Responsible Business Essay

Submitted By coolfacer
Words: 383
Pages: 2

Dangle a Yellow Wristband on the Old Oak Tree

Lance Armstrong, the seven-times Tour de France winner, Chairman of Livestrong and founder of Lance Armstrong Foundation, is one of the most respected figures in the sports world, formerly.

Like other sports superstars, Armstrong had a business empire built surrounding him. During the past decade, on top of the reputation, Armstrong has been rewarded by his business ties more than most pro athletes have. In 2009 alone, he made tens of millions dollars from salary and performance-related bonus -- from sponsorship to autobiography selling. However, as he mentioned, “2009 was part of the beginning of the end”.

In June 2012, USADA alleged Armstrong had been using performance-enhancing drugs. Once again, Armstrong denied the allegation but chose not to appeal the decision. On October 17, 2012, Nike stopped the contract with Lance Armstrong. Shortly after, Lance stepped down as the chairman of Livestrong. Several days ago, Armstrong admitted doping in an interview with Opera.

Why Armstrong did wrong in his “business”? He knew doping is wrong, but under personal and social pressure, or in his own words, the “ruthless desire to win”, he still took the drug. However, it is hard to tell what portion of his continuous doping decisions was driven by economic considerations.

His “victories” brought glory to his life, his foundation and his sponsors temporarily, but violated the following ethical issues discussed in class: deception, giving false impression, hiding information, unfair advantage and violating rules.

Take the “giving false