CHAPTER 5
GLOBAL
BUSINESS
ETHICS
Global Business Ethics PRISMS
1. Should business be amoral
(values-neutral)?
2. Are lobbying & campaign
contributions a form of bribery?
3. Do the benefits of industry
deregulation outweigh the costs?
4. Which is more important: Profit
maximization or avoidance of
conflict of interest?
5. Who should pick corporate board
members?
6. Is capitalism any good without good
people?
7. What do you do when the regulators
have to be regulated?
8. Has the exception become the rule in
American business?
9. Do most powerful capitalist nations
lack a sense of community?
10. Is business ethics more
legal or moral?
11. Should American business
be more heavily
regulated?
12. Is the business
community too flawed to
police itself?
13.Can private capitalism also
serve the public interest?
Capitalism is no better than
the capitalists, who are
seldom better than their
culture.
As a nation goes, so goes
capitalism.
“Judaism, Christianity and Islam all
affirm the right of individual
ownership and private property, but
there are moral limits imposed on
absolute private ownership of wealth
and property. Each of these religious
traditions affirm that we are not
individuals alone but exist in
community—a community that
makes claims upon us. The notion
that “it is all mine” is a violation of
these teachings and traditions.”
ETHICS &
CAPITALISM
BUILT-IN WEAKNESSES OF AMERICAN CAPITALISM THAT
SPAWNED THE NEW MILLENNIUM BUSINESS SCANDALS
1. Profit maximization, single stakeholder
capitalist ideology
2. Lobbying & campaign contributions
3. Deregulation (belief that markets
adequately regulate themselves)
4. Cultural emphasis on short-term
performance
5. Runaway individualism triumphing over
community
6. Amoral business operations (belief in the
justness of the marketplace)
SO IS CAPITALISM TRUSTWORTHY?
1. Capitalists, not capitalism, determine the
social values & behavior of business.
Whatever capitalists want capitalism to
do, it will do.
2. Most capitalist business leaders are
honest, well-intentioned people who try
to do the right things in the right way.
However, should the system sustaining
capitalism be perverted by misguided
politics or profiteering, society pays a
price & capitalism gets a black eye.
3. Business walks a thin line between
serving the interests of society &
exploiting society. When business &
political leaders step onto the wrong
side of the line, business & capitalism
are thrown out of kilter, diminishing
society’s trust in capitalism &
democracy.
4. The bigger question from the
standpoint of global business is
whether or not the world’s trust in
capitalism & democracy has also
diminished.
THE ETHICAL STAKES OF GLOBAL
CORPORATIONS
1. Global corporations, the most powerful
non-governmental entities on earth, are
subject to even less ethical accountability
than purely domestic companies.
2. Global companies can sometimes be
non-patriotic soldiers of fortune that place
economic self-interest over the needs of
entire nations & citizens.
3. Furthermore, global corporations cater
to government officials throughout the
world in the pursuit of power & business
opportunity.
4. Additionally, global corporations are
backed by the most powerful nations in
the world and, to a significant extent,
by global government organizations.
5. Thus, the potential for ethical
misconduct or socially irresponsible
behavior is even higher in global
business than in domestic business—
more power is involved & more people
are affected.
6. Many people in the world, especially in
developing nations, have serious
reservations about Enron-era
capitalism. Can Americans blame them?
FOREIGNERS ELECTING AMERICAN
CANDIDATES?
In 2010, the U.S. Supreme Court
ruled for the first time that foreigners
may make campaign contributions to
American political candidates. “The
more complicated questions is how to
treat U.S. subsidiaries of foreign
companies or American corporations
that are controlled by foreigner
investors.”
LEGAL BUSINESS BRIBES
America’s financial sector spent more than
$5B in lobbying & campaign financing in
support of industry deregulation (which
was the prime cause of the 2008 subprime
mortgage scandal). Of the $5B, accounting
firms spent $155M on campaign
contributions & $383M on lobbying;
brokerage forms spent $513M on
campaigns & $600M on lobbying.
Corporations covered all their political
bases, giving 55% of the $$$ to
Republicans & 45% to Democrats.
1. Just since the year 2000, 642
business defendants in 290
separate cases of federal whitecollar crime, with 250 guilty
verdicts
2. CEOS of 25 different companies
indicted
3. 59 suits filed over two years against
Wall Street brokerage firms due to
alleged conflict of interest research
opinions
4. “In 2001 alone, 270 corporations
fraudulently “restated” the numbers in
their financial statements. From 19972001, a total of 1,089 companies
apparently did so. All told, these
transactions have cost investors billions
of dollars. It increasingly appears that
the economic “boom” of the 1990s may
have been a house of cards built on
fraud. The Pied Piper of the bull market
and the elusive dream of endless profits
put the economy and the culture into an
addictive state of financial
irresponsibility.”
THE NEW ERA OF AMERICAN
BUSINESS SCANDALS
1. Savings & Loan industry
wipeout in the 1980s
2. Accounting manipulation
scandals of the early
2000s
3. Mutual funds scandals of
the 2000s
4. Wall Street global mortgages &
derivatives scandals of the late
2000s
5. Executive pay corruption of the
2000s
6. 2000s systematic disassembling
of business regulatory agencies
& conflict-of-interest
appointments of corporate
executives as agency heads
7. Unprecedented corporate
influence peddling via megacampaign contributions to
federal & state politicians
during the 2000s
8. Corporations electing to pay the
damages of fraudulent
practices instead of engaging in
socially responsible business
practices: Toyota, BP,
investment banks
9. Late 2000s scandals involving the
government clean-up of business
damage to consumers & the
environment: Hurricane Katrina, British
Petroleum oil spill
10. In an 18-month period in 2010-2011,
federal investigators convicted 36
investment “entrepreneurs,” including
those fronting large hedge funds
(“country clubs” of high-risk, high-return
investments) with insider trading (using
predatory fraud & deception to steal
millions from major investors).
HOW THE BUSINESS SCANDALS OF
THE NEW MILLENNIUM ARE UNIQUE
1. The majority of them involved flagrant
mutual cooperation between corporate
executives, board members, CPA firms
(regulators), politicians, & lobbyists—
the entire financial infrastructure of
America.
2. U.S. capitalism has rotted from within as
the institutional infrastructure designed
to safeguard shareholders has been
systemically perverted & stockholders
made victims of “drive-by shootings.”
“Profit-maximizing capitalism &
market deregulation have pressured
executives to deliver quick returns
on investments & to focus on strictly
short-term performance. Faced with
mounting pressures to make record
profits & to take advantage of
relaxed regulations, record numbers
of executives haven’t been able to
resist the unethical temptations to
engage in or tolerate corrupt
practices.”
How long does it
take for an
amputated arm
to grow back?
(Once a system has
broken down, can it be
repaired and made “like
new” again?)
AMERICAN ECONOMIC & SOCIAL
EXPLOITATIVE SYSTEMS
(right click on title
& select “open hyperlink”)
“We live with cultural
pressures unrelentingly
focused upon free
market competition and
consumption, as if the
meaning of life is
compete, consume, and
die.”
C21
ETHICAL
LESSONS
“We live with cultural
pressures unrelentingly
focused upon free
market competition and
consumption, as if the
meaning of life is
compete, consume, and
die.”
THE 21st CENTURY UNETHICAL
ALLIANCE OF CAPITALISM
Self-serving CEOs
+
“Insider” boards (hand-picked by
executives)
+
Unethical accounting firms
+
Irresponsible politicians
1. How could BIGCPA think it was
ethical to audit their own
consulting clients? (The
auditing divisions wanted to
help the consulting divisions
succeed)
2. Why didn’t the establishment
attempt to block BIGCPA’s
conflict of interest strategy?
(Politicians were getting
campaign contributions for
deregulating the financial
services industry)
3. Why didn’t business schools
set the record straight?
(They wanted jobs for their
accounting majors)
4. Why did corporate boards
look the other way at
accounting fraud? (Because
they were “lapdog” boards
chosen by corporate
executives for their “goodole-boy” loyalty & support)
IS THE AMERICAN GOVERNMENT PART OF THE
SOLUTION OR PART OF THE PROBLEM?
1. Deregulation of the energy &
financial services industries in the
1990s (including brokerage &
currency exchange firms that
surfaced in the financial scandals
after 2000)
2. Under-funding of the Securities and
Exchange Commission & IRS
3. Slimy campaign contributions by
financial service companies
ENRON’S POLITICAL MATRIX
“Enron turned the art of lobbying into a science
through an ingenious software program it
called the Matrix. Like the one in the movie,
Enron’s matrix sought to control Washington
politicians with a simple computer program.
Every time a new piece of legislation or
change in government policy loomed on the
horizon, Enron programmers would log the
info into their “matrix” to estimate the
financial impact of on Enron’s operations. If
the results were not to Enron’s liking, their
well-funded lobbyists in Washington would
swoop in like marauding Huns.”
What do you do
when the
regulators have
to be
regulated?
“Over-scheduling fits right
in with the mass consumer
mentality. I’m busy,
therefore I am, seems to
define us. In order to
validate our existence, we
fill our lives with a lot of
things to do and a lot of
stuff to consume.”
LAP Dog Boards
“Good ole boy” rubber stamp boards chosen by
company executives to avoid accountability
for their performance
EXECUTIVE VIDEO-GAMESTERS
Many of the financial
wheeler/dealers involved in the
recent corporate scandals may have
been driven by the mentality of
video gamesters or computer
hackers seeking to see just how far
“creative” corporate finance could
be taken—an experiment in pushing
the boundaries of corporate finance
& greed to unheard of levels.
1.
ELITE EXECUTIVES
The difference between the compensation of
corporate chief executive officers (CEOs) and the
pay of factory workers is gaping and growing
steadily in the United States. In 2001, executives
of surveyed corporations in the United States
made more than $11 million—some 350 times as
much as the average factory worker (vs. 16 to 1
in Japan & 4 to 1 in Sweden.
2. Today, the U.S. gap is at least 10 times greater
than the differential in other industrial nations,
where tax laws and cultural norms have
prevented huge increases in executive pay.
3. The average executive compensation of $11
million in the United States compares with the
average pay of factory workers of $31,260.
The difference between the compensation of
American corporate chief executive officers
(CEOs) and the pay of factory workers is
large & getting wider. In 2001, executives
of surveyed corporations in the United
States made more than $11 million—350
times as much as the average factory
worker’s $31,260 annual pay . And this
earnings differential grew more than
fivefold between 1990 and 2001. In 2007,
execs made 179 times more than “rank and
file” workers. If the minimum wage had
grown as fast since 1990, the minimum
wage would now be almost $23 per hour.
Between 1994 and 2007,
executives pay increased $90 for
every dollar gained by lower level
workers. Today, the U.S. top-tobottom pay gap is at least 10
times greater than the differential
in other industrial nations, where
tax laws and cultural norms have
blocked huge increases in
executive pay.
Bonuses received by
executives in
America’s 100 largest
corporation rose 46%
from 2003-2004. The
median bonus was
$1.4M
NEW SEC MANDATES
FOR REPORTING EXEC PAY
In an effort to more clearly and fully inform
stockholders of the true compensation
of executives, the Securities and
Exchange Commission has mandated
that the following information must be
disclosed in annual reports of executive
pay: salary, bonuses, stock awards,
stock option gains, non-equity incentive
plans, & misc. compensation. The new
law makes it more difficult for
corporations to hide unauthorized,
hidden, or fraudulent forms of exec. pay.
1. The Sarbanes-Oxley Act (SOX) of 2002
mandated rules of accountability for corporate
executives, boards, & regulators that used to
be taken for granted. The very concept of
business professionalism assumed that
executives were honest and looking out for
company stockholders; assumed that boards
were holding executives accountable; and
assumed that financial regulators were
holding corporations accountable. In the postEnron era, these assumptions are no longer
valid.
2. The newly created Public Company Accounting
Oversight Board (PCAOB) is nothing more
than a regulator for the regulators. Who will
regulate the PCAOB?
3. Under SOX regulations: (1) Auditors are
prohibited from doing non-auditing work
for clients; (2) Companies must establish
independent audit committees; (3) Boards
can’t make loans to executives; (4) Top
executives must certify accounting reports
upon their release [the infamous section
404; & (5) Employee “whistle-blowers” are
extended more job security.
4. “Some studies have concluded that the
costs of SOX (in the millions annually for
most companies) far outweigh the gains &
that SOX is especially burdensome for
smaller companies.”
THE 3 PILLARS OF
AMERICAN CAPITALISM
1. Short-term profit (& operations
efficiency) maximization
2. Corporation serves stockholder
interests only
3. Values neutrality (business
doesn’t decide what products
are good, the marketplace
does)
NEW IDEOLOGICAL QUESTIONS IN THE
WAKE ON THE ENRON ERA
1. Have the Enron era ethics scandals soured
the world’s attitude on the American
“laissez faire” (individualist) capitalist
system?
2. Does C21 American capitalism lack a sense
of community?
3. Does short-term profit maximization/single
stakeholder capitalism promote unethical
business behavior?
4. Should the American business system be more
heavily regulated?
WW III: THE NEW MILLENNIUM'S
EMERGING IDEOLOGICAL WARFARE
1. GAC (Global Anti-Growth
Coalition) vs. Western
capitalism
2. Many developing nations (the
vast majority of the global
population) feel victimized by
the exporting of individualistic,
laissez faire capitalist values
WORLD CITIZENS ADMIRE AMERICA’S
FREEDOM AND TECHNOLOGY, BUT NOT
ITS SOCIAL VALUES:
% who feel the spread of
American values is bad for the
world:
54%
67%
71%
84%
of
of
of
of
Canadians
Germans
the French
Egyptians
THE GLOBAL CORRUPTION INDEX
1. According to the Transparency Index, the
most respected index of global corruption,
Chad is the most corrupt nation to do
business in, followed by Bangladesh,
Turkmenistan, Myanmar, Haiti, & Nigeria.
Other nations high on the corruption list
include Kenya, Indonesia, Venezuela,
Cambodia, Russia, Ecuador & Bolivia, & the
Philippines.
2. Among the least corrupt are the
Scandinavian nations, Singapore, Australia,
Britain, Canada, Germany & the USA
(ranked 17th from the top).
DOING YOUR ETHICS HOMEWORK
1. Negative impacts awareness report: Look
at damage that could result
unintentionally in developing nations
(eliminating jobs with technology,
putting domestic firms out of business,
etc.)
2. Ethics operating environment report:
Know how business is conducted in
developing nations & “look before you
leap.”
3. Don’t go where you ain’t appreciated (so
you can play by your own ethical rules
rather than the often corrupt rules in
non-institutional cultures.).
ADVICE FROM LIZ MARAIST, ETHICS
COMPLIANCE OFFICER FOR J. RAY MCDERMOTT
1.To successfully comply with Sarbanes-Oxley, every
company should have a code of conduct for the
following areas: conflict of interest; entertainment
& gifts; procurement integrity; antitrust
compliance; worker safety; environmental
protection; integrity of records; data security &
privacy.
2. The following actions promote successful
implementation of corporate ethics programs: 24hour employee ethics advisory hotline; transparent
discussion/training regarding ethical issues the
company wrestles with; grass-roots monitors of
ethical practices; consistent & timely follow-up on
all ethics problems.
Don’t violate “arbitrary” laws
(“everybody’s doing it.”)
Just because you can get
away with it, doesn’t
mean you should try
ARBITRARY LAWS (unethical activities
corporations know are illegal but
sometimes engage in because “everybody
else does it”)
1.
2.
3.
4.
5.
6.
Inside stock trading
Sweat shops
Polluting
Bribery
Using black market currency
“Social dumping” (manufacturing in
nations with lax enforcement of laws
designed to regulate business)
ARTITRARY ETHICS
1. Don’t obey laws no one else obeys.
2. Cheat when other cheat.
3. You don’t have to break laws
you helped get passed to
benefit yourself.
4. Giving money to politicians is
legal, but not ethical.
5. Boards are the ultimate goodold-boy network (fat cats
helping each other get fatter).
1. In today’s ethically schizophrenic
culture, you have to know what your
ethical standards are & assertively
stand up for them when necessary.
2. Most professionals today resort to
following external professional codes
of ethics rather than internalized
convictions
3. Most institutions go by the letter of the
law rather than the spirit of the law.
4. Americans tend to value pragmatism
(cutting ethical corners to get ahead)
over principle (doing the right thing).
What justice should look like:
Restitution Ethics Policy
Felons pay back their victims through
work restitution programs
Jail is the
easy,
gutless
way out.
Imagine if the $20,000+
annual cost of each
inmate in Texas prisons
could be used for the
restitution of crime victims
We are too flawed to police
ourselves—Triangulation is
mandatory:
(A) The government watching
regulators watching companies
(B) Employees watching
their companies
(C) The media watching the
government & companies
3 APPROACHES TO SOCIALLY
RESPONSIBLE GLOBAL INVESTING
1. Screening: Eliminating
investments in global companies
that engage in exploitative
competitive behavior
2. Shareholder advocacy: Investing
in companies for the purpose of
influencing its global behavior
3. Community investing: Investing in
local communities that are typically
bypassed by institutional investors
Do the USA & West have any
responsibilities to help alleviate AIDS
& other epidemic diseases in Africa?
How does ideological capitalism
(profit/efficiency maximization +
commitment to stockholders only)
keep American pharmaceuticals
from donating the drugs?
It’s not the company’s
$$ to give away.
It belongs to
stockholders.
Merck pharmaceuticals
did recently donate
large amounts of a drug
to stop “river blindness”
(blindness spread by
parasitical worms),
helping to save the sight
of 600,000 west
Africans.
The head of the World Council of
Churches recently advocated that
developing countries violate drug
patents and copyrights if that is the
only way people with AIDS and other
virulent diseases can survive.
International trade rules require WTO
member nations to enforce drug
patents, which usually drives up the
price of these drugs beyond the reach
of most of the world’s population.
Nations which violate patents face
economic sanctions from the WTO.
1. Blackmarketing of products made in
developing nations (Do you know
where your clothes were made?)
2. The perverted MBA mentality of
turning business into a video game
of fast track career building, or the
hacker’s mentality of “What can I
get away with?”
3. Amoral values neutrality:
corporations don’t take a stand on
how worthwhile their products
are—it leaves this up to the
marketplace.
THE CHALLENGE OF A LIFETIME
1. What will you do if you
are an ethical person
working in a corrupt
system?
2. It all depends on how
important your career is
to you.
CAPITALISM’S
MISSING
INGREDIENT:
COMMUNITY
1. Invisible capitalism impacts invisible
vulnerable communities (home owners,
the “working man,” middle class
retirees living off meager Social
Security, etc.)
2. Profit-seeking is intentional; benefiting
communities is unintentional
3. Large corporations seek autonomy, not
interdependency (accountability)
4. Business feeds off consumerism, which
feeds off debt (financial services),
which ruins community
5. Greed ultimately kills community
LETTER TO THE EDITOR. Let’s call the $700 billion
banking bailout plan just what it is — pure and
simple theft. Stock market investors know the
risks when they get involved. The investors who
were fooled by the greedy investment bank
CEOs should be the ones to foot the bill for the
bailout plan, not taxpayers like me. The
politicians who have openly stolen are thieves
and don’t deserve to be re-elected. And since
the rest of the industrialized world is being
affected, additional bailout money will have to
come from other nations to keep the US from
damaging their economies. US sovereignty is
being compromised by all of this indebtedness.
“ACES”
Anti-Community
Exploitative
Systems
(right click on title
& select “open hyperlink”)
CHANGING
CAPITALISM TO
BENEFIT A
CHANGING
WORLD
A FEASIBLE ALTERNATIVE
CAPITALIST IDEOLOGY?
1. Profit “satisficing,” not
maximizing
2. Dual bottom lines: Profit for
stockholders + service to
non-stockholders
3. Smaller companies =
accountable capitalism
1. Tax-funded state colleges & universities
have little latitude in spending money on
anything but state-mandated budgeted
items. Private universities, however, are
free to spend as they please, because
they operate according to their own
priorities.
2. As the only independent school in the Big
12, Baylor University has autonomous
control over its own decision-making,
giving it the opportunity to spend on
worthy community-outreach projects if it
so chooses—without state restrictions.
Baylor is free to serve whom it pleases.
THE IDEALISTIC SOLUTION: WORK
FOR OR START A PRIVATE COMPANY
1.Staying private enables you to
play by your own rules instead
of catering to whatever the fickle
marketplace wants.
2.Private companies don’t have
to maximize profit in the short
run & serve only stockholders.
BUILT-IN ETHICAL ACCOUNTABILITY
IN SMALL BUSINESS
Unlike large, impersonal corporations, smaller
companies must build a personal bond with
their customers based on mutual trust &
respect. Unethical behavior has no place in this
relationship, because it destroys trust. Thus,
small companies must enter into an
accountability partnership with their various
stakeholders (customers, financers, suppliers,
etc.) which reduces the likelihood of unethical
or exploitative business behavior. Large
corporations are less accountable because of
their economic power over stakeholders and
capacity to conduct business in a largely
anonymous, impersonal capacity.
“We live with cultural
pressures unrelentingly
focused upon free
market competition and
consumption, as if the
meaning of life is
compete, consume, and
die.”
ETHICAL
BUSINESS IS
SUSTAINING &
BUILDING
COMMUNITY
ETHICAL BEHAVIOR IS NOT
DEFINED AS:
1.Obeying the law
2.Doing what others do
3.Maintaining a standard
4.Being nice
5.Making money legitimately
ETHICAL BUSINESS
PROFESSIONALS STRIVE TO:
1.Maximize the positive
community impacts of
business behavior
2.Minimize negative
impacts of business
behavior
3 CONCEPTS OF
BUSINESS ETHICS
1. Legalistic
2. Imaging
3. Communitybuilding
#1 LEGALISTIC ETHICS
Laws
Courts
Trials & Suits
Lawyers
PR
Media
THE LEGALISTIC ETHICS GAME
•Use the system for self
gain
•Abuse the system
•Letter of the law
•Loopholes
•Litigation
•Lawyers
•Plea bargaining
•PR
•Time off for good
behavior
•Recycle back into the
system & replay
MOST COMMON LEGALISTIC
ETHICAL TENSIONS
•Defining ethical
behavior legally
•Proving legal breaches
•Neutralizing the
influence of vested
interests
•Measuring the
damage done by legal
infractions
•Tolerating lax ethical
standards in many
industries
•Amoral capitalism
#2 IMAGING: False facades
•High social status of
company
•Hologram public image
•PR good works
•Insider awards
•PR coup for your company
•Maintenance of
community violations in
your company
THE IMAGING ETHICS GAME
•Advertising & PR imagebuilding
•Join self-aggrandizing elitist
groups
•Engage in publicized visible
good works
•Receive “community” awards
from fellow elitists
•Recycle & repeat
MOST COMMON IMAGING
ETHICAL TENSIONS
•Self-focus > community focus
•Using the system for self-gain
rather than changing the
system
•Inconsistencies between
company image & community
practices
#3 COMMUNITYBUILDING ETHICS
Community = all
those directly &
indirectly affected
by the pursuit of
self-interest
CAPITALISTS ETHICALLY AFFECT:
•National governments
•Markets
•Industries
•Corporations
•Executives
•Employees
•Consumers
•Economic communities
•Social communities
MOST COMMON COMMUNITY ETHICS
OBSTACLES
•Impersonal marketplace,
profit maximization,
stakeholder minimization
•Amoral MBA mentality
•Political power of
corporations
•Industry oligopolies
•Colonialism & turbocapitalism
•VAC dominance by a few
private interests
•Uninformed consumers
•National protectionism
•Trade wars
COMMUNITY ETHICS
COMMITMENTS
•Commitment to multiple
corp. constituents
•Accountability to
stakeholders
•Profit satisficing in a
multiple-gain system
•People before profit
•Others before self
•Sustainable incomes
•Long-term profit >
short-term
•Closed stock ownership
to maintain idealistic
values
“Deregulated global
business allows
corporations to wander
the globe in search of
ever lower wages and
laxer environmental
standards.”
INDIA’S TATA GROUP:
GLOBAL COMMUNITY
CAPITALIST
The India-based Tata Group is a
highly diversified global company
that specialized in making small,
affordable cars for developing
nations. Founded in 1868 &
controlled by charitable trusts,
Tata “has long insulated
employees from the greed that is
sweeping the corporate world.”
This stems from a unique
multicultural operating approach:
1. Buying companies in the global
marketplace to improve their operations,
not subject them to cost-cutting.
2. Forming a new multinational
management community board to lead
the acquired company made up of its
executives combined with Tata
executives.
3. Cultural differences between Tataaffiliated companies across the globe
are smoothed over via tolerance of
cultural differences & a culturallyaccommodating professional
environment.
HOW TO BE
LEGALLY
UNETHICAL
It is possible to be legally (obeying the law)
unethical (harming community) simply by
using existing imperfect exploitation
systems that are legal, such as:
1. Buying political influence via large
financial contribution to political action
campaigns & lobbying.
2. Allowing top executives to pick their own
board members.
3. Paying workers minimum, but not
sustainable, wages.
4. Taking advantage of business
deregulation that reduces corporate
responsibility towards community
stakeholders.
5. Using predatory, but legal, competitive
tactics, such as price wars, buying out
competitors, & selling below cost.
6. Off shoring manufacturing & closing
domestic plants.
7. Engaging in highly leveraged business
growth
8. Outsourcing illegal business behaviors
at home, such as pollution, to foreign
nations where such practices are
unregulated.
9. Personal workaholism and neglect of
dependents (family).