Answer the following questions based on the film Enron: The Smartest Guys in the Room (2005). 1. (a) Describe the ownership structure at Enron. (b) How did the ownership structure contribute to the Enron scandal? (15 points) When Enron became a publicly traded company‚ the employees and executives had more incentive to manipulate earnings and financials. With the shift in structure‚ there were more external stakeholders to satisfy‚ which caused the company to focus on short-term results‚
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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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“In the end utilitarianism is simply a moral justification for individual/group selfishness” Utilitarianism is a theory in which the quote by Jeremy Bentham applies “The greatest happiness to the greatest amount of people” which means that the best action is the one in which the most pleasure is given to the majority of people. The majority always wins rather than the minority and pleasure is the sole good whereas pain is the sole evil. On one hand this is classed as selfless as using utilitarianism
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education emphasizes the benefits of abstinence while also teaching about contraception and disease-prevention methods. Abstinence-only programs education includes discussions of values‚ character building‚ and refusal skills. They promote abstinence from sex for unmarried people and do not teach about contraception. They do not reduce pre-marital sex‚ but they do cause young people to avoid contraception. Because of the ineffectiveness of abstinence-only programs‚ abstinence-plus education should be
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Enron: Questionable Accounting Leads to Collapse In the case of Enron‚ it comes down to pure greed and a lack of accountability. From the top‚ there was illegal activity with Ken Lay‚ Jeffrey Skilling‚ and Andrew Fastow who raided the company as though it was their own personal bank. On top of that‚ the culture of the rest of the company was to make as much money as they could and employees were rewarded by the amount of profit they could make without questioning the ethical means to do so.
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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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names of religions which most of us believe in seems a little immoral. I’m not saying everyone should believe in any religion‚ but it still seems wrong that the increase and popularity of people’s personal lives is on the rise. As mentioned in the “End of Solitude”‚ an article by William Deresiewicz‚ in his fifth stanza he mentions how Marilynne Robinson speaks on her interpretation of Calvinism and besides that slightly touched upon the idea of focus within ones inward self. Well with that strand
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Enron: Questionable Accounting Leads to Collapse The Enron Corporation was established by integrating two major gas pipelines in 1985. The Company provided products and services related to natural gas‚ electricity‚ and communications and it was one of the world’s leading organizations at these sectors with claimed revenues of nearly $101 billion in 2000. Throughout the 1990s‚ Chair Ken Lay‚ chief executive officer Jeffrey Skilling and chief financial official officer Andrew Fastow transformed
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"Enron the smartest man in the room" was a very intense story on how a fortune five hundred company CEO’S can get very greedy and turn on there employees. This story is very true and teaches you how to be true to your employees and also other business investors. This story tells you how wrong humanity morals can end up in greed and even death due to guilt. This story takes place with many business and financial advisors and writers who looked into the story and explained it the best they can to
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these Caribbean natives. So the Ayllon guy go so himself and they trick the Indians on the boat and sail off (my teacher said the Ayllon man was against it and tried to return them‚ but that makes no sense when he was looking for work force in the beginning.) so they land and they are sold in slavery. on the way the ship wrecked and a lot of slaves dies anyway one of the slaves that lived‚ they name him Chicora (after what SC used to be called by them) he got saved and learned Spanish. So one day the
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