Running head: GREED

Greed Wyatt Decker, Dan Feula, Adam Groff, Pamela Mix Pennsylvania College of Technology

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Table of Contents Executive Summary ........................................................................................................................ 2 Introduction ..................................................................................................................................... 4 Background ..................................................................................................................................... 5 Ethical Issues .................................................................................................................................. 6 Stakeholders .................................................................................................................................... 8 Types of Stakeholders ................................................................................................................. 8 Pros of Greed ................................................................................................................................ 11 Cons of Greed ............................................................................................................................... 13 Summary ....................................................................................................................................... 16 Alternatives ................................................................................................................................... 17 Group Consensus .......................................................................................................................... 18 References ..................................................................................................................................... 20

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Executive Summary Greed is a concept that has been around since the very beginning of time. Greed is essentially an intense desire to obtain something that is lacked. In most cases, this is money but really it can involve anything at all from possessions to emotions. In the past, before the modern age, the focus of greed was more so about power than money, which is what todays world is all about. So the question to be answered is: is greed good or bad? The ethical issues, the stakeholders, as well as the pros and cons of greed need to be examined in order to find the answer. There are so many ethical issues that can manifest as a result of greed but really, greed is itself, an ethical issue. Greed is what causes just about every white-collar crime out there from the many types of fraud to environmental pollution. The corporate world, and really the entire nation, is all about the need for money and power. Environmental pollution and the lack of safety for employees are examples of externalities resulting from cutting costs due to greed. Stakeholders are parties that are affected by the actions of another party. In this case, it would be the actions resulting from greed. If you think of a company being greedy, there are many different stakeholders involved including; employees, shareholders, communities, investors and even the government; the list goes on. When it comes to greed, just about any stakeholder imaginable can be affected by anybody doing anything in literally any setting. The pros of greed are very apparent. Greed can result in someone gaining something that they have a great desire for. Basically, this means that greed is a great form of motivation. It motivates people to become educated, earn money and become contributing members of society. The cons of greed are also very apparent and in some cases can be the same as the pros. Greed motivates people to make more money but they become selfish in doing so which causes

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them to make bad or unethical decisions along the way. Greed is good to a point; being overly greedy is where one crosses the line. Greed can also be contagious in that it can spread throughout an entire company and make the total machine greedy, which is what happened with Enron. Greed is an ends to a means, whether youre after money, power, material things, or the love of another. Greed is about egoism and doing what is in our best self-interest. Greed has the ability to demolish equality and deny utilitarianism because its all about the greatest good for the fewest number of people (Edney, 2005).

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Introduction What is Greed? Is it a positive or negative action? The official definition for greed is excessive or rapacious desire, especially for wealth or possessions (Greed, 2011). Dont let the definition fool you though. Just because someone is wealthy doesnt mean that person is greedy. Bill Gates is one of the wealthiest people in the world but no one would consider him greedy because Bill earned his money honestly and donates huge amounts of money to many different charities annually. The point is, ladies and gentleman, that 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 [this company] but that other malfunctioning corporation called the USA (Pressman, 1987). This is an extremely popular quote from the movie, Wall Street, which tries to identify greed as a good and right way of looking at things. Is this really so? Greed has the potential to push people into making unethical decisions. Greed is a universal human trait. [] All individuals make decisions in their best self-interest, even if it is doing something for someone else from their heart (Blitz, 2007). This quote is noting the selfishness aspect of greed, which is considered a con of greed. The question that should be answered is, whether or not greed is good or bad. The following pages will examine greed to its core by looking at its history, the issues that arise from greed, the stakeholders it can affect, and its pros and cons.

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Background Greed has been around as long as there have been people in this world. In every era, there have been people whove had an excessive desire to accumulate money, power, and prestige according to Ryan K. Balot an associate professor of political science at the University of Toronto (Economy, n.d.). In the earlier eras, greed may have focused more on power than wealth, and acquisitions were carried out on battlefields instead of boardrooms. Yet greed had the same desires for excess, this is not much different in the current society we live in today from the first eras of the human race. It is not very hard to find famous historic examples of greed in our human races existence from past kings, criminals, religious pretenders, all the way up to todays Wall Street. Yet to be really greedy a person has to not just want and acquire a lot of material wealth, he or she needs to come by it less than honestly. Also, they enjoy stacking it up in the face of the far less fortunate. They have to put their own desires above the needs and legitimate concerns of those around them. When you apply this to the business world you are often talking of fraud or cheating to make gains for yourself. During the beginning stages of civilization power and acquisitions were carried out during war, not in courts. Alexander the Great was brought down by greed in 323 BC. His troops neared mutiny because Alexander always wanted to conquer some new nation. Pope Sixtus IV made vast amounts of money by imposing taxes on brothels and claiming that the souls in purgatory could only go to Heaven if their families paid enough money to buy their passage. In 1994, Sholam Weiss was convicted of stealing $450 million from National Heritage Life Insurance earning him 845 years in prison and $330 million in fines and restitution. Sholam was

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found guilty on 78 counts of wire fraud, money laundering, and racketeering. These are just a few examples of greed showing up throughout history. The list goes on and on. Ethical Issues The ethical issues of greed show themselves in three basic categories: the need for materialistic things, the lust for power, and self-centeredness. When someone is self-centered, they put themselves above almost everyone else; they feel they are somehow privileged in some way and that their needs and wants are a priority above all else. Self-centered people will not usually deal with people they feel are unworthy of their time and energy. It is this kind of person that is greed incarnate. These people are often the people seeking the other two categories of greed: materialistic things and power; of which there are many avenues to follow. Competition, free enterprise, capitalism; these are not just words from the dictionary, they are political symbols. We are a culture obsessed with money. The problem with capitalism is that it can quickly get out of control (Roosevelt, 2011). Since capitalism and greed go handin-hand, there are many ethical issues that arise due to greed within the capitalistic society. Greed, in and of itself, can be viewed as an ethical issue. After all, greed, or avarice, is one of the seven deadly sins. The majority of offenses that relate to greed revolve around white-collar crime and money and power. Bribery, forgery, insider trading, embezzlement, tax violation, and corporate corruption are all about the money and power; the need to control; to have it all. There is also computer fraud, fake charities, fraudulent land sales, identity theft, telemarketing scams, multilevel marketing schemes, card counting, bankruptcy fraud, and insurance fraud. Unethical behavior related to greed can manifest itself in other ways also. Environmental pollution is an externality that many manufacturers face. In the making of certain products there

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can be waste or residue left over that requires disposal. Correct disposal of these caustic materials can cost companies millions of dollars annually. To keep money in the company and the CEOs pockets, some unethical companies dump their toxic waste into rivers and other water sources or bury it in the ground. The waste then harms plants, animals, and humans in a variety of ways. Another unethical issue some might not relate to greed is safety standards. By cutting costs in the area of safety, a company can save millions of dollars. Safety cuts can come in the form of inadequate or no training, improper or nonexistent ventilation systems, improper or nonexistent uniforms (gloves, masks, goggles, etc.), improper handling of hazardous waste and other chemicals, working too many hours, lack of safety showers and eye wash stations, and proper first aid amenities just to name a few. Few people understand that the consequences of some white-collar crime are serious injury and possibly death. Each year thousands of people die from the long-term effects of illegal toxic waste dumping. It is estimated that one-hundred thousand deaths occur each year as a result of deliberate industrial or job-related safety violations. Emphysema and lung cancer deaths also occur each year because of the long term effects of industrial and automobile pollution (Lewis, 2002). It all comes down to focus on the bottom line. Companies are more worried about making money than saving the environment, safety of their employees, how their action will affect their stakeholders. Corporations are in business to make money; that is their number one priority. So, can you say that a corporation is greedy if it is doing what it was built to do?

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Stakeholders A Stakeholder is a party that can affect or be affected by the actions of the business as a whole. The entire stakeholder concept was first created in 1963 and used at the Stanford Research Institute. Edward R. Freeman then later cultivated the theory. Some primary organizational stakeholders could fall into the following categories: Employees Creditors Customers Economy Competitors Analysts and Media Types of Stakeholders Stakeholders are people who will be affected by an endeavor and can influence it but who are not directly involved with doing the work (Hummel, n.d.). In the private sector, people who are (or might be) affected by any action taken by an organization or group are considered stakeholders; examples include parents, children, customers, owners, employees, associates, partners, contractors, and suppliers, people that are related or located nearby. A stakeholder is any group or individual who can affect or who is affected by achievement of a group's objectives. A stakeholder can also be an individual or group with an interest in a group's or an organization's success in delivering intended results and in maintaining the viability of the group or the organization's product and/or service. Stakeholders influence programs, products, and services. Communities Investors Suppliers Misc. Associations Ex-employees Owners Shareholders Government Labor Unions Prospective Employees Prospective Customers Future Generations

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A stakeholder is any organization, governmental entity, or individual that has a stake in or may be impacted by a given approach to environmental regulation, pollution prevention, energy conservation, etc. School board members, environmental organizations, elected officials, chamber of commerce representatives, neighborhood advisory council members, and religious leaders are all examples of local stakeholders (Hummel, n.d.). Market (or Primary) Stakeholders, usually internal stakeholders, are those that engage in economic transactions with the business. (For example stockholders, customers, suppliers, creditors, and employees), Key stakeholders are the ones that have significant influence upon or importance within an organization, Secondary Stakeholders are people or groups not legally affiliated with a corporation but that affects or is affected by a corporations actions. (For example the general public, communities, activist groups, business support groups and the media). Secondary stakeholders develop strategies when approaching corporations. They target firms that they feel they either have the best chance of impacting or stand the most to gain from interacting with. Corporations also developed strategies for dealing with stakeholders, largely through dedicated corporate responsibility programs where employees try to curb damage done by other departments or enforce conditions or codes. Secondary stakeholders usually only deal with are advocacy groups and other non-profits (Lacoma, n.d.). Stakeholder Analysis is the process of identifying the individuals or groups that are likely to affect or be affected by a proposed action, and sorting them according to their impact on the action and the impact the action will have on them (Lacoma, n.d.). Stakeholder analysis is a term that refers to the action of analyzing the attitudes of stakeholders towards something (most frequently a project). It is frequently used during the preparation phase of a project to assess the attitudes of the stakeholders regarding the potential

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changes. Stakeholder analysis can be done once or on a regular basis to track changes in stakeholder attitudes over time. In Sweden, there is information collected about stakeholders as maps, tabular, graphical or pictorial data which has been gathered by researchers and consultants from the earliest studies. The key element of an effective mapping process is as far as possible to replace subjectivity with objective measures and to make the assessment process transparent. This transparency will allow the basis of any assessment to be clearly understood by others and will facilitate review and updating as appropriate (Hummel, n.d.). The approach with the highest profile in general business is the customer relationship management or CRM approach. This approach requires substantial data sets to be gathered about a key segment of the business stakeholder community (typically customers) followed by the use of data mining techniques allow trends and opportunities to be identified, graphed and communicated (Stakeholder Definition, n.d.). These reports inform management decision making and help the business prosper. CRM works effectively in situations where the business is relatively stable and there is a large class of stakeholders interacting with the business in a reasonably common way. A second approach that cannot be ignored is the extensive body of work focusing on influence networks (Thompson, n.d.). These theories emphasize the critical importance of the relationships between different stakeholders both within and around the project team. The strength and effectiveness of the internal relationships enable the project team to function effectively and allows the team (or the project) to interact and influence its surrounding stakeholder community. The difficulty in using these strands of research lies in building the influence/relationship maps; the work is difficult, time consuming and invasive requiring

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extensive interviews with the stakeholders. Consequently while an appreciation of these ideas is critical for effective stakeholder management, the opportunities to undertake a detailed analysis of a particular stakeholder community are very limited and typically only occur as part of an academic research assignment (Lacoma, n.d.). The need for a practical, usable approach to visualizing many different stakeholder communities has led to the development of a range of listing and mapping techniques by academics, consultants and businesses over the years. These approaches trade the richness of data available under the CRM approach for a holistic view of the whole stakeholder community and largely ignore the complex network of relationships considered in CRPR and the other network theories outlined above for a simpler consideration of importance in some form. Obviously the importance of a stakeholder is directly associated with his or her ability to influence the project through their network of relationships; the difference in the analysis is in the way this is assessed. All of the mapping techniques discussed above use a qualitative perception of a stakeholders importance rather than a quantitative analysis of the influence networks and relationships surrounding the stakeholder to determine an absolute value for that persons importance (Hummel, n.d.). Pros of Greed Corporate Greed has been part of organizations for decades. There are a lot of corporations in our business world today that have been successful due to the amount of greed in which they possess in their organization. We, as human beings, are driven primarily by motivation and we are motivated by self-interest. People in our society today like to put Capitalism and greed in relative positions. Eric Fleischauer (2011) stated in the article from The Decatur Daily that: Capitalism is unique among economic systems in that it recognizes the

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inevitability of greed. With sad realism, capitalist economies choose to go with the flow of human greed rather than fight it. One of the main benefits of corporate greed is that it can be a huge moneymaker. Greed for money and power push people to work harder and find new ways to profit; it keeps you on top by motivating you to strive to be the best. There are many CEOs who have become multimillionaires due to the fact that they use greed as a factor of running the corporation. Businesses that use greed as a dynamic part of their corporate structure could easily climb the ladder until they are superior to the competition. Along the lines of moneymaking, greed can be used as a tool of respect and raise the employees drive to perform their duties more efficiently. An employee in a corporation is driven by that tool to perform tasks so that their superiors will notice their extra effort and efficiency. This could help certain individuals to get promotions and climb up the organizational chart. Another benefit of greed is that if you are greedy you have or will become potentially famous. Enron is an example of an organization that was extremely greedy. When you look at Enron in the mid 1990s all their top line managers were looked at as kings because the amount of success that company had at that time. The public didnt know about the things in which they were involved, but their corporation was run on the sole power of greed. Greed is used as a motivator to get the things you want. Our human race uses greed everyday and the people who are greedy are the people who get the things they strive for. Material acquisition is a benefit of greed. Greed has the potential to cause a chain reaction within an organization. Top line managers will make decisions based on self-interest. Once this decision benefits them in some

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way, others in the organization will also make decisions based on themselves; eventually the entire organization can become one greedy machine. Businesses that use greed are very productive because it motivates employees to work harder and more efficient. Greed in essence increases workers output. As said by an article in Phil for Humanity (n.d.): Greed is good, because it is the most important incentive for people to work hard, get a good education, start a business, or invest in a company. This makes people productive and contributing members of society. And in return, people are paid a salary, become more educated, and (hopefully) build wealth so that they can in return live a prosperous, more comfortable, and full life. Adam Smith played an important role in the history of capitalism and greed. Smith believed that human emotions such as greed or envy could be channeled constructively to create economic competition. Within this environment, sellers would compete with each other for the customer's dollar. In order to survive and be profitable, sellers would do anything necessary to keep the customer and offer quality merchandise at a good price. Cons of Greed The previous section talked about how greed can be positive. Can greed really be a positive thing, or is it just a matter of how greedy a particular person is? It seems as though greed is only positive in moderation and even then, depending upon the person or the situation, it can still end up being bad. It is when one becomes overly greedy that the adverse effects of greed begin to rear its ugly head. So what exactly are the cons of greed? Following is a small list of some of the bad things or side effects that being greedy can cause: Arrogance, fleeting appreciation for acquisitions, loss of friends, family or other people who you have harmed, narcissism, and false friendships.

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These are all personal problems that greed can cause in someone. When greed becomes the core focus in ones life, one begins to lose track of what really matters in their life. Even if the greed is not related to money and may seem like a positive kind of greed, it is just not healthy to be obsessed with any type of possession. Money is always at the center of this debate and it is, quite frankly, at the center of greed. According to Osho (1978), greed says that you must be empty, so you want to stuff yourself with something or other. Money is a way to stuff oneself with things. Money is what buys things in our society so greedy people want money so they can stuff themselves with whatever they desire. Osho (1978) also says that, nobody is fulfilled by greed [] because things are outside and emptiness is inside. What Osho is saying here is that people are trying so hard to fill the emptiness that is felt within with material things that cannot fill it. Most people then either look to more things or look to some form of religion to fill the apparent void. Greed is not just a personal problem. Greed can spread very easily through groups, organizations and even communities. Most of the time it starts with the leader or a very respected person in the group and when the group members see the greed they subconsciously see that it is fine to be greedy and they themselves become greedy and thus creates a group culture centered on greed. This is not, at all, healthy for the group because then the group members all begin to slide to selfishness and the side effects mentioned above start to appear. This same problem can and has happened with organizations. Everybody knows of the collapse of Enron, a company that falsified funds and dealt with fake companies that led to its demise. A lot of people wondered and continue to wonder what happened and how the company allowed these things to progress to the point of ruin. Quite simply, greed is to blame. The top management of the company, including the CEO, Ken Lay, was all affected by greed and it

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trickled down to influence the entire organization as a whole. According to Manuel Vasquez, [The] general boom culture, I believe, was part of what affected Enron and led its managers and executives to think that anything was okay so long as the money kept rolling in (Velasquez, Moberg, Calkins & Hanson, 2002). That is pretty scary to think about. The company only cared about the money and that the income statements were always positive. This is a pretty clear example of greed influencing the organizational culture of a company and completely tearing it down. It doesnt just stop there either. Communities and even entire nations can be influenced in this way. Although it is not what the public wants to hear, the United States of America is presumably the greediest nation on this planet. No other nation lives the way that the people right here in this country do. Americans constantly over buy, over consume and over eat on a regular basis. Paul Krugman (2002) claims that it all started with the previously mention quote from the movie Wall Street. Even though, in the movie, Gordon Gekko got his comeuppance [] in real life his philosophy came to dominate the corporate practice (Krugman 2002). With that came the slew of scandals that are in the new pretty much daily, including Enron. This concept of greed has essentially influenced this entire nation, if wasnt always that way. Krugman also says: Twenty-five years ago, American corporations bore little resemblance to todays hard-nosed institutions. [] C.E.O salaries were tiny compared with todays lavish packages. Executives didnt focus single-mindedly on maximizing stock prices; they thought of themselves as serving multiple constituencies, including their employees.

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Can one blame this culture change on greed? Not solely but it cannot be denied that greed has played a significant role in this swift movement toward where corporate America is now. Greed is essentially a psychological disease that takes over the mind and forces people to think only of them while shoving all other things and people aside. Looking at the facts, one can easily deduce that greed has the characteristics of a disease. It has many bad side effects, can cause harm to others as well as oneself, and can spread just as easily. Can greed be good? It absolutely can but the adverse effects cannot be ignored and must be known to avoid being consumed by it. Summary There will always be an argument whether or not greed is a positive or evil thing. Greed has been around forever and will stay with humans for the rest of our existence. Greed has its benefits and downfalls. Greed is a common tool in our business world today; the main reason corporations use greed is because it brings in money. Greed can help people and it also can crush people and make them seem foul. Greed could be stopped in corporations but when one is greedy that person tends to have a butterfly effect. It has been said that a butterfly can flap its wings in Brazil, and cause a tornado in Texas (Lorenz, 1993). Metaphorically, this is what is happening in our corporate world. Greed can be a benefit for an organization to have, and there have been a number of organizations that wouldnt have risen to where they are without the use of greed. Is greed a good thing or a bad thing? Everyone has a different opinion depending on who you are and youre past experiences. Some abuse their power and are extremely greedy in the decisions they make and the things they do. Others do not use greed at all in their daily lives.

GREED The movie Wall Street says greed is a good thing, greed is right. But is it? That is the question: Is greed good, or bad? Alternatives Recommending alternatives for dealing with the over-abundance of greed on a basic,

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human level is something that this group is not qualified to attempt. However, there are several suggestions that can be made on the subject of greed when addressing the corporate arena. As found through our research, greed can be a powerful tool. Greed has the ability to motivate us to push our limits and to expand our horizons. Unfortunately, greed can also push us over the top of morally and ethically acceptable limits. In order to keep a harness on acceptable limits of greed within the corporate world, a set of guidelines need to be laid out and put into place. Following are some examples of ways to curb greed within the corporate world: 1. Do not allow the same company that does outside auditing to also provide consulting services. This creates a conflict of interest as seen with Enron and Arthur Andersen. 2. Change auditing firms on a regular basis. This process will lessen the possibility of the auditor becoming complacent just to keep a companys business. 3. Allow shareholders more influence over the company. Most boards require a 2/3 approval for any shareholder proposal; take that down to 51 percent. This way the target is not so impossibly high and it takes into account that many shareholders do not vote at all. 4. Put a cap on executive salaries. This will put more money back into the company and thus, back to the shareholders.

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5. Do not allow company executives to sell off their stock in one lump sum. Require public reporting of intended executive sales and make it mandatory that any sales must be made over an extended period of time; possibly two years. For example, if an executive wanted to sell 100,000 shares of stock he would have to publicly report it and it would be sold in increments of 12,500 per quarter over a two year period. This way their interests are kept in line with outside shareholders and the company as a whole. There is, of course, always the alternative of doing nothing. We can simply allow the corporate machine to continue on as it always has. It is almost certain that, one day, the misadventures of the corporate executives will catch up with them and the machine will come to a grinding halt if practices continue on their current course. Group Consensus After much discussion, we have agreed, as a group, not to agree. While each of the group members believes there is a place for greed in society and business, we cannot agree on the particulars of where and to what degree. We agree that greed is a great motivator to make people work hard and become productive and contributing members of society; but we are also aware of the affects greed can have when taken too far. There are several factors that contribute to our difference of opinions: Opposing sexes male vs. female Vast gap in ages 21 thru 45 Work experience part time thru corporate management Life experience single, living at home to married with children It would be nearly impossible to find two people who agree completely on how and when greed is good or bad; when its an advantage and when its a disadvantage. The only answer to

GREED the question of whether greed is good or bad would be: Yes, greed is goodto a point. There

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are many shades of grey when it comes to greed. Is greed acceptable in society? Again, yesto a degree. It is when greed goes beyond the bounds of whats considered acceptable to humanity that the problems arise. What we do not accept is when actions move beyond our morals and our values. But, since morals are such a personal thing, greed becomes a subject that has no one, correct answer.

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References

Blitz, H. (2007, November 14). Greed and ethics go hand in hand. Retrieved from http://www.freedomsphoenix.com/Opinion/026629-2007-11-13-greed-and-ethics-gohand-in-hand.htm B., P. (n.d.). Greed is good and bad. Phil for Humanity. Retrieved November 6, 2011, from http://www.philforhumanity.com/Greed_is_Good_and_Bad.html Economy: The human history of greed - The daily beast. (n.d.). The Daily Beast. Retrieved November 18, 2011, from http://www.thedailybeast.com/newsweek/2009/03/25/thegreater-greed.html Edney, J. (2005). Greed. Post autistic economic review (31), 11. Fleischauer, E. (2011, Oct 10). The benefits of corporate greed. Retrieved from http://www.decaturdaily.com/stories/The-benefits-of-corporate-greed,86724 Greed. (2011). Retrieved from http://dictionary.reference.com/browse/greed Hummel, C. (n.d.). Who are secondary stakeholders? Hummel, C. n.d. eHow. How to Videos, Articles & More - Discover the expert in you. Hummel, C. n.d. Retrieved November 6, 2011, from http://www.Hummel, C. n.d./info_8744802_secondary-stakeholders.html Krugman, P. (2002). Greed is bad. Retrieved from http://www.nytimes.com/2002/06/04/opinion/greed-is-bad.html Lacoma, T. (n.d.). Definition of primary stakeholders. Hummel, C. n.d. eHow. How to Videos, Articles & More - Discover the expert in you. Hummel, C. n.d. Retrieved November 6, 2011, from http://www.Hummel, C. n.d./about_6455864_definition-primarystakeholders.html Lewis, R. (2002). White collar crime and offenders: A 20-year longitudinal cohort study. Lincoln: iUniverse, Inc. Lorenz, E. (1993). The essence of chaos. University of Washington Press. Osho. (1978). The discipline of transcendence vol. 4. India: Ma Yoga Laxmi Rajneesh Foundation. Retrieved from http://www.oshoteachings.com/ Pressman, E. R. (producer), & Stone, O. (Director). (1987). Wall street [Motion Picture]. United States of America: 20th Century Fox.

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Roosevelt, C. (2011). Lust, anger, greed... and capitalism. Retrieved Oct 2011, from Huffington Post: http://www.huffingtonpost.com/curtis-roosevelt/capitalism-criticismroosevelt_b_906687.html Smith, R. C. (2009). Greed is good - WSJ.com. Business News & Financial News - The Wall Street Journal - Wsj.com. Retrieved November 6, 2011, from http://online.wsj.com/article/SB123396915233059229.html Stakeholder definition. (n.d.). Investopedia.com - Your Source for Investing Education. Retrieved November 18, 2011, from http://www.investopedia.com/terms/s/stakeholder.asp#axzz1e5URO8YY Thompson, R. (n.d.). Stakeholder analysis - winning support for your projects. Mind Tools Management Training, Leadership Training and Career Training. Retrieved November 18, 2011, from http://www.mindtools.com/pages/article/newPPM_07.htm Velasquez, M., Moberg, D., Calkins, M. S. J., & Hanson, K. O. (2002). What really went wrong with Enron? A culture of evil? Retrieved from http://www.scu.edu/ethics/publications/ethicalperspectives/enronpanel.html