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Business ethics and law
Ethical consequences of bribes
Business ethics and law
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Robert Chihara 04/25/2018 PHIL 32400-003 Kurowski Greed has been present in this world since the beginning of time. It was present when Eve ate from the tree of knowledge of good and evil and it is present in the society we live in today. The movie, Wall Street, does a perfect job depicting the presence of greed in the world of business. Common in the business world, this movie shows how much someone will do when money is given to him, and how far he will go to move up the food chain of success. Wall Street does a great job depicting one-man hunger for money and greed, to his fall from the consequences of his unmoral and unethical acts.
The film, Wall Street does a phenomenal job depicting greed in todays society and how it can impact anyone.
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Bribery is the act of providing money or a gift to a person, in exchange for support or help. Regardless of the way bribery is used, it is always an unethical action. Whether it is used to move up on the waiting list of an apartment that just opened, or it is used to entice someone to bend the rules so one does not have to do something it is unethical. When someone uses bribery as a tool when applying for an apartment or to change the rules it is giving them an unfair advantage over everyone else who does not use this tool. Bribery is a form of corruption in the business world and corruption can ruin and destroy a business. Corruption in the business world can be compared to a blood clot in the human body. When someone has a blood clot their flow of blood is not as smooth, it is harder for the blood to flow to the necessary organs. When the blood clot begins to increase and more begin to appear this could be devastating to the body and even potentially result in hospitalization, maybe even death. This is the exact same when looking at the corruption of a business. When there is corruption in a business nothing flows as well, it may be hard to notice at times, but if it is not dealt with fast, it could result in the death of the company. In the film Bud Fox goes to his old college friend to ask him for a favor. He asks him if he could place some of Gordon Gekko’s money into his accounts for a little while, and in …show more content…
Under the Divine Command theory, it, much like the insider information, would be violating the laws that are place upon the United States. Another verse in the bible about the issue of bribery is Exodus 23:8. This verse basically says that a bribe should not be accepted, because a bribe blinds the person who is taking it. When someone takes a bribe, they overlook the ethical thing to do. They become blind to what is right because all they see is the dollar signs that are flashing in front of their face. The Utilitarian view on bribery is very similar but for a different reason. When a company accepts, or pays, a bribe they are basically saying “I support this issue,” and sooner or later it is going to be released that the company paid or accepted that bribe. When this happens many individuals will stop supporting this company, because they do not want to be associated with a company that partakes in criminal activity. When a company begins to lose income and profit, they begin to start cutting costs, and when they do this they will start laying off workers and potentially even close the company if backlash is bad enough. Under the Utilitarian view they look for the best outcome for the largest number of individuals, and if this could even potentially happen to these employees they would not be in support of this idea. That is the normative views on the issue of
The runaway corruption in the country harms the business environment and causes collapse of various established institutions and industries.
Corruption is an individual and institutional process where there is a gain by a public official from a briber and in return receives a service. Between the gain and the service, there is an improper connection, (Thompson p.28). The two major categories of bribery is individual and institutional corruption. Receiving personal goods for the pursuit of one’s own benefit is personal fraud. An example of individual distortion is the financial scandal involving David Durenberger. Organizational corruption involves “receiving goods that are useable primarily in the political process and are necessary for doing a job or are essential by-products of doing it,” (Thompson p.30). An instance of institutional fraud is the Keating Five case. There are also times where there is a mixture of both individual and organizational corruption in a scandal. An example of this diverse combination is James C. Wright Jr. actions while he was the Speaker of the House.
Profit, profit and more profit - the golden pillars of capitalism. In the movies 'Wall Street' and 'Boiler Room' this is the ideology that the characters uphold. While, there are many variances in the two movies, the basic aim of both lead characters i.e. Gordan Gekko (Wall Street) and Seth Davis (Boiler Room) is to make money. Both men are stockbrokers who deal in high finance in the exclusive world of Wall Street. However, with both movies are set in different decades the way they go about doing so differs.
Corruption is something that is motivated by greed and fraud. It’s a very threatening personality that controls and destroys people’s lives and makes them the kind of person other people don’t want to associate with.
This report will analyse the leadership style of two main characters, Bud Fox and Gordon Gekko. This movie shows corporate America and the ethical behaviour in the workplace at the Wall Street. Bud Fox a smart, yound and very motivated stock broker has the desier to become the highes salesperson in his company. His main target is centered on big share trading account like Gordon Gekko. He says, “Just once I would like to be on that side” he dreaming of the day when he will be big corporate shot controlling the flow of millions of dollars like his hero Gordon.
This was the question asked in the case Mathews v. United States in 1988. The defendant, an employee of the Small Business Administration (SBA), was the contact for James DeShazer, the president of a company, which participated in the SBA (“Mathews v. United States”). DeShazer believed that he was not being provided with all of the benefits of the program, so he worked together with the FBI to request a loan from the defendant, attached to a bribe. The defendant agreed to these conditions and met up with DeShazer to exchange the money. The defendant was immediately arrested on a federal offense for accepting a bribe in exchange for an official act (“Mathews v. United States”). The defendant asked for an entrapment defense but the Court struck down his motion because the defendant would not agree to all the elements, and the Judged ruled that the jury would not hear an instruction of
Rothman, Lily.”So, Does The Wolf Of Wall Street Glorify Greed Or Not?.” Time.Com (2014):1.Web. 18 Mar. 2014.
In the film, Wolf of Wall Street directed by Martin Scorsese, the root conflict that moves the action is a person vs. self conflict. The main character, Jordan Belfort, has only one goal, not to make the investors money, but to make himself money, and he will do anything to achieve that. He even goes as far as to sell investors stocks that he knows for sure that are garbage. While him doing this is completely legal, it is very unethical and causes Jordan to battle heavily with drugs and alcohol, only deepening his personal battle with himself. No amount of money is enough for Jordan, which causes him to start committing federal crimes, such as insider trading and money laundering, further increasing his problems with himself.
This movie starts off as Jordan Belfort, the main character in the movie, losing his job as a stockbroker in Wall Street. After losing his job, he goes and gets a job in a Long Island brokerage room. In the brokerage room, he sells penny stocks. Thanks to him being aggressive in his selling skills, he was able to make a profit. With the new income, he gives his wife a bracelet and she asked him why doesn’t he go after the people that can afford to lose money, not the middle-class people or lower income people. That is when he gets the idea to get a lot of young people and train them to become the best stock brokers.
The Wolf of Wall Street produced and directed by Martin Scorsese tells a story of Jordan Belfort, a stockbroker living a luxurious life on Wall Street. Due to greed and corruption, Jordan falls into a life of crime and abusive activities. Belfort made millions of dollars by selling customers “penny stocks” and manipulating the market through his company, Stratton Oakmont, before being convicted of any criminal activity (Solomon, 2013). Jordan reveals behaviours and impulses all humans have, however, on an extreme level. This movie illustrates “why ethics is another tool whose importance cannot be overstated” (Delaney, 2014). Without ethics and morality, individuals can never truly live an honest and happy life.
...to borrowing money from his father, which he didn’t believe in doing. Bud also had a caring relationship with Darien, who he met at Gordon’s house when he went to go sign the papers. Bud didn’t know that Darien and Gordon had a relationship far before she met Bud. Coercive power gives Gordon to strip everything away from Bud including the women he loved, Darien. Thus if Darien had to decide between Gordon and Bud, she would pick Gordon because he has coercive power over her. If she leaves Gordon then she loses her clients. There’s an important role of powers being used between Gordon Gekko and Bud Fox. With these powers it lets Gordon to be in control all the time and benefit him from the inside information. Although the powers favor to Gordon, it’s also what keeps them together, Gordon looks to benefit from Bud whereas Bud needs Gordon to keep the money flowing in.
The word “bribe” is shown throughout the Old Testament several times. In Exodus 23, while miscellaneous laws are given to the people, in verse 8 the following law is given: “You shall not take a bribe, for a bribe blinds the clear-sighted and subverts the cause of the just” (NASB Exodus 23:8). In this passage, “bribe” is referred to as something corrupt, as something that harms the just. In 1 Samuel 8, after Samuel appoints his sons as judges over Israel, his sons do not walk in his ways, but instead “turned aside afte...
Bribery is wrong, and it would be almost instinctive to point at the benefits of impartially functioning public servants and incorrupt corporations to our democratic society as justification. However, in this imperfect world where bribery is rife in varying degrees, is it possible to express this notion convincingly? Certainly 'because the UK Bribery Act says so' is far less persuasive to a council planning office in Shanghai than in London, and indeed in compliance with section 7 of the Bribery Act 2010 which relates to commercial offences, it is essential that this question is engaged with on a corporate scale and without assertion through dogma. Accordingly, this essay will argue that elements wrong with bribery are inclusive of both moral and economic considerations. Moreover, in conjunction with international mandates, advent of aggressive legislation such as that of the UK Bribery Act 2010 is representative of global efforts to eliminate bribery. Hence, it follows that bribery can never be considered a normal part of business because it is economically unsustainable in the long term.
At the start of Wall Street, Bud Fox is young and insecure about the business world. Bud is a broker seeking new clients and offering second-hand advice regarding the buying and selling of stock. Bud makes a visit to Gekko?s office with a box of Cuban cigars on his birthday in hopes of winning him over as a client. He wa...
The Wolf of Wall Street is a 2013 comedy drama film that depicts a typical life of a NYC-stock broker named Jordan Belfort also known in real life as Leonardo DiCaprio. Jordan Belfort went from rags to riches when he started illegally selling penny-stocks. Jordan, unlike another stockbrokers, had a gift of selling. His words and phrases could convince any buyer. Eventually Jordan climbed up the corporate ladder and started his own company called Stratton Oakmont.