USF Business Ethics Discussion

User Generated

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Writing

University of South Florida

Description

Choose two articles (hard copy or digital) pertaining to current business ethics related issues. Use reliable, vetted sources only - no blogs. Make sure your articles focus on ethical issues regarding business and society or business and government and write about them. ARTICLES MUST FOCUS ON BUSINESS ETHICS/ACTION/RESPONSIBILITY. Your selected article(s) may have a Florida, US or international focus. Please choose two of those three areas. (For example, do not use two national articles.) All articles must be published after the date of the first day of class (16th of January 27, 2020). (Note: Current updates and developments of events that pre-date the first day of your class may be used. When in doubt- ask!)

Your written comments should contain the following:

  • A brief summary of the article;
  • A thorough stakeholder analysis. You should list and underline the 4-6 most important stakeholders pertaining to the article situation, and describe how each is impacted.
  • Your opinion as to solution/resolution of the business ethical issues.

Label all sections and underline each individual stakeholder in your stakeholder section.

Writing and proofing errors will be penalized at one point per error.

FORMAT (12 pt. font/single spaced):

Assemble your Journal as follows:

Title page with you (your) Name, Date, Section #, Article titles, active hyperlink or APA citation. You do not need to include the original article or APA citation for each article providing you insert a live hyperlink on your title page so that the article can be accessed when reviewing your journal.

Article #1

  • Summary
  • Stakeholder Analysis (usually four to six stakeholders)
    • (stakeholder name): explain how the stakeholder is impacted
    • (Repeat for each stakeholder)
  • Solution/resolution

Article #2

  • Summary
  • Stakeholder Analysis: (usually four to six stakeholders)
    • (stakeholder name): explain how the stakeholder is impacted
    • (Repeat for each stakeholder)
  • Solution/resolution

To understand the breadth of this subject area and to get ideas as to what types of articles you could look for, familiarize yourself with the text’s table of contents and case study topics, along with this syllabus, for cues regarding article relevancy. Articles about predominantly social criminal issues that lack a business focus, such as the death penalty should not be used. While the ethical importance of such issues cannot be overstated, this class focuses on areas with strong business involvement. Think in terms of BUSINESS ethics/action/responsibility.

Explanation & Answer:
1 Discussion
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Explanation & Answer

Attached.

Running head: BUSINESS ETHICS

1

Business Ethics
Name
Tutor
Institution
Course
Date

Hiltziki, M. (2020). That Wells Fargo accounts, Scandal was even worse than you can imagine.
Los Angeles Times. Retrieved from https://www.latimes.com/business/story/2020-0127/wells-fargo-scandal
And

Ayaburi, E. Treku, D. (2020). Effect of penitence on social media trust and privacy concerns: the
case of Facebook. International journal of information management. 50(171-181).
Retrieved from https://www.sciencedirect.com/science/article/pii/S0268401219302555

BUSINESS ETHICS

2

Article 1#
Summary of article
The author of the article aims at explaining how Well Fargo’s ethical scandal has
worsened even after it was revealed. He states that it is in the rules that when a scandal is
disclosed, it gets worse even after official investigations, and the case of Well Fargo serves as
evidence. The OCC ambushed some of the former executives of the bank, charging them for
their wrongdoing and nonfeasance during the scandal. The OCC demanded millions of dollars
and threatened to execute other disciplinary measures. The CEO, agreed to charges and was
banned from working in the banking industry permanently and levied a $17.5 million fee. He
also paid $28 million as compensation to the bank. Other executives paid a fee of $3.5 million.
Other executives are challenging the OCC before the Court for the huge penalties being
inflicted on them. Carrie Tolstedt is one of them, and has been penalized a fee of $25 million.
The OCC presented evidence showing how the executives failed to take action to prevent the
opening of unauthorized accounts in the case scandal in 2013. The documents show the wrongful
unethical acts by the rank-and-file employees and how the executives willfully avoided stamping
the accounts out. It also shows how the rank-and-file employees were hassled, blackmailed,
humiliated, and forced to going against the rules and regulations by opening unauthorized
accounts to meet unrealistic sales targets. The executives ignored this to avoid tarnishing the
business reputation. Customers complained of receiving debit cards without their consent.
Stakeholders’ analysis
Four stakeholders that have been affected by the scandal. These include the former
executives, the customers, the company, and the employees. The former executives concerned
include chief executive John Stumpf and Carrie Toldstedt. Stumpf has been banned permanently
from working in the banking industry and has been charged penalties of over 80 million dollars.
This is because he did not try and stop the unethical acts; instead, he encouraged them. On the
other hand, Carrie Tolstedt is being charged $25 million but has filed a lawsuit against the OCC,
stating that she acted with “utmost integrity for doing what is right”. However, the OCC has
evidence showing that Tolstedt asked the executives who complained to stop telling such as story
as it spoke badly about the company.
The rank-and-file employees were forced to open unauthorized accounts using the customers'
identities to reach unrealistic goals. Those who were reluctant to these orders were harassed and
even humiliated. They were forced to turn a blind eye on ethical considerations in fear of losing
their jobs.
The company, Well Fargo, was deeply affected by the scandal. It lost many customers. Also, its
reputation was severely damaged. It was once successful but currently struggling to stand again,
given that it lost massive amounts of money. It is also struggling to settle the hundreds of million
dollars fines, operation costs, and compensation costs to its customers.
A solution to the ethical issue
The ethical issue at hand was a fraud. Em...


Anonymous
Just the thing I needed, saved me a lot of time.

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