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Briefly explain the implications of Enron and Worldcom accounting scandals. What should the business world learn...

Briefly explain the implications of Enron and Worldcom accounting scandals. What should the business world learn from these happenings?

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Every firm and its managers are expected to maximize investor returns while complying with regulatory standards.However,in practices, being ethically is not just about giving large sum of charity's money but recognizing and acting on potential ethical issues before they become legal problems are more important aspects to taking care of.These scandals demonstrates the need for a close look at the ethical quality of the culture of business. organization need to infuse ethics and integrity through out their corporate cultures as well as into their definition of success.

Lessons to be learned from the scandals are that absolute power corrupts absolutely but these scandals goes far beyond just the faults and flaws of a powerful corporation.

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