Ethical Scandal in the Business Field: Luckin' Coffee (Essay Sample)
• Find and cite a recent ethical scandal in the business field. Summarize the situation and discuss the legal and/or ethical implications of the actions as applied to business. Then, discuss a recommendation you would suggest about how the ethical dilemma should be resolved or should have been resolved, despite the outcome reported. Chicago-Style
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Recent Ethical Scandal in the Business Field: Luckin Coffee
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Recent Ethical Scandal in the Business Field: Luckin Coffee
Luckin Coffee, China’s coffee chain and rival to Starbucks, was involved in rampant fraudulent accounting practices. According to U.S regulators, the unicorn startup coffee chain had internationally and materially overstated its revenues in 2019 and understated its net loss (Peng, 2020). The company had fabricated much of its sales in 2019, thus attracting investigation by the U.S Securities and Commission and China’s securities regulator.
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