accounting

2 pages

1. Mahatma Gandhi is quoted as saying: “Capitalism as such is not evil; it is its wrong use that is evil.” What do you think Gandhi meant by this statement? Give an example of when capitalism may have fallen short of its goal to promote the interests of society.

2. To whom do managers owe their allegiance? Is it to the shareholders? To other stakeholders? Be sure to support your answer with ethical thought and examples in the text from discussions about corporate governance.

3. Marvin Bower, the former managing partner of McKinsey & Company, said: “There is no such thing as business ethics. There is only one kind—you have to adhere to the highest standards.” What does this statement mean to you?