HEALTHSOUTH: THE SCRUSHY WAY

Feb 3rd, 2012
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Northcentral University
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Of all the CEO's accused of misdeeds in recent years - at Enron, WorldCom, and elsewhere - by far the most interesting is former HealthSouth CEO Richard Marin Scrushy. A charismatic leader, Scrushy could get employees to follow him either through charm or encouragement, or outright intimidation. In 2003, the Securities and Exchange Commission accused in a civil law suit the HealthSouth Corporation and Scrushy of inflating the companys earnings by $1.9 billion since 1999 (Securities and Exchange Commission, 2003). In separate criminal charges, 15 former executives pleaded guilty of participating in a scheme to fake corporate profits to meet Wall Street expectations. Using Case 4.6, HealthSouth: The Scrushy Way, and by utilizing a minimum of 10 peer-reviewed references and completing outside research, examine the HealthSouth and CEO Richard Scrushy case and its ethical issues. Discuss how ethics may have played a role in the governments responsibilities to all parties involved in the case

Word Count: 2318
Showing Page: 1/11
TABLE OF CONTENTSINTRODUCTION 4IMPACT ON SHAREHOLDER .. 5.OUTCOME AND FAIRNESS OF PUNISHMENT 7ETHICAL LEADERHSIP 8CONCLUSION . 9REFERENCES . 11INTRODUCTIONThe purpose of this research is to examine the functioning of HealthSouth, a healthcare provider company, the maneuvers of its former Chief Executive Officer (CEO) Richard Scrushy to artificially advance its share prices and its ethical issues, the impact on the shareholders, the outcome and fairness of punishment, the ethical leadership, and last but not least, the concluding remarks about corporate frauds and the importance of business ethics. Before initiating the research paper, it is of foremost necessity to understand the definition of corporate fraud and corporate ethics. Corporate fraud comprises of activities initiated by employees or companies that are carried on in a perfidious or prohibited manner, and are purported to grant benefit to the executing employees or companies, which is considered to be a white-collar crime and liable to be challenged in the court of law (Investopedia, 2012). Business ethics is the study of appropriate business polic

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