Report on Ethical Conduct, MIS Development and Acquisition Strategies

This report delves into the crucial aspects of ethical conduct, Management Information System (MIS) development, and acquisition strategies within organizations. It begins by exploring ethical conflicts, using the Enron case study to illustrate the consequences of unethical practices and the importance of corporate governance. The report then discusses philosophical theories such as Solipsism, Idealism, and Presentism, providing context to ethical decision-making. Furthermore, it examines professional ethical guidance and the role of the Sarbanes-Oxley Act in preventing fraud. The main body of the report focuses on MIS development, explaining the necessity of such systems for effective data management and decision-making, and proposes both centralized MIS and various acquisition approaches, including external sources and internal development. Finally, the report concludes by emphasizing the significance of ethical practices and principles in fostering a responsible and successful business environment.

Individual report
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Lo 3 Respond in reflective way to ethical conduct and turbulence in professional career and
workplace.....................................................................................................................................3
Lo 4 Philosophical theories and professional body ethical guidance and advice........................4
Lo 5 MIS development and acquisition approach system for organisation.................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8
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INTRODUCTION
For an organisation it is necessary to follow certain ethical principles and practices. This
enable them to act in ethical way. In addition, corporate governance is a set of system by which
companies are directed and controlled. The stakeholder select BOD who are assigned
responsibility to ensure that all system and structure is in place and are being properly followed.
It enables company to work in ethical way and achieving goals effectively.
The report will describe about reflective manner to ethical conflict of enron corporation. Also, it
will be explained about philosophical theories and professional ethical guidance. Moreover, the
MIS development and acquisition approach for acquiring system will be discussed (Condon,
2018).
MAIN BODY
Lo 3 Respond in reflective way to ethical conduct and turbulence in professional career and
workplace
It is important for company to follow certain ethical practices and principles. Here,
corporate governance needs to be applied in which directors are responsible for controlling and
monitoring of system that is incorporated into organization. In this shareholder play significant
role as they appoint director and auditors. Besides they ensure that all systems are in place
within workplace. With corporate governance there comes ethics as well. they both are
interrelated to each other.
From case study it is analysed that enron reported its financial condition was sustained by an
accounting fraud which was highly planned. So, this created a negative impact on their brand
image and it showed that no ethical practices was followed in it. furthermore, this also created a
negative image in minds of employees as well as people. So, it is evaluated that in maintaining of
accounting practices no ethics was followed. so, it lead to create ethical conflict in enron
corporation. This was related to that why practices were not followed in it and who was
responsible for this fraud (Condon, 2018).
So, due to it there occurred turbulence in professional career of accountants who were
involved in fraud. Also, it interrupt career of those who are not involved in it as well. in
professional career there has to be follow of ethics. They ethics reflects that whether employee
in working in professional way or not. Besides that at workplace as well there are several ethics
that is adhered. So, there arise conflict that why fraud occurred in enron corporation. It means
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whether employees planned it or due to lack of corporate governance at workplace it happened.
In this auditor can also be in fault as they are also involved in fraud.
Now, as the act of Sarbanes oxley 2002 is law which protect investor from fraud done
by companies. Here, strict penalties are imposed on them if they break the law. In act there are
some rules set for accountants, auditors and officers for keeping of records and maintaining it.
here, crime penalties are also imposed in it. there are 4 principles on which the act focuses that
are corporate responsibility, accounting regulation, criminal punishment and new protections.
Moreover, there are 3 sections in it
Section 302- it make it compulsory for officers to ensure in writing that company financial
statement comply with SEC standards. Their sign on it and if statement is inaccurate then it can
lead to criminal penalty.
Section 404- the management and auditor needs to develop internal reporting method to ensure
adequacy of it. but for public company it may be costly process to do so.
Section 802- there are 3 rules in it first is destruction of records, second is retention period for
storing of record and last is record which company need to store in electronic way (Bahr. and
Yarlagadda, 2019).
Lo 4 Philosophical theories and professional body ethical guidance and advice
It has been found that there are certain philosophical theories which are available in it.
They are defined below
Solipsism – the theory state that exist but our own consciousness. It means that when your mind
realise existence of something than it is difficult to verify any other thing rather than our own
consciousness.
Idealism – it states that everything exist as idea in other people mind. If we do something then it
is already in mind of some other person. There are many ways in it as well.
Plato’s cave – he argued that beyond our thoughts there exist a world in which everything is
perfect. Thus, reality is just a reflection of norms. So when norms are studied then it becomes
easy to discover what actually things are
Presentism- this theory is based on time in which it state that there are two time which is
present, past and future. So, here present is real whereas future and past are imaginations.
By analyzing the case study it is fond that accounting fraud was occurred. So, there are
certain ethics which needs to be followed by accountant in it. they are specified as
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Contribute to society - this ethics state that accountant must contribute to society. They need to
work in ethical way for benefit of society. Here, obligation contain promoting human right and
protecting as well. also, they need to consider whether outcomes of their action will benefit
society or not.
Avoid harm- here individual have to ensure that they do not harm others or there is no such
consequences which is unjust. the action and duties can cause harm thus it needs to be avoided.
Besides that, harm must is intentional then this means it is integral part of system. Thus,
professional needs to work in ethical way.
Honest and trust- accountant must be honest and trustworthy so that all work done is in ethical
way. It means that if there is unethical practice followed then it must be reported. Alongside,
honesty is must professional ethics in it.
Lo 5 MIS development and acquisition approach system for organisation
It is necessary for organisation to store and manage their data and info this is because
there are different types of info which is processed in it. Thus, it becomes difficult to manage
that info. However, manager take decision on basis of that data after processing it. Thus, if
proper and relevant data is not available then effective decisions are not taken. This interrupts
entire operations and goals are not attained as well. Also, info must be shared and communicated
in proper way between department.
So, it is necessary to develop a MIS through which all decision are taken in effective way.
Besides that, data is visualized and analysed properly. Therefore, for that MIS is used. It is a
system that store and process large data set to take relevant decisions. The system also helps in
controlling, analysis of data in organisation (Malesza. and Ostaszewsk, 2016). The MIS can be
developed as centralised based system that store and coordinate data and information. Here, all
departments of organisation are interlinked to each other. They are sales, marketing, finance,
HR, etc. now, a proper network needs to be established between them so that information is
shared easily. This will enable all unit to upload data on MIS and in this way they can easily
share it. Hence, any update in info can be share instantly on MIS server. It will automatically
be shared with all department. Thus, in this decisions will be taken effectively.
Therefore, there has to be a relevant approach that needs to be followed in acquiring of
various system. Here, systems such as DSS, ESS, etc can be developed and installed within
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organisation. They all are related to analysing of data and information. Along with it, the
system are integrated with one another. So, here approach which can be followed in it
External sources – it is an approach in which system can be acquired from sources such as third
party vendors, cloud computing, etc. the use of third party vendors who are specialised in
developing and installing of MIS. They are vendors who provide all types of services related to
it. Besides these needs to be trusted and reliable third party suppliers. Furthermore, another is
cloud based MIS system that is offered by companies like Microsoft, amazaon, and others. The
services can be accessed for particular time period as they are offered by trusted organisation.
Internal development- here, entire system can be developed within organisation. In that large
organisation, vendors can be contacted and then system is developed. The organisation has to
manage and maintain entire information system (Kanyarusoke, 2017).
CONCLUSION
Hereby, it is concluded that ethical practices and principles play significant role as
it is evaluated that in maintaining of accounting practices no ethics was followed within case
study. These ethics reflects that whether employee in working in professional way or not
, strict penalties are imposed on them if they break the law as there Section 302,Section 404 and
Section 802 are applied. In addition to this , there are certain philosophical theories such
Solipsism state that exist but our own consciousness and Idealism states that everything exist as
idea in other people mind and Presentism theory state that there are two time which is present,
past and future.
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REFERENCES
Books and journals
Bahr, N.C. and Yarlagadda, S.G., 2019. Fanconi syndrome and tenofovir alafenamide: a
case report. Annals of Internal Medicine, 170(11), pp.814-815.
Condon, D.M., 2018. The SAPA Personality Inventory: An empirically-derived,
hierarchically-organized self-report personality assessment model.
Kanyarusoke, K.E., 2017. Nurturing competitive teamwork with individual excellence in
an engineering classroom. Innovations in Education and Teaching International, 54(5), pp.438-
447.
Malesza, M. and Ostaszewski, P., 2016. Dark side of impulsivity—Associations between
the Dark Triad, self-report and behavioral measures of impulsivity. Personality and Individual
Differences, 88, pp.197-201.
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