huge loss Mr Fatsow Professional Services Group decided to stop but overrode by Duncan $7 million fined by SEC for signing off on false documents in Waste Management “Cease and Desist” order by SEC “Firms document retention policy” : Destroying extraneous documents Destroyed documents related to Enron Obstruction to Justice Beginnings... Mr Duncan Board of Directors have traditionally been paid largely in stock to align their interests with shareholders Directors can sell out early based on insider information When senior executives are charged with failure to abide by SEC rulings, the company typically pays the fine Careful dismantling of all the checks and balances The special purpose entities like LJM and raptors, whitewing and its poor financial Reporting helped the company to hide its billions of dollar debt from failed deals and steal money from the company CFO Andrew Fatsow approved the sale of under performing assets to improve its balance sheet. The wall street fixation was its major focus Group C10: U112131 - Avani Jain U112136 - Ganaish Choudhury U112141 - Goutam Khadanga U112145 - Manoj Mishra U112151 - Nishant Panigrahi U112155 - Pratikshya Mohanty U112161 - Rashmi Ranjan Das In June 1984, Kenneth L. Lay became chairman and COO of Houston Natural Gas He envisioned to make natural gas transportation company the biggest and the most profitable HNG merged with InterNorth, Inc., a small pipeline company, giving rise to Enron From a simple transportation service, Enron emerged into an immense online “gas bank” in the commodities market What was in store... Deals.. Plato: “Greed is unlimited” Consultants separated to form Accenture Joseph H Berardino : “Secured Enron as the largest client: $1 million/ week Carl Bass: Discomfort for “Aggressive hedging strategy for derivatives” Carl Bass replaced by David Duncan Conflict in Chicago headquarters over approving the dubious deals Deals: highly risky and dishonest to inflate profits Rescued tailing Raptors by “Cross-Collateralization” linking debts and assets for all four Raptors Democrats see Enron as justification for a strong assertion of government power to outlaw conflicts of interest and even restore the ban on companies operating in both the banking and securities industries On Feb. 13, the SEC took a large step in that direction by announcing plans to impose far stiffer disclosure rules on companies, like insisting that significant trading in company stock by officers and directors must be revealed immediately & that
Transcript: Utilitarianism: The Cowboys and Redskins tried to maximize their chances to win. The rest of the NFL could have done the same. A utiliarian perspective would agree that the teams did nothing wrong Ethical Analysis The NFL Players' Association (NFLPA) has accused the NFL of colluding to keep players' salaries lower than fair market value Collusion: secret agreement or cooperation especially for an illegal or deceitful purpose Questions for the Class Ethical Theories The Salary Cap in Uncapped Years: Ethical Questions in the NFL Union Accuses N.F.L. Owners of Collusion in Suit New York Times, May 23, 2012 In 2010, the NFL and its players were negotiating a new collective bargaining agreement (CBA) That meant 2010 was played without a salary cap, allowing teams to spend as much money as they could on players The NFL docked the Washington Redskins $36 million, the Dallas Cowboys $10 million The NFLPA alleges that NFL owners met and created a secret salary cap to artificially depress player salaries Stakeholders: NFL teams, team owners, team employees, players, fans, union & league officials, legal officers (attorneys, judges and arbitors) Did the Cowboys or Redskins harm any stakeholders? Why exactly were they punished? Facts of the Case Did the Cowboys or Redskins act unethically? Would you do the same? Did the NFL have ethical standing to punish these 2 teams? Do you agree with their decision?
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