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Transcript of BUSINESS
Committing to a legal deed that is moral and correct
Renting out mortgage to colleagues to earn passive income
Renting out a house to others is not against the law and helps you earn money to pay off expenses
Deeds that are done is legal but is morally incorrect
This is a "grey" area where individuals are not sure if they
should be here or not
They question themselves acting like they have hidden guilt
Examples can include:
Cheating on a test, assignment or quiz
When financial advisors sell funds to people about a promising company when there is no clear violation of rules or regulation while having a relationship with the CEO of that company
When Gordon Gekko purchases companies then laying off staff and selling the companies assets to make a profit was extremely unethical.
Buying the company is legal though.
This segment is another example of a "grey" area
Although individuals in this section commit illegal acts, people in society and themselves believe this is the correct thing to do
Duplicating expensive softwares from business to do work at home
Running a business like a restaurant that is not registered with the government
In Boiler Room, Seth runs a casino at home to earn money for a living
Business ethics can be differentiated between legal and illegal, then broken down further between ethical and unethical. Through the duration of this course, we have discussed many examples of these ethics which can be debatable.
Comparing Laws & Ethics
BY: Winston Huang
This area is not "grey", which means many individuals have an easy decision to be here or not
Examples can include :
Helping a neighbor shovel snow for some money
Renting out a house for others to stay in
In Wall Street 2, Gordon Gekko returns $1 million to his daughter
Miscreants usually fall under this category
Individuals who commit crimes which are illegal in the society will be punished according to the laws set by society as well as being burdened by their wrong doings
Bud provides insider information to Gekko about all the current news and events about other companies
Seth Davis sells fraudulent securities to earn extra commission for himself
In Wall Street 2, Jake Moore legally helps Gordon Gekko acquire the $1 million dollars that was in Gekko's daughter's account. This is unethical because Jake is putting his relationship to risk
In Wall Street, Bud exposes insider information about his fathers company, Blue Star Airlines to Gordon Gekko
Although giving out this information is illegal, bud thought that it was the best choice to help his father's company
In Boiler Room, Seth Davis and the company he works for, JT Marlin make cold calls to wealthy clients.
Cheating on a Quiz
Giving out insider information is illegal when information about a company is given when it is not public yet
The illegal part and unethical is that they sell the clients fake stocks that are not real in order to acquire a high salary along with a great commission.
The clients are promised a high return but end up losing life savings