Essay: Lack of Ethics

21 Oct

Essay: Lack of Ethics

Sample Essay

Each organization has to work towards the achievement of certain goals and objectives. It is imperative to note that the law to obligate any business venture to return as much as possible to the investors. This implies that all the business operations would be geared towards maximizing profits and may lead to harming the society in pursuit of their goals.

For instance, the Enron Corporation which was one of the largest corporations in the U.S went bankrupt in October 2001 and this led to huge loses on the side of the stakeholders. When Jeffrey Skilling was hired, he used executives who were out to meet their own interests and it is at this time that the main goal of the corporation changed from been beneficial to its stakeholders to benefiting only the executives. They were able to use accounting loopholes and poor financial reporting for their own gain implying that they were not ethical at all. The shareholders lost a great deal when the share price dropped from $90 to $1 per share which was unbelievable.

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