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RESPONSE TO PROFESSOR’S QUESTION
(MINIMUM 110 WORDS, REFERENCE NOT COUNTED, REFERENCE REQUIRED
UNDER THE EACH ANSWER, NO PLAGIARISM, NO GRAMMAR ERROR)
1. What is the relationship between the mortgage crisis of 2008 and the
corporate responsibility and ethics? What factors cause the crisis? Do you
think social responsibility is important? Why or why not?
➔
2. Choose a company and analyze its CSR report. In doing so, think about what
seem to be its reasons for being socially responsible. Is it pragmatic, ethical,
strategic, or some combination? Can you identify its key stakeholders?
➔
3. Imagine that you’re the CEO of a large firm like any of the ones described in
this chapter. What concrete steps would you take to restore your company’s
reputation if it has been sullied?
➔
4. Why should information systems engineers or managers develop policies?
➔
5. Why is it important to understand the boundary conditions–scope, time, and
cost–of any information systems project?
➔
6. What role does cost-benefit analysis play in an organization’s internal control
system?
➔
7. What is a security policy? What do we mean when we say organizations
should have an integrated security plan?
➔
8. Why is business continuity planning so important? What is it?
➔
9. Why are competent employees important to an organization’s internal control
system?
➔
10. Why are competent employees important to an organization’s internal
control system?
My opinion after reading other students’ answers to professor.
(The opinion should starts with “I agree with your post ~” or “ I think
you have a good example for ~” etc. All answers should be at least 110
words, reference not counted, reference under each answer if
applicable, NO PLAGIARISM, NO GRAMMAR ERROR)
(Professor: Why should information systems engineers or managers
develop policies?)
1. Information systems engineers or managers develop policies in order to
protect the assets of their enterprise. If there are no rules in a place of
business, managers and employees will lean more towards taken illegal or
wrong actions in order to achieve their own goals. Even with policies
established, some individuals still choose to ignore policies because they
are only concerned with their own personal gain i.e. Bernie Madoff.
Policies are typically a combination of manual controls and automated
controls. Policies can range from approvals and authorizations to
verifications and reconciliations. It’s important that accountants follow
policies because businesses depend on accounting information to be
accurate and true. Accounting is a profession of ethics.
➔
(Professor: Why should information systems engineers or managers
develop policies?)
2. There needs to be an internal control system in every organization. “An
internal control system consists of the various methods and measures
designed into and implemented within an organizational system to achieve
the following four objectives: (1) to safeguard assets, (2) to check the
accuracy and reliability of accounting data, (3) to promote operational
efficiency, and (4) to encourage adherence to prescribed managerial
policies.” Engineers and mangers develop these policies for protection
and assurance that goals and objectives of the organization are achieved.
➔
(Professor: What is the relationship between the mortgage crisis of
2008 and the corporate responsibility and ethics? What factors
cause the crisis? Do you think social responsibility is
important? Why or why not?)
1. With the mortgage crisis of 2008, it has shown that corporations lacked
in responsibility and ethics. There is a concept of predatory lending
which allows for the broker to gain from approving a loan to a
client. There are some cases to which they do not even have to verify
their clients income before approving a mortgage. Which then brings
about another concept that it may not always be the corporation that is
lacking in responsibility, it is the clients not being truthful with their
income. Due to these concepts, I believe that social responsibility is
important to have whether you are the client or the corporation
approving the loan. Corporations want to make money, but in order to
do this, I feel like it is necessary for them to do all that is necessary to
provide to the best interest of their clients. The same with the clients,
they need to provide all that is necessary and true to the corporation
because otherwise, one or the other is just digging themselves in a
hole of which they may not be able to get themselves out of.
➔
(Professor: What is the relationship between the mortgage crisis of 2008
and the corporate responsibility and ethics? What factors cause the
crisis? Do you think social responsibility is important? Why or why not?)
2. Social responsibility is important because it’s another aspect of ethics,
and without some sort of ethical guidelines society can’t function. I
don’t care what civilization you pick or when it existed, it has some sort
of ethical code that most of the population accepted, even if by todays
standards the code was whacked. In today’s context social
responsibility is perhaps more important then at any time in history,
because these days the “masses” have a lot more ways to show their
displeasure then they ever have before. If a factory owner 200 years
ago was polluting a river there wasn’t much the average person could
do about it, but today you can sue them, organize boycotts, demonize
them in the media, and generally make their lives miserable until they
do the right thing. Ideally everyone would do the right thing just
because it was the right thing to do, but even if you don’t look at things
that way it’s pretty obvious that being socially irresponsible is a good
way to lose a fortune. Just look at what happened to BP when they
screwed up and spilled all that oil into the gulf a few years back.
➔
(Professor: choose a company and analyze its CSR report. In doing
so, think about what seem to be its reasons for being socially
responsible. Is it pragmatic, ethical, strategic, or some combination?
Can you identify its key stakeholders?)
1. I looked at the CSR for Target. Some of their responsibilities
include having sustainable sea food selection. Target feels that it
is really important that it has a way to tract where the sea food
came back from and it was not taken from species of fish that is not
thriving. A couple other items include lowering green house gases,
reducing waste and being energy efficient. I think that it is safe to
say that Target is taking it to a personal level with being socially
responsible in all that they do. This can easily be seen to be
because they are continuously looking for ways to use reusable
material for packaging store items and trying to preserve the
planet. Not only is this socially responsible but the end result helps
with their costs in the long run. I also believe that this is a
combination of being pragmatic, ethical, and strategic. Strategic in
that the company wail always look for ways in making a profit,
ethical and practical in that they want to be seen as contributing
and making a difference in the public eye.
➔
(Professor: Imagine that you’re the CEO of a large firm like any of the ones
described in this chapter. What concrete steps would you take to restore your
company’s reputation if it has been sullied?)
1.
As a CEO of Advantage Corp, when disaster strikes, company lawyers
generally urge caution and try to put a lid on communication. That may be a
good approach from a legal standpoint, but it is disastrous from a public
relations standpoint. Obviously, a company needs to find out exactly what
happened as soon as possible. So, fact gathering is paramount after a
disaster. Simultaneously, executives need to mobilize their public relations
and communications professionals, to begin the process of notifying and/or
keeping the media and other stakeholder groups informed, in order to
maintain or regain credibility. The CEO needs to be accessible to the press,
honest (if he or she does not know the answer to a question, admit it), provide
plentiful and accurate information, admit mistakes, if they have occurred, and
promise restitution to any affected stakeholders.
Probes to Stimulate Discussion
•
“What specific steps can a top manager take to restore credibility?”
•
“Can you develop a road map that could be used in any corporate disaster?”
•
“Are there three or four key steps that could be taken in any ethical debacle?”
➔
…
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