1. What led to the eventual collapse of Enron under Lay and Skilling? The collapse of Enron seems to be rooted in a combination of the failure of top leadership‚ a corporate culture that supported unethical behavior‚ and the complicity of the investment banking community. In the aftermath of Enron’s bankruptcy filing‚ numerous Enron executives were charged with criminal acts‚ including fraud‚ money laundering‚ and insider trading. Ben Glisan‚ Enron’s former treasurer‚ was charged with two-dozen
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1.What are the main reasons that Enron collapsed? I think the reasons for the collapse are three fold. Firstly Enron’s accounting practices(mark to market accounting- companies estimate how much revenue a deal is going to bring in and state that number in their earnings the moment the contract is signed) Its managements goal was to maintain the appearance of value by always having rising stock prices rather than focus on creating real value for the company. Secondly its reliance on Special
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Enron’s Collapse In the case of Enron’s collapse‚ many would blame the external auditor’s collusion with the management‚ the aggressive accounting policy it had adopted to manipulate its earnings or the Special Purpose Entity (SPE) it had created as a sham to conceal its debts. However‚ everything began from an internal environment with weak controls. The internal environment is the capstone of all other components within an organization’s ERM framework‚ influencing strategy formulation‚ objective
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The causes of the collapse of communism in Eastern Europe were that it had no popular support‚ political downfall‚ and economic problems. The fact that the USSR had gained all of its money from the Eastern European states (after world war 2)‚ Stalin’s paranoia of the West forced him to put all that money into defensive arms and therefore none of that money was being channeled into the country. Many historians would argue that it was at this point that the USSR began its downward spiral and this is
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Empire existed alongside the Romans with many comparable achievements in influence and scale. While the fall of the Romans is documented fairly well‚ certainly a result of being split into two separate entities with separate records. However; the collapse‚ or rather‚ disappearance of the Sassanid Empire is quite a bit more difficult to determine. How did such a prominent power as the Sassanid Empire disappear in such an abrupt manner? Many scholars have attempted to address this question‚ with a good
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Political Dynasty in the Philippines Political dynasty is very prevalent in our country for a long time now. The 1987 Philippine Constitution‚ Article II‚ Section 26 states “The State shall guarantee equal access to opportunities for public service and prohibit political dynasties as may be defined by law”. The provision provides for the prohibition of political dynasty but it did not give a clear definition of what political dynasty is‚ instead it left this task to the Congress. Many arguments
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The Zhou Dynasty You might think‚ why would I choose the Zhou dynasty over something more commonly known? Well‚ I decided choose the Zhou dynasty‚ because I realize that there was a lot of changes that they made to China‚ some even crucial to disease prevention and protection of the civilization as a whole. I also chose the Zhou dynasty because I like how they used a lot of persuasion and useful trade tactics to fit in with the Chinese culture. In order to be excepted as rightful rulers of
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What an embarrassing moment it is! Marriages in Cho-sun Dynasty were not gotten by chemical relationship between a wife and a husband‚ but by each parent’ agreement‚ in terms of background of family. The purpose of this research is to discuss how women lived during the Chosun Dynasty and the circumstances that contributed to the creation of gender relation in Korean society in the time. Before going through the life of women in Chosun Dynasty‚ there are several concepts to be explained to understand
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Philippine’s Political Dynasty The 1987 Constitution of the Philippines states in Article II Section 26‚ "The State shall guarantee equal access to opportunities for public service‚ and prohibit political dynasties as may be defined by law." How can we define political dynasty? Political dynasty is a family‚ clans or group that maintains power for several generations. These clans root themselves into our national and local governments for many decades. Almost every position in the government
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The Sui Dynasty was a Chinese dynasty that unified China in the 6th century. It was preceded by the Northern and Southern dynasties and was followed by the Tang Dynasty. The Sui Dynasty began around 580 C.E. and ended in 618 C.E. The Sui Dynasty was founded by Yang Chien (Emperor Wendi Ti) and his son Emperor Yangdi. Among Wendi’s first acts were the full restoration of rights to Buddhists and the rehabilitation of there clergy. Emperor Wendi also ended the suppression of Daoism. Their capital
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