Week Six Learning Team Reflection

timer Asked: Jul 12th, 2015

Question Description

Read Case Application 1, "Lessons from Lehman Brothers: Will We Ever Learn?" at the end of Ch. 5 of Management.

Discuss the scenario with your team.

Discuss the second, third, and fifth discussion questions at the end of the case with your team.

Here is one of my teammates paper so you can know what we are discussing for an exampleTeam discussion

This scenario about the Lehman Brothers and their unethical contribution towards the downfall of the company. The Lehman Brothers exercised unethical manipulation of the legalities. Businesses have responsibilities to the compliance of the law and an obligation to the ethical prevention and protections with the parties involved/ tied to the business. The Lehman Brothers was the largest organization to file bankruptcy. What are your thoughts of the Lehman Brothers’ unethical behavior? In my opinion, ethical behavior is not just a responsibility but it is an obligation. Answers 2. The culture at Lehman Brothers was a culture of accepting and approving unethical behavior and unethical actions. This culture contributed to the company’s downfall by implementing high risk decisions that were not legally compliant and unethically applied through manipulation of paperwork and exceeding risk controls. 3. The executives played the role as decision makers and approving the unethical processes placed before them. These choices and decisions in which they supported and approved. They were not being responsible or ethical because compliance to laws and procedures help to protect the people as well as the business. We all are held accountable for our ethical practices. One instance Lehman Brothers sold and gained a profit in a very questionable way to prevent selling at a loss. 5. We continue to see these type of situations because of greed and the unethical care used by businesses and organizations. The paperwork and reporting has become boldly dishonest with a thought to present it as honest. It is not unreasonable to think that businesses and organizations should act ethically. It is a responsibility as well as an obligation to do things ethically to protect all parties involved.

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