COMM 103 Lecture Notes - Lecture 10: Ponzi Scheme, Professional Code Of Quebec, Invisible Hand

• School: Queen's University
• Department: Commerce
• Course: COMM 103
• Professor: Gregory Libitz

Document Summary

Ponzi scheme: is a type of investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. I(cid:374) (cid:373)a(cid:374)y (cid:449)ays ethi(cid:272)s (cid:272)a(cid:374) (cid:271)e thought of as a(cid:374) i(cid:374)(cid:448)isi(cid:271)le ha(cid:374)d that guides us as (cid:449)e (cid:373)ake de(cid:272)isio(cid:374)s. Ethics: is a reflection of the moral principles or beliefs about what an individual views as being right or wrong. Individual motivations, cultural, and environmental upbringing, personal pressures, and lack of information or ignorance will all influence -positively or negatively- an individuals ethical behaviour. Some people strictly refer to law for ethics, others its about fairness. Society can influence the decisions by rewarding, or turning a blind eye to things. Integrity: is honesty, reliability, ethics and moral judgement. This is the most important skill you can bring to your workplace. For many organizations the responsibility for developing policies relating to values, ethics, and financial i(cid:374)tegrity lies (cid:449)ith the orga(cid:374)ziatio(cid:374)"s (cid:271)oard of dire(cid:272)tors.