Using publicly available data, this report makes a prima facie case that the merger will severely threaten competition in the Internet market. These independent market share estimates indicate that a WorldCom-MCI merger will create a highly concentrated Internet backbone market structure. Specifically, this study presents the following findings:
This reputation transferred across to the company brand. Unfortunately, and behind closed doors, Andersen encouraged groupthink, creating a workforce of followers, not leaders. This led to the creation of a soulless cult and by the s it was all about the dollar.
Inward-looking executives lost sight of the customer and other key stakeholders. Staff were applauded for the amount of money they brought in, but nobody was acknowledged and rewarded for standing up to unethical conduct.
Unfortunately, while there were attempts in some quarters to improve the corporate culture, these failed due to collusion, corruption and resistance to change at the top of the hierarchy. The culture of Andersen did not have ethical principles as its central paradigm.
The real paradigm was money. This intriguing insight suggests that the organization had come to take on a fictitious personality all of its own in the minds of employees, and that it was the duty of executive management to protect the mothership above and beyond any calling to protect the interests of the non-fictitious shareholders, customers, the workforce and society.
In The Corporation 2 professor of law and legal scholar Joel Bakan explains how this thinking took root: The corporate person had taken the place, at least in law, of the real people who owned the corporations.
Integrity Training Case Study: In the ensuing investigation, the report of court-appointed monitor, Richard Thornburgh a former US attorney generalstated: He was sentenced to 25 years for his role in the massive accounting fraud. Incidentally, the WorldCom top team had previously worked for Arthur Andersen!Steven L.
McShane The University of Western Australia Mary Ann Von Glinow Florida International University Case Study Jersey Dairies, Inc.
26 IMimwq Case Study Working from Home-It's in MARS Model of Individual Behavior and Performance 34 .
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Teaching Freshman Business Students Ethics: A Case Study John Koeplin University of San Francisco, [email protected] accounting) scandals in the past decade. We are all familiar with the Enron‘s and WorldCom‘s of the world, forever identified as the epitome of .
The case was successfully resolved for a significant premium over the recovery in the securities class action.
The action, brought in New York federal court, alleged both federal securities law violations and state law negligent misrepresentation claims, unavailable to plaintiffs in the class action.
Case 4: ACCOUNTING FRAUD AT WORLDCOM. CASE 4 SUGGESTED ASSIGNMENT QUESTIONS (Individual Assignment) Due: 21 November 1. What are the pressures that lead executives and managers to “cook the books”?
Summary • WorldCom is not only about “greed” • Corporate fraud is the result of how a corporation is led, how employees are motivated, the nature of the work, and the degree of individual autonomy • Ethics training and compliance programs don’t work in a culture that is exclusively materialistic and that devalues the dignity of work.
Based on your understanding of risk assessment and the case information, identify three specific factors about WorldCom's strategy that might cause you to elevate the risk of material misstatement.