EXPLORATIVE CASE ANALYSIS OF ETHICAL FINANCIERS AND ELICITING MILLENNIALS PERSPECTIVES OF FINANCIAL MARKET SCANDALS
Abstract
Today’s markets are competitive and its evident that excellence in our operations, providing consumers with a phenomenal experience, and acting in ethical behavior can be challenging thus creating pressure to meet objectives within organizations. The government Accountability Office estimated that the financial crisis of 2008 cost the United States economy an estimated 22 trillion dollars. Research has documented that government regulations alone don’t deter organizations from unethical conduct, there are several laws and penalties imposed yet under the pressure to stay competitive, the organizations are even today caught in unethical conduct with Wells Fargo as the latest scandal. The objective of this research was to inquire and understand millennials viewpoints on corporate scandals; leaders and workers’ integration of individual morals with ethics; and the impact of the unethical conduct on organizations sustainability. Organizations are the powerhouse of our economy and if not handled ethically will contribute to turmoil to the United States and the world; the integration of individual moral that we have within us from our foundation as children with ethics and adherence of the code of conduct will lead to sustainable organizations, 2013; Shahriar & Diken, 2016). Organizational ethics as shared by Chron entails the standards and principles whereby business is conducted via honor and responsibility, compassion, and fairness; code of conduct is core detailing business principles to guide the organization as the ethical philosophy contributes to productivity and sustainability (Kelchner, 2017; Suttle, 2017; Valentine, Hollingworth, & Eidsness (2014). A healthy organization with solid reputation also contributes to organizational sustainability; this can be achieved when leaders’ individual moral values are in play and leaders encourages workers to work with integrity and honesty thus enhancing organizational reputation in the business and society (Kelchner, 2017; Lawrence & Weber, 2017; Solomon, 1992; Murphy, 1993).
JEL: D12, P36, P46, D53, G15
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DOI: http://dx.doi.org/10.46827/ejefr.v0i0.164
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