This assignment provides you the opportunity to learn about ethical business behavior that is all around us.
Read Cases from the Real World: Competition and the Markers of Business Success, found in the following:
Byars, S., &Stanberry, K. (2018). Why ethics matter, chapter 1. Business Ethics. Rice University, OpenStax. Retrieved from http://cnx.org/content/col25722/1.3 pg. 15. CC BY 4.0 license
Also view the following interviews with Warren Buffett:
CBS Sunday Morning. (2017, December 3). Sunday profile: Warren Buffett [Video file]. Retrieved from https://www.youtube.com/watch?time_continue=168&v=O665cNwMVGw
PBS NewsHour. (2017, June 26). America should stand for more than just wealth, says Warren Buffett[Video file]. Retrieved from https://www.youtube.com/watch?v=S6irBmOnQEc.
â€œIt takes 20 years to build a reputation and five minutes to ruin it. If you think about that, youâ€™ll do things differently.â€ Warren Buffett
What is an ethical leader? They lead by example and exemplify ethical decision making and conduct focused on a common good. They are known to act with integrity and inspire respect among peers, constituents, and subordinates. Successful ethical leaders are champions of their beliefs and communicate them throughout an organization to develop a supportive culture.
Keep in mind that all people possess virtues and vices, and while they may strive to support ethical tenets, they may fail at times.
In this assignment you also have the opportunity to learn about Bernie Madoff.
Carlson, R. (2019). What Bernie Madoff did and who he defrauded. Retrieved from https://www.thebalancesmb.com/bernard-madoff-and-his-ponzi-scheme-393095
Cold Fusion (2019). The Man Who Stole $65 billion (Bernie Madoff). Retrieved from https://www.youtube.com/watch?v=gDqGSmTPtOQ
Crippen, A. (2008). Warren Buffett: People Thought â€œI was doing some sort of Ponzi Scheme.â€ Retrieved from https://www.cnbc.com/id/28253058/
Maranjian, S. (2017). What Buffett and Madoff Have in Common. The Motley Fool. Retrieved from https://www.fool.com/investing/general/2009/01/07/what-buffett-and-madoff-have-in-common.aspx.
Address the following in a 3- to 4-page essay, demonstrating your critical-thinking skills:
- Discuss Warren Buffettâ€™s approach to business dealings, especially as they relate to business ethics.
- Compare that approach to Bernie Madoffâ€™s.
- Apply ethical philosophies that you have learned about in this Module and state which you think apply to Mr. Buffett.
- Which ethical philosophies apply to Mr. Madoff? Why?
Create a table where you compare and contrast these two investors from an ethical standpoint. Be sure to discuss your table in your paper.
Write a well-integrated paper with a strong introduction and conclusion, and use a few section headings (i.e., do not simply follow a Q & A format).
Use your module background information and any other reliable sources you wish to find. The sources do not need to come from the Trident Online Library. For all sources, however, provide in-text citations and include a reference list.