MGM101H5 Lecture Notes - Lecture 6: Outsourcing, Eth, Information Market
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MGM101H5 Full Course Notes
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Document Summary
Bernie madoff; guilty to 11 federal felonies & nortel networks corporation; overstated revenue. Ponzi scheme- a type of investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Both the private sector and government and not-for profit sectors have had challenges in ethics. Defining an unethical behaviour involves accessing ethics within an organization at two levels; the individuals and the culture of the organization within which the individuals work. Business ethics has to do with right and wrong business behaviour. Ethics can be thought of as an invisible hand that guides each of us as we make decisions. Cost of money or lose revenue opportunities. Long term costs of ethical behaviour don"t get revealed for a while so short term gains are obtained but long term costs are left to decision maker.
