Essay on Ethical Behavior Analysis of Bernie Madoff Enron

Ethical Behavior Analysis of Bernie Madoff amp; Enron Ethics, ethical values, and social responsibility should all work in unison in a corporate business structure. These key traits are better defined as maintaining overall good business morals, obtaining employees who possess personal ethical values, and finally to behave ethically and with sensitivity toward social, cultural, economic and environmental issues. For a business to better ensure these quality business traits a code of ethics should be adopted by the business. In the cases of Bernie Madoff and Enron, the most well-known financial scandals in history, I feel, gave a major hand in pushing business all across America to have and enforce the code of ethics. Bernie Madoff†¦show more content†¦Madoff clearly did not have any views of ethics or social responsibility towards his investors. All he cared about was the green dollar signs. I think that his sons took a major stand by outing him to the public officials. To me, it showed that at least all ethic values were not lost with this family. Madoff’s sons are the ones the investors should thank for giving them justice. Enron was an energy trading and communications company located in Houston, Texas. During 1996-2001 Enron was given the name of America’s Most Innovative Company by Fortune magazine as it was the seventh-largest corporation in the US. The problem that led this company to bankruptcy was due to the fact that fraudulent accounting practices took place allowing Enron to overstate their earnings and tuck away their high debt liabilities in order to have a more appealing balance sheet (Forbes.com, 2002). Enron’s accounting team â€Å"cooked† the books to every meaning of the word so that their investors would not see anything wrong with the failing organization. This poorly structured company led people to jail time, unemployment, and caused retirement stocks to be dried up. Enron had a social responsibility to its stockholders and rather than being up front and honest about the failing company they hid every financial flaw in order to keep receiving money from its investors. By Enron not keeping a socialShow MoreRelatedAnalyzing Ethical Behavior920 Words   |  4 PagesANALYZING ETCHICAL BEHAVIOR PAPER Analyzing Ethical Behavior Paper Chad L. Million Grand Canyon University BUS-340 Ethical amp; Legal Issues in Bus. Glen Germanowski July 25, 2010 Analyzing Ethical Behavior Paper When functioning in the corporate world, it is an essential to include moral ethics. Ethics is also particularly imperative when laboring with financial information. It is very hard to have faith in someone managing plenty of money. Corporations in the past have distortedRead MoreLack of Ethical Behavior in the Cases of Bernie Madoff and Enron676 Words   |  3 Pages Ethical behavior is behavior that a person considers to be appropriate. 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