Unfortunately, Over The Last Several Years, There Have Been

Unfortunately Over The Last Several Years There Have Beenmany Examp

Unfortunately, over the last several years, there have been many examples of illegal and unethical business dealings; some involved practicing unethical accounting processes, as well as situations that involved public figures from various genres caught performing various questionable activities. From a philosophical and theoretical point of view, do you feel that individuals holding positions of power or influence should be held to higher levels of accountability for their unethical actions or inactions?

Primary Task Response: Within the Discussion Board area respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates.

Be substantive and clear, and use examples to reinforce your ideas: Using the Internet and library, provide at least 2 examples of how corporations and individuals in positions of power and authority have acted unethically either by their actions or inactions. Regarding the incidences you found, do you feel the individuals should be held to a higher level of accountability based upon their real or perceived power and influence over others? Explain.

Paper For Above instruction

Ethical accountability in positions of power and influence has long been a subject of debate within both philosophical and corporate frameworks. The incidents over recent years, involving unethical business practices by corporations and public figures, highlight the complex dynamics of accountability and the potential for abuse of power. This essay explores the importance of heightened accountability for individuals in positions of influence by examining two notable examples of corporate and individual misconduct, analyzing whether such leaders should be held to a higher standard based on their perceived power, and discussing the broader implications for ethical governance and societal trust.

To understand the gravity of unethical actions committed by those in positions of power, it is crucial to examine specific instances where accountability either failed or was insufficient. One prominent example is the Enron scandal of the early 2000s, where top executives engaged in fraudulent accounting practices to inflate the company’s financial health. Enron’s executives, including CEO Jeffrey Skilling and CFO Andrew Fastow, deliberately manipulated financial reports, deceiving shareholders, employees, and regulators. Their actions not only led to the company's collapse but also resulted in significant financial losses for thousands of investors. This case exemplifies how individuals in influential roles can leverage their authority to commit fraud, often escaping immediate accountability until catastrophic consequences unfold.

Another notable case involves the 2008 financial crisis, where figures like Alan Greenspan, former Federal Reserve Chairman, faced scrutiny for their role in overseeing deregulation of the financial industry. Critics argue that Greenspan’s policies and oversight failures contributed to the buildup of risky financial practices that precipitated the global economic downturn. Although Greenspan was not personally involved in fraudulent activity, his influence and authority in monetary policy were pivotal in shaping the environment that allowed risky behaviors to flourish. This case underscores how inaction or perceived responsibility among powerful leaders can have widespread negative impacts, raising questions about whether such individuals should be held accountable for systemic failures they enabled or overlooked.

These examples illustrate that individuals in positions of power often have a significant influence over organizational and societal outcomes. The principle of higher accountability is rooted in the understanding that power and influence confer additional responsibilities. From a philosophical standpoint, theories such as deontology and virtue ethics emphasize moral duties and character, suggesting that those with greater influence bear a heightened obligation to act ethically. The ethical principle of justice also promotes equitable treatment, arguing that leaders wielding more power should be subject to stricter scrutiny and responsibility to prevent abuse and protect stakeholders.

Moreover, holding influential leaders accountable aligns with societal expectations of fairness and transparency. When powerful individuals evade consequences, public trust diminishes, fueling cynicism and detachment from ethical standards. Conversely, when accountability measures are enforced appropriately, they serve as deterrents to misconduct and reinforce a culture of ethical integrity. For example, regulatory agencies such as the Securities and Exchange Commission (SEC) impose penalties on corporations and individuals whose actions breach legal and ethical boundaries, underscoring the importance of accountability at higher levels of influence.

However, debates persist regarding the proportionality of accountability based on power. Critics argue that overly harsh penalties or selective enforcement may undermine principles of fairness or be exploited for political or personal gains. Nonetheless, the consensus in ethical philosophy and corporate governance supports the notion that higher levels of accountability are justified because those in advanced positions have the capacity to influence countless lives and the overall economic environment. Their actions—or inactions—can either foster trust and stability or lead to widespread harm, as exemplified by corporate scandals and systemic failures.

In conclusion, the examples of unethical behaviour by influential figures reveal the critical need for stringent accountability measures tailored to the level of power and influence held by individuals. Philosophical frameworks advocate for heightened responsibility for those who wield significant sway over economic and social systems. Ensuring accountability not only promotes ethical conduct but also sustains public trust and organizational integrity. Future efforts should focus on establishing robust oversight mechanisms and fostering a culture where ethical accountability is deeply embedded in leadership standards across tiers of influence, thus preventing the recurrence of detrimental misconduct.

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