Ethical Lessons Learned from Corporate Scandals Essay examples -- Busi

Ethical Lessons Learned from Corporate ScandalsEthics is round behavior and in the face of dilemma it is about doingthe right thing. Ideally, managerial leaders and their people willact ethi songy as a result of their internalized virtuous core values. The Enron scandal is the most prodigious corporate offend in theUnited States and it demonstrates the need for significant reforms inaccounting and corporate governance in the United States. It is alsoa call for a close look at the ethical quality of the culture ofbusiness generally and of business corporations (Lessons from theEnron Scandal). The collapse of fifty-fifty the smallest of businessesimpacts many people, and therefore even the smallest business canlearn what not to do from the multibillion dollar corporation. Thefailure of ones business will greatly and negatively affect itsemployees, partners, as well as the families of each of those groups. Business owners have a duty to operate in a prudent, lawful andethical manner . The major lessons that were illustrated by thecollapse of Enron and other corporate scandals will be the moralityplay of the new economy. It will teach executives and the Americanpublic the most important ethics lessons of this decade. pecuniary cleverness is no substitute for a good corporate strategy. Financial accounting is a backward looking, unusually complex, subjectto subjective interpretation, vulnerable to several(prenominal) controversialaccounting doctrines...