8 pages/≈2200 words
The Legal Environment of Business (Term Paper Sample)
Students will write an 8-10 page, double-spaced paper regarding corporate ethics in the post-Enron era from the role of a policy analyst. This paper should address the following question: “What specific changes, if any, would you recommend to a policy maker to increase the effectiveness of corporate governance in this post-Enron era? In answering this question, you may wish to focus specifically on issues involving boards of directors, shareholders, and the modern role of the CEO.” The portfolio project is an 8-10 page paper that requires you to write a memorandum to a decision maker, such as the president of the United States, a member of Congress, a chairperson of the SEC, or a state Governor, on how to reform corporate ethics in American business today. As we have seen, legislation such as Sarbanes-Oxley has received considerable media attention, but has not prevented significant catastrophes such as the global economic meltdown of 2008. You should be prepared to propose policies that might help to ameliorate or to prevent corporate ethics lapses that might occur in the future. You have the freedom to select any policy avenues that you think might help to strengthen and fortify corporate ethics. Your memo should: 1) Set forth why your chosen policy pathway is important; 2) Articulate your ideas on how to remedy the issue of corporate malfeasance; and 3) Proffer some recommendations to the decision-maker about how to improve overall corporate governance. Please note that your prescription for change is not nearly as important as your ability to forecast potential challenges to the corporate boardroom and to predict possible ways the government could intervene to assist not only solid corporate governance, but also the interests of individual shareholders. It is recommended that you suggest at least two methods and/or policy proposals which critically address the public policy concern. Bring in facts and other data to support the policy issue addressed and make sure each fact is cited to relevant authority. Demonstrate critical thinking by analyzing, evaluating, and interpreting appropriate policy to provide original perspectives to enhance corporate legal and ethical environs. You are expected to convey complex ideas in a clear, concise, and organized fashion, using the required and recommended readings from the course for analytical support. Make sure to also review the project rubric on the course page and to cite in APA format. source..
The Legal Environment of Business Name: Course: Professor Name: (February 27, 2012) . The Legal Environment of Business Ethics refers to the drive or motivation on ideas on what is right or wrong. It incorporates moral values and rule of law. Business ethics term is applied in different contexts and means differently to organizations. Business ethics history has been in existence for many decades and scholars interpret it with variations (Fieser, 2011). Business ethics has been associated to the recent developments especially in the nineteen seventy periods. The second meaning of business ethics is related to scandals and corruption deals that raised the necessity of a working environment endorsed by accountability. The third image of business ethics refers to the movement of systems within organizations (George, 2010). It is believed that business ethics is in form of structures relating to ethical codes, ethical hackers, ethical officers, ethical training and ethical committees (Michael, 2006). Business ethics in the Post-Enron Era listed the responsibilities of the American government and the responsibilities of the American businesses. The collapse of Enron specialty is evident to have exposed moral decay in America (McGraw, 2007). There are numerous scandalous episodes in the American businesses. This has raised the need to reform the ethics in the American businesses today. The government leaders and the organizational leaders have the responsibility of installing business ethics (Fieser, 2011). This will enable business corporations in America have a predetermined code of conduct, increasing transparency and trust between the involved stakeholders. Business ethics enhancement will enable customer’s satisfaction. Enron earthquake has swept away the confidence in the public. This has altered the operating systems of the capital markets of America. Capital markets are considered the heartbeat of the American economy. Enron earthquake has pushed people out of businesses due to lost investments and massive layouts. This is a loss beyond imagination in the American history (George, 2010). The retirement security and investments worth millions of dollars has been tampered with illegally. This has made the topic of business ethics substantially critical in the American businesses. Conflict of ethical values and shareholder values is critically addressed. Enron collapse led to the breach of trust (McGraw, 2007). Organizations and the business entities of America have the responsibility of turning the scandals to net gain for the sake of consciences, economy and the American country. Enron earthquake has destroyed the America name in the business context. This has brought in the need to reform the corporate ethics in the American business today (George, 2010). Many states of America including the Washington state are sorting out things after the Enron disaster. The Senate Governmental Affairs Committee is at the stages of fully addressing the Enron disaster in a way that it will not occur again (McGraw, 2007). The Federal Government must set policies that will enforce business ethics in the American businesses. This will assist in safeguarding the plights of the American workers four hundred and one K plans. Federal government must enforce policies that ensures that the rating agencies and the auditors are independent and not under the influence of powerful individuals in the American business. This will assist transparency in the agencies and enable the public to regain the trust with the American businesses. The agencies will have more power to detect frauds and deal with the menace appropriately (Fieser, 2011). Business people and the businesses must set standards in the ethical code. This is because the government cannot put law enforcers at every corner of the American nation to ensure ethics are o...
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