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In this discussion, please reflect on your
comprehension of financial management and knowledge gained from the media
concerning financial real world activities and events occurring in the US.
actions and behaviors of leaders and managers in corporations could
influence the market value and price of stocks?
reflecting on the creation of the Sarbanes-Oxley Act to increase
accountability through new mandatory standards, what are some possible
explanations as to why unethical conduct occurs in financial management?
are some activities corporations can do to decrease overall unethical
practices and promote good business ethics in the organization?
1 Response to Discussion Question:
Hey Professor and Class,
One of the biggest actions of leaders & managers is within the companies
finance. Making poor decisions reflects on the future growth of the company.
Choosing high interest loans can result in a decrease in revenue. It would be
hard to stay ahead and increase revenue if the money made is being applied to a
negative balance. Price of stock can go both ways. If the stock has constant
falls and limited rise, that can send off a negative view for investors.
A possible explanation as to why unethical conduct occurs would be the
convenience. It’s not right but you have companies that will overwork employees
with minimum pay. Their goal is to increase productivity and revenue but at
others expense. I honestly can’t think of any other reasons. Maybe, the cost is
too much for the company to handle and they are in over their heads.
Some activities corporations can do is taking time to create a practical plan.
I think for smaller businesses starting off but have a gigantic budget that
includes impossible tasks is not logical. To operate big, you must be open to a
bigger budget and include possible failures. Within corporations, setting work
standards and ensuring they are followed. Respecting employees needs and
providing a safe environment. Managerial positions should set standards that
they also follow.
SHRM (April, 2014) Creating an Ethical Workplace Retrieved
Strain, M (2016) Retrieved from http://smallbusiness.chron.com/
Number 2 Response to Discussion Question:
Hello Class and Professor,
What actions and behaviors of leaders
and managers in corporations could influence the market value and price of
prices are influenced by many factors such as interest rates, inflation and
political environment. Influence based on the actions and behaviors of
leaders and managers are those of corporate earnings, changes in management,
news about competitors and whether they are taking business away from the
company, new products and services and lawsuits. As stated in an
article on Max’s Investment World “Bottom line: try to avoid changing your
investment behavior based on general factors affecting stocks as a whole and
concentrate on the specific companies you own in your portfolio. Follow
fundamental news about whether they are coming out with new products and
services, innovating, keeping costs down, winning against competitors, finding
talented employees, etc.”.
In reflecting on the
creation of the Sarbanes-Oxley Act to increase accountability through new
mandatory standards, what are some possible explanations as to why unethical
conduct occurs in financial management?
Ethical issues in the financial services
industry affect everyone, because even if you do not work in the field, you are
a consumer of the services. Some possible explanations as to why
unethical conduct occurs in financial management are self-interest, which
sometimes morphs into greed and selfishness, which is unchecked self-interest
at the expense of someone else. This greed becomes a kind of accumulation
fever. Some people suffer from stunted moral development, the failure to
be taught, the failure to look beyond one’s own perspective, and the lack of
proper mentoring, some people equate moral behavior with legal behavior,
disregarding the fact that even though an action may not be illegal, it still
may not be moral. Also, professional duty can conflict with company
demands; for example, a faulty reward system can induce unethical behavior and
individual responsibility can wither under the demands of the client
some activities corporations can do to decrease overall unethical practices and
promote good business ethics in the organization?
Some activities corporations can do to decrease
overall unethical practices and promote good business ethics in the
organizations are to create a code of conduct; a written code of conduct
provides employees and managers with an overview of the type of conduct and
behaviors the company expects. It outlines what behaviors are unacceptable and
what measures are taken if an employee violates the code of conduct. They
can lead by example. Employees look to business owners and managers for
direction on how they should conduct themselves. As a business owner, make
ethics-based decisions and monitor the individuals you put into leadership
roles at your company for the same values. Reinforce consequences; business
owners must hold their employees accountable when they act unethically.
Start by informing new employees of the rules during their orientation
sessions. If an employee acts unethically, refer to the code of conduct and
take the necessary measures to warn or terminate. Show Employees
Appreciation; loyal employees feel that a company values the hard work they put
into accomplishing tasks on a daily basis. A loyal employee is less likely to
act unethically. Show appreciation to the employees for work well done on a
regular basis to encourage loyalty. Welcome an Ethics Speaker; schedule an
ethics trainer to visit your work site to discuss ethical behavior and explain
why it is important in organizations, regardless of the size or industry.
Ethics trainers use role-playing, motivational speaking, videos and handouts to
illustrate the importance of ethics in the workplace. Create checks and
balances; Rather than putting related responsibilities in the hands of one
employee, create a system of checks and balances to minimize the opportunities
for unethical behavior and Hire for values; when business owners hire
employees, many seek to bring on individuals who have the education and
experience that prove they are skilled workers, capable of handling the tasks
at hand. Employers who want to prevent unethical behavior also look at
candidates’ values to ensure they mesh with the company’s culture.