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Ethical Decision Making The Sarbanes-Oxley Act Essay

Is ethics concerning decision making merely an accepted way of life, a trust factor, or a concern for reputation? Is ethical thinking and decision making conclusions right for one individual or firm and wrong for another? Do ethics encompass a universal concept or do they reside solely in an individual realm such as one’s Id or ego as Freud claimed? Finally, do acts such as The Sarbanes-Oxley Act (SOX) create a sound solution to the problem of ethical or non-ethical decision making in public firms? According to many scholars, the subject of corporate ethical decision making has many different avenues, such as what Zhong states â€Å"involves(ing) systematic and analytic deliberation† which also involve â€Å"intelligent choices†. While both†¦show more content†¦How has our recent dismay, concerns, and the actions of firms concerning ethical thinking, or the lack thereof relates to the past observations and does our recent laws and directives, such as SOX create as safety net to investors, employees, and the economy as well as drives the ethical decision making of CEO’s and CFO’s of public companies? Who benefits? Advantages and Disadvantages of the Sarbanes-Oxley Act of 2002 Should CEOs and CFOs be held accountable for fraudulent accounting practices? Should investors have complete and accurate information regarding potential investments? Following the Enron scandal in 2001, when Enron filed for bankruptcy after it was discovered that the company employed improper accounting practices, the alarm rang on Capitol Hill and the Sarbanes-Oxley Act (SOX) of 2002 was penned. SOX is one of the most significant regulatory reform’s since the Great Depression (McAdams et al, 2009, p.390). No longer was it publicly acceptable in the United States for CEOs and CFOs to lead their companies toward disaster and then use golden parachutes on the way down. As thousands of Enron’s employees lost everything, accountability of those who made millions leading companies was at the forefront. As we seek to evaluate the advantages and disadvantages of SOX legislation, we must understand why there was a need for significant reform. Prior to this Act, government oversight of publicly heldShow MoreRelatedSarbanes Oxley Act Of 2002 Essay1421 Words   |  6 PagesSarbanes Oxley Act Jason Stigal FIN/571 November 6, 2016 James Traylor Abstract Enron’s fraudulent financial practices lead to the Sarbanes Oxley Act of 2002. Mistakes made by the company and their leadership shocked the world and cost billions. Enron’s leadership could have taken steps to prevent or mitigate the repercussions of their actions. The act restored ethical and reliable financial practices to the market.The major provisions of the act made corporations responsibility forRead MoreEssay Ethics Article Review886 Words   |  4 Pagesaround business practices. Included in these businesses practices are accounting and financial decision-making. Both of these require high standards of ethics as many people rely on the information produced by them. The lack of ethics results in misinformation and the lack of trust. This paper will first provide a brief summary of an article that discusses ethics in accounting and financial decision-making. After that, this article will be related to assigned readings and to an organization’s currentRead MoreEvents Leading Up to the The Sarbanes-Oxley Act Essay examples1203 Words   |  5 PagesThe Sarbanes-Oxley Act was enacted on July 30, 2002. It was enacted by the 107th United States Congress. It is named after sponsors U.S. Senator Paul Sarbanes and U.S. Representative Michael G. Oxley. It is also known as the ‘Public Company Accounting Reform and Investor Protection Act’ in the Senate and ‘Corporate and Auditing Accountability and Responsibility Act’ in the House. The main purpose of this act was to protect investors by improving the accuracy and reliability of corporate disclosuresRead MoreSarbanes-Oxley Act Essay727 Words   |  3 PagesSarbanes-Oxley Act Dana Smith LAW/321 December 6, 2011 Michelle Hamilton Sarbanes-Oxley Act In the corporate world today the rules and regulations are stricter than they were in early 2000. The development of corporate governance that established procedures to be used by officers and directors for lines of responsibility, approval, oversight by key stockholders, and set the rules for corporate decision making became more extreme. The Sarbanes-Oxley Act (SOX) of 2002 made the use ofRead MoreSarbanes Oxley And The Oxley Act1358 Words   |  6 Pagestaken place were so severe that an Act was created in response to them in hopes to prevent these scandals from happening. The Sarbanes-Oxley Act, also referred to as SOX or Sarbanes-Oxley, was created by Senator Paul Sarbanes and Representative Michael Oxley and was signed into law by President George W. Bush on July 30, 2002. The creation and passing of the act was so tremendous that â€Å"in the opinion of most observers of securities legislation† Sarbanes-Oxley was â€Å"viewed as the most important newRead MoreLW C1 Study Guide1467 Words   |  6 Pagesthrough this student plan, type in your answers to the questions below and create a study guide using the key terms from each section. You may also consider using the key terms to create flash cards that can be used as you prepare for the exam. ETHICAL ISSUES IN BUSINESS: Chapters 1-4 For each of the chapters do the following: Look up the answers to the questions asked below. Answer the end of chapter question (there are only a few) and check your answers. Complete the interactive quizzesRead MoreImportance of Ethics in Accounting1065 Words   |  5 Pagesaccounting industry is constantly growing and changing. Consequently, difficult decisions have to be made every day. While accountants follow a simple code of conduct; nevertheless, due to the infamous scandal of Enron, the Sarbanes-Oxley Act of 2002 was constructed to reestablish confidence in the public marketplace. The importance of ethics and integrity are highly significant to individuals in this profession. In fact, ethical behavior in accounting is described as â€Å"societies accepted standards ofRead MoreWeek 1 Knowledge Check1287 Words   |  6 PagesCompany Mission 100% 9 10 11 Company Goals and Objectives 100% 12 13 Three Levels of Strategy à ¢ Corporate, Business-Level, Functional 100% 14 15 Strategic Management Process 100% 17 18 Sarbanes-Oxley Act of 2002 Management Ethics 16 Concept: The Stakeholder Approach to Social Responsibility. Concepts Mastery The Stakeholder Approach to Social Responsibility. 0% Questions 1 2 1. For the past 28 years, ABC, IncRead MoreSarbanes Oxley Act of 2002 Essay1294 Words   |  6 PagesSarbanes-Oxley Act of 2002 ACC/561 Sarbanes-Oxley Act of 2002 Following a number of discovered fraud scandals committed by well-known corporations and in order to restore public confidence in the stock market and trading of securities, the United States congress passed the Sarbanes-Oxley Act in the year 2002. As a result of the act endorsement by the New York Stock Exchange and the Securities and Exchange Commission, among many other national overseeing committees, a number of rules and regulationsRead MoreEssay about Details of the Sarbanes Oxley Act 20021060 Words   |  5 Pagesfindings properly. Since the Sarbanes-Oxley Act, there have been provisions that have directly affected auditors. This paper will include the details of the Sarbanes-Oxley Act, how ethics and independence have affected auditors, as well implementation of new standards based on the Sarbanes-Oxley Act. The Sarbanes-Oxley Act of 2002, provided changes in the regulations of the issuers in the public structures in the United States, as well as non-United States issuers. The Act applies to all issuers including

Theories of Creativity - 1923 Words

Theories of Creativity and Quality Theories of Creativity and Quality Theories of creativity are vast. Several psychological theories on the process of creativity are chronicled. Some theorists explain creativity as intrinsic creative motivations, which individuals create a project for the sake of creating (Wibell, 2011). Other theorists convey the brain controls levels of creativity, and mental illness has an impact on creative process. Further, many believe the humanistic theory of creativity spawns the creative process. Through self-actualization creativity comes in peak experiences. The quality of the work depends on what is measured. The quality of the creative work depicts the message of the writing. The message can be†¦show more content†¦Art is considered psychological art and appears to be generated by primary processes. With this Maslow’s humanistic theory of creativity ties into with his theory about needs requiring to be met before reaching a higher point of creativity. Visionary art which derives its existence fro m the hinterlands of the mans mind, is the type of art where the strange worlds and ideas--described by the mental illness theory of creativity--are generated from, as it connects creative individuals with the super-human and timeless worlds beyond their conscious knowing. A plausible explanation for the relation of both the humanistic and mental illness theories similarities is attributed to author, Koestler who fails to represent any particular school of thought, but has had much success in creativity research. His premise on creativity is â€Å"bisociation† a term â€Å"coined by Koestler meaning to join unrelated, often conflictual, information in a new way.† He also goes on to say that this is similar to being double minded or able to think on more than one plane of thought simultaneously, and Frank Barron (1988) places the possibility that developing the ability to â€Å"tolerate chaos or seemingly opposite information is characteristic of creative individualsâ €  (Bergquist, 2009). In short, appears both theories may very well be related, but worded differently. TheShow MoreRelatedThe Theory Of Creativity : The Centre Of The Creativity Process1650 Words   |  7 PagesCreativity is something that exists and occurs every day but the cause or explanation of this phenomenon is still in question. Many psychological theories place the origin of creativity stemming from the individual or through the ‘creative ideas’ they produce. Other theories such as those proposed by psychologist Mihalyi Csikszentmihalyi suggest that creativity begins with the interaction of three shaping factors the: person, field and domain. This essay will first discuss how the individual hasRead MoreTheory Of Intelligence, Creativity, And Scaffolding Essay1994 Words   |  8 Pagesand theories in the area of Multiple Intelligences and Triarchic Theory of Intelligence, Creativity, and Scaffolding. In the area of Multiple Intelligences and Triarchic Theory of Intelligence, it will talk about Howard Gardner’s Multiple Intelligences Theory and Robert Sternberg’s Triarchic Theory of Intelligence, as well as the affect it will have on teaching practices. With Creativity, it will discuss Mihaly Csikszentmihalyi’s theory of Creativity, and Keith Sawyers approach to Creativity. AndRead MoreA Critical Examination Of System Theory, Everyday Creativity, And Ethics And Creativity Essay2215 Words   |  9 PagesAdapt or Die: A Critical Examination of System Theory, Everyday Creativity, and Ethics and Creativity Who is a creative individual? What are the acceptable limits under which she or he can exhibit and practice creativity? Is creativity a moral or amoral concept? A creative individual is one who is able to adapt to everyday challenges through ingenious ideas and focused actions. As a specie, we are where we are today because of everyday creativity, not necessarily due to big ideas alone. Of theRead MoreThe Theory Associated Creativity More So With Divergent Thinking Essay1525 Words   |  7 PagesGuilford thru-out his studies and observations of people identified that people preferred either divergent or convergent types of thinking. His theory associated creativity more so with divergent thinking. During his studies, he witnessed creative people displaying divergent thinking characteristics more often than those that were less creative. These characteristics included: fluency, the ability to produce a great number of ideas in a short period of time; originality, the ability to produceRead MoreDiscuss the Relationship Between Entrepreneurship, Innovation and Economic Development. What Role Do Creativity and Problem Solving Play in This Relationship? Refer to Both Theory and Examples from the Business World to Support Your Discussion.1637 Words   |  7 PagesDiscuss the relationship between entrepreneurship, innovation and economic development. What role do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion. Entrepreneurship, innovation and economic development are linked to one another through different factors and characteristics of each other. Entrepreneurship â€Å"is the result of what entrepreneurs do and refers to events and their economic impact† (LumsdaineRead MoreDiscuss the Relationship Between Entrepreneurship, Innovation and Economic Development. What Role Do Creativity and Problem Solving Play in This Relationship? Refer to Both Theory and Examples from the Business World to Support Your Discussion.’2397 Words   |  10 PagesDiscuss the relationship between entrepreneurship, innovation and economic development. What role do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion.’ There are many links that bring together a relationship between entrepreneurship, innovation and economic development, and both creativity and problem solving play a large role within this relationship. Entrepreneurial activity can lead to innovation withinRead MoreGoogle : Organizational Methods Of Creativity1293 Words   |  6 PagesEnhance Creativity Name Institution Date Course ABSTRACT The study focuses on the methods that organizations use to enhance creativity. These methods varied considerably from one organization to the other leading to difference in performance. The research also investigates how creativity process determines the eventual organizational performance. In an attempt to improve the level of creativity, organisations use various models and theories. There are three common theories of creativity which include;Read MoreThe Three Frameworks Used By Taylor And Turner 20151270 Words   |  6 Pagesused by Taylor and Turner 2015 to explore relationships and creat ivity. Illustrate your answer with examples of theory, research and or application as appropriate. Creativity within relationships is vital for a seemingly healthy relationship. Creativity is ‘often associated with imagination and inspiration in the arts.. also vital for problem solving and development of new ideas’ (Taylor and Turner 2016a). Psychologist’s see creativity important because of it’s economic and cultural importance;Read MorePSY103 R7 Remembering Feeling Thinking Worksheet958 Words   |  4 Pages Part II: Theories of Emotion Summarize the four major theories of emotion. Identify which theory you think is the most valid. What makes this theory more valid to you than the others? Identify which theory of emotion you think is the least valid. What makes this theory less valid to you than the others? Your response must be at least 300 words. The four major theories of emotion are: The James-Lange theory, the Cannon-Bard theory, the Schacter-Singer theory and the Lazarus theory. The James-LangeRead MoreEssay about Cypop 71055 Words   |  5 PagesCYPOP 7 – Promote creativity and creative learning in young children 1.1 – Analyse the differences between creative learning and creativity Creative learning is about how children are actively involved in their own learning and their ability to make choices and decisions. This can be achieved by providing a creative environment, allowing exploration through play and praising the child’s creative efforts. Creative learning is about helping children develop imaginative thinking through exploration

Red Legwarmers free essay sample

It’s strange how the most ordinary things can inspire us and shape our lives. My life changed one morning before school when I was 12 years old. So far the year had been jarring. My best friend had moved away that summer and I felt alone in a sea of strangers. Even though the prospects of my day being good were unlikely, I felt exuberant when I looked into my closet and prepared to choose my outfit for the day. First I put on a new gray pleated skirt and a white blouse. Then, while rummaging through my mother’s old ballet bag, I found a pair of red legwarmers and with a twinge of excitement; I pulled them over my feet and onto my legs. Before having the opportunity to change my mind, I grabbed my book bag and descended the stairs, only to see my father standing at the kitchen counter. We will write a custom essay sample on Red Legwarmers or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Instantly, I was afraid of what his reaction might be because he is a straightforward type of man who gives out compliments sparingly. But when he heard my footsteps on the tiles he looked at me with a shocked expression and then smiled. He then said with sincerity, â€Å"Wow. That’s a nice outfit.† I was stunned. â€Å"Thank you† I replied and continued on my normal routine. But normal was far from how I felt. Instead I felt enlightened, and decided to harness that feeling and never let it go. At lunch that day, my friends complimented the leg warmers and asked where they could buy their own. With the new excitement, I no longer cared about fitting into the crowd. As time went on I experimented more and more with my personal style. This became my passion and it could lead me to ultimate happiness. It would drive me each and every day. Soon I was sketching various outfits in my notebook and planning what I would wear during the week. Still, I didn’t know where this passion might lead, but one day I started reading a Vogue magazine and right away my eyes were glued to the glossy pages. Reading through each article and spread adorned with beautiful clothing, I suddenly saw fashion in a way I never dreamed of before. Shortly afterwards, I realized exactly what I wanted to do. I would put together outfits with clothing from designers such as Oscar de la Renta and Marc Jacobs and use them to create a story for the readers. I would also write articles on runway shows or popular trends, perhaps even about the complex dynamics of the fashion industry. Ultimately I would want to inspire others just as I once was inspired myself. An idol of mine, Grace Coddington who is the creative director of Vogue, once said when asked why she wanted to be a stylist, â€Å"I like fairytales and I like dreaming. I try to weave the reality into the dream.† I hope to one day follow in her footsteps and create iconic images for a magazine. To this day, my heart still pounds when scanning the pages of Vogue, Harper’s Bazaar, and Elle. Every morning I pull out clothing from my closet and get thrilled to make my type of art. It all began one early morning, so unexpectedly. Who knew leg warmers could be so inspiring?