#1. Based on what you read in this chapter‚ summarize in one page or less how you would explain Enron’s ethical meltdown. Ethics refers to “the principles of conduct governing an individual or a group; specifically‚ the standards you use to decide what your conduct should be (Dessler‚ 2011).” Secondly ethical decisions always involve questions or morality (Dessler‚ 2011). Anyone that had anything to do with the meltdown at Enron had no ethical standards. Enron had a lack of accounting
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Abstract - The Enron scandal is one of the biggest financial scams ever to take place and its root’s lie in the desire of the senior members of Enron to earn as much for themselves as possible and were assisted in this greatly by the negligence shown by their auditor’s and consultants‚ Arthur Andersen. Most of the debts and tangible assets of Enron were on the balance sheet of partnerships that were run by high-ranking officials within the corporation and these partnerships were recorded as related
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The Enron scandal‚ revealed in October 2001‚ eventually led to the bankruptcy of the Enron Corporation‚ an American energy company based in Houston‚ Texas‚ and the de facto dissolution of Arthur Andersen‚ which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time‚ Enron was attributed as the biggest audit failure.[1] Enron was formed in 1985 by Kenneth Lay after merging Houston Natural
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Have you ever wanted to know what read about what really happened in the Boston Massacre. It all started in Boston one fateful day. The British came to Boston and the people of Boston were not happy about it. By examining the boston massacre and the causes of it‚ It is clear that this was an important part in the revolutionary war. the Boston Massacre was that many of the colonist were upset by the fact that they had to share a house with a british soldier. This was called the quartering act.
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MINI CASE: THE FILURE OF CORPORATE GOVERNANCE AT ENRON 1.Which parts of the corporate governance system‚ internal and external‚ do you believe failed Enron the most? In the evaluation of the Enron’s case; by trying to see the very big picture‚ it is not only about that the internal part of the corporate governance system was failed or but also the external part of the corporate governance system was also failed. As noted on the last paragraph of the mini case‚ many people from different positions
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Fall of Enron The History Enron began as a pipeline company in Houston in 1985. It profited by promising to deliver so many cubic feet to a particular utility or business on a particular day at a market price. That change with the deregulation of electrical power markets‚ a change due in part to lobbying from senior Enron officials. Under the direction of former Chairman Kenneth L. Lay‚ Enron expanded into an energy broker‚ trading electricity and other commodities. The Business of Enron Enron
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The Iranian Revolution‚ or the Islamic Revolution‚ was a popular uprising that transpired in 1979. This revolt was supported by a wide range of people including students and Islamist organizations. The results of this rebellion yielded in the overthrow of the Pahlavi dynasty under Mohammad Reza Shah Pahlavi‚ and the establishment of an Islamic Republic ruled by Ayatollah Ruhollah Khomeini. While many factors helped fuel the Iranian Revolution‚ the central reason why the Iranians overthrew the Shah
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collapsed and disappeared leaving minimal traces and even more scanty detail about what could have caused this disappearance. This knowledge gap has led to a lot of debate among scholars over the various possible reasons behind what seems to us to be the abandonment and desertion of these sites. Some of these explanations are suppositions made without convincing proof. It has been understood widely that the collapse of Late Classic Maya civilization involved more than the disintegration of political
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began to develop in Europe‚ the USA and USSR were unable to reach an agreement on the unification of Korea - they could not agree on what form the government should take‚ the type of economy it should have‚ on the alliances it should make. Liberation from the war did not result in immediate freedom and instead‚ the country was divided by ideological differences caused by the emerging Cold War. World War II divided Korea into a Communist‚ northern half and an Americanoccupied southern half‚ divided
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it was the "Greed Factor" which drives Enron employees to increase the profits through unethical methods‚ and ultimately causing its downfall. But could it be the opposite? I mean‚ could it be that it was Enron ’s culture and Key Performance Indicators (KPIs)‚ which is to increase the profits and share price that "forced" Enron employees behave in an unethical manner? What circumstances caused them to be unethical‚ really? At first‚ the leader of Enron Finance Corp‚ Jeffrey Skilling recruited
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