Resisting Corporate Corruption 3rd Edition

Presents real world case studies exploring the complex challenges that cause ethical failures and the means available to overcome them with integrity. Resisting Corporate Corruption teaches business ethics in a manner very different from the philosophical and legal frameworks that dominate graduate schools. The book offers twenty-eight case studies and nine essays that cover a full range of business practice, controls and ethics issues. The essays discuss the nature of sound financial controls, root causes of the Financial Crisis, and the evolving nature of whistleblower protections. The cases are framed to instruct students in early identification of ethics problems and how to work such issues within corporate organizations. They also provide would-be whistleblowers with instruction on the challenges they'd face, plus information on the legal protections, and outside supports available should they embark on that course. Some of the cases illustrate how 'The Young are the Most Vulnerable,' i.e. short service employees are most at risk of being sacrificed by an unethical firm. Other cases show the ethical dilemmas facing well-known CEOs and the alternatives they can employ to better combine ethical conduct and sound business strategy. Through these case studies, students should emerge with a practical toolkit that better enables them to follow their moral compass. "This third edition to Resisting Corporate Corruption is a must read for all students of American capitalism and specifically anyone considering a career on Wall Street or in public company finance and M&A." —Sherron Watkins, from the Foreword

Resisting Corporate Corruption teaches business ethics in a manner very different from the philosophical and legal frameworks that dominate graduate schools. The book offers twenty-eight case studies and nine essays that cover a full range of business practice, controls and ethics issues. The essays discuss the nature of sound financial controls, root causes of the Financial Crisis, and the evolving nature of whistleblower protections. The cases are framed to instruct students in early identification of ethics problems and how to work such issues within corporate organizations. They also provide would-be whistleblowers with instruction on the challenges they'd face, plus information on the legal protections, and outside supports available should they embark on that course. Some of the cases illustrate how 'The Young are the Most Vulnerable, ' i.e. short service employees are most at risk of being sacrificed by an unethical firm. Other cases show the ethical dilemmas facing well-known CEOs and the alternatives they can employ to better combine ethical conduct and sound business strategy. Through these case studies, students should emerge with a practical toolkit that better enables them to follow their moral compass. Finally, the cases provide an in depth look at how a corporation becomes progressively corrupted (Enron), how the Financial Crisis was rooted in ethical decay at institutions as diverse as Countrywide, Goldman Sacks, Citigroup, Fannie Mae and Moody's, and at the ethical challenges that persist in the post-Crisis, post-Dodd-Frank environment.

As scandals at Enron, WorldCom, and elsewhere became public, American business schools came under attack for inadequate ethical formation of the country's up-and-coming managers. A less obvious but related problem has been the lack of realistic ethical training material. Now this author, a 32 year senior financial executive, has adapted the Enron story to address this pressing need. Drawing upon his own experience within a highly disciplined corporate culture, the author has extracted from the wreckage case studies that chart Enron's descent into fraud and ask students to consider how it could have been different. These 17 practical case studies don't just retell the Enron story - they select pivotal moments when key individuals faced decisions that could carry the firm across another threshold of ethical decomposition. Students will get the opportunity to stand in the shoes of the young Ken Lay as he pondered how to handle Enron's first trading scandal. They will have the opportunity to consider how to oppose Jeff Skilling's plans to introduce 'Mark-to-Market' accounting and Andy Fastow's ever-more aggressive use of 'Special Purpose Entities'. Finally, they will have a chance to reconsider the tactics adopted by those who did resist. Was, for example, Sherron Watkins right to take her concerns to Ken Lay, or should she have made her case elsewhere?

What makes the print book really unique and useful is the availability of a CD-ROM containing extensive solutions to all 17 case studies. The manual provides readers with practical solutions of how to resolve the ethics dilemma executives faced at Enron, as well as providing instructors with ideas of how to approach and teach the case studies. The Manual proceeds case by case and applies the methodology outlined in the book. The principal points of the methodology are fourfold: 1) Devising a clear statement of “What is the Ethical Case”? 2) Identifying potential personal consequences.3) Developing alternative business solutions.4) Drawing up a tactical plan of resistance, both to summon the resolve and to execute planned resistance with persistence.The cases are presented with real world complexity and the solutions are not obvious; this Manual does not flinch from tackling the hard issues and providing straight answers. The solutions here can be applied to any current or future business situation.

In recent years, the media have been full of stories about ethical decline. Illegal dealings have been uncovered in the banking and savings and loan industries as well as the highest levels of Congress and government administration. Even television evangelism has been seriously tarnished by scandal. Corporate Corruption is the first wide ranging book to turn the spotlight on the unethical and illegal behavior of America's giant corporations and their executives: the prestigious Fortune 500. While avoiding the undignified zealotry of tabloid muck-raking, this well-researched volume explores corporate abuse and examines the disparity between the facts of corporate misconduct and the glowing image that advertising and other media portray of these corporations. Marshall Clinard identifies the auto, oil, pharmaceutical, and defense industries as the major offenders. He devotes a chapter to each of these areas in addition to chapters on corporate violence, corporate bribery, and a final discussion of how to correct these widespread abuses. Although their massive productive capacities and innovative powers have contributed immeasurably to the high standard of living that many Americans enjoy, far too often corporations have abused the public trust, the people who use their products, their own employees and stockholders, the environment, and even the Third World that they profess to help. From illegally disposing of hazardous waste to defiance of health and safety standards to price-fixing, corporate violations cost hundreds of millions of dollars and thousands of lives. The magnitude of their offenses becomes clear when one considers that a single corporate offense may run into millions of dollars in losses, while the average cost of a burglary is $600 and the average larceny $400. In some cases, the cost of a single case of corporate misconduct may exceed a billion dollars. Having published three earlier books on corporate misbehavior and having received two grants from the U.S. Department of Justice to make specific corporate studies, Clinard is well-qualified to bring insight, experience, and unblinking scrutiny to what he describes as a story that must be told. Corporate Corruption is a must for anyone concerned about the widespread breakdown of ethics in contemporary society and the role played by large corporations when they abuse their power. It is also of interest to persons involved in business management, complex organizations, criminology, general ethics, and, in fact, to any responsible customer.

Essays discuss the Enron corruption trial and its reflection of American business practices, the unfairness of skyrocketing compensation for CEOs, and the need for higher ethics within businesses.

Corporate corruption is an ever-present, ever-evolving subject. This collection of essays allows readers to read both sides of each related topic. Students will analyze the impact of the Enron trial, how the media portrays corruption, whether legislation is effective to keep big business in check, and the impact of high CEO pay and rewards.

These books provide a range of opinions on a social issue; each volume focuses on a specific issue and offers a variety of perspectives, e.g., eyewitness accounts, governmental views, scientific analysis, newspaper accounts, to illuminate the issue.;; Greenhaven Press's At Issue series provides a wide range of opinions on individual social issues. Enhancing critical thinking skills, each At Issue volume is an excellent research tool to help readers understand current social issues and prepare reports.

In the post-Enron era, corporate corruption has increasingly featured on the research agenda. This informative book provides a novel approach by charting the actual causes of corruption. This highly topical volume demonstrates how agency (the decisions and choices of individuals) and structure (the contextual pressures in the business environment) can interact to result in the rapid escalation of corporate crime and corruption. By analysing and describing the social psychological dimensions of this escalation, the book prescribes preventive measures that can be adapted and implemented by business organizations. Loaded with case studies and prospective solutions, Charting Corporate Corruption will be valuable to post-graduates studying business ethics, sociology and psychology, and to researchers seeking new theories and concepts in this field.

This book presents the results of a two-year international research project conducted for the United Nations Office on Drugs and Crime (UNDOC) to investigate and provide solutions for reducing bribery and corruption in corporations and institutions. It starts with an empirical case study on the effectiveness of a set of self-regulation rules adopted by multinational companies in the energy sector. Second, it explores the context and factors leading to corruption internationally (and the relationships between domestic criminal law and self-regulation). Third, it examines guidelines for the adoption of compliance programs developed by international institutions, to serve as models for the future. The principle result of the book is a three-pronged Anti-Bribery Corruption Model (so called ABC Model), endorsed by the United Nations, intended as a corruption prevention tool intended to be adopted by private corporations. This work provides a common, research-based standard for anti-bribery compliance programs, with international applications. This work will be of interest to researchers studying Criminology and Criminal Justice, particularly in the areas of organized crime and corruption, as well as related areas like Business Ethics and Comparative International Law.