Enron Personal Ethics
What Role Does Personal Ethics Play in an Organization
In late 2001, the United States economy experienced a shock as Enron, the country's 7th largest corporation, declared bankruptcy. Many people lost their jobs, and even more investors lost billions of stock dollars as shares collapsed. As the rubble was removed, many signs of unethical acts surfaced, and were found to be carried out by some of the principal parties in the company. This debacle not only affected the employees and investors of the company, but also affected the regulations and the credibility of corporations today.
As seen in the Enron failure, corporations consistently hold more and more impact on the shape and structure of the world as we see it. They are the large and small organizations that society places their trust in to process the economy. Whether it be a large conglomerate such as Enron, or a one person "mom and pop" shop, society places their trust in these companies and …show more content…
A company born of poor ethics in the culture is ultimately at risk for unscrupulous acts. The acts of Enron were probably structure from only a small percentage of its employees, however, due to the company's unethical culture, procedures and policies were allowed that did not facilitate personal ethical behaviors. I believe it is this lack of personal ethics that served as the catalyst to the demise of Enron as a company and the damage that they leave behind.
Who is responsible for a company's ethical culture? I believe the leaders of the organization are responsible for these ethics through there own personal ethics. One might argue that personal ethics do not have a role, provided they are kept separate from the business world. I believe it is impossible to maintain a separation between personal and business ethics. They inevitably intermingle. The issue is then, how to foster a sense of accountability that transcends the
In late 2001, the United States economy experienced a shock as Enron, the country's 7th largest corporation, declared bankruptcy. Many people lost their jobs, and even more investors lost billions of stock dollars as shares collapsed. As the rubble was removed, many signs of unethical acts surfaced, and were found to be carried out by some of the principal parties in the company. This debacle not only affected the employees and investors of the company, but also affected the regulations and the credibility of corporations today.
As seen in the Enron failure, corporations consistently hold more and more impact on the shape and structure of the world as we see it. They are the large and small organizations that society places their trust in to process the economy. Whether it be a large conglomerate such as Enron, or a one person "mom and pop" shop, society places their trust in these companies and …show more content…
A company born of poor ethics in the culture is ultimately at risk for unscrupulous acts. The acts of Enron were probably structure from only a small percentage of its employees, however, due to the company's unethical culture, procedures and policies were allowed that did not facilitate personal ethical behaviors. I believe it is this lack of personal ethics that served as the catalyst to the demise of Enron as a company and the damage that they leave behind.
Who is responsible for a company's ethical culture? I believe the leaders of the organization are responsible for these ethics through there own personal ethics. One might argue that personal ethics do not have a role, provided they are kept separate from the business world. I believe it is impossible to maintain a separation between personal and business ethics. They inevitably intermingle. The issue is then, how to foster a sense of accountability that transcends the