How to reform corporate ethics in American business today?
The Portfolio Project 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 cover the following:
- Set forth why your chosen policy pathway is important
- Compare and contrast with the policy it replaces
- Articulate your ideas on how to remedy the issue of corporate malfeasance
- 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 that 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. Although you are encouraged to cite from your textbook, you are required to cite a minimum of four scholarly sources (beyond the textbook) to support your statements.
Your well-written paper should be 8-10 pages in length, not including the title or references pages.
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How to Reform Corporate Ethics in American Business Today
The latest corporate ethics scandals of several of the country’s largest companies have shed extreme reservations upon the validity of the individuals who governed such companies. They additionally have prompted insolvencies and huge cutbacks. Ethical delinquency in working environments is widespread in present corporate America. The problems go from bribes to the misuse of an organization’s resources to illegal political donations. Researchers have illustrated that transgression in places of work decreases when the economy is failing and will increase when the country is not facing significant economic difficulties (Pope, 2015).
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