In 2012 came the misfortunes of the financial crisis seemed to be fading, business resumed as usual and part of examination practices of business management began to decline as well. That is until another major financial scandal appeared in Japan in the fall of 2011. It is slowly revealed that the 92-year-old camera and photo imaging medical business, Olympus, hiding losses for over a decade – about $ 1.7 billion – well before the economic pressure, job growth slow and poor confidence of existing investors in the grip of the global economy. Fraud renewed emphasis on corporate governance policies in the world, but especially in Japan, where the lack of independence of the Board and a deeply rooted personal loyalties rooted in corporate culture fostered an environment which makes it difficult for scandals like that be made public, not to mention the complainants to appear on them.
by
Jay W. Lorsch,
Suraj Srinivasan,
During Kathleen
Source: Harvard Business School
24 pages.
Release Date: October 10, 2012. Prod #: 413040-PDF-ENG
Olympus (A) Case Solution
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