Description
Have you witnessed unethical practices in the workplace? If so, please share your experience with the class and explain how this impacted your perception of the business. If not, please find a current example of unethical business practices, share the source, and explain how you would have handled this situation differently.
Cite the textbook to support your response.
In a separate paragraph be sure to respond to at least one of your classmates’ posts below:
Hello Professor and Classmates,
After reading about the Silicon Valley Bank scandal made me think about how many other banks have done this with no consequences. “In early 2023, a series of investigative reports uncovered a vast network of fraud, money laundering, and unethical business practices taking place within SVB. The scandal involved several high-ranking executives, who were found to have engaged in questionable transactions and facilitated illegal activities for the bank’s clients, many of whom were start-ups in the tech industry” (Mahi, 1). If I was in this situation I would have immediately let the authorities know and be transparent about the issue. If I was the owner of Silicon Valley Bank (SVB) I would have publicly addressed the situation, taking full responsibility, and outlining concrete steps to address the wrongdoing. Being able to hold accountable the high-ranking executives involved, including termination or legal actions, sends a message of zero tolerance for unethical behavior.
Resource:
1. Shane Mahi. 2023. Unmasking the 2023 Silicon Valley Bank Scandal: A Cautionary Tale for the Tech Industry. https://www.linkedin.com/pulse/unmasking-2023-silicon-valley-bank-scandal-cautionary-shane-p-mahi/
Links to an external site..
Thank you,
Mariajose Hatcher
