Read Cases from the Real World: Competition and the Markers of Business Success, found in the following:
Byars, S., & Stanberry, K. (2018). Why ethics matter, chapter 1. Business Ethics. Rice University, OpenStax. Retrieved from http://cnx.org/content/col25722/1.3 pg. 15. CC BY 4.0 license.
Crippen, A. (2008). Warren Buffett: People thought “I was doing some sort of Ponzi scheme.” Retrieved from https://www.cnbc.com/2008/12/16/warren-buffett-people-thought-i-was-doing-some-sort-of-ponzi-scheme.html
What is an ethical leader? They lead by example and exemplify ethical decision making and conduct focused on a common good. They are known to act with integrity and inspire respect among peers, constituents, and subordinates. Successful ethical leaders are champions of their beliefs and communicate them throughout an organization to develop a supportive culture.
Keep in mind that all people possess virtues and vices, and while they may strive to support ethical tenets, they may fail at times.
Address the following in a 4-page essay, demonstrating your critical-thinking skills:
- Discuss Warren Buffett’s approach to business dealings, especially as they relate to business ethics.
- Compare that approach to Bernie Madoff’s.
- Apply ethical philosophies that you have learned about in this Module and state which you think apply to Mr. Buffett.
- Which ethical philosophies apply to Mr. Madoff? Why?
Create a table where you compare and contrast these two investors from an ethical standpoint. Be sure to discuss your table in your paper.
Write a well-integrated paper with a strong introduction and conclusion, and use a few section headings (i.e., do not simply follow a Q & A format).