The most important asset you have is your reputation. Your ideas are important but if the market, your business partners, investors, vendors and employees can’t trust you, you will fail. Often when companies fail because of ethical scandals, a lot of innocent people lose money. Some lose their retirement savings, large charities lose millions of dollars that were supposed to help the disadvantaged. This assignment is about studying a corporate scandal. Unfortunately, there are a significant number of large corporate scandals, just over the last 10-20 years. For example, Theranos, Enron, Bernie Madoff and Wells Fargo are all stories of fairly recent corporate scandals that involved both ethical lapses and illegal behavior. Your first task is to choose a scandal and clear your choice with me. To find one, google it, talk to your parents or people around you. If you took my Entrepreneurial Mindset, you cannot choose Theranos. Choices are approved on a first come-first serve basis. So, the earlier you submit a request to me, the more likely it will be approved. Your report should include the following:Background on the company you chose.An explanation of the scandal.An explanation of the underlying illegal and/or unethical behavior involved. Why was it illegal and/or unethical?How was the scandal discovered?Who was hurt by the ethical/illegal behavior.What were the consequences of the scandal?Was a new law passed to prevent it from happening again? Were specific individuals fired or did they face criminal charges? Did the company shut down?What lessons can be learned from the scandal?What do you think could have prevented the illegal/unethical behavior from happening?I expect you to cite your sources and provide a Works Cited page. Your work product (excluding Works Cited page) should be at least 1,500 words.Rubric
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