This assignment provides you with an opportunity to summarize ethics in financial responsibilities and to evaluate ethical considerations of executive compensation by writing a persuasive essay. In your essay, take a position on the following topics, and support it with evidence. Evidence can be facts, statistics, and quotes from scholarly articles, reliable news sources, or even anecdotal examples from personal experience. You may use any of the readings from this course, or you may find new ones to support your position. At least two pieces of evidence should be used (one for each topic).
1- Do you think executive compensation in its various parts (i.e., salary, stock options, severance packages) funded at the current level is unethical? If so, how would you revise the compensation so that it was just? On what basis would you change it? Does the government have a role to play? If so, in what manner?
2- Is the Sarbanes-Oxley Act too strict, not strict enough, or just right? Explain.
Your essay should be at least 500 words in length, double-spaced, and written in Times New Roman, 12-point font. Use APA Style to format your citations.
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BUSINESS ETHICS – UNIT 7 Essay
- Do you think executive compensation in its various parts (i.e., salary, stock options, severance packages) funded at the current level is unethical? If so, how would you revise the compensation so that it was just? On what basis would you change it? Does the government have a role to play? If so, in what manner?
Yes, I think executive compensation in its various parts at its current level is unethical since it was structured without valid justification. As opposed to other salaries that are structured based on various parameters such as level of hazard, level of experience, level and cost of education, and minimum wage, the current executive compensation lacks the basis of these criteria(Kleymenova, 2016). Comparing the working environment with other workers such as mine workers, the working environment of the mine workers is very risk. Also, some executive does not highest possible level of education as other workers, but they still enjoy lucrative benefits, than the highly learned workers.
Considering that executive possesses immense power and influence in the organization, the current compensation package they enjoy make workers to be demoralized and erodes the ethical climate of the company(Pollard, 2014). For example, when a teller in a financial institution feels unappreciated, he/she may engage in upselling their customers. This unethical behavior is costly to the consumer. It is important demystify the notion that high compensation package given to executive has direct correlation with better performance. I would revise the compensation to match those of the public officials in similar positions, which will form the foundations. For instance, if the President of the United States earns $400,000 as the top executive official of the country, an executive of the company should not earn more than that(Pollard, 2014). To make these changes legal, the government agencies needs to put in place regulations and laws…………………………………………………………………………………………………
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