The Questionable Culture of Lehman Brothers
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The Questionable Culture of Lehman Brothers
MGT/521
September 19, 2014
Introduction
In this week's team assignment, we are tasked with understanding, discussing, and describing "will we ever learn," case review on Lehman’s Brothers.
Lehman Brother’s culture and downfall
According to University of Phoenix case review, there were excessive risks taken by the Lehman Brother's employees, which were highly encouraged by Lehman's management. For this high-risk environment or attitude the employees at Lehman Brothers were handsomely rewarded. Also, seemingly unethical deals were treated as “conquering heroes” and ethical deals were overlooked or degraded. Therefore, a person with integrity were made outcast. While discussing this with my team, we unanimously decided this way of doing things was like the human body. If not properly taken care of by providing the body with proper diet and exercise, it will eventually start to fail. Ultimately, a business or company that does apply appropriate ethical rules and procedures of integrity will fail.
Lehman Brother’s Executives role
The roles and responsibilities of the Lehman Brother’s executive were deemed unethical. According to the report, manipulation of balance sheets called Repo 105. This falsified report procured over 50 billion of assets off the balance for the first and second quarters of 2008.
Our team thought that the following quote by Gordon Gekko, Wall Street the movie, summoned it best.
“Greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms: greed for life, for money, for love, knowledge, has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much.”
Cultural Overview
Our team has come to the conclusion that...
MGT/521
September 19, 2014
Introduction
In this week's team assignment, we are tasked with understanding, discussing, and describing "will we ever learn," case review on Lehman’s Brothers.
Lehman Brother’s culture and downfall
According to University of Phoenix case review, there were excessive risks taken by the Lehman Brother's employees, which were highly encouraged by Lehman's management. For this high-risk environment or attitude the employees at Lehman Brothers were handsomely rewarded. Also, seemingly unethical deals were treated as “conquering heroes” and ethical deals were overlooked or degraded. Therefore, a person with integrity were made outcast. While discussing this with my team, we unanimously decided this way of doing things was like the human body. If not properly taken care of by providing the body with proper diet and exercise, it will eventually start to fail. Ultimately, a business or company that does apply appropriate ethical rules and procedures of integrity will fail.
Lehman Brother’s Executives role
The roles and responsibilities of the Lehman Brother’s executive were deemed unethical. According to the report, manipulation of balance sheets called Repo 105. This falsified report procured over 50 billion of assets off the balance for the first and second quarters of 2008.
Our team thought that the following quote by Gordon Gekko, Wall Street the movie, summoned it best.
“Greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms: greed for life, for money, for love, knowledge, has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much.”
Cultural Overview
Our team has come to the conclusion that...