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Publish Date: 2024-11-01

Harvard Case - Should I Stay or Should I Go? Assessing Risk in Carlos Ghosn's International Escape

"Should I Stay or Should I Go? Assessing Risk in Carlos Ghosn's International Escape" Harvard business case study is written by Eugene Soltes, Grace Liu, Muneeb Ahmed. It deals with the challenges in the field of Business Ethics. The case study is 13 page(s) long and it was first published on : Dec 17, 2021

At Fern Fort University, we recommend that Carlos Ghosn's actions be analyzed through the lens of corporate social responsibility, business law and ethics, and leadership. We believe that his escape, while seemingly successful in the short term, ultimately damaged his reputation, his career, and his legacy. This case study highlights the importance of ethical decision-making, transparency, and fiduciary duty in the context of global business.

2. Background

This case study focuses on Carlos Ghosn, a prominent figure in the automotive industry, who was facing charges of financial misconduct in Japan. Ghosn, the former chairman and CEO of Nissan, was accused of underreporting his income and misusing company funds. Facing a lengthy prison sentence, he orchestrated a daring escape from Japan, fleeing to Lebanon, his native country.

The main protagonists of the case study are:

  • Carlos Ghosn: The former chairman and CEO of Nissan, facing charges of financial misconduct.
  • Nissan: The Japanese automaker, deeply impacted by the scandal and Ghosn's escape.
  • Japanese authorities: Investigating Ghosn's alleged crimes and seeking his extradition.
  • Lebanese authorities: Providing refuge to Ghosn and refusing to extradite him.

3. Analysis of the Case Study

This case study can be analyzed through the framework of stakeholder theory. Ghosn's actions impacted various stakeholders, including:

  • Nissan: The company suffered reputational damage, financial losses, and operational disruptions.
  • Employees: Experienced uncertainty and anxiety about the future of the company.
  • Investors: Faced potential losses due to the scandal and its impact on Nissan's stock price.
  • Customers: May have lost trust in Nissan's brand and its commitment to ethical business practices.
  • Japanese government: Suffered a blow to its legal system and its reputation for fairness.
  • Ghosn himself: His reputation and career were severely damaged, and he faced potential legal repercussions.

Ghosn's actions also raise significant issues related to:

  • Corporate governance: The case highlighted the importance of strong corporate governance structures and internal controls to prevent financial misconduct.
  • Business ethics: Ghosn's decision to escape raises questions about his ethical judgment and his commitment to upholding the law.
  • Leadership: The case raises questions about the role of leadership in promoting ethical behavior and upholding corporate values.
  • International business: Ghosn's escape highlights the complexities of navigating legal and ethical issues in a globalized business environment.

4. Recommendations

  1. Strengthen Corporate Governance: Nissan should implement a comprehensive review of its corporate governance practices, including strengthening internal controls, enhancing transparency, and promoting a culture of ethical behavior.
  2. Foster Ethical Leadership: Nissan should prioritize the selection and development of ethical leaders who embody the company's values and promote a culture of integrity.
  3. Enhance Transparency and Accountability: Nissan should increase transparency in its financial reporting and decision-making processes, holding executives accountable for their actions.
  4. Develop a Robust Whistleblower Program: Nissan should establish a confidential and independent whistleblower program to encourage employees to report any suspected wrongdoing.
  5. Engage Stakeholders: Nissan should proactively engage with its stakeholders, including employees, investors, customers, and the public, to address their concerns and build trust.

5. Basis of Recommendations

These recommendations are based on the following considerations:

  1. Core competencies and consistency with mission: Strengthening corporate governance and promoting ethical leadership are essential for maintaining Nissan's core competencies and achieving its mission of sustainable growth and innovation.
  2. External customers and internal clients: Engaging stakeholders and fostering transparency are crucial for building trust with customers, investors, and employees.
  3. Competitors: By demonstrating a commitment to ethical business practices, Nissan can differentiate itself from competitors and attract talent and investment.
  4. Attractiveness: Implementing these recommendations will enhance Nissan's reputation, improve its financial performance, and attract investors and customers.

6. Conclusion

Carlos Ghosn's escape from Japan was a high-profile example of a corporate executive seeking to avoid legal consequences for alleged financial misconduct. His actions highlight the importance of strong corporate governance, ethical leadership, and transparency in global business. By implementing the recommendations outlined above, Nissan can mitigate the risks associated with future scandals, rebuild trust with stakeholders, and position itself for long-term success.

7. Discussion

Other alternatives not selected include:

  • Ignoring the scandal: This would have been a risky and potentially damaging strategy, as it would have sent a message that Nissan was not committed to ethical business practices.
  • Attempting to cover up the scandal: This would have been unethical and likely would have led to further legal and reputational consequences.

Key assumptions of our recommendations include:

  • Nissan's commitment to change: The recommendations assume that Nissan is committed to implementing the necessary changes to improve its corporate governance and ethical culture.
  • The effectiveness of internal controls: The recommendations assume that the proposed internal controls will be effective in preventing future misconduct.
  • The willingness of stakeholders to forgive: The recommendations assume that stakeholders will be willing to forgive Nissan and restore their trust in the company.

8. Next Steps

  1. Immediate Action: Nissan should immediately convene a special board meeting to discuss the recommendations and develop a plan for implementation.
  2. Short-Term Goals: Within the next six months, Nissan should implement a new code of conduct, establish a whistleblower program, and conduct a comprehensive review of its corporate governance practices.
  3. Long-Term Goals: Over the next two years, Nissan should develop a comprehensive strategy for promoting ethical leadership, enhancing transparency, and engaging with stakeholders.

This case study serves as a cautionary tale for all businesses, highlighting the importance of ethical decision-making, transparency, and accountability in a globalized business environment. By embracing these principles, companies can build a strong foundation for sustainable growth and success.

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Case Description

In 2018, automotive tycoon Carlos Ghosn was arrested in Japan on financial misreporting charges, followed later by charges of improper payments and misappropriation of funds. Over a year later, still awaiting trial, Ghosn organized his escape from house arrest in Tokyo to Beirut, Lebanon, where he held a press conference alleging an unfair Japanese justice system and political persecution. This case introduces the business and legal context surrounding Ghosn's case, and explores Ghosn's perspective and decision-making process from the time between arrest and escape.

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