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Microsoft Word - AssessmentBriefs_BEG306 T1 2021.docx Assessment Brief Business Faculty Business Ethics and Governance BEG306 Level 300 ASSESSMENT BRIEF Business Ethics and Governance File: BEG306 T1 2021 Business Ethics and Governance Assessment 1 Portfolio Report Due: Week 5 Weighting: 20% Type: Portfolio Report Learning Outcomes: a. Describe the principles of good corporate governance including the role of boards and directors and the rights and responsibilities of shareholders b. Describe the obligations and expectations of corporate and company officers c. Identify the key instruments, institutions, and legislation responsible for ensuring and maintaining good corporate governance d. Describe and discuss key concepts and theories associated with the study of ethics and their application to contemporary business f. Identify and critically assess the implications of ethics and good corporate governance in the realisation of strategic business aims and objectives Description: Reports and studies provide students with an opportunity to conduct research into real-world events, organisations, and organisational practices and to draw relevant and critical judgements and assessments. In this assessment students are required to compile a portfolio of examples of good ethical practice. Examples will be drawn from the media or from other publicly available corporate information. Portfolios should include between four and six examples of good corporate and ethical practice (especially as it relates to accounting practice), which might include demonstrations of environmental responsibility, good governance, or other ethical or community- oriented behaviours. The portfolios should be presented as formal reports (approx. 1500 words) including a description of the business and an analysis of the subject corporate behaviour. ASSESSMENT BRIEF Business Ethics and Governance File: BEG306 T1 2021 Marking Rubric Ethical and social perspectives: The ability to demonstrate understanding of social and ethical dimensions in chosen disciplinary areas Trimester: T1, 2021 Student Name: _________________ Student ID Number: ___________________ Criteria Below Expectations 1 (Fail) Meets Expectations 2 (Pass-Credit) Exceeds Expectations 3 (Distinction-High Distinction) Score (Circle) 1. Identification of social and ethical issues • Student fails to identify any social or ethical issues in a discipline specific example • Student can identify a discipline specific business example as having an ethical or social dimension, but may not be able to adequately justify • Student can identify a discipline specific business issue as having an ethical or social dimension, and can provide a detailed explanation of why 1 2 3 2. Analysis of impact • Student cannot identify the main stakeholders • Student can identify a number of relevant stakeholders, but may not provide a complete list. • Student may be able to describe the position of any one of the stakeholders. • Student can identify a complete list of relevant stakeholders, and be able to examine and evaluate the impact of the issue from a number of different perspectives. • Student will be able to analyse and argue the position of any one of the stakeholders. 1 2 3 3. Decision making • Student cannot identify appropriate frameworks • Student can identify a number of appropriate frameworks to analyse the situation, and determine an appropriate course of action. • Justification of the decision will be lacking. • Student will apply a number of frameworks to analyse the situation before determining appropriate course of action. Student will be able to provide a detailed justification of decision. 1 2 3 4. Understand the professional codes of conduct and their use in responding to ethical dilemmas in the practice of a discipline • Demonstrates little or no understanding of relevant professional codes of conduct. • Does not demonstrate how codes can be used in responding to ethical dilemmas in professional practice. • Identifies and explains relevant professional codes of conduct. • Applies codes of conduct or explains how they apply in promoting ethical conduct and responding to ethical dilemmas in professional practice. • Comprehensively identifies and explains relevant professional codes of conduct • Applies and evaluates the use of codes of conduct in responding to ethical dilemmas in professional practice. 1 2 3 Total ASSESSMENT BRIEF Business Ethics and Governance File: BEG306 T1 2021 Assessment 2 Case Study Analysis (Individual) Due: Week 10 Weighting: 30% Type: Case study Analysis Learning Outcomes: a. Describe the principles of good corporate governance including the role of boards and directors and the rights and responsibilities of shareholders b. Describe the obligations and expectations of corporate and company officers d. Describe and discuss key concepts and theories associated with the study of ethics and their application to contemporary business f. Identify and critically assess the implications of ethics and good corporate governance in the realisation of strategic business aims and objectives Description: Context: This assessment allows students to demonstrate understanding of a broad and coherent knowledge of ethics and governance in business. Instructions: you are required to critically analyse a case study, given below, that raise moral issues in business. With respect to the case study: • Identify the ethical issue(s) that arising from the corporate culture of Enron contribute to its bankruptcy. • Identify the breach of ethical principles that bankers, auditors, and attorneys contribute to Enron’s demise. • Apply the moral principles and business ethics to discuss the role played by the company’s chief financial officer & CEO in creating the problems that led to Enron’s financial problems • Reach a conclusion. Your analysis should refer to appropriate cases and statutes and be referenced using the Harvard Reference system. You will be assessed in accordance with the Assessment Rubric provided below. Case Study: CASE 20 Enron: Not Accounting for the Future* *This case was developed by Jennifer Sawayda, Harper Baird, Jennifer Jackson, Michelle Urban, and Neil Herndon for and under the direction of O.C. and Linda Ferrell. The authors conducted personal interviews with Ken Lay in 2006 in the development of this case. In 2014 they invited Andy Fastow to speak and had the opportunity to assess his current perspective on Enron and how to prevent financial misconduct. It was prepared for classroom discussion rather than to illustrate either effective or ineffective handling of an administrative, ethical, or legal decision by management. All sources used for this case were obtained through publicly available material © 2019. INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant “E,” slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm laid off 4,000 employees; thousands ASSESSMENT BRIEF Business Ethics and Governance File: BEG306 T1 2021 more lost their retirement savings, which had been invested in Enron stock. The company’s shareholders lost tens of billions of dollars after the stock price plummeted. The scandal surrounding Enron’s demise engendered a global loss of confidence in corporate integrity that continues to plague markets today, and eventually it triggered tough new scrutiny of financial reporting practices. In an attempt to under- stand what went wrong, this case will examine the history, culture, and major players in the Enron scandal. ENRON’S HISTORY The Enron Corporation was created out of the merger of two major gas pipeline companies in 1985. Through its subsidiaries and numerous affiliates, the company provided goods and services related to natural gas, electricity, and communications for its wholesale and retail customers. Enron transported natural gas through pipelines to customers all over the United States. It generated, transmitted, and distributed electricity to the north-western United States and marketed natural gas, electricity, and other commodities globally. It was also involved in the development, construction, and operation of power plants, pipelines, and other energy-related projects all over the world, including the delivery and management of energy to retail customers in both the industrial and commercial business sectors. Throughout the 1990s, Chairman Ken Lay, CEO Jeffrey Skilling, and CFO Andrew (Andy) Fastow transformed Enron from an old-style electricity and gas company into a $150 billion energy company and Wall Street favourite that traded power contracts in the investment markets. From 1998 to 2000 alone, Enron’s revenues grew from about $31 billion to more than $100 billion, making it the seventh-largest company in the Fortune 500. Enron’s wholesale energy income represented about 93 percent of 2000 revenues, with another 4 percent derived from natural gas and electricity. The remaining 3 percent came