Worldcom Fraud TABLE OF CONTENTS WORLDCOM MISSION STATEMENT..........................................PG. 3 THE ETHICAL PRINCIPLES AND TENETS OF WORLDCOM ............PG. 4 THE BEHAVIOR OF WORLDCOM ADMINISTRATORS ....................PG. 5 WAS CYNTHIA COOPER A HERO?.............................................PG. 6 WHAT WORLDCOM DID NOT RECOGNIZE .................................PG. 7 THE CONCLUSION..................................................................PG. 8 WORKS CITED.......................................................................PG. 9 Mission Statement, background and how they did honor their statement WorldCom mission statement is to “Create a competitive advantage for WorldCom and contribute significantly to WorldCom's business success by promoting business practices that provide greater opportunity for a diverse supplier base." WorldCom was a company solely based on personal profits. There unethical practices were created to keep the company performance at an all time high. WorldCom was the world’s second long distance company. The company started in Missouri providing telecommunications locally. As the company grew, they began internet, international and global telecommunications. WorldCom had profits merely 32 billion dollars annually. WorldCom merged with MCI IN 1998 now becoming MCI WORLDCOM. WorldCom did not value their Mission statement because they did not provide greater opportunity to anyone other than themselves. The CEO’S profited and misleads their investors. WorldCom would have been able to supply a diverse base if the company would have focused more on the services they offered opposed to money they were stealing. WorldCom had the leading technology, res... ... middle of paper ... ...hows you what the influence of greed and moral weaknesses can do. All companies can benefit from this book, because within every company there is someone who has that has that desire. Lastly, many people could argue that this is only her point of view. But, no matter what they think, the falsified documents show it all. Works cited Cynthia Cooper, Extraordinary Circumstances, Hoboken, NJ John Wiley & Sons, Inc 2008 WIKIPEDIA http://en.wikipedia.org/wiki/MCI_Inc. Dennis Moberg and Edward Romar. "Worldcom1" SANTA CLARA UNIVERSITY 2003 http://www.scu.edu/ethics/dialogue/candc/cases/worldcom.html Russ McGuire, “WorldCom Deadly Culture” World Net Daily June 17, 2003 http://wnd.com/news/article.asp?ARTICLE_ID=33111 Luisa Beltran“WorldCom files Largest Bankruptcy Ever” CNN MONEY July 19, 2002 http://money.cnn.com/2002/07/19/news/worldcom_bankruptcy/
While the widely exposed and discussed trials of WorldCom's and Tyco's top executives were all over the media, one of the most interesting cases of securities fraud was happening without any public acknowledgement.
One of the women from the book, Carolyn Ann Davis, was convicted for Larceny by embezzlement. While reading the book she tells the awful tale of her childhood. Carolyn grew up poor which caused problems for her family, by not being able to pay bills and many other
MCI Case Analysis INTRODUCTION MCI is at a critical point in their company history. After going public in 1972, they experienced several years of operating losses. Then in 1974 the FCC ordered MCI's largest competitor AT&T to supply interconnection to MCI and the rest of the long distance market. With a more even playing field, the opportunities to increase market share and revenue were significant. In order to maximize this opportunity, MCI requires capital.
B) Create an even bigger welfare system that keeps people at the bottom rung of society, or C)incarcerate and enslave anybody who is too poor, too black, too Latino, etc. and force them to work for free for corporations that expose the very worst corners of our society.” This book has given me a sense of necessity to fight for equal treatment and justice for all people, regardless of race or other socio-economic status. This cannot be who we
Lockheed Martin is an organization that heavily relies on its defense contracts in order to generate revenue. In 2005, 95% of Lockheed Martin’s revenue came from the US Department of Defense, other US Federal government agencies and foreign military customers (Defense News, 2007). Lockheed Martin earns this revenue by winning government contracts. As previously noted, Lockheed Martin has a large customer base with the US Department of Defense. The company is the largest provider of IT services, systems integration, and training to the government (Lockheed Martin, 2008). Other customers that provide revenue for Lockheed Martin are international governments and some commercial sales of products and services (Lockheed Martin, 2008).
She explains the economy and even politics are greatly affected because we all read “How to Kill a Mocking Bird.” Not only is every aspect of our lives a lie, we put sanctions on our imagination, which causes a negative living cycle for everyone. She chooses to argue, through using 20 dollar words, that money is something that is affected by a couple of books that no one really cared that much about. She also chooses to argue that even writers live with a false hope that literature will survive, when it doesn’t
...ualities and influences we want to accept as truth instead of blindly accepting the book of myths. She encourages women to descend the ladder and find the “thing itself” and the meaning that thing has for each individual woman.
The first chapter in this book explains a business’ mission and values. When discussing the mission, Welch states that in order to create an effective mission statement, one must explain how they intend to win in that particular business. The key is profitability, “Delineate their strengths and weaknesses in order to assess when they can profitably play in the competitive landscape,” (Welch, 15). This means to define the business’ strong and weak points to evaluate where they can efficiently and profitably fit within that specific business sector’s scheme. In order to come up with the mission, one can receive input from any source, but one should especially listen to the intelligent ones from all of the different sectors. Although, it is the responsibility of the top management or whoever is held responsible for it, to put it in place, it is their “defining moment,” (Welch, 17). The mission is what a business plans to do to win and values are ...
Scharff, M. (2005). WorldCom: A Failure of Moral and Ethical Values. Journal of Applied Management and Entrepreneurship .
In modern day business, there can be so many pressures that can cause managers to commit fraud, even though it often starts as just a little bit at first, but will spiral out of control with time. In the case of WorldCom, there were several pressures that led executives and managers to “cook the books.” Much of WorldCom’s initial growth and success was due to acquisitions. Over time, WorldCom discovered that there were no more opportunities for growth through acquisitions when the U.S. Department of Justice disallowed the acquisition of Sprint.
Clearly Polycom’s success does not just stem from quality products and services, but also from the employees who are in the trenches every day; creating new products, increasing productivity, maintaining and increasing customer satisfaction, excellent customer service, etc. Foresight, innovation, and strategic planning are a daily routine to keep the company a successful competitor in the market. It is without a doubt that Polycom needs qualified leadership. High caliber leadership/management is vital to successfully run a global enterprise of this statute. Constant re-organization and product structure changes are necessary to adapt to current and future consumer demands. I interviewed one of the leading managers at Polycom to find out what it takes to keep the machine rolling and what the typical duties of a manager entail.
...ent expense the year it incurred. Due to the reporting error, in 2001 $3.055 billion was misclassified and 4791 million in the first quarter of 2002 (Law Maryland). In order to avoid getting caught, WorldCom was trying to be slick by leaving some line costs as current expense so that the error in classifying would not be easily detectible. This error in classifying expenses cause WorldCom to increase net income and assets. This fraud was found by the companies internal audit, Cynthia cooper, on May 2002. This detection was not good news to Arthur Anderson as they were the outside auditors of WorldCom. Anderson had already been affected by Enron scandal and neglecting to do to their job correctly. But with WorldCom they claimed that the chief financial officer Scott Sullivan did not tell them about the line costs being capitalized and they were unaware of this fact.
...e relationship with men, as nothing but tools she can sharpen and destroy, lives through lust and an uncanny ability to blend into any social class makes her unique. Her character is proven as an unreliable narrator as she exaggerates parts of the story and tries to explain that she is in fact not guilty of being a mistress, but a person caught in a crossfire between two others.
Unattributed, (2009, April 187). Combat Fraud of Almost $1 Trillion, Retrieved March 03, 2014 from Internet site http://ethicaladvocate.blogspot.com/
The mission statement of the company was “As we grow as a company, it has become more and more important to explicitly define the core values from which we develop our culture, our bran...