Prepared to make tough ethical decisions

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Reference no: EM132323276

Learning Activity-2

Co. A was founded in Baltimore, MD in 1923. In 1924, Co. A began to manufacture sugarcookies. The company continued to grow, expand its manufacturing operations until, in1945, Co. A "went public" and sold its stock on the NYSE for $10/per share. The value ofthe stock has increased to a value of $100/per share in 2012.In 2011, Co. A stated in its annual financial report to stockholders that its 2011profit was $5 million, when in fact its profit was only $3 million. This error was a typo,and not an intentional fraudulent act. The new CEO has discovered this falsification and is concerned about ethical and legal implications.What is the ethical dilemma? Explain possible consequence of the problem and suggest alternative resolutions to the case.

Learning Activity-2

EXERCISE Clarifying Your ValuesIf you wish to be better prepared to make tough ethical decisions at work or elsewherein your life, it can be extremely helpful to clarify your personal ethicalvalues before they're seriously challenged. Following is a selected list of values.Feel free to add one or more if you have a deeply heldvalue that is not represented on this list (it is not meant to be exhaustive). Inpriority order (with 1 being the most important value), list from three to six valuesthat are most important to you personally in making decisions. That's theeasy part. Next, think seriously about what happens when two or more of thesevalues conflict. For example, what happens if you value both honesty and successand they come into conflict? Are you willing to forgo financial success in order tobe completely honest with customers or suppliers? Next, if you're working, thinkabout the values of your organization and how those are prioritized. Are thereserious conflicts between your personal values and the organization's values?Finally, list those values that you would choose to serve as the basis for businessdealings in an ideal society.

Action orientation

Equality

Helpfulness

Power

Teamwork

Altruism

Excitement

Honesty/Integrity

Promise keeping

Tradition

Authority

Experimentation

Honor

Responsibility

Wealth

Compassion

Fairness/Justice

Initiative

Risk taking

Winning

Competence

Family well-being

Innovation

Respect

Conformity

Flexibility/adaptability

Moderation

Security

Creativity

Freedom

Novelty

Self-discipline

Customer satisfaction

Harmony

Obedience

Status

Diversity

Humility

Order

Success

Reference no: EM132323276

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