Merrill Lynch Case

1197 Words5 Pages
investments. Of course, it is possible for corruption to enter a business that derived from one person, but revolved into a major firm that would impact thousands of American citizens. However, it is management’s responsibility to ensure that the firm’s foundation remains second to God. “Where there is no guidance the people fall, But in abundance of counselors there is victory” (Proverbs 11:14, NASV). If the leaders of the business do not respect the values of the business, it will lead to lack of respect for employees and customers. When the righteous increase, the people rejoice, But when a wicked man rules, people groan” (Proverbs 29:2, NASV). A plausible reason that resulted in Merrill Lynch ending in calamity is connected to the new company…show more content…
“Do nothing from selfishness or empty conceit, but with humility of mind regard one another as more important than yourselves” (Philippians 2:3, NASV). If O’Neal was not given authority to fire all of Merrill’s trained associates, the company would not have been exposed to the disaster that the leaders and consumers were faced with. "Furthermore, you shall select out of all the people able men who fear God, men of truth, those who hate dishonest gain; and you shall place these over them as leaders of thousands, of hundreds, of fifties and of tens” (Exodus 18:21). If there was an ethical leader that valued the fundament of business ethics, the firm could have avoided such a devastating loss that caused unemployment and debt to the employees and employers that once represented the firm and caused business to flow appropriately. If management relied on Client focus, it would assure customer service and interaction. Focusing on the concerns, needs, and desires of the customer gains the trust of the…show more content…
According Ruddell (2004), five main principles, have a long term ,big pictures, be honest, be wise, be diligent, and be good to people are a great way to set up ethics in programs, so it will not happen again (Pg. 44). Merrill Lynch fail all principles. “Have a long term, big picture perspectives” means to plan a strategy for the future. Companies want to have an outlook to see where the company success in the future. Merrill Lynch starts making good money and once they seen that they could take customers’ money. The more customers they got, the greedier they got to take the customers’ money. According to Grudem (2003), in Business for the Glory of God states “ Producing goods and services is fundamentally good and provides many opportunities for glorifying God, but also many temptations to sin”( Pg.25). Merrill Lynch had a chance to provide customers with their services to glorify God, but instead they were sinning by being greedy with customers’ money and using fraud in the company. “The integrity of the upright guides them, but the crookedness of the treacherous destroys them” (Proverbs 11:3 New Living Transaltion). Honesty should be in business. Customers and employees look for leaders to guide them down the right path. Merrill Lynch fail to have honesty in their company and this is why they were
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