The company should have faced stringent operating procedures and forced to pay heavy penalties that would have discouraged prospective perpetrators. A small amount of slightly over $ 2 billion was a slap in the face of economic crime regulators since the company’s annual sale at the time was at a figure of over 70 billion Euros. This only encouraged the company to bribe more parties. Any company that fundamentally violates the acceptable code of business conduct ought to face stiffer penalties than just mere monetary fines that the company could have deemed as ‘budget fines’ (Twomey et al., 2011). If you were the new Chief Ethics Officer, how would you have handled the situation? Although I would have handled the situation in a more or less similar manner to the then Chief Ethics Officer, I would however, taken a slightly different approach as far as the management of rogue employees is concerned. My first approach would have been to arrange for seminars where different personalities would train and encourage the employees on the benefits of upholding acceptable ethical standards. Instead of just dismissing incompetent employees, I would have engaged them in educational seminars before demoting them to lower positions so that they could rework their way up the corporate ladder through ethical and just means. This approach would have instilled confidence in them and all other employees to work as a team towards the attainment of Siemens short-term and long-term goals (Fernando, 2010). Was the corruption justified since bribery was legal in Germany until 1999? Despite the fact that bribery was legal in Germany, there was no justification for the corruption witnessed in Siemens whatsoever. The fact that Siemens is a German company did not negate the need to operate in accordance to the internationally accepted business ethics since Siemens is an international company with subsidiaries spread across the globe. Although, the senior executives in Siemens’ case tried to justify their acts as a strategy to gain competitive advantage in the market, this still violated the internationally accepted business conducts. This is because most of Siemens’ corrupt deals were international and any company that operates on a global platform ought not to use local policies but internationally recognized ones in business operations. With all these evidences of breach of international law, it is wise to conclude that Siemens was not justified to embrace bribery and corruption as ‘company policy.’ (Twomey et al., 2011). How does an organization make the shift to refine their ethical practices when there is such a radical change in policy? More often than not, organizations that take the bold step to ethical recovery undergo agonizing experiences though the results obtained are much pleasant. Various ways by which organizations can make the shift to refine their ethical practices exist and there is no single most approach to this course. Some organizations opt for the restructuring of the management system in an attempt to reverse the undesirable trends witnessed over a period. While this can be an appropriate approach for a dynamic and self-motivated team, the organization can seek to transform the culture of employees directly by either imposing new company policies or engaging the employees in dialogue. Ordinarily, most organizations choose the latter as it has the effect of improving employees’ trust and confidence in the company. Overall, whichever approach an organization decides to take should incorporate participation by all stakeholders (Fernando, 2010). By researching online, what have been more recent developments with Siemens Global
The punishment that Siemens receives was not acceptable since the weight of the allegations leveled against the company superseded the monetary value. …
Case study Mason and Shepherd are facing some delicate legal and ethical issues related to their intention of starting their own business and leaving their current employers. Both of them have signed agreements that somehow limited their possibilities of starting a new business in the future.
An at-will employment or employment at will means that in the absence of contract or agreements that indicate conditions of employment, the employment is assumed to be voluntary and indefinite for both the employers and employees under the Doctrine of Employment at Will.
The general partners are often engaged in the day-to-day operation of the entity unlike in corporation whereby ownership is separate from management. Additionally each general partner is often personally liable for the liability of other partners. Profits of the company are often shared equally however, this only happens when the partnership deed does not specify the ratio of profit sharing.
Siemens AG is the largest multinational engineering and electronics conglomerate that is based in the Germany. The company has fundamental activities in the field of energy, industry, transportation and health care. In essence, it offers a wide variety of electrical engineering and electronic –related products and services.
However, the trend took a drastic shift from the year 1999 after a new CEO took office of the great company that had accumulated a myriad of ethical and legal issues over the years (Fernando, 2010). This essay seeks to answer some legal and ethical issues as concerns Siemens Global.
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For this one needs to go to the doctor and that too a doctor who complies with medical ethics (. Medical ethics can be defined as that part of applied ethics which encompasses the study of morals and values as well as judgments that can be applied to the field of medicine.
Legally, the case was stronger for the parents, and it seemed that it was rational for them to protest and seek punishment against the murderer and the person who deliberately hide the identity of the murderer. Legally Poddar was under legal compulsion to reveal such statements to the police and court, the legal regulations demand that no crime should be hide from the police and court, and such events and confession made personally should be revealed without any haste.
This paper gives an insight to Siemens AG business and its active active business lines. Recently it has been engulfed in scandals related to creating slush funds, bribery, illegal union intervention and cartel formation. These charges questioning the ethics and corporate governance have left the German icon’s image shattered.
This essay seeks to answer some legal and ethical issues as concerns Siemens Global.
Considering the magnitude of the corruption witnesses in virtually all Siemens subsidiaries across the globe, I strongly feel that
3 pages (750 words)Case Study
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