Hewlett Packard (Hp) And Pretexting: Spying On The Board

2000 words - 8 pages

The reading that was investigated consisted of a case study from Marianne Jennings entitled “Fannie Mae: The Most Ethical Company in America”. Jennings (2009a) writes about how Fannie Mae’s ranking was number one in the United States of America in 2004 as being the most ethical company. Jennings (2009a) writes that CEO Franklin Raines challenged his employees to double Fannie Mae’s earnings per share (EPS) within five years from $3.23 to $6.46. Consequently, this enabled employees and managers to be eligible for an award under incentive plan (AIP) provided they met the five-year goal Mr. Raines created. Employees and managers were enthusiastic about the ability to influence their salaries, but then human greed took over and things went horribly wrong for Fannie Mae. Jennings (2009b) writes that the government audited Mr. Raines and found that he was behind the altering company’s earnings to meet forecasted projections. After the government’s investigation into Fannie Mae it was determined that Raines created a culture of arrogance and unethical behavior. This paper examines five discussion topics, which Jennings (2009a) poses in a case study that links to the article “Fannie Mae: The Most Ethical Company in America”.

The first discussion topic posed was, “Consider the ethics recognition that Fannie Mae received and the reasons given for those awards. Then consider that Fannie Mae was rated by Standard & Poor’s on its corporate governance scoring system as being a 9, with “10” being the maximum CGS score. Fannie Mae received a 9.3 for its board structure and process. What issues do you see with regard to these outside evaluations of companies that relate to governance and ethics? Is there a difference between social responsibility and ethics? Is there a connection between good governance practices and ethics” (Jennings, 2009a, p. 275)? Evaluation businesses only audit companies for limited amounts of time. Most companies are conscious of when an evaluation will take place within their company. Thus, companies tend to scrub or tailor data so that it appears appealing to the evaluating organization. Fombrum (2007) says that often companies get rankings and ratings based on reputation or on the work force’s opinion of how good a company is. These rankings do not always take into account company size, financial data, company performance, layoff cycles, company bookings, and salaries. Furthermore, these rankings sometimes only list subjective information. Employees that are looking for an employer should thoroughly consider creating their own ranking list when searching for a company. For example, some companies spend significant amounts of money on social responsibility to maintain positive images with the public and the media (reputation building and preservation). Ethics and social responsibility differ in the fact that an agent (corporate executive) can abuse his power by using company resources to fulfill personal,...

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