The Madoff Affair: A Cautionary Tale of Corporate Social Responsibility Failures

Abstract

Response to Tara Stanley [Name] I like the fact that your post best define the effects of ignoring corporate social responsibility while engaging in a business. Based on your post, Madoff not only ignored the effect that his Ponzi business would have on his investors but also expressed little concern of his reputation as an entrepreneur in the long-run. I commend you for going an extra mile of stating some of Madoffs investors with the government organization (FCC) expressing failure in identifying un-ethical approaches that Madoff employed to enhance flow of his business. I would like to add on Madoff negligence as an entrepreneur. Though Madoff engaged in business in the early 60s and was well equipped with business skills as a qualified marketer and accountant, he purposely ignored the rule of law governing businesses to enjoy maximized profits ([Author], 7: 05-10). Unfortunately he buried all his eggs in one basket breaking all when the wind blew him.