Martha Stewart Business Ethics Essay Example

Martha Stewart: Business Ethics Paper In June of 2003, Martha Stewart was indicted on several criminal and civil counts from the U. S. Securities and Exchange Commission (SEC) . Without consideration of the verdict, the question remains; Did Martha Stewart, as CEO, act responsibly? Even though she was found guilty on all four counts against her, she could still be considered to have acted ethically. To determine the responsibility and ethics of her actions, the specifics of the case will be applied to a process to determine both the utility and the consequences of her actions. What was the affect of her actions (utility), what were the rights and duties involved (deontology), and ultimately, a decision as to were here actions ethical? Who did Martha Stewart’s actions hurt? Who did they help? Central to theses questions of utility are the specifics of her actions and the circumstances surrounding them. As previously stated, Martha Stewart was found guilty on several criminal charges. How did she get there? What took place? Enron. Tyco. WorldCom. These companies created an environment of public mistrust of big corporations. Lives were destroyed; life savings depleted, and at the end, seemingly light punishments, if any were given to responsible parties. There was no tolerance for continued corporate impropriety. Martha Stewart sold almost 4000 (exactly 3,928) shares of her personally owned stock of ImClone in December 2001. The perception of wrong-doing came about as it related to Food and Drug Administration (FDA) disapproval of an ImClone drug. A friend of Stewart, and ImClone executive, indicated to her that the FDA would not approve the drug. Martha Stewart subsequently sold her shares of the depreciating stock, avoiding a sizeable loss. We will write a custom essay sample on Martha Stewart: Business Ethics specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Martha Stewart: Business Ethics specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Martha Stewart: Business Ethics specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Stewart maintained that there was a pre-existing agreement with her portfolio manager to sell the stock when its value fell to $60 dollars a share, and that the FDA decision and her actions were coincidental. So who benefited from her sell of stock? Obviously, she was able to save money (or rather minimize her loss, as the stock value was already falling). More importantly, who did her actions hurt? Who was the victim? Of course there were many, many people who lost varying amounts of money on ImClone stock, but that would have happened had Stewart not sold her shares. It also did not happen because she sold her shares. From any perspective, it seems as thought there is no victim. There is no victim — no one who was hurt by the actions of someone buying or selling on inside information. Maybe it seems obvious to you that an insider cant profit without someone else being hurt, but that simply isnt the case. In a utilitarian manner, there is no reason to view Stewart’s actions as unethical. Under utilitarianism, a balance between harm and help is done to determine the ethics of an action. Referring to the above, Martha Stewart is looking very ethical in her actions. No one seem to have been hurt, and at least one person benefited, if only financially. The other aspect of the utility test however, is a question of time. Not only must an action be more beneficial than harmful to greatest number of people at the point of the action, but over the long term. An example would be pollution. A chemical company could easily dispose of chemical waste in a local body of water, in an uninhabited area. The immediate result is beneficial to all. The company saves on the enormous expense of controlling, transporting and/or disposing of its waste and there isn’t anyone in the area to complain about the waste. As time passes, the circumstances change. The waterway, which once had a diluting and neutralizing affect, is now heavily contaminated. The surrounding plant and wildlife which drink the water pass on its harmful effects to greater areas, and eventually someone gets sick or dies from something that could have occurred many years ago. This does not happen in the Stewart scenario. No matter how far out you look, no one is ever harmed by her actions. Did Martha Stewart have a duty to act differently than she did? Did here actions violate anyone’s rights? Let’s remember that we are talking about Martha Stewart’s personal stock in a company that she has no control or influence. What duty did she have other than to herself; to protect the value of her personal stock? Many have written that insider trading is a â€Å"victimless crime†. Tibor Machan, writes further on the subject: â€Å"The bottom line is that insider trading is not wrong, actually, not if it doesn’t involve failure to perform one’s fiduciary duty or stealing information. If one learns of something from a friend or overhears a conversation or obtains the knowledge via a psychic, there is nothing wrong with making a profitable move that others hadn’t had the chance to make. † So she upheld her duty. She protected her own interest. Did she violate anyone else’s rights? Again, the fact that it was her personal stock in a company that she was not involved with directly is huge. Let’s say for a moment that she received a tip that stock in her company was failing. Things would be much different. Wouldn’t she have a duty to inform her shareholders that hard times were coming? Wouldn’t that be the right of you financial base, to have full disclosure of the issues that will affect their investment? Of course, but that is not the situation. Because no one else was involved, it is impossible that anyone else’s right was denied. More over, Martha Stewart should have a right to manage her money and investments in such a way that will provide best outcome. If she or anyone else is denied that right, what is the point? â€Å"Finance †¦is not a game! Its aim is to secure prosperity, economic success. And that requires savvy, acumen, not bending over backwards to please one’s competitors†. The specifics of the Martha Stewart case when applied to the test of ethics finds Martha Stewart did not act unethically. Not acting unethically is not the same as acting ethically however. All the analysis above has been in a context of no criminality to her actions. The simple fact remains that what she did was illegal. I think the real question that should come from such a study like this is if the law is ethical. Many people feel as though Stewart did nothing wrong. Maybe, maybe not. That’s is to be fought and decided in the court of public opinion. For my money, at least from what we have been told, Martha Stewart, not unexpectedly for a superb entrepreneur, made some prudent financial moves and the feds, along with many resentful Americans, seem to hate her for it. She didn’t make the right moves with the feds, of course, who came after her for that and for nothing else, really. As Juror No. 8 had put it, Maybe this is a victory for the little guys who lose money thanks to these kinds of transactions. Maybe it’s a message to the big wigs. So, it was about envy, resentment, not any violation of anyone’s rights.

Free Essays on Built To Last

â€Å"Built To Last†: A Study in Visionary Business Most theories of management are based on a structured set of definitive principles from which executive business strategies are intended to proceed. Such practical organizational guidelines as the formation of a coherent and focused mission, the endowments of a talented leader and a trained attentiveness to the development of a single, visionary product are commonly incurred in the theoretical discourse. Collins and Porras, however, have conducted a study regarding the historical, economical and philosophical impetus behind those corporate entities which we have come today to recognize as visionary. Classified as visionary for both their unique virtuosity in their chosen discipline(s) and for their status as culturally pervasive icons of perpetuating importance, the major corporations included in the study are selected for their capacity to illustrate the factors that make a visionary company. In order to accomplish this, the business theorists employ a case by case study in which visionary companies are marked by one of any number of factors against close competitors in their respective fields. The methodology is intended â€Å"to identify the underlying characteristics and dynamics common to highly visionary companies†¦and to translate these findings into a useful conceptual framework† (Collins, 12). This goal is also intended to be buffeted with an effective conveyance of the principles in an executable way that may be taken on by future associates to would-be visionary companies. Each case which the writers consider in order to accomplish this two-fold goal is centered around determining what fundamentally sets the visionary company apart from the control company. In each case, the data yielded is proposed to offer a framework for the route to visionary status. The study incorporates thirty six companies; eighteen visionary and eighteen control organizations. As a study on the dive... Free Essays on Built To Last Free Essays on Built To Last â€Å"Built To Last†: A Study in Visionary Business Most theories of management are based on a structured set of definitive principles from which executive business strategies are intended to proceed. Such practical organizational guidelines as the formation of a coherent and focused mission, the endowments of a talented leader and a trained attentiveness to the development of a single, visionary product are commonly incurred in the theoretical discourse. Collins and Porras, however, have conducted a study regarding the historical, economical and philosophical impetus behind those corporate entities which we have come today to recognize as visionary. Classified as visionary for both their unique virtuosity in their chosen discipline(s) and for their status as culturally pervasive icons of perpetuating importance, the major corporations included in the study are selected for their capacity to illustrate the factors that make a visionary company. In order to accomplish this, the business theorists employ a case by case study in which visionary companies are marked by one of any number of factors against close competitors in their respective fields. The methodology is intended â€Å"to identify the underlying characteristics and dynamics common to highly visionary companies†¦and to translate these findings into a useful conceptual framework† (Collins, 12). This goal is also intended to be buffeted with an effective conveyance of the principles in an executable way that may be taken on by future associates to would-be visionary companies. Each case which the writers consider in order to accomplish this two-fold goal is centered around determining what fundamentally sets the visionary company apart from the control company. In each case, the data yielded is proposed to offer a framework for the route to visionary status. The study incorporates thirty six companies; eighteen visionary and eighteen control organizations. As a study on the dive...

The History Behind Sociology

The History Behind Sociology Although sociology has its roots in the works of philosophers like Plato, Aristotle, and Confucius, it is a relatively new academic discipline. It emerged in the early 19th century in response to the challenges of modernity. Increasing mobility and technological advances resulted in the increasing exposure of people to cultures and societies different from their own. The impact of this exposure was varied, but for some people, it included the breakdown of traditional norms and customs and warranted a revised understanding of how the world works. Sociologists responded to these changes by trying to understand what holds social groups together and also to explore possible solutions to the breakdown of social solidarity. Thinkers of the Enlightenment period in the 18th century also helped set the stage for the sociologists who would follow. This period was the first time in history that thinkers tried to provide general explanations of the social world. They were able to detach themselves, at least in principle, from expounding some existing ideology and to attempt to lay down general principles that explained social life. The Birth of Sociology as a Discipline The term sociology was coined by French philosopher Auguste Comte in 1838, who for this reason is known as the â€Å"Father of Sociology.† Comte felt that science could be used to study the social world. Just as there are testable facts regarding gravity and other natural laws, Comte thought that scientific analyses could also discover the laws governing our social lives. It was in this context that Comte introduced the concept of positivism to sociology - a way to understand the social world based on scientific facts. He believed that, with this new understanding, people could build a better future. He envisioned a process of social change in which sociologists played crucial roles in guiding society. Other events of that time period also influenced the development of sociology. The 19th and 20th centuries were times of many social upheavals and changes in the social order that interested the early sociologists. The political revolutions sweeping Europe during the 18th and 19th centuries led to a focus on social change and the establishment of social order that still concerns sociologists today. Many early sociologists were also concerned with the Industrial Revolution and the rise of capitalism and socialism. Additionally, the growth of cities and religious transformations were causing many changes in people’s lives. Other classical theorists of sociology from the late 19th and early 20th centuries include Karl Marx, Emile Durkheim,  Max Weber, W.E.B. DuBois, and Harriet Martineau. As pioneers in sociology, most of the early sociological thinkers were trained in other academic disciplines, including history, philosophy, and economics. The diversity of their training is reflected in the topics they researched, including religion, education, economics, inequality, psychology, ethics, philosophy, and theology. These pioneers of sociology all had a vision of using sociology to call attention to social concerns and bring about social change. In Europe, for example, Karl Marx teamed with wealthy industrialist Friedrich Engels to address class inequality. Writing during the Industrial Revolution, when many factory owners were lavishly wealthy and many factory workers despairingly poor, they attacked the rampant inequalities of the day and focused on the role of capitalist economic structures in perpetuating these inequalities. In Germany, Max Weber was active in politics while in France, Emile Durkheim advocated for educational reform. In Britain, Harriet Martineau advocated for the rights of girls and women, and in the U.S., W.E.B. DuBois focused on the problem of racism. The Modern History of Sociology The growth of sociology as an academic discipline in the United States coincided with the establishment and upgrading of many universities that were including a new focus on graduate departments and curricula on â€Å"modern subjects.† In 1876, Yale University’s William Graham Sumner taught the first course identified as â€Å"sociology† in the United States. The University of Chicago established the first graduate department of sociology in the United States in 1892 and by 1910, most colleges and universities were offering sociology courses. Thirty years later, most of these schools had established sociology departments. Sociology was first taught in high schools in 1911. Sociology was also growing in Germany and France during this period. However, in Europe, the discipline suffered great setbacks as a result of World Wars I and II. Many sociologists were killed or fled Germany and France between 1933 and the end of World War II. After World War II, sociologists returned to Germany influenced by their studies in America. The result was that American sociologists became the world leaders in theory and research for many years. Sociology has grown into a diverse and dynamic discipline, experiencing a proliferation of specialty areas. The American Sociological Association (ASA) was formed in 1905 with 115 members. By the end of 2004, it had grown to almost 14,000 members and more than 40 â€Å"sections† covering specific areas of interest. Many other countries also have large national sociology organizations. The International Sociological Association (ISA) boasted more than 3,300 members in 2004 from 91 different countries. The ISA sponsored research committees covering more than 50 different areas of interest, covering topics as diverse as children, aging, families, law, emotions, sexuality, religion, mental health, peace and war, and work. Sources About ASA. American Sociological Association, 2019. Statutes of the International Sociological Association. International Sociological Association.

Unemployment and the economy Coursework Example | Topics and Well Written Essays - 750 words

Unemployment and the economy - Coursework Example This has been shown to be as a result of three major reasons which are, the aging population, cyclical decline as a result of historical patterns in the past recession and other factors including the consequences of the Great Recession. In the run-up to 2008, it was discovered that the participation rate decline was conditional on age. However, the decline rate for prime-age men and women was offset by the increase in the participation rate for older workers. According to discoveries, there have been disruptions in the labor market due to the impacts of the 2007-2009 recession. Population growth has slowed coupled with declines in the labor force participation rates. It has been projected that the decade, that follows, will bring forth an aging workforce that grows slowly and declining overall labor force participation. After the decline in the 2001 recession, the Labor has maintained a steady rate of 66.0 percent from 2004-2008. As a result of shifts in the labor due to the baby balloon generation, it is seen that these shifts do not have an injurious influence on the unemployment rates. Labor force participation rate is a measure of the proportion of non-institutional civilian population either employment or looking for employment. By the year 2011, 85.2 percent of college graduates participated in the labor force which exceeded the previous year by 1.9%. The participation rate of those with advanced degrees by that time was measured to be at 91.0 percent. This rate was found to be the same for both women and men, disregarding the types of degrees received (Anderson et al., 2009). Since the year 2005, US population and labor force trends have shown that out of the total population estimates, half of it has always been an active labor force. The rapid growth in the labor force in the US over the past decades has been attributed to the growth in the size of population as well as the increased rates of participation of women in the labor force

Influence of the Personal and Professional Background Statement

Influence of the and Professional Background - Personal Statement Example I used to design PowerPoint presentations for monthly divisional gatherings with top-level manage besides supervising, coaching and training lower level staff. From January 2012-March 2012, I worked as the Registration coordinator and public relations assistant in Doha International Maritime Defense Exhibition and Conference. While in this position, I organized events, acted as a link between our company and the governmental body, assisted at the lounge of Qatar Armed Forces chief staffs, recruited, oriented, and trained volunteers. From January 2011- December 2011 I served as the executive assistant to the project director of 20th World Petroleum Congress (QMDI (QF JV) & Qatar Petroleum). I managed the organization's information and communications apart from supervising and training clerical staff. August –December 2010 I worked as the administrator and human resource coordinator of Qatar Real Estate partners and Qatar Sotheby’s International Realty where I helped in t he resolution of specific disciplinary as an arbitrator between the manager and employee. From sep.2006-sep. 2008, I was the cabin attendant for the Qatar Airways Airline-Doha Qatar with chief responsibility of ensuring safety and security among other duties. I have also been a sales executive at Bin Hindi Est. Hugo Boss-Baldessarini in Dubai from ec.2005 –Aug.2006. Aug.2005-1ug.2005 I worked as the retail advisor for Wanadoo France telecom in Tunisia. Educationally, I have certificates in teamwork skills, English business communication, executive secretarial skills cabin attendant from Qatar civil aviation, safety, security and air restraint. I have had recommendations from various personalities recognizing me as extremely creative, smart Microsoft office operation, reliable, ambitious, and elegantly professional.

How To Communicate In A Relationship Essay -- essays research papers

How to Communicate in a Relatioship   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  1 Henry Roose Marion Fekete Writing 151 6 December, 1996   Ã‚  Ã‚  Ã‚  Ã‚  The hardest skill to master in order to maintain a successful, loving relationship is communication. Being unable to express one's thoughts clearly and accurately is a heavy burden to bear when trying to hold a conversation. It often causes misunderstandings and unnessary arguments. Plainly expressing one's thoughts is a lesson that many do not learn. The staggering number divorces in recent years may be the effect of ill-communication. Even with all the conveyances of modern day (cellar phones, modems, pagers), important ideas, somehow are not being expressed. In a relationship one can easily misinterpret a statement and become upset. Openly expressing full thoughts, and carefully listening to what your mate is saying are two worthy and helpful tips on holding up the communication bridge.   Ã‚  Ã‚  Ã‚  Ã‚  Many times, people become frustrated at their partner's lack of understanding. Unfortunately, no one can read minds. That fact makes it of the utmost importance to be able to let your mate in on what you are thinking. How can he or she possib...

Little Miss Sunshine Family Assessment Essay

Introduction Family can be a source of support, comfort, optimism, love and happiness, but family can also be a cause of depression, betrayal, hurt and pain. Family is not always determined by the having the same DNA running through one’s veins but it is the bond that people can have with one another. Family can consist of friends, co-workers, classmates, a community or a group of other people. Some family members can be the worst enemies because they have the most ammunition of secrets to bring a relative down. Being able to trust a person, depend on them, and be carefree is a person that can be valued as being a part of a family. In the movie Little Miss Sunshine, their dysfunctional family is loving, supportive, optimistic as well as motivating. The movie is filled with dark humor about a modern middle-class family that is about to encounter financial catastrophe but in the midst of their struggles they still find the beauty in life. In the opening of the movie Richard, the father is giving a motivational speech about winning, he states â€Å"There are two types of people in this world, winners and losers†. Richard is a protagonist motivational speaker that is obsessed with winning. He is so consumed with achieving that he ridicules his family for not being perfect throughout the film. Sheryl is the mother who is an optimist, she is always giving words of encouragement even when Richard is trying to bring his family down and she is all about honest. Frank is the brother of Sheryl whom at the beginning attempts to commit suicide due to a broken heart and losing his standing as America’s pre-eminent Proust Scholar. Dwayne is the son of Richard and Sheryl and is committed to being in the air force. He is so committed that he takes a vow of silence until he gets into the air force, but then finds out he is colored blind and breaks his silence. Olive is another protagonist character in the film, she is t he daughter of Frank and Sheryl and has dreams of  becoming a beauty queen. Grandpa is Olive’s beauty queen pageant coach and is a late in life convert to heroine and porn, he eventually dies from a drug overdose. Main themes within the film are irony, issues of struggling to be perfect with the trials and set backs as a middle class family as well as exposing beauty pageants for little girls in America. Irony is a main theme in the movie because the roles each character plays contradicts who they are trying to be. Richard is all about motivating others to win and pushing his â€Å"9 steps to Success† however ironically he is unsuccessful in his motivational speeches. In the opening scenes Richard is giving his â€Å"9 Steps to Success† lecture to a class of no more than 4 or 5 students and his steps to success are denied because no one knows who he is. Olive’s character also shows irony because she is an overweight, unfashionable 7 year old that is competing in glamor beauty pageants. Grandpa is in late adulthood but is acting as though he is in the stages of early adulthood by doing drugs instead of watching out for his health to prolong his life. Dwayne is showed to be working out and lifting at the beginning of the movie like as if he is a pro-athlete but is very slender and pale. Throughout the film the irony within each character and the masks they wore cha nged for the better. Issues of struggling in the film for this middle class family shows how they are on the verge of a financial catastrophe. Richard was so invested in his contract for his steps to success and depended on that source of income only to find out his contract was cancelled. The Hoover’s van breaks down multiple times and has many issues, such as the horn constantly honking. The family also did not have the money to go to California but made the trip anyway to chase Olive’s dream that would may come true. Even after the pageant financial burdens await them with the transportation of grandpa’s corpse and the costs for a funeral. With all the struggles this family endures the characters ways of thinking changed into optimistic views of life. Little Miss Sunshine was the beauty pageant that Olive was competing in and when the family arrived they realized that the Olive did not contain the  glamor and elegance of the other contestants. This film displayed the process in which the little girls had to go through to fulfil the image of a beauty pageant queen. In the middle of the film Olive orders ice cream for breakfast and Richard lectures her about her way of eating and that beauty pageant winners do not eat ice cream so that way they can look thin and win. During the pageant Olive shows her talent of dancing and the judges are offended, the crowd is disgusted and the host of the pageant attempts to get her off stage all because she does not fulfill the image of what society says a beauty pageant contestant should look like. But after Olive’s performance Richard then compliments her for doing such a great job and that her grandpa would have been proud of her. Richard realizes that his daughter is who she is and is proud to know that she tries her best in all she does and enjoys herself. Assessing the family one can determine that they have yet to achieve homeostasis. The family system as a whole shows that they are unable to maintain a stable constant state of balance financially however they are able to achieve this with their family structure. An example of the strong structure in this family system is having dinner with everyone present at the table, even Dwayne though he holds his vow of silence. Boundaries within the family system are set by Richard and most of the time it is him against everyone else. Subsystems include the brother Frank, the children Olive and Dwayne and grandpa. Each member has a role to play where Sheryl’s role is the most important because she is matriarch of the family, she is what holds the family together with her optimism and encouragement. There is a strong relationship between Olive and Dwayne, when Dwayne breaks down after finding out he is color blind Olive is there to comfort him same with Dwayne being there for Olive when she is getting ridiculed onstage at the Little Miss Sunshine pageant. The parents however seem to be on the brink of a divorce due to the constant arguments, if financial burdens get any tougher it may break their marriage. The family is experience negative entropy, each member is growing and developing. Frank who was at first suicidal is giving Dwayne advice about life. Richard is realizing that life is not all about winning but seeing the beauty in loving his family for who they are and what they do. When questioning the family, concerns would be whether or not Frank is still at risk of suicide? Has Frank identified the immediate problem that is causing excessive stress? He is suffering from a broken heart and due to that he is losing everything else around him because the man before is overshadowing his family, his goals, and his future. Has Frank identified any strengths that he still has? This question is asked because he is depressed about losing his job and as well as his standing as America’s pre-eminent Proud Scholar. Frank does show some signs of depression, he has a made a previous attempt, and he has no spouse. According to the SAD PERSONS scale Frank as a client may be considered for hospitalization though he has an amazing support system with his family.(344).