Ethics and Business Corruption. Siemens Essay Example | Topics and Well Written Essays - 1250 words

Ethics and Business Corruption. south - Essay ExampleIn this incident, Nick Lesson lost over $1.3 jillion through engaging in speculative investments targeting future contracts while operating in the banks office in Singapore. The variant business ethics theories will be evaluated with a reflection of these two s foundationdals to evaluate to what extent the malpractices fag end be related to the theories. These include the theories of Utilitarianism, Kohlbergs possible action of moral development, Shareholder prize theory VS stakeholder theory and egoism among different(a) theories (Slater, 2008). The wrong behavior in the randomness saga with the Greece disposal involved advanced levels of depravity and bribery affecting both the two parties. Siemens advanced bribes of over $100 million to the government officials in order to be awarded the contracts in the short run and secure a chance to control the countrys electronic market. Virtues and ethical reasoning places a lo t of devotion on a persons individual character to chose the best way of performing a task in a way devoid of ethical issues. Utilitarian ethical theory compares the greet benefits ratio of a given management decision with the benefits that can be derived from such with little or no cost impacts (Matussek, 2008). This theory however does not comprehensively evaluate the situation within Siemens as it considers the gains of the decision. Any actions made by the management of the company thus affect the ethical set of the people and erodes the public confidence in it. The managers value according to this theory serves as model to other employees of the organization (Dietz and Nicole, 2012). The actions taken by a single individual can also be analysed development the utilitarianism theory to help weigh whether the consequences can be bad or good. Such an angle can be used to critically evaluate the events of baring bank and how the actions of Leeson led to the death and closure of bingle of Londons best merchant banks. The actions of Leeson can be considered as foreclosure as he preempted the value of contracts and invested in them hoping to raise more benefits from such an action (Mitchell, 2000). Leesons actions when considered in isolation can be shown as an example of utilitarian as foreclosure in this situation caused more damage and pain as compared to foreclosing. Foreclosing can however be considered as the ethical behavior of banks as they rely on this to bring in money to customers and make gains from the refunds. The action of Leeson provided less affable good to the business and the stakeholders and is thus considered as unethical based on utilitarian theory (Slater, 2008). The main source of unethical allegations that were levied against Siemens stemmed from pretermit of proper knowledge of international ethical code of conduct. Most of these claims involved Russia and Siemens German, reflecting the different social backgrounds of the two co untries as highlighted in the utilitarianism theory. Bribery is considered highly unethical because it does not provide equal opportunities for other players in the industry. This applies to the German culture, a situation which cannot be reflected in Russia (Becker, 2009). This bribery case was handled by the securities and shift commission of the United States in 2007 due to a scheme in which a $1 billion government contract in Argentina was cancelled due to the cases of bribery. This case was also blamed on the