Enron
Enron Case Study
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XXXXXXXXX State College
Enron Case Study
Enron was a corporation founded in 1985, when a merger combined Houston Natural Gas and InterNorth (Thomas, 2002). Throughout the first five years of Enron’s existence, they had many struggles. According to Salter (2005), the first years had many “near death” experiences. Eventually Enron was able to prevail over their many “near death” experiences. In 1989, “Enron locked in its first fixed price contract to supply natural gas, to a Louisiana aluminum producer” (Salter, 2005, p. 2). They continued to promote and gain success by recruiting employees from MBA schools. Only the brightest and best were hired to maximize the success of Enron. Enron expanded to trading electricity in 1994. Since the breakthrough of trading electricity, Enron continued to grow and continued to become an incredibly successful corporation. However, due to unfortunate decisions both within and outside of the company Enron declared bankruptcy on December 2, 2001 (Salter, 2005).
Workforce
Enron was a company made up of the elite group of workers. Enron focused on hiring the “best and brightest traders” (Thomas, 2002, p.42) to maintain their status of being the top energy trading company. MBA schools were the sole focus of recruiting for Enron. However, there was a screening process that each recruit was required to go through. Enron screened for a sense of urgency, intelligence, a strong work ethic, and problem-solving ability (Salter, 2005). The company set the standards high to ensure they employed the best the corporation could have. The employment of MBAs was not solely due to recruitment. MBAs also showed a great interest in the company of Enron. This was primarily because Enron offered great benefits and compensation to their employees. Examples of a couple perks for working at Enron included, a gym open to only the company and concierge services for the employees (Thomas, 2002, p. 42).
XXXXX
XXXXXXXXX State College
Enron Case Study
Enron was a corporation founded in 1985, when a merger combined Houston Natural Gas and InterNorth (Thomas, 2002). Throughout the first five years of Enron’s existence, they had many struggles. According to Salter (2005), the first years had many “near death” experiences. Eventually Enron was able to prevail over their many “near death” experiences. In 1989, “Enron locked in its first fixed price contract to supply natural gas, to a Louisiana aluminum producer” (Salter, 2005, p. 2). They continued to promote and gain success by recruiting employees from MBA schools. Only the brightest and best were hired to maximize the success of Enron. Enron expanded to trading electricity in 1994. Since the breakthrough of trading electricity, Enron continued to grow and continued to become an incredibly successful corporation. However, due to unfortunate decisions both within and outside of the company Enron declared bankruptcy on December 2, 2001 (Salter, 2005).
Workforce
Enron was a company made up of the elite group of workers. Enron focused on hiring the “best and brightest traders” (Thomas, 2002, p.42) to maintain their status of being the top energy trading company. MBA schools were the sole focus of recruiting for Enron. However, there was a screening process that each recruit was required to go through. Enron screened for a sense of urgency, intelligence, a strong work ethic, and problem-solving ability (Salter, 2005). The company set the standards high to ensure they employed the best the corporation could have. The employment of MBAs was not solely due to recruitment. MBAs also showed a great interest in the company of Enron. This was primarily because Enron offered great benefits and compensation to their employees. Examples of a couple perks for working at Enron included, a gym open to only the company and concierge services for the employees (Thomas, 2002, p. 42).