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National Collegiate Athletic Association Ethics and Compliance Program

College football is not only a sport but also possess the potential of bringing a lot of money. In this regard, the interests of the most vulnerable stakeholder are needed to be safeguarded which are student-athletes. NCAA has made principles of institutional control and responsibility, the principal of athlete-student wellbeing and the principle of standards of sound academic to develop a culture of compliance and ethics.

It is a valid criticism because many stakeholders feels that the penalty in case of non-compliance is far more severe than for breaking the rules of ethics. The reason maybe is the amount of money associated with the athlete’s compliance so they are a little more concerned about maintaining compliance than ethics.

University administration must make sure to implement the standard principles of compliance and ethics. Coaches can transfer many personality traits and characteristics by moving the athletes to imitate them. This is possible when coaches pay attention and take care of their behaviour in the presence of athletes. It is the responsibility of every athlete to follow the coaches and abide by the laws and principles set up by the administration.

Frauds of the Century

Ponzi and Pyramids schemes are security frauds that are similar in a way that both the schemes compensate the existing investors by the new investor’s contribution. The difference lies in the fact, that participants in the Ponzi scheme believe that they earn returns from their own investment while participants of Pyramid schemes think that they are earning by recruiting new customers/participants.

The schemes launched by such white-collar criminals such as Modaff are successful because of the general perception and mentality of the masses. As said by Minkow, a former scam artist of Ponzi scheme that people will trust the credibility from reputation, glamour, prominence and word of mouth. Madoff had enough credibility to influence as he had been the chairman of NASDAQ ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"6FjrM8yU","properties":{"formattedCitation":"(News)","plainCitation":"(News)","noteIndex":0},"citationItems":[{"id":234,"uris":["http://zotero.org/users/local/5OlhLovK/items/XP2PWNTD"],"uri":["http://zotero.org/users/local/5OlhLovK/items/XP2PWNTD"],"itemData":{"id":234,"type":"webpage","title":"Money Sick? What Drives High-Risk Fraud?","container-title":"ABC News","abstract":"With allegations that Wall Street tycoon Bernard Madoff pulled off $50 billion in fraud, former con artists and money psychologists say the path into elaborate Ponzi schemes has less to do with money than you think.","URL":"https://abcnews.go.com/Health/MindMoodNews/story?id=6452520&page=1","title-short":"Money Sick?","language":"en","author":[{"family":"News","given":"A. B. C."}],"accessed":{"date-parts":[["2019",11,20]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (News).

One can save himself from getting trapped into such schemes by becoming skeptical related to such matters. One must become suspicious of unexpected offers to an investment seminar and must check out the actual seller. Get help from the regulatory authority and verify the license and reputation of the seller and always ensure that the investment is registered.

Whole Foods strive to Be an Ethical Corporation

Whole foods Market has increased the focus on natural and organic foods and fulfiling the corporate responsibilities in environmental, social and governance point of view. They are working in making and promoting sustainable products and are involved in many philanthropic activities. The governance advocates a new type of capitalism which possesses the potential for improving corporate performance while maintaining the quality of the products.

Whole Foods Market many corporate social responsibility programs are present to make sure that the interests of the stakeholders are accounted for. Stakeholder groups of the business are Investors, Employees, suppliers, customers and communities. Whole Foods Market continue to improve its CSR by implementing new rules and policies to address the interests of the stakeholders.

Whole Foods Markets refused some of its stakeholders in the past because of certain ethical issues. The example is the acquisition with the Wild Oats when accused of creating junk and unhealthy products, The Whole Foods had to deny the stakeholder and then took many steps to ensure the manufacturing of healthy products ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"2FYcibbk","properties":{"formattedCitation":"(LaurD)","plainCitation":"(LaurD)","noteIndex":0},"citationItems":[{"id":236,"uris":["http://zotero.org/users/local/5OlhLovK/items/XNEWDXYH"],"uri":["http://zotero.org/users/local/5OlhLovK/items/XNEWDXYH"],"itemData":{"id":236,"type":"post-weblog","title":"Whole Foods: A Business Built on Conscious Capitalism","container-title":"Business, Government and Society fiVe","abstract":"Whole Foods sees itself as much more than a retail grocery store and seeks to have positive relationships with all parties involved in its business. The motto of Whole Foods- “Whole Foods, Whole Pe…","URL":"https://bizgovsocfive.wordpress.com/2012/11/23/whole-foods-a-business-built-on-conscious-capitalism/","title-short":"Whole Foods","language":"en","author":[{"literal":"LaurD"}],"issued":{"date-parts":[["2012",11,23]]},"accessed":{"date-parts":[["2019",11,20]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (LaurD).

Managing the risk of Global Bribery in Business

We take the example of two provisions who is being bribed and the nature of advantage obtained. In the first provision, according to FCPA considers only those bribes prohibited which are offered to the foreign officials while according to the Bribery Act, bribe offered to anyone is considered prohibited. In the second provision, payment should be to retain business in FCPA case while the Bribery Act is focused on improper actions.

Despite the fact, that bribery is considered illegal in the United States and several laws are implemented by FCPA but still, the bribery and corruption are increasing every year at a rapid pace. The reason for this increase in the bribery is globalization as the companies and businesses find their way outside the national legal and ethical boundaries ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"5Pm8U2ex","properties":{"formattedCitation":"({\\i{}Ethical Challenges and Standards | Introduction to Business [Deprecated]})","plainCitation":"(Ethical Challenges and Standards | Introduction to Business [Deprecated])","noteIndex":0},"citationItems":[{"id":239,"uris":["http://zotero.org/users/local/5OlhLovK/items/7JAFMWA2"],"uri":["http://zotero.org/users/local/5OlhLovK/items/7JAFMWA2"],"itemData":{"id":239,"type":"webpage","title":"Ethical Challenges and Standards | Introduction to Business [Deprecated]","URL":"https://courses.lumenlearning.com/wmopen-introbusiness/chapter/reading-corruption/","accessed":{"date-parts":[["2019",11,20]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Ethical Challenges and Standards | Introduction to Business [Deprecated]).

It is not easy to determine entertainment, incentive or a minor gift as a bribe because FCP acknowledges that these small expenditures as facilitation, small payment or gift may be necessary to eliminate irritants in getting government approvals and permits. These payments are also considered as ‘speed money”.

The Mission of CVS: Corporate Social Responsibility and Pharmacy Innovation

CVS has done tremendous work in handling the challenges by repositioning itself as a responsible social organization that provides more priority to health. CVS’s anti-tobacco projects are in progress by making affiliations with many regional hospitals. The company introduced several programs to help the tobacco addicts and announced that their customers will make co-payments for the prescription at pharmacies that still deal with tobacco products.

CVS became the first American pharmaceutical company that abandoned tobacco products which impacted the sales of the company. The annual sales of CVS are 139 billion dollars and the hit due to this move was around 2 billion dollars which is not much compared to the effects of the positive incentive.

The decision of abandoning the sales of tobacco-caused decrease in sales but it has a lot of positive outcomes in term of health care and the overall reputation of the company. The CEO of the company, Larry Merlo said in one of his interviews that we can make a huge difference in the health of our people by eliminating the tobacco products and sales of cigarettes in our stores ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"dST5Zzvk","properties":{"formattedCitation":"(Egan)","plainCitation":"(Egan)","noteIndex":0},"citationItems":[{"id":241,"uris":["http://zotero.org/users/local/5OlhLovK/items/PNNQRN7Y"],"uri":["http://zotero.org/users/local/5OlhLovK/items/PNNQRN7Y"],"itemData":{"id":241,"type":"webpage","title":"CVS banned tobacco. Now its sales are hurting","container-title":"CNNMoney","abstract":"Sales at CVS took a tumble last quarter after the company stopped offering cigarettes and tobacco products at its stores.","URL":"https://money.cnn.com/2015/08/04/investing/cvs-earnings-cigarettes/index.html","author":[{"family":"Egan","given":"Matt"}],"issued":{"date-parts":[["2015",8,4]]},"accessed":{"date-parts":[["2019",11,20]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Egan).

Works Cited:

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Egan, Matt. “CVS Banned Tobacco. Now Its Sales Are Hurting.” CNNMoney, 4 Aug. 2015, https://money.cnn.com/2015/08/04/investing/cvs-earnings-cigarettes/index.html.

Ethical Challenges and Standards | Introduction to Business [Deprecated]. https://courses.lumenlearning.com/wmopen-introbusiness/chapter/reading-corruption/. Accessed 20 Nov. 2019.

LaurD. “Whole Foods: A Business Built on Conscious Capitalism.” Business, Government and Society FiVe, 23 Nov. 2012, https://bizgovsocfive.wordpress.com/2012/11/23/whole-foods-a-business-built-on-conscious-capitalism/.

News, A. B. C. “Money Sick? What Drives High-Risk Fraud?” ABC News, https://abcnews.go.com/Health/MindMoodNews/story?id=6452520&page=1. Accessed 20 Nov. 2019.