Shivam Gupta 10/BBS/0177 Abhinav Goel 10/BBS/0179 Jai Singh Gambhir 10/BBS/0157 Declaration We student of Bachelor of Business Studies (1st semester)‚ in Deen Dayal Upadhyaya College‚ University of Delhi‚ hereby declare that I have made this academic project titled ‘Corporate Governance’ as a part of the internal assessment for the subject ‘Fundamentals of Management’‚ for academic year 2009-10. The project is submitted for the first time and here only and the information submitted
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Enron‚ a Houston-based commodities‚ energy and service corporation‚ was named “America’s Most Innovative Company” for six consecutive years by Fortune Magazine. Ironically‚ its shares price had peaked at $90.75 in August 2000 and dropped massively to $0.67 in January‚ resulting in shareholders losing approximately $11 billion. In the November of 2011‚ it was revealed that Enron’s earnings had been overstated by several hundred billion dollars because enormous debts had been kept off from the balance
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Comprehensive Case 1.1 Enron 1. There were several parties responsible for the "crisis of confidence" created by the Enron debacle. Enron’s executives were responsible for their behavior in trying to adjust their financial statements. Andersen’s auditors were responsible for not doing their jobs with integrity and not keeping their independence in from Enron. Regulatory groups were responsible for making
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The film titled‚ Enron‚ the Smartest Guys in the Room‚ is a phenomenal examination of an organization that in all likelihood started out to perform ethically but‚ after a modification in design and moral decision-making‚ it evolved into an organization based upon greed and performance no matter what cost. Ironically‚ the motto of this company was‚ “ask why” however this is perhaps the sole question that many employees are now asking themselves and should have routinely asked in the years
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How did the corporate culture of Enron contribute to its Bankruptcy? Once a sound company listed in fortune 500‚ Enron‚ lead to downfall because of deceptive accounting system incorporated within the organization. Enron’s dubicious finance finally collapsed in Dec 2‚ 2001 as it filed Bankruptcy in New York Bankruptcy court. The corporate culture of Enron focused on financial performance neglecting the stakeholder’s value .The relentless emphasis on the importance of the shareholder’s value created
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The World War I could be avoided because of: 1. Uncertainty of Great Britain Germany planned on conquering France in a short time period and then eliminate it from the war‚ after which they would carry on to the Eastern front where they would take on Russia (which wouldn’t have made it in time to help France). On the other side‚ in Great Britain the Foreign Minister‚ Sir Edward Grey held a conference meeting in July 1912‚ in which he stated that Britain would start a war only should Belgium
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1 Could a machine be conscious? This question is often dismissed as simple by those that would say “yes” in response. The usual claim made by the pro camp is that man is a ‘biological machine’ and is conscious‚ ergo‚ a machine is conscious. If we‚ humans‚ are truly biological machines and we are at the same time conscious then I would agree that yes‚ categorically‚ a machine could be conscious. But is it really that simple? I contend that it is a more difficult problem but not that it is a complicated
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Kenneth Lay founded Enron in 1985. Two years after its founding‚ the company becomes embroiled in scandal after two traders begin betting on the oil markets‚ resulting in suspiciously consistent profits. Enron’s CEO‚ Louis Borget‚ is also discovered to be diverting company money to offshore accounts. After auditors uncover their schemes‚ Lay encourages them to "keep making us millions". However‚ the traders are fired after it is revealed that they gambled away Enron’s reserves‚ nearly destroying
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Yes‚ he could Democrat Barack Obama has become the first African-American to win the White House. During the election campaign for the presidency‚ Obama made a key speech‚ which became known as the “Yes we can” speech because of the way the phrase was repeated at key moments. The power of his victory speech left a mark on its listeners. During those twenty minutes‚ Americans could merge into “one nation‚ one people” but also each individual‚ even the enemies‚ felt they had a place in his speech
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A. The Implications for corporate governance and financial institutions In Enron’s case‚ we may see that the principle weakness of corporate governance today is the excessive concentration of power in the hands of top management. Enron involve allegations of massive accounting fraud and huge losses in shareholder value. In May 2002‚ the Business Roundtable released its Principles of Corporate Governance. This is a set of principles intended to assist corporate management and boards of directors
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