Idea #085
Corporate Scandals: Causes and Cures
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Corporate Scandals: Causes and Cures
KEY CONCEPT
US corporate scandals plagued the early 2000s, with Enron, Tyco, and WorldCom becoming notorious. The 2008 financial crisis bred Libor rate-fixing and other cases of serious misconduct. Loss-hiding at Japan’s Olympus Corporation was exposed in 2011. In 2013 Shell, BP, Statoil and others came under investigation by the EU Commission for supposed oil price rigging. Fined, sued, disgraced and sometimes collapsed the consequences for organizations can be dire. What preventive measures should be put in place to ensure organizations do not fall prey to such outcomes?
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Institutions
Idea conceived
April 1, 2010Idea posted
Jun 2013
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