Monday, January 6, 2020

Case Analysis Enron Corporation - 891 Words

PROBLEM (ISSUE) STATEMENT: Having the position that you want, the money you dream about, and the company you love to work for are the things that will absolutely blind your eyes of seeing anything wrong or knowing how this money came from. This is how the employees in Enron Corporation felt at the time when the company was the biggest energy company in the nation, and was having the best stock in the market. â€Å"You could feel the excitement at 6 a.m. You walked in the door and got energized, all those creative juices flowing. You worked with the best, the most brilliant. It was a great, great company, says one of the employees in Enron for New York Times (Turnage and Keyton). Therefore, it is obvious that the employees were having the best time in their lives. In the meantime, it was obvious for them to notice there was something wrong financially, but they ignored it because they were living in paradise. However, Sherron Watkins, Enron vice president, who is known as the whistleblower, knows the problem t hat was happing in Enron, but she was in a dilemma in how to minimize the individual damages by blowing the whistle at the right time. The company got to the point where the employees have moral silence, deafness, and blindness. For moral silence, the employees were avoiding any kind of action against unethical behavior. Deafness is that the employees are not willing to listen to any ethical issues. When talking about moral blindness, the employees do not see the problemShow MoreRelatedThe Fall Of Major Telecommunications Company Onetel And Enron1319 Words   |  6 Pages OneTel and Enron were huge technology companies, dominating the competition that they faced although - everything changed. Both of these companies operated in the same era, coincedently both suffering financial collapse. The reasons were mainly because of failure to follow major accounting principles, lacking morals and lacking strong work ethics. If even a major corporation can fall into this â€Å"trap†, then avoiding doesn’t sound easy, although accountants can easily avoid scandals by following aRead MoreFinancial Collapse : The And Enron1320 Words   |  6 PagesOneTel and Enron were huge technology companies, dominating the competition that they faced although - everything changed. Both of these companies operated in the same era, coincedently both suffering financial collapse. The reasons were mainly because of the failure to follow major accounting principles, lacking morals and lacking strong work ethics. If even a major corporation can fall into this â€Å"t rap†, then avoiding doesn’t sound easy, although accountants can easily avoid scandals by followingRead MoreEnron And The Enron Scandal1588 Words   |  7 PagesEnron was a corporation located in Houston, Texas and in just fifteen years the US energy trading and utilities company grew to become one of America’s largest and more successful cooperation’s. Enron suffered a major fall. After being one of the most successful corporations Enron became the biggest company to file bankruptcy in history. In this research paper it will discuss about the history of Enron, the fraud committed and who is to blame. The historical development of white collar crime in theRead MoreModern White Collar Crime : A Modern Or Postmodern Crime1079 Words   |  5 PagesSociety has made many individuals question Enron scandal in regards to what is a modern or postmodern crime. Modern white collar crime focuses primarily on agriculture, productive activity, hand-tool technology, a nd farming villages as a community or family unit. While, postmodern white collar crime deals with more advanced technology such as computers, virtual communities, television/computer link-ups, and telephone communication. Overall, those who seek a career in criminology must navigate terminologyRead MoreEnron And The Collapse Of Enron1303 Words   |  6 PagesEnron, a company which originated in Huston, Texas, was one of the largest American energy trading corporations in the nation. Although it was one of the most well known companies, it was also one that crashed and burned the fastest, shocking many people when it did. Not only did it end fast, the company caused quite a scandal which is still being discussed and reviewed in today’s world. Enron’s bankruptcy scandal was so widely known because of the many people who associated themselves with the companyRead MoreArthur Andersen: Failure to Report Accurately Essay1214 Words   |  5 PagesEnron Corporation has been accused of cooking the books and overstating company profits in its financial reports. In addition, Enron’s trading business adopted mark-to-market accounting, which meant that once a long-term contract was signed, income was estimated as the present value of net future cash flows, even though in some cases there were serious questions about the viability of these contracts and their associated costs. Author Andersen provided both consulting and auditing services whichRead MoreEnron Scandal1477 Words   |  6 Pagesï » ¿Current issue: Scandals in auditing Enron Scandal 1. Introduction Accounting scandals are political or business scandals which arise with the disclosure of financial misdeeds by trusted executives of corporations or governments. These days, not too often, these scandals are splashed as headlines across media. Why? Because there are complex groups of stakeholders who might be seriously affected by the scandals. Enron scam was the most remarkable scandal in 20 centuries by their institutionalizedRead MoreWhite Collar Crime Fbi Investigation1552 Words   |  7 PagesIntroduction: It was 13 years ago that the announcement of bankruptcy by Enron Corporation, an American energy, commodities and service firm at the time, would unravel a scandal resulting in what is regarded as the most multifaceted white-collar crime FBI investigation conducted in history. High-ranking officials at the Houston-based company swindled investors and managed to further their own wealth through intricate, shifty accounting practices such as listing assets above their true value to increaseRead MoreAnalyzing Ethical Behavior920 Words   |  4 PagesEthics is also particularly imperative when laboring with financial information. It is very hard to have faith in someone managing plenty of money. Corporations in the past have distorted their financial statements in regulation to look superior to stockholders, without thinking of the penalty that may be a consequence if they get caught. If a corporation does not encourage good quality ethical conduct within the business, it is difficult t o confide in the financial statements. Analyzing EthicalRead MoreJaclyn Givens. Kathy Osburn. Management 101. 5/8/17. The1400 Words   |  6 PagesJaclyn Givens Kathy Osburn Management 101 5/8/17 The Enron Era â€Å"Just as character matters in people, it matters in organizations,† says Justin Schultz, a corporate psychologist in Denver. The Enron scandal had a big exposure in 2001 confirming the big secret to the increase in billions. In July 1985, Enron formed the merger of Houston Natural Gas and Omaha-based Inter North. The Enron corporation was an American energy company based in Houston Texas. The corporation’s catastrophe in 2001 signifies

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.