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In the case of Citigroup, an Individualistic analysis would result in saying Citigroup was unethical. We accept sample papers from students via the submission form. The final theory used to evaluate this ethics case is Virtue Theory. Cooperative Blog, Administrator: Heather Salazar. sample is kindly provided by a student like you, use it only as a guidance. They manipulated their customers for personal benefit, which is unethical to me. Retrieved September 17, 2015. After filling out the order form, you will be directed to payment via Credit Card or another preferred method. Retrieved October 20, 2015. He proposed a way to locate the supporting column of the building at the sides; since, the church had rights over the four corners.

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Get help with 11% off using code -, No, thanks! This claim is evident in LeMessurier argument that it was instructive for students to meddle with the design problem. Citicorp Building ethics problem However to LeMessurier the bolts meant that from EGR 295 at Northern Virginia Community College

By fixing the rates for their own benefit they were selfish, greedy, and dishonest. Type of paper: Six banks fined $5.6bn over. This in itself is unethical. Retrieved October 20, 2015. LeMessurier, also an adjunct professor at Harvard and MIT, decided that this concern would form the basis for an interesting lecture for his engineering students. Course Documents, Test Previews and other resources above may attempt to open or download Adobe PDF files. I believe Citigroup, Inc. was wrong in fixing the foreign exchange rates. I do not mean this monetary wise as they have extremely large fines, just freedom wise.

Individualism (Friedman's Economic Theory), Utilitarianism, Kantianism, and Virtue Theory Analyses of Business Controversies.

Marlboro: Targeting Minors Worldwide in their Ads ... Citigroup, Inc. Accessed 12 November 2020. to fully address ethical responsibilities or when ethical obligations dictate choices that are completely different than those from the business or legal perspectivethese . LeMessurier had a duty to publicize the problem with the building. In the case of Citigroup, the traders involved in the scandal let the vices get the best of them. This was quite professional.

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Individualism is one of various ethical theories, which can be used to analyze a given ethics controversy. December 2019. This theory’s ethical rule is “business actions should maximize profits for the owners of a business, but do so within the law” (Salazar, The Case Manual, p. 17). Harris, Charles, Pritchard Michael, and Rabins Michael. Case Study, Topic:

www.heathersalazar.com, McDonald's "Deceptive" Marketing to Children (2010), Starbucks Scolded for Stifling Competition (2006), Volkswagen: Emissions Scandal Due To Fraudulent Software (2014), The Ethics Behind "The Wolf of Wall Street" (1990s), The Walt Disney Corporation: Marvel CEO Taking Over, Walmarts Ethical Troubles, Lowest Prices for Customer's at Expense of Employees (2016), The Walt Disney Company Layoff of Technicians (2015). I'm fine with missing my deadline, WowEssays. welded onto each of 200 bolted connections. Engineering profession, like any other profession, is governed by a code of ethics.

Distribution . WowEssays. . Proceed if you agree to this policy or learn more about it. Rigging of Foreign Exchange Market Makes. Lastly, LeMessurier attempted to shun other people’s ideas in the design problem. If this essay belongs to you and you no longer want us to display it, you can put a claim on it and we will remove it. For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! but what about the public and the, LeMessurier carefully reviewed all of the calculations, After doing a member-by-member calculation of the, forces and reviewing the weather statistics for New. Some examples of virtues are: honesty, compassion, and temperance. Global banks admit guilt in forex probe, fined. [Accessed November 12, 2020]. According to Kantianism lying, cheating, manipulating, or harming others is considered unethical (Salazar, The Case Manual, p. 20). The values of individualism include profits and the owner's wishes. The Forex Fix: Understanding the Foreign Currency Scam In.

There is a serious lack of “Good Will” within the employees of Citigroup. The decision to change welded joints to bolted joints was an important change that should have been considered more carefully. . If those involved in the scandal had taken the time and effort to embraces their virtues and avoid the vices, the scandal may have not even occurred. Examples of vices include jealousy and greed. The Citicorp building case brings various ethical issues of concern. The third ethical theory used to evaluate the Citigroup, Inc. case is Kantianism.

This resulted to delays in corrective measures. Moreover, he solely designed and estimated the cost and time required for the corrective measures. The Citicorp building case brings various ethical issues of concern. If the traders involved were abiding by the law then the action would be considered in the best interest of the owner, according to Individualism. When looking at "Good Will" specifically, a Kantian would as if Citigroup, Inc. fired their employees because it was right or because they were told they had to. 4th ed. However, immediately after realizing the imminent danger, LeMessurier ignored the facts.

Citigroup has not seen any trouble in business activity after the scandal. In addition, he presented the observation with a complete plan for correcting the building errors. Note: this USA: Wadsworth publishing. Print. Accessed November 12, 2020. This is professional negligence, and it is an unacceptable (Harris, Pritchard, and Rabins). This affected so many people across the globe.

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Base of the Citicorp Center building. Ethics refers to a set of accepted moral standards to be followed by members of a certain group. Customers were lied to by a company they thought they could trust. The traders involved in the fix purposely manipulated their customers for their own benefit. Individualism is one of various ethical theories, which can be used to analyze a given ethics controversy. TIMELINE-The FX fixing scandal. Cases. The fact that they were able to still operate and make a profit seems unjust.

Your financial data is encrypted, safe, and will remain strictly confidential - this is our unbreakable WOW! The values of Virtue Theory include “character traits that promote wellness or flourishing of individuals within a society” (Salazar, The Case Manual, p. 22). This theory’s ethical rule is “business actions should maximize profits for the owners of a business, but do so within the law” (Salazar, The Case Manual, p. 17). However, there were some very interesting, implementation problems, only some of which we, The building's occupants had to be informed without, being alarmed, because the repair work would go on, The public had to be informed why the bank's new, The entire process was open and attentive to public. In addition, it was unethical for LeMessurier to delay reporting his observation, and attempting to shun the ideas of others in the design problem.

", "Case Study On Ethical Issues Citicorp Case Study,". "Case Study On Ethical Issues Citicorp Case Study." Manufacturers View all. Don't waste time. Firstly, the design engineer (LeMessurier) respected the rights of the church in the design of the Citicorp building. Although it is hard to control individual employees' decisions, when talk came up about joining the chat room, Citigroup should have opted out. The values of individualism include profits and the owner's wishes. Secondly, the structural design was followed in the construction of the building. Johnson & Johnson-Risperdal: Manipulation and Dece... Goodyear Tire & Rubber Co.:Unlawful Payments and B... DirecTV: False Advertising and Negative Claims (2015), Enbridge: Northern Gateway Pipeline (2015). Salazar, Heather (2015). (2015). Bringing the problem earlier, and to a panel of professional engineers, may have led to a better, easy and less costly plan of correcting the Citicorp building than LeMessurier presented (Harris, Pritchard, and Rabins).

However, the recommended materials of full penetration welds were replaced with bolted joints. 2019. Thirdly, the design and the construction process satisfied the New York building codes requirements; this was quite professional.

Controversy Apple Inc. logo Apple Inc., in 2011, were accused of treating their employees inhumanly and like machines. Pleads Guilty to the FX Scandal (2... JPMorgan Chase & Co 2015 LIBOR Rigging: Short-Term... General Motors: A Recall Nightmare (2014), PetroChina: The True Cost of Cheap Gas (2013-2015), Facebook: Manipulating Users with No Consent (2012), Oracle: Questionable Personnel Choice (2010). Therefore, ethics in engineering profession is a set of values to be followed by engineers. Royal Dutch Shell: Company’s Precedent Court Case/... American Express: Anti-trust Controversy: (2014-2015). 251089823, Well-researched, fact-checked, and accurate, Eloquently written and immaculately formatted.

show up while the repairs were being made. The effects of such act had not been estimated; thus, compromising the safety of the building and posing a threat of Citicorp collapsing (Harris, Pritchard, and Rabins).

Submitted by KBL781 on Tue, 2010-12-07 09:20. This was unprofessional. Also, the design gave ample space for the church by setting the first floor high at an equivalence of nine stories above the ground (Harris, Pritchard, and Rabins). Available from: https://www.wowessays.com/free-samples/case-study-on-ethical-issues-citicorp-case-study/, "Case Study On Ethical Issues Citicorp Case Study." Kamich, B. Retrieved, Corkery, M., & Protess, B. Virtue Theory declares that if a company, or individual is acting in such a way that they are expressing good character traits and working to avoid bad character traits then they are acting ethically.

Traders were not considered with the effect their decisions had on stakeholders (which is considered ethical under Individualism) but because they broke the law the action is considered unethical. Church, Religion, Design, Profession, Ethics, Building, Real Estate, Professionalism.

Accessed November 12, 2020. https://www.wowessays.com/free-samples/case-study-on-ethical-issues-citicorp-case-study/, WowEssays. Skilled structural welders, who were in short supply, had to be found, as did an adequate supply of the, Discreet, even secret, evacuation plans had to be put, in place, just in case an unexpectedly high wind did.

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