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Wall Sheet In Crisis: The Lehman Brothers

1488 Words6 Pages

‘WALL STREET IN CRISIS’ HISTORY OF LEHMAN BROTHERS LEHMAN BROTHERS’ GLOBAL INCORPORATION provided global financial services and one the biggest organisation in the United States of America. It is an investment services industry which was established by Henry Lehman and Emanuel Lehman in 1850. It had its headquarters in New York City. It was the 4th largest listed investment bank in US before filing for its bankruptcy in 2008 that is when the company DE functioned. In the beginning of 1844 henry Lehman started a dry goods store, in 1847 his brother Emanuel Lehman joined him so the company’s name changed from H.Lehman to H.Lehman and bro. later in 1850 their youngest brother Mayer Lehman joined them in the business so the company’s name was …show more content…

Ethical issues should be seen in the organization and they must bring a change when they have discovered that it is not moving as per the rules of the ethical standards, so that the employees have a chance to present their views to solve the issue collectively with their own views and ideas. Independent social auditing which is conducted by an external party regularly or without prior announcement should have been a boon in the case of Lehman Brothers. The audit result which was taken by the external auditors must be exposed to the public square, for further scrutiny so that the public can come to know the performance of the whole organisation without any doubts. This would have showed the effort lessens the opportunity for retaliation from those being audited which was the company’s own board where they manipulated according to their own wants and desires which in the end resulted in the decline of the one of the top listed company in wall street ‘Lehman …show more content…

There shouldn’t be any unethical practices which bring down the reputation and the capability of the company. And the company shouldn’t fake any unrealistic position of the company as they have to keep up practising in showing the original worth of organisation, instead of showing wrong values. There has to be corporate responsibilities and must abide according to the rules and regulations of the company. TEAM NAME: LIVELY WALL

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