Your search returned over 400 essays for "corporate scandals"
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Corporate Scandals: How Greed Consumed The American Dream

- More and more corporate scandals are happening in America. Why have these scandals just shown up in recent years. What causes these corporations to lie and be deceitful towards investors. Though once seen as legitimate, fair, honest, and respectable, corporations have arrived at a stage of greed and deception. This can be explained by a number of factors such as how the stock market works, the stock market boom, changing company practices, CEO benefits, and specific company examples. Public companies are any company that has stock available to the public to buy....   [tags: Business Ethics]

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Ethical Lessons Learned from Corporate Scandals

- Ethical Lessons Learned from Corporate Scandals Ethics is about behavior and in the face of dilemma; it is about doing the right thing. Ideally, managerial leaders and their people will act ethically as a result of their internalized virtuous core values. The Enron scandal is the most significant corporate collapse in the United States and it demonstrates the need for significant reforms in accounting and corporate governance in the United States. It is also a call for a close look at the ethical quality of the culture of business generally and of business corporations (Lessons from the Enron Scandal)....   [tags: Business and Management Studies]

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Remembering the Frauds at Enron and WorldCom

- "This is why the market keeps going down every day - investors don't know who to trust," said Brett Trueman, an accounting professor from the University of California-Berkeley's Haas School of Business. As these things come out, it just continues to build up"(CBS MarketWatch, Hancock). The memories of the Frauds at Enron and WorldCom still haunt many investors. There have been many accounting scandals in the United States history. The Enron and the WorldCom accounting fraud affected thousands of people and it caused many changes in the rules and regulation of the corporate world....   [tags: corporate financial scandals]

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Unethical Practices : Unethical Behavior And Scandals

- ... These wrongdoings are done to ensure that the executive gets more than they were supposed to. Stock marketers have also fraudulently speculated in quest of their individual gains. Countless scandals have been experienced in various corporate sectors. Examples of these businesses include, Tyco, Enron, AIG, and WorldCom. These irresponsible and unethical beaviours have raised many concerns to the public. These unending instances of unethical behavior and corruptions both in governments and corporate bodies have prompted the need to understand ethics in general as well as business related ethics....   [tags: Ethics, Business ethics, Morality, Applied ethics]

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Financial Scandals and Environmental Disasters

- Due to financial scandals and environmental disasters, CSR has become a critical issue for companies who are demonstrating their commitment towards an ethical outlook and responsible behaviour by developing strategies which focus beyond profit maximisation, from the concern of wellbeing for employees to improving the community and the environment, in order to try minimising the damage caused by media coverage and increased transparency. Christian Aid (2004) argues that CSR is an inadequate response to the devasting impact that multinational companies make, using CSR to mask the impact....   [tags: ethics, profit, companies]

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The Role of Ethics in Corporate Governance

- Introduction This paper discusses the role of ethics in corporate governance. I seek to show the application of moral and ethical principles in corporate governance. Ethics is a topic that has generated a lot of interest in the last decade especially after high profile scandals. The failures of prominent companies such as WorldCom, Enron, Merrill lynch and Martha Stewart portrays the lack of corporate ethics. The failure of such business has seen an increased pressure to incorporate ethics in corporate governance....   [tags: moral principles, economic system]

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Research on the Importance of Corporate Governance

- Context and Background One of the foremost objectives of any business is profit maximization; each and every organization wants to run a profitable and sustainable business activity alongside satisfying the needs of its customers. It wants to set a mark, and be differentiated amongst its competitors whilst increasing its market share value. However in regards to the prospects of profit maximization, every business must ensure that it adheres to a strict code of conduct, enforce internal controls and abide by set rules and regulations....   [tags: business, profit, standards]

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Report and Analysis of Corporate Governance

- Introduction The increased incidence of the economic crisis in affect to all the world economy, especially the leading developed country, United States and Britain in1980’s (Weir & Laing, 2001) and has become to importance of corporate governance and also in developing countries (Rasiah, 1999), The economic loss and damage of investment of investors are the result of inefficiency of corporate governance, which caused of lack of the inspection and monitoring the actions of management and directors should protect the interests of the shareholder from inappropriate behavior that is include dishonest, misconduct or even distort the number in financial statements to mislead the stakeholders make...   [tags: Theory, Corporations]

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The Importance of Corporate Governance

- ... In the past, the chairman or the CEO were known to be friends and colleagues from within the company’s board, and gained their position from whom they knew, and not as a result of skill and expertise nor from what they were capable of contributing to the board and the company as a whole. The appointment of independent directors became very necessary, as shareholders looked for a way by which management became more responsible and accountable, and as such; the need for independent directors, who would not only checkmate the excesses of the board of directors, but also have the interest of the company and the shareholders at heart....   [tags: combined roles, management]

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History of Corporate Governance

- What is Corporate Governance. Corporate governance is the policies, rules and regulations, by which a corporation shapes the way corporate officers, managers, and stakeholders perform their duties to create wealth for the entity. According to Lipman (2006), good corporate governance helps to prevent corporate scandals, fraud, and potential civil and criminal liability of the organization (p. 3). Most companies, whether formal or informal, have some type of corporate governance for the management to follow....   [tags: Business Management ]

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Corporate Governance and Ethics

- As a CEO of a corporation there is nothing more rewarding then maximizing the wealth of your shareholders, in addition, to increasing the value of the firm. However, it should not be done unethically and jeopardize the financial, social status as well as the reputation of the company, ultimately causing them to suffer in the end. There are systems put into place to avoid such acts that are generally overseen by the board of the directors of organization. In most companies the board of directors consists of shareholders or former employees of the company....   [tags: Business Ethics ]

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Preventing Fraud - A check signer's responsibility

- Over the past fifteen years the accounting profession has been hit with a number of scandals. Many of the accounting scandals were due to the attitudes and actions of some of the top executives at some of the largest accounting firms and financial institutions. Their actions led to company closures, clients enduring difficulties and stock market failures. The profession which was once known as a highly trustworthy profession has had their ethical, technical and moral standards questioned. Many of the scandals led to changes in the profession....   [tags: Accounting Profession, Scandals]

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Corporate Accountability

- Corporate Accountability Table of Contents Page 1.0 Introduction…………………………………………………………………….3 2.0 The UK and the USA approaches………………………………………………3 3.0 Critical Evaluation of the use of the different Approaches…………………....4 3.1 The UK Rule-based Approach…………………………………………...4 3.2 The U.S.A Principle-based Approach……………………………………6 4.0 Evaluation of the reflection of specific systems…………………………………..7 5.0 Conclusion……………………………………………………………………….....8 Corporate Accountability 1.0 Introduction Although the definition of corporate governance varies from one person to another, it is indicated that the 1992 United Kingdom Cadbury Report as well as the South African King Report of 1994...   [tags: Business Management ]

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Corporate Ethics

- The board of directors is also highly influential to a corporation and should therefore also be held accountable for supporting a corporation’s ethical code of conduct. The board of directors is responsible for looking out for the best interests of shareholders (Cross & Miller, 2012). The board of directors was designed to monitor executives, however in practice this is not always the case (Cross & Miller). Obviously this is monitoring is a necessary duty. A proposed change to ensure that the board of directors is monitoring the corporation’s top executives is to require that the board submit quarterly a report on the financial information of the corporation as provided to the board by t...   [tags: Business Ethics ]

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Corporate Governance and Social Responsibility in Business

- 1.0 EXECUTIVE SUMMARY 2.0 INTRODUCTION TO CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY As a result of modern corporate scandals and rapid development of international business environments, social responsibility (SR) has become a key aspect of corporate competitive contexts. (Brammer, Williams and Zinkin, 2007). Businesses are under increasing pressure to incorporate SR amongst their profit-driven aims and have become increasingly accountable for their social and environmental actions. Increased interest in CSR developed in the mid 1990s as consumers began to lack their former trust in companies due to both environmental and financial scandals and it became noticeable that society was m...   [tags: Social Responsibility Essays]

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Institutional Investors’ Role in Corporate Governance

- ... In some situations, institutional investors have used their power to influence decisions to replace top management. For example, Fidelity Investments once took control of a corporation by assigning one of its employees as the new CEO in order to turn the company around. In these instances, institutional investors have been able to speak their opinion, as a shareholder, and have been able to make a change that otherwise might have gone unnoticed. This type of positive involvement in corporate governance is a new type of influence that shareholders never used to have....   [tags: capital markets, New York Stock exchange]

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Corporate Responsibility & Ethical Business Conduct

- In 2002, former Enron CEO, Jeffery Skilling, received a twenty-four year prison sentence and ordered to pay $45 million in restitution. When questioned after the sentencing, he was quoted as say, “Of course I feel bad – I feel horrible, but that’s not to say I feel I did anything illegal” (PBS New Hour, 2008, video supplement). This profound mindset, sadly, was indicative of the mentality of many corporate officers at that time. In 2002, the Sarbanes-Oxley Act was passed. Its origin was triggered by a serious of high profile corporate scandals, none of which was more damaging than the exposed corrupt behavior, displayed by those in positions of power and leadership, at Enron Corporation....   [tags: Corruption, Sarbanes-Oxley Act ]

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Corporate Social Responsibilty

- Corporate social responsibility (CSR) involves going beyond the interests of the firm and requirements of law to involve itself social acts (McWilliams and Siegel, 2001), yet Vogel (2005) claims that regulation is required to ensure that companies comply with a standard of CSR. Unethical practices create negative images of organisations, however through adopting CSR; profitability may be increased through the positive image that society creates (Pava and Kraus, 1997). While Friedman (1970) argues that corporations are responsible for obtaining shareholder’s funds in a profitable and legal way and therefore should not engage in corporate philanthropy....   [tags: ethics, business, strategies]

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Corporate Social Responsibility : Case Study

- Corporate Social Responsibility: Essay Question 1 Branden Bilicki BA400 01/21/2015  In the corporate world, scandals are always happening, and corporations are constantly working to avoid any cases of wrong doing. Most corporations teach their employees about ethics and corporate social responsibility (CSR), but there are steps to be taken to further engrain those same ethics into employees, and that is to expose students in University to corporate social responsibility. Without the implementation of CSR into university classwork, many students will enter the workforce without any form of training or exposure to CSR....   [tags: Ethics, Business ethics, Critical thinking]

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Corporate Goverance: How to Help with Fraud

- Agency theory, stakeholder theory, stewardship theory and transaction cost economics are the main theories that influence the development of corporate governance. The corporate governance can be drawn from a variety of disciplines and areas such as finance, economics, management, accounting rules, legal and regulatory, organization behaviours, etc. It express concerns in both internal aspects of the company (monitoring internal control & board structure) and the external aspects (eg. relationship of labour policies, role of multi shareholders and other stakeholders) besides protections of minority shareholder’s right (Claessens and Yurtoglu; 2012; Mallin, 2013)....   [tags: design, implementation, maintenance]

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Corporate Social Responsibility: Now and Then

- With the recent corporate scandals involving such companies as Enron and Martha Stewart, the concept of corporate social responsibility (CSR) has once again made its way to the forefront of contemporary management ideologies. However, CSR itself is not a new concept. In fact, societies as far back as the Ancient Mesopotamians (circa 1700 BC) incorporated CSR in their businesses. “King Hammurabi introduced a code in which builders, innkeepers or farmers were put to death if their negligence caused the deaths of others, or major inconvenience to local citizens.” With each new “Enron” managers of similar corporations are suddenly placed in the spotlight, causing plans to be put into action to...   [tags: Social Responsibility Essays]

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Scandal In Corporate America: An Ethical, Not A Legal, Problem

- Are businesses in corporate America making it harder for the American public to trust them with all the recent scandals going on. Corruptions are everywhere and especially in businesses, but are these legal or are they ethical problems corporate America has. Bruce Frohnen, Leo Clarke, and Jeffrey L. Seglin believe it may just be a little bit of both. Frohnen and Clarke represent their belief that the scandals in corporate America are ethical problems. On the other hand, Jeffrey L. Seglin argues that the problems in American businesses are a combination of ethical and legal problems....   [tags: Business Ethics]

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Corporate Compliance

- Corporate Compliance The United States corporate governance system must seem to be in terrible shape. Top executive compensation is also routinely criticized as excessive by the press, academics, and even top Federal Reserve officials. These failures and concerns in turn have served as catalysts for legislative change— in the form of the Sarbanes-Oxley Act of 2002(SOX) — and regulatory change, including new governance guidelines from the NYSE and NASDAQ. The move toward shareholder value and increased capital market influence has also been apparent in the way corporations have reorganized themselves....   [tags: Business Management Analysis]

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Corporate Compliance

- Corporate Compliance Introduction When companies are facing issues dealing with corporate compliance, implementing a system to deal with the compliance and corporate governance issues is the best opportunity for the companies. The companies should develop a process to analyze alternatives and integrate the appropriate opportunity into the companies system. The process includes defining and implementing compliance steps and process. Next, the companies will recommend a preventative solution that incorporates risk mitigation....   [tags: Auditing Finance Business Regulation]

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Corporate Compliance

- Introduction Senior executives have long sought ways to better control the enterprises they run. Internal controls are put in place to keep the company on course toward profitability goals and achievement of its mission, and to minimize surprises along the way. Corporate governance has become a top priority for boards of directors, management, auditors, and stakeholders. How can Enterprise Risk Management (ERM) be integrated with internal controls and corporate governance to effectively minimize risk for an organization....   [tags: Business Management Organization]

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Corporate Compliance Report

- In the early years of the Twenty-first Century the United States economy was rocked in part by large corporate scandals that resulted in huge losses for many stockholders and dissolved much investor confidence. In response to these unfortunate incidents of fraudulent financial reporting, laws were passed and committees were organized in an effort to prevent them from happening again. Due to earlier scandals however, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) was formed in 1985 to initially research and create a report on forming integrated frameworks of internal corporate control....   [tags: Finance Accounting Regulation Business]

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The Sarbanes-Oxley Act and Corporate Coruption

- Most of us think about the Coca-Cola Company in a positive light because it continues to bring us what is arguably the tastiest soft drink around. One would expect that a company that describes itself on its website as “a company that exists to benefit and refresh everyone it touches” and has been so successful for years would have a corporate culture and code of ethics that matches this image. However, a closer look at the Coca-Cola Company, its corporate culture and allegations of corruption paint a less than rosy picture of the soft drink leader....   [tags: essays research papers fc]

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Corporate Compliance Report

- In the wake of high-profile corporate scandals and subsequent regulatory legislation, reporting internal controls has become a requirement. These requirements have led to organizations viewing risk management as an area of vital importance. Best practice organizations have for years looked to the Committee of Sponsoring Organizations of the Treadway's (COSO) Internal Control Integrated Framework as the standard to build a solid system of internal controls (Managing Risk, 2003). Formed in 1985, COSO is a voluntary and independent private sector organization that sponsored the National Commission of Financial Reporting....   [tags: Business]

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Business Ethics in Today's Corporate World

- Business Ethics in Today's Corporate World Business ethics is part of today’s society whether you like it or not. There are many things happening in today’s corporate world that needs to be opinioned. Are ethical judgments merely a matter of personal opinion. Yes because we live in a free society I think that most ethical judgments are based on a matter of what you believe in. Everyone has the right to think differently. There will also be similarities and differences in your ethical point of view because of religion, race, and education but I don’t think it will be much different than someone else’s opinion if it all comes down to these factors....   [tags: Business Morals Ethical Judgements Essays]

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Corporate Governance Code and the Satutory Provision Responsible for Regulating listed PLC’s

- This essay would be discussing the extent to which the corporate governance code and the statutory provision responsible for regulating listed PLC’s have addressed the concerns arisen from recent corporate scandals. Corporate governance is the “framework of rules and practices by which a board of directors ensures accountability, fairness and transparency in the firms relationship with all its stakeholders” . The stakeholders include financiers, customers, employees, management, government and the community....   [tags: business]

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Corporate Governance Evaluation and Rating

- Corporate Governance Evaluation and Rating Nowadays it is not unusual for an investor to reflect governance matters while deciding about investment determinations. As a result, numerous corporations are in the business of rating corporate governance procedures of public companies. Some corporations offer credit ratings in addition to governance ratings. As far back as the 70’s organizations have dealt with business ethics in a host of different approaches which includes the institution of compliance platforms and supervisors, adding of ethics boards, initiating codes of conduct, preparing, and distribution of company mission and values....   [tags: Business, Corporations]

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Government Oversight and Corporate Ethics

- Ethical corporate behavior has been a recurring issue of public policy. Recent events have brought this issue into sharp focus beginning with the Enron scandal in 2001 and more recently the financial crisis of 2008. Subsequent regulation such as the Sarbanes-Oxley act seem to be in reaction to the public clamoring for government action in the wake of painful economic outcomes. A deeper examination of the events leading up to Enron and the financial crisis both seem to indicate that government agencies were asleep at the switch....   [tags: Business Ethics ]

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- Imagine a boardroom of these corporate executives, along with their lawyers, accountants, and investment bankers, plotting and planning to take over a public company. The date is set; an announcement is only weeks away. Once the meeting is over, several phone their brokers and instruct them to purchase tons of stock of the Target Company. When the buyout is announced, the share price zooms up and the investors drop these stock shares for millions of dollars in profits. Insider trading is perfectly legal....   [tags: essays research papers fc]

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Criminalization of Corporate Behavior

- Crime takes place in all aspects of society. From criminal, to civil, to corporate, there are many different types of crime. Corporate Crime, also known as white-collar crime, is a crime committed while employed with a corporation. It is a collective and organized effort to deceive investors and to serve the economic interests of a corporation, and/or its management, even if unlawful. Whenever employees of a corporation use the corporate assets or infrastructure to commit a crime intended to boost profits, the corporation can be held liable....   [tags: Crime ]

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Difference Between Agency Theory And Stewardship Theory

- ... Corporate governance involves a set of relationships between the company’s management, its Board of Directors, its shareholders and other stakeholders, and also provides a balance of interests of all stakeholders of the corporation (Journal of Internet Banking and Commerce, 2016). It’s a system of rules, practices, and processes by which a company is directed and controlled. This system is established by a Board of Directors. The Board of Directors is a group of individuals that are elected to act as representatives of the stockholders to establish policies, make decisions on major issues, and looks out for the financial well-being of the company....   [tags: Management, Corporate governance]

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About the Sarbanes-Oxley Act

- Between the years 2000 and 2002 there were over a dozen corporate scandals involving unethical corporate governance practices. The allegations ranged from faulty revenue reporting and falsifying financial records, to the shredding and destruction of financial documents (Patsuris, 2002). Most notably, are the cases involving Enron and Arthur Andersen. The allegations of the Enron scandal went public in October 2001. They included, hiding debt and boosting profits to the tune of more than one billion dollars....   [tags: Corporate Fraud, Business Ethics ]

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Corporate Crime

- Between April 20th 2010 and July 15th 2010, BP's drilling rig explosion in the Gulf of Mexico was the biggest oil spill in the history of the petroleum industry. Eleven people died. # of days later and $ in fines, BP stopped the spilling of oil into the ocean. According to the U.S. Fish and Wildlife Service (USFWS) reported on September 17th, “in terms of land animals, at least 3000 have died, tens of thousands of others have been affected [including] millions of sea organisms [although] there is no accurate count”....   [tags: History, Petroleum Industry, Oil Spill]

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The Case of WorldCom

- Equal Pay for Equal Work Ethics has been around since the first humans could understand the concept of right and wrong. More specifically in accounting the most ethical decision doesn’t always produce the most outcomes for a company. For example, falsifying documents or information to improve the overall image of the company to the public. For this reason one can see why someone might be tempted to this type of unethical behavior. WorldCom can be the perfect example of what can go wrong when these types of behaviors are going on within a business....   [tags: business ethics, scandals]

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The Depiction of Corporate America in The Movies Big and Working Girl

- The Depiction of Corporate America in The Movies Big and Working Girl Opinions and views that take place in Hollywood movies are intended to be realistic. To the viewer, the plots and stories seem so believable that reality becomes faded and a simulated world becomes present inside their minds. In the movies Big and Working girl, Corporate America is portrayed actually the way it is. The atmosphere in Corporate America has progressed toward a higher complexity. The education and skills needed to succeed must be met to rise the corporate ladder....   [tags: Papers]

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Overview of the Sarbanes-Oxley Act (SOX)

- The Sarbanes-Oxley Act, frequently known as the SOX. The act was passed on in 2002 as a federal United States law. The law was drafted in response to the numerous numbers of financial scandals performed by high profile corporations such as Johnson & Johnson. The action has created a new company standard of responsibility in order to protect the valued stakeholders, as well as the public, from the deceitful practices of various organizations. The Sarbanes-Oxley Act...   [tags: federal US law, financial scandals]

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Tesco and The Horsemeat Scandal

- Introduction This essay attempts to critically evaluate Tesco with regards to the Horsemeat Scandal. The aim is to critically asses this event through the application of theories and readings. A brief background on how the scandal arose will be provided. Key question that must be asked are did Tesco misbehave at all. And if they did, how could they have been able to justify their actions to themselves. According to Cooper and Owen (2007) accountability is a somewhat unclear term. This is not because the exact definition of being accountable ‘required or expected to justify actions or decisions; responsible’ (, 2014) is hard to understand, it is because the question stil...   [tags: food safety and corporate responsibility]

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Tactical Decision Making

- Tactical decision making is becoming much more prominent with the renewed stress on ethics and ethical behavior, especially in the world of accounting. Corporate ethics are taking center stage within the business world due to the various accounting scandals and their consequences. Some examples of these scandals include Worldcom, MCI, Enron, and Arthur Andersen. Since these incidents took place, the government has implemented various new regulations that are designed to deter and prevent fraud and unethical behavior, but it is up to the corporations themselves to think tactically and base their operational decisions on specific ethical tactics....   [tags: ethical behavior, corporate ethics]

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Tyco & the Price of Unethical Behavior

- Unethical Perspectives: Tyco & the Price of Unethical Behavior Prior to what has become known as the Tyco scandal, the company was among one of the largest conglomerates, with a market capitalization of more than $1 billion. The CEO of the company Dennis Kozlowski was thought of as one of the top 25 manager of the year, and had been included on a list of people to watch by Fortune Magazine because of his turn-around of the company’s sprinkler-system division at the beginning of his rise into management....   [tags: financial scandals]

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Innovative Approaches to Corporate Management

- Innovative Approaches to Corporate Management A company is only as strong as its weakest link. In order for it to succeed in today’s competitive market, the company will have to depend on the acquisition and application of good, relevant knowledge on which to base its decisions. For that to happen, good and sound decision making has to be a part of everyday business. Therefore, corporate managers have taken innovative approaches to corporate management by creating consistency and unity towards a purpose, along with an environment where both the company and employees can excel....   [tags: Business Management Essays]

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Case studies in Corporate Social Responsibility and the Practice of Outsourcing

- Despite becoming more common (Pries-Heje, Baskerville, & Galina, 2005), the practice of outsourcing is often reacted to with knee-jerk negativity. It is construed to take away jobs, and drain a local economy of the business created by the multiplier effect. In the United States, more than 8 million manufacturing jobs have been outsourced since the 1970s (Spoerri, 2012). Other concerns are: loss of management control, hidden costs, threat to proprietary security and confidentiality, lack of quality assurance, being tied to the fortunes of another company, and bad publicity should things go wrong (Bucki, N.D.)....   [tags: Business Ethics, Globalization]

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corporate governance

- Corporate governance is a very poorly defined concept; it covers so many different economic issues. It is difficult to give a first class definition in one sentence. Corporate governance has succeeded in attracting a great deal of interests of the public because of its obvious importance for the economic health of corporations and society in general. As a result, different people have come up with different definitions that basically mirror their special interest in the field. It is difficult to see that this 'disorder' will be any different in the future so the best way to define the concept is perhaps to list a few of the different definitions rather than just mentioning one definition....   [tags: essays research papers]

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Barclays plc: Socially Responsible Corporate Behaviour

- Barclays plc: Socially Responsible Corporate Behaviour How does Barclays plc fulfil its obligations to their stakeholders in terms of ethical business practice and socially responsible corporate behaviour. According to The Institute of Business Ethics (cited in MORI, 2003), “80% of the public believe that large companies have a moral responsibility to society but 61% also thought large companies don’t care”. Why this shocking conclusion. Due to major accounting scandals such as Enron and WorldCom the public’s confidence in organisations have decreased....   [tags: Business Management Studies]

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Financial Reporting : The Sarbanes Oxley Act

- ... The Sarbanes Oxley Act is broken down into eleven titles and established a public accounting board. Sarbanes Oxley’s Strengths and Benefits Sarbanes Oxley has provided considerable benefits and has helped strengthen confidence back into investors. Market Benefits Since the implementation of Sarbanes Oxley, markets have seen a beneficial result. HBS associate professor, Suraj Srinivasan, stated, “Markets have been able to use the information to assess companies more effectively, managers have improved internal processes, and the internal control testing has become more cost-effective over time” (Hanna, 2014)....   [tags: Corporate governance, Enron, Board of directors]

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Comparative Analysis Of Three Big Companies

- ... WorldCom has filed for Chapter 11 bankruptcy in 2002. Health South (Lupica, 2014), one of the biggest healthcare provider, committed fraud by increasing the value of their earnings on papers and increasing the values of their stock prices. Many investors were fooled by the company’s accounting figures. Health south used to fill the gap of actual figures and target figures by making false entries in their accounts. After this fraud got exposed, many high level executive were sent to jail who spent their precious years cleaning toilets....   [tags: Enron, Enron scandal, Accounting scandals, Fraud]

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The Sarbanes-Oxley Act: Protecting Corporate Assets

- Internal Controls. Kind of like a brick wall, or a fire wall on a computer. Internal controls act as a way to keep a company and its assets safe, as well as make sure that the company maintains complete and accurate accounting records. Internal controls are in charge of the overall well being of a company from its assets to its employees, even to its sales and reputation. A lot of things are involved with internal controls such as; Sarbanes-Oxley Act, stock well being, well being and safety of assets and accounting accuracy....   [tags: SOX Act, Internal Controls]

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The Effect of Unethical Methods in the Corparate World

- Corporate wrong doing in the United States helped in the collapsed of numerous corporations as it was the case that happened in 2002 with Enron and others. Currently, there are many people who are hesitant to trust in anything they might hear regarding the integrity of certain corporations. In 2002, we experienced what happened when corporate integrity gets ignore. The American people lived through a scandal that rock our nation economic with companies like Enron and WorldCom to include other, as being responsible for their employee disregarding corporate integrity by their CEOs and greeted executive’s decisions....   [tags: corporate, inegrity, unethical]

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WorldCom and The Mississippi Scheme Scandals

- WorldCom and The Mississippi Scheme are both large financial scandals that have occurred. WorldCom was a telecommunication company that overstated their cash flow by reporting $7.6 billion in operating expenses as capital expenses. WorldCom is the largest accounting scandal in US history as of March 2002. The Mississippi Scheme was a business scheme that destroyed the economy of France during the 1700’s. The scheme involved the loss of paper money’s purchasing power as a result of asset inflation....   [tags: Finance Accounting Scandals Fraud White Collar Cri]

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Corporate Governance : The Relationship Between Shareholders, Management And The Board Of Directors

- ... If a financial institution owns a large amount of stock in a manufacturing company, as an example, and that financial institution beings to lose money, it may elect to sell these shares of the stock to generate money. This would cause a domino effect in the economy. When a large number of shares of an individual company is liquidated quickly, the price per share will drop and result in the value of the company dropping. The company may lose their ability to borrow money for materials or for long term growth plans and will likely lose potential investors who see the stock as risky....   [tags: Corporate governance, Corporation]

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Corporate Social Responsibility ( Csr )

- ... If Corporate Social Responsibility is properly maintained and emphasized by companies, it can benefit the society, economy and corporate sustainability. It can also be cost efficient to companies. also the environment . But above all effect (CSR) varies companies to companies. Where some corporates seem to make all sorts of benefits from their coporate social responsibilities but few of them are also having loss by trying to maintain CSR without properly evaluating their resources. (Porter and Kramer 2006) has said The inferences where corporates need to evaluate their CSR actions to figure out if they add value....   [tags: Corporate social responsibility]

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Corporate Social Responsibility For The Management

- Enterprises lay high emphasis on corporate social responsibility instead of being profitable tools. It is essential for all the enterprises to focus on corporate social responsibility which can help the organization creates long-term sustainability for corporate success. More specifically, corporate social responsibility can be referred as a process which is aim to embrace responsibility for the organization’s actions. Moreover, it can have a benefit to the people who are regarded as stakeholders, like employees, consumers and communities, which is based on its activities....   [tags: Corporate social responsibility]

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Corporate Governance at Satyam: The Satyam Scandal

- Satyam Board’s was mainly comprised of ‘friendly’ directors who were not in the position to question the decisions adopted by the managers. Not only they were pro-management, but they were also incapable of acting when it was quite obvious that the company was facing some severe financial distress. Out of the nine board directors six were ‘independent’ directors. These independent directors clearly did not act on the interest of shareholders and other stakeholders, even when it was obvious that there were fraudulent acts within the company....   [tags: external auditing, fraudulent acts]

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Corporate Culture and Organizational Behaviour

- TABLE OF CONTENTS 1.0 INTRODUCTION…………………………………………………………..Page 1 1.1 Background of the Study…………….…………………………Page 1 1.2 Purpose of the Study…………………………………………….Page 2 1.3 Scope of the Study…………………………………….………....Page 2 2.0 THE CONCEPT OF CORPORATE CULTURE……………….…...Page 3 3.0 ASPECTS OF CORPORATE CULTURE…………………………..….Page 5 3.1 Shared Assumptions……………………………………………...Page 5 3.2 Shared Values………………………………………………………..Page 5 3.3 Shared Socialization……………………………………………….Page 5 3.4 Shared Symbols and Language……………………………….Page 6 4.0 TYPES OF CORPORATE CULTURE………………………………………...Page 7 5.0 FACTORS AFFECTING CORPORATE CULTURE…………………...….Page 10 5.1 Organizational Climate…………………………………………...Page 10 5.2 Orga...   [tags: Corporate Culture Essays]

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The Theories Of Corporate Governance Failures

- Issues related to Corporate Governance The corporation is a legal construct that came about as a way to accumulate and devote capital to, and share risk for large-scale entrepreneurial activities that would be difficult to fund otherwise. Shareholders take the brunt of the risk of their investments and received the leftover profit in the means of share value or dividends. This becomes a key metric for assessing whether the corporation is effective and efficient in its activities. (Holly J. Gregory, 2014) The theories of corporate governance failures come in two theories in 2015....   [tags: Corporate governance, Management]

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The Us And Australian Corporate Backgrounds

- The US and Australian corporate backgrounds both differ in industry and company level. With respect to the former, differences are observed in the industry mix of firms characteristics across the two economies. Specifically, a greater concentration of mineral resources public companies is observable in Australian market. For instance, these firms constitute 26% of our sample for the period 2003-2013. With respect to the firm-level differences are also highlighted in both economies. For instance, Schultz et al....   [tags: Board of directors, Corporate governance]

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Corporate Social Responsibility : Csr

- ... Second, they weight organizations to consider corporate social obligation in non-specific courses rather than in the way most suitable to their individual techniques. In an article, Michael Porter and Mark Kramer propose an on a very basic level better approach to look at the relationship in the middle of business and society that does not treat corporate development and social welfare as a zero-aggregate diversion. They present a system that individual organizations can use to recognize the social results of their activities; to find chances to advantage society and themselves by reinforcing the aggressive connection in which they work; to figure out which CSR activities they ought to a...   [tags: Corporate social responsibility]

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Athetic Scandals: NCAA Scandal

- There has been a lot of athletic scandals in colleges in most parts of the world. These scandals have been as a result of the coaches and the directors of athletics in the colleges failing to take the full force of the law and giving their players freedom to do everything even if it is against the law. One of this fatal scandals is the Baylor university basketball scandal that occurred in the year 2003. This scandal involved the players and the coaches of the team. The scandal left one player dead and the other imprisoned for thirty five years....   [tags: NCAA rules, coaches, players]

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Japan: Corporate Governance Research Methodology

- In our study of corporate governance and its impact on the overall economic and business environment, we have considered the example of Japanese Corporate governance and have compared it with other systems. We will study the comparative performances of the companies working in the Japanese system of corporate governance and the organizations working in other systems of corporate governance, primarily that of the United States. We have discussed the concept of corporate governance as well as management practices in detail and have tried to identify the difficulties and the barriers the company’s usually face while following a specific system of corporate governance....   [tags: japan, corporate governance, business]

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1327 words | (3.8 pages) | Preview

Competitive Instinct: New Orleans Saints Bounty Scandal

- ... The assistant head coach was suspended for 6 games and fined $100,000. Also their were four players who got suspended by the league but only one player got suspended for the entire season and that was Linebacker Johnathon Vilma. Even though the Saints appealed the suspensions of the GM and the coaches they all got denied and all the rulings stayed. The players however also appealed in which they won and were reinstated but after 1 game the commissioner appealed and all the suspensions were reinstated to the players....   [tags: NFL scandals]

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926 words | (2.6 pages) | Preview

Corporate Social Responsibility

- Corporate Social Responsibility (CSR) in the corporate event sector can be for everyone operating in this sector a basis for innovations, opportunities and competitive advantages with regard to social, environmental and economic aspects. This essay deals with the question what CSR is and how it influences the corporate event industry in the UK, as well as with the strategies companies have to do to generate a sustainable company structure and how they can advise their workforce to improve responsibility....   [tags: Influence on Corporate Event Industry]

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Corporate Governance Analysis

- Corporate governance analysis Governance is a form of investor protection which might be expected to influence how investors behave. In the context of emerging markets where many of the institutions protecting investors in more developed markets may not be fully present, it is important to obtain a better appreciation of how emerging market funds use governance in the investment decisions. Therefore, we choose IOI Group because have good governance that builds our trust towards them. IOI Group maintains a strong leadership through sound governance and ethical business conduct....   [tags: corporate culture, investor, markets]

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1014 words | (2.9 pages) | Preview

Corporate Social Responsibility (CSR), also known as Corporate Responsibility, and Corporate Citizenship

- Corporate Social Responsibility (CSR), also known as Corporate Responsibility, and Corporate Citizenship Because society is fundamentally based upon performance and profit, it is necessary to impart a sense of corporate social responsibility with regard to modern commerce. The ethical approaches of purpose, principle and consequence are integral components of business social performance; itemizing these contributions involves incorporating the interests of ethics and morality within the corporate structure....   [tags: Corporate Responsibility]

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The Analytical Contrast of Corporate Deviance in Differential Association and Strain Theory

- The applications of these theories encompass contributing social environments that are synonymous with the work ethics being fostered in corporate deviant behaviourisms. One ideology in particular, the “American Dream” is attacked as a promoter of this through its means of success being defined in culture as monetary gain and social status as the way of life (Schoepfer, 2006, p. 4-9). This mentality is adapted to the corporate world as a dominant coalition amongst business practices is developed whereupon a group of interdependent individuals who share a common interest remains dominant in its ability to force organizations to function in accord with their goals and knowingly abuse this uniq...   [tags: Corporate Crime]

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Merging Corporate Social Responsibility into Modern Marketing

- Marketing plays an important role for corporates. Successful marketing activities and strategies ensure customers are aware of products and services while make profits for the companies that offer those products and services. There are two key elements for a successful marketing activity: branding products and services for customers and making profits from the products and services. The current business world is facing fast changing business environment, rapid growth of technology, constantly shifting market shares and huge impact from globalization....   [tags: corporate business activities, strategies]

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The Role Of Corporate Governance For Improving Companies ' Performance

- The role of corporate governance in improving companies’ performance Content Introduction Article 1 Article 2 Article 3 Article 4 Reference List Introduction With economic development, the enterprise in the whole society 's economic system has become increasingly important role. Which is the result of an interaction. In terms of the development of enterprises, corporate governance as a system of company funds to ensure investors obtain the return on investment arrangements....   [tags: Corporate governance, Board of directors]

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Corporate Governance Practices Be Given Statutory Backing

- ... However, in the case of Kaisun Energy, Joseph hold both roles as the chairman and the chief executive officer, which will certainly lead to an unbalanced power and authority within the board level. The Corporate Governance Report, provided by Kaisun Energy, claimed that Joseph was nominated as the Chairman. Since the Remuneration Committee have not recruited an appropriate person to take the responsibility as a CEO, Joseph have to hold a concurrent post as an Acting CEO. Although the fact is Joseph both acting as the Chairman and Acting CEO, there can be exemption if company encounter the problem of finding a proper CEO....   [tags: Corporate governance, Board of directors]

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Analysis Of Jb Hi Fi 's Corporate Governance

- ... It was to become the biggest electronic retailer in Australia, this eventually came to fruition but not while he owned it. JB Hi-Fi was sold in 1982 and again in 2000 to a private bank equity. The goal of Barbuto was undertaken by management and in 2003 JB Hi-Fi was listed on the ASX. Their major competitor is Harvey Norman as they stock and retail very similar products and brands. 3. ASX’s Corporate Governance Principles In 2003, the ASX announced their Corporate Governance Council’s, Principles of Corporate Governance....   [tags: Corporate governance, Board of directors]

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Corporate Social Responsibility By Barbara Mroz Gorgon

- The main subject introduced in this article by Barbara Mroz-Gorgon is a challenge the modern companies have to undertake when approaching and implementing innovations on the basis of Corporate social responsibility as a response to dynamic changes of market environment. Moreover, this article provides fruitful examples of the particular innovations within the scope of corporate social responsibility, which are seen as a form of the tool. The strengths of the article can be perceived in the aspect of a coherent composition which brings the reader directly to the discussed point of the topic....   [tags: Corporate social responsibility]

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1507 words | (4.3 pages) | Preview

Defying the Odds: Becoming a Successful Corporate Lawyer

- Throughout modern civilization, the American republic is widely known for its dependency upon the realm of business. Equally as vital, looms the ever-present hand of the American law system. “All beings have their laws: the Deity…man his laws” (Montesquieu,1), this statement serves true in founding that law is consistently a necessary portion in society because all society desires law. As a consequence of the continual presence of law, careers aimed to interpret the crevices of laws, and to defend them, are synonymously as necessary in society....   [tags: business law, corporate America]

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1462 words | (4.2 pages) | Preview

Accounting Scandals: The ENRON Scandal in 2001

- Accounting Scandals: Accounting fraud refers to fraud that is committed by a company by maintaining false information about the sales and income in the company books, when overstating the company's assets or profits, when a company is actually undergoing a loss. These fraudulent records are then used to seek investment in the company's bond or security issues. By showing these false entries, the company attempts to apply fraudulent loan applications as a final attempt to save the company by obtaining more money from bankruptcy....   [tags: corruption, accounting frauds]

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1233 words | (3.5 pages) | Preview

Legal Regulation of Corporate Governance in the Role of Auditors

- INTRODUCTION In recent years, general public start to raise questions about the level of audit independence and the quality of audit information, especially after corporate collapses such as HIH, Enron and One.Tel where independent audit reports showed that the companies were making a profit, when in fact they were heavily in debt. This essay is to provide a brief overview of the current regulation of corporate governance in Australia in the role of auditors, and illustrate some gaps in the regulation with examples....   [tags: corporate governance, auditor regulation]

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Convergence And International Corporate Governance

- Find and summarise (in no more than 1000 words) some of the work that has been done by Katherine Pistor and others on Convergence, Divergence and ‘Path Dependency' of legal systems as it relates to International Corporate Governance. In recent years the issue of corporate governance has become a keenly debated topic in international finance. In developed countries, some of the biggest corporate collapses in history have brought about a change in focus. No longer are governments and lawmakers trying to deregulate and reduce the controls and disclosure requirements of corporations....   [tags: Corporate Governance]

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1057 words | (3 pages) | Preview

Corporate Social Responsibility

- Corporate Social Responsibility WALMART Table of Contents An Overview 2 Walmart Contribution & Activities in CSR 2 • Ethical sourcing 3 • Worldwide women’s economic empowerment 3 • Hunger relief 4 • Healthy food 4 • Giving 4 • Disaster relief 5 Criticisms 5 Labor and Employer Affairs “Illegally Firing and Punishing Employees” 5 Rapacious Pricing and Supplier Issues “Stop the Bullying, Walmart” 6 Final Words 7 References 8 An Overview Walmart is an American worldwide renowned retail corporation that runs chains of large discount department stores and warehouse stores which offers its customer a one-stop shopping experience around the world....   [tags: WalMart, Coporate, Contributions, Activities]

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1516 words | (4.3 pages) | Preview

Media Scandals Of The Media

- When looking into these approval ratings, it is important to note how these numbers differ between political parties. Although independent voters remained steady in their approval rating of thirty-eight percent, the Gallup poll shows that Democrats, who usually have a high level of trust in the media, are losing their trust in the media (McCarthy). The hit that Democrats have taken in their trust is not as high as the hit Republicans have taken. Democrats went from a high of seventy percent approval in 2005 to just fifty-four percent in 2014 (McCarthy)....   [tags: Journalism, Mass media, Media bias, Journalist]

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1641 words | (4.7 pages) | Preview

Corporate Governance, Audit Committe, and Director Independence

- Corporate Governance, Audit Committee & director independence A spate of shattering corporate collapses, particularly among large listed companies despite their annual reports and accounts have raised numerous issues in corporate governance. The corporate meteoric rise and fall was associated with serious deficiencies in its corporate governance, including weaknesses in internal control, financial reporting, audit quality, board’s scrutiny of management. The collapse of a number of businesses have several important lessons on the role of corporate governance in preventing corporate collapse with the subject of increasing regulatory measure....   [tags: Corporate Collapses, Annual Reports, Companies]

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1452 words | (4.1 pages) | Preview

Social Scandals in the Mystery Genre

- In the mystery genre one can agree that for a mystery to function as it does, it must have elements like a case that must be solved, a detective or someone who is playing as the detective, and, in most cases, murder. But in the short story “A Scandal in Bohemia,” by Sir Arthur Conan Doyle, a social scandal is a part of the theme, which is also seen in “Witness for the Prosecution,” by Agatha Christie and “Amber Gate,” by Walter Mosley. Just as a murder or a crime disrupts an aspect of society, a social scandal functions the same way....   [tags: Story Examples, Theme]

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1545 words | (4.4 pages) | Preview

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