“Describe how Enron could have been structured differently to avoid such activities” Enron consisted of a Board of Directors‚ Chief Executive Officer (CEO)‚ Chief Operating Officer (COO)‚ Chief Financial Officer (CFO)‚ Chief Accounting Officer (CAO) and a plethora of other officers. The upper level structure of Enron was normal compared to many other large businesses. The Board of Directors is charged with making policies for the company and the CEO and other officers are responsible for carrying
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some research on the Internet about what has happened with Enron. Now apply the three questions used to test the merits of a winning strategy (text p13) to Enron. Describe the strategic management failure in Enron that led it into its demise? Enron was formed in 1986 from the merger of natural gas pipeline companies Houston Natural Gas and Internorth. At the time of filing for Chapter 11 Bankruptcy protection in December 2001‚ Enron had a portfolio of diversified activities ranging from the transportation
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The Enron Case Questions: 1. Do you believe that there has been a significant shift or evolution over the past several decades in the concept of “professionalism” as it related to the public accounting profession? If so‚ explain how you believe that the concept has changed or evolved over that time frame and identify the key factors responsible for any apparent changes. a. Do you believe that there has been a significant shift or evaluation over the past several decades in the concept
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Review of Accounting Ethics Nikholas Martin Dr. Bell ACC 557: Financial Accounting Tuesday‚ 22 January 2013 Review of Accounting Ethics Accounting profession requires a lot of skills and ethical knowledge. This is because there are numerous temptations that accountants face such as pressures to satisfy investors or to maintain an upward revenue growth (McPhail & Walters‚ 2009). As such‚ ethics are essential since accountants who maintain ethical behaviours are able to develop inner
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Portfolio Project: The Legal Environment of Business “What specific changes‚ if any‚ would you recommend to a policy maker to increase the effectiveness of corporate governance in this post-Enron era? Due to corporate scandals‚ most notable the Enron scandal there appears to be a decline in the confidence of leadership in the American business. The first round of scandals saw Congress pass the Sarbanes-Oxley Act which “requires companies to set up confidential systems so that employees and others
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deregulation led to schemes of market manipulation in 2000 and 2001 by major energy companies‚ including Enron Corporation. The philosophy of egoism emphasizes that decisions on what is right or wrong are based on the choice which best serves the self-interest of the decision maker. This approach says that individuals make choices based on the benefits they gain from them. In the documentary‚ “Enron: The
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ABSTRACT Enron‚ once the countries seventh-largest company according to the Fortune 500‚ is a good example of how greed and the desire for success can transform into unethical behavior. Good ethics in business would be to compete fairly and honestly‚ to communicate truthfully and to not cause harm to others. These are things that Enron did not seem to display‚ which led to Enron’s operations file for bankruptcy in 2001. Enron’s scandal has become one of the most talked about forms of unethical
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Chapter 1‚ Introducing Business Ethichs What is business ethics? Business Ethics (BE) has been called an oxymoron. By an oxymoron‚ we mean the bringing together of two apparently contradictory concepts. The statement also suggests that there are not‚ or cannot be‚ ethics in business. However‚ there appears to be good reason to suggest that business ethics as a phenomenon‚ and as a subject‚ is not an oxymoron. Whilst there will be disagreements about what exactly constitutes “ethical” business
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How could the ENRON scandal been avoided? The Enron scandal could have been avoided had they had an organizational culture of honesty‚ integrity and ethics 1. There should have been stronger management and better ethical oversight. Even employees should have had a sense of the expected ethical values and try to maintain a strong sense of organizational culture. 2. There should have been measures in place to oversee the activities of accounting firms (Arthur Andersen)‚ as they acted as both Enron’s
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SCHOOL OF LAW Year 2013-14 Term 1 LAW001 ETHICS AND SOCIAL RESPONSIBILITY Instructor: David N. Smith Practice Professor‚ School of Law Tel: Email: Office: 6828 0788 davidsmith@smu.edu.sg School of Law‚ Room 4044‚ Level 4 COURSE DESCRIPTION Issues of ethics and social responsibility arise in all professions and all aspects of life. The failure to anticipate‚ recognize and deal effectively with these issues can have serious implications for individuals‚ companies‚ governments
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