Corporate Corruption Esay

Corporate Corruption Esay - Corruption in the Corporate...

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Corruption in the Corporate World Empire State College Jason Wilcox Management Principles Professor John Townsend December 23, 2006
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Executive Summary In paper your about to read I will explain how corruption among corporations have left thousands of people jobless and even more people wondering what they are going to do for retirement and their children’s educations. I will discuss two of the more recent cases that have but a negative spotlight on large corporations as well as the laws that have been established to prevent this type of activity from happening in the future.
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Table of Contents Introduction………………………………………………………………1 Laws……………………………………………………………………. ..1 Why Corruption Happens………………………………………………. ..3 Enron……………………………………………………………………. .4 WorldCom………………………………………………………………. .5 Conclusion……………………………………………………. .. 8
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Corruption in the Corporate World Unless you have been living under a rock over the past ten years then you know the affect that corruption among the largest corporations in the US has had on the economy. From the scandals that emerged from Enron, to WorldCom, and even Martha Stewart have been in the headlines over the past few years. Although some people think that this is just a small picture it actually affects the entire economy in a very negative way. People that once thought that there future was completely stable and that when they retired they would be fine are now stuck between a rock and hard place when it comes to their retirement funds. Not to mention once these allegations go public it is only time before jobs are cut leaving longtime employees trying to find new jobs after they thought they had somewhat job security. With this problem seeing to be a growing trend the government has stepped in to protect the innocent and prosecute the guilty. New laws now are trying to help out the little guy and stop the rich and greedy from succeeding in there plot to scam out investors. This is what we call today “Corruption in the Corporate World.” With a recent trend in the corporate world of falsifying accounts to stockholders the government felt it was necessary to step in to create laws to protect the innocent and punish those in the wrong. These laws will hold those in higher leadership positions responsible for the wrongdoings of others within their respected company. The definition from Wikipedia of “corporate crime” is as follows: crimes committed by a corporation,
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i.e. a business entity having separate legal personality from the natural persons that manage its activities, or by individuals that may be identified with a corporation or business entity. (Corporate Crime, 2006) Currently there are no specific laws to protect employees directly nor is there any laws to protect the stockholders, however the
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Corporate Corruption Esay - Corruption in the Corporate...

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