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Grey Areas & Business Processes - Essay Example

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The problem to be investigated is ethical challenges and grey areas within business processes that are exploited by businesses for financial gain. Goldman Sachs has used the layering strategy to expand its business and exponentially increase its profit by deceit. …
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Grey Areas & Business Processes

According to the study, Kantian ethical theory is implicit in its universalism and proposes that one must act in a manner that one would expect others to act towards oneself. Goldman Sachs had used underhand techniques to deliberately increase the price of shares and then float the same share into the market to profit. Hence, Goldman was highly unethical and exploited the trust of the public to gain profits. It is an agreement between the client and the firm whereby the client or buyer promises to buy the shares of IPO at a higher price above the initial one so that its market shares are guaranteed to increase. This is a scam between the underwriter for the IPO and the favored client to make money at the cost of general public. Goldman Sachs has been responsible for committing this crime with the deliberate intention of fraud. Not only has the company violated the trust and confidentiality of other clients but also its irresponsible and fraudulent behavior has resulted in the bankruptcy of the new firm whose IPO was floated. A prime example is eToys, which had gone bankrupt. Hosmer asserts that business decisions need to be constructed on the basis of economic considerations, ethical values and moral obligations to its various stakeholders. Goldman’s sole purpose was to make profit and benefit few clients thereby harming the interests of its other clients and public in general. Hence, its conduct and business practice was hugely unethical. Collateralized debt obligations are financial instruments that are mortgage backed and, therefore, attractive to clients. The short sale and maintaining short subprime position considerably benefits the firm. In 2008, Goldman became a bank holding company. Though the company was brought under the regulation of Federal Reserve Bank, it also obtained easy access to funds from Federal Reserve at zero percent interest and no time limit. It started recommending CDO to its clients. ... Read More
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