1. Identify the major stakeholders in this case.
The major stakeholders in this case are Michael Hancock, finance executive at XYZ Corporation; Michael’s daughter, Tiffany; Gary, Michael’s life-long friend and ABC, LLP audit partner; Gary’s daughter, Ashley; XYZ Corporation; ABC, LLP; the other candidates being considered for the Financial Management Program (FMP) internship at XYZ Corporation; and potential candidates for the internship at ABC, LLP.
2. Identify the ethical concerns in this case.
One ethical concern is that there may be a conflict of interest between Michael and Gary. If Michael hires Ashley for FMP internship, then he would be giving preference to her over other qualified candidates. Michael would be abusing his executive …show more content…
What are the pros and cons of accepting the offer?
Pros: If Michael accepts the offer of the internship swap, then his daughter, Tiffany, will have her dream internship of working for a Big Four accounting firm. Gary’s daughter, Ashley, will have an internship for the summer, and both of their daughters will gain internship experience that could lead to full-time offers upon graduation. In the long run, Michael will continue to have a thriving friendship with Gary through this difficult situation.
Cons: If someone at XYZ found out that Michael used his executive power to hire Ashley over other qualified candidates, his reputation at XYZ will be tainted. There could be potential lawsuits against XYZ and ABC due to executives showing favoritism to family friends over other candidates. Michael and Gary could possibly be demoted or terminated from their jobs, and Tiffany and Ashley might not be able to obtain other internships or jobs in the future because of their involvement in this situation. Potential candidates for the FMP internship would be replaced by Ashley, who is under-qualified for the position if Michael accepts the …show more content…
By accepting this offer, he would jeopardize his reputation at XYZ Corporation and the company could face potential lawsuits due to a poor hiring process. Although his daughter, Tiffany, would love to work for a Big Four firm like ABC, LLP, it would not be fair to her if she did not work for the opportunity on her own. Gary’s daughter, Ashley, wants to gain internship experience, but if Michael gives her the internship over other qualified individuals, he would probably regret the decision he made. Michael should deny the offer and save his career than to help his friend’s underqualified daughter get an internship that she is not ready for, and he would lose his job if someone found out the actions he took to hire
The major stakeholders in this case are Michael Hancock, finance executive at XYZ Corporation; Michael’s daughter, Tiffany; Gary, Michael’s life-long friend and ABC, LLP audit partner; Gary’s daughter, Ashley; XYZ Corporation; ABC, LLP; the other candidates being considered for the Financial Management Program (FMP) internship at XYZ Corporation; and potential candidates for the internship at ABC, LLP.
2. Identify the ethical concerns in this case.
One ethical concern is that there may be a conflict of interest between Michael and Gary. If Michael hires Ashley for FMP internship, then he would be giving preference to her over other qualified candidates. Michael would be abusing his executive …show more content…
What are the pros and cons of accepting the offer?
Pros: If Michael accepts the offer of the internship swap, then his daughter, Tiffany, will have her dream internship of working for a Big Four accounting firm. Gary’s daughter, Ashley, will have an internship for the summer, and both of their daughters will gain internship experience that could lead to full-time offers upon graduation. In the long run, Michael will continue to have a thriving friendship with Gary through this difficult situation.
Cons: If someone at XYZ found out that Michael used his executive power to hire Ashley over other qualified candidates, his reputation at XYZ will be tainted. There could be potential lawsuits against XYZ and ABC due to executives showing favoritism to family friends over other candidates. Michael and Gary could possibly be demoted or terminated from their jobs, and Tiffany and Ashley might not be able to obtain other internships or jobs in the future because of their involvement in this situation. Potential candidates for the FMP internship would be replaced by Ashley, who is under-qualified for the position if Michael accepts the …show more content…
By accepting this offer, he would jeopardize his reputation at XYZ Corporation and the company could face potential lawsuits due to a poor hiring process. Although his daughter, Tiffany, would love to work for a Big Four firm like ABC, LLP, it would not be fair to her if she did not work for the opportunity on her own. Gary’s daughter, Ashley, wants to gain internship experience, but if Michael gives her the internship over other qualified individuals, he would probably regret the decision he made. Michael should deny the offer and save his career than to help his friend’s underqualified daughter get an internship that she is not ready for, and he would lose his job if someone found out the actions he took to hire