Enron History Special Purpose Entities (SPEs) were used and often abused by most large corporations in the late 1990’s. Enron was likely the corporation that abused the accounting treatment the most‚ but certainly not the only one. The Enron SPEs were not hidden from the auditors or the investing public‚ but were so extensive‚ invasive‚ and complex that no one‚ including primary architect‚ Andrew Fastow‚ was able to understand the total implications. The 2000 financial statements for Enron included
Premium Enron Andrew Fastow Jeffrey Skilling
Ethical Theories Utilitarianism Utilitarian ethical theories are based on one’s ability to expect the concerns of an deed. Utilitarianism’s creed is that the result of any action takes importance over any type of means‚ this means that Utilitarianisms objective is to help as many individuals as possible even if it were to negatively disturb people along the way so as long as it helped the general populace. Basically‚ it’s the ends that matter not necessarily the means. Rights Rights ethical theory
Premium Morality Human rights Ethics
Teleological ethical theories vs. Deontological ethical theories By: Jesse Coleman There are two theories that have generally been used to analyze ethical questions. They are teleological ethics and deontological ethics. There are similarities and differences between the two that I will explain in more detail‚ but first I will define a few terms that need explaining. The telo in teleological is translated as ends or goals. So in essence teleological ethics are decided by the ends not the actions
Premium Ethics Deontological ethics Morality
corporation‚ large enough to hurt the economy? The Enron scandal is an example of a historical exposure of unethical behaviors within a company and it is also one of the largest corporate scandals in America. Enron started as a gas pipeline company. It soon expanded into the world’s largest and dominant corporation focusing on trading gas‚ electricity and water – the most essential needs of a citizen living in North America. In December of 2001 Enron filed for bankruptcy. The moral concern from
Premium Enron scandal Morality Ethics
organisation’s corporate culture is supposed to be characterised by ethical behaviours for it to make decisions that are more likely to be socially responsible rather than motivated solely by making profits. Organisations that are committed to long term success recognise and realise that creating a culture where ethical behaviours are rewarded and encouraged is the ultimate key to survival and growth. This paper aims at outlining three ethical theories and to evaluate how business ethics have been violated in
Premium Ethics
varies with the customs and the beliefs of the family. Ethical relativism is one of the philosophical theories that assert that the vindication of morality is relative to one’s culture. The fact that whether an action or value is morally upright is dependent on the norm of the society. The action proven as morally upright in one society can be proven as wrong or right with another. This underscores a critical discussion on the theory of ethical relativity according to Pojman. The philosophy
Premium Morality Ethics
Enron: The Smartest Guys in the Room / Lack of Ethics Enron at one time was a Fortune 500 company‚ but in truth it was just a fallacy and a lie for what it truly was‚ an ethically bankrupt company that eventually became a bankrupt company. Henry Taylor‚ a 19th century statesman wrote “Falsehood ceases to be falsehood‚ when the truth is not expected to be spoken”. Enron senior management gets a failing grade on truth and disclosure. The purpose of ethics is to enable recognition of how a particular
Premium Ethics Enron Kenneth Lay
Case: The Fall of Enron Enron was so admired prior until 2000; they grew to a powerful company. In 1985‚ Internorth acquired Houston Natural Gas to form HNG/Internorth‚ a natural gas pipeline company. This company was renamed to Enron. At the time of Enron’s creation‚ the U.S. gas market was in the middle of deregulation. In 1985‚ rules were established that allowed gas users to realize the cost savings by purchasing gas at spot prices and separately contracting with pipeline firms for delivery
Premium Enron
CILM Book Review 0834172 IB3A20 Critical Issues in Law and Management Book Review Enron‚ Titanic and The Perfect Storm - Nancy B. Rapoport Student No: 0834172 Word Count: 1500 1 CILM Book Review 0834172 Two years after Enron filed for bankruptcy in 2001‚ Nancy b. Rapoport wrote this essay expressing her unique perspective on the real cause of Enron’s demise. This essay catches the reader’s attention instantly‚ because unlike abundant other articles written on the biggest
Premium Enron Enron scandal Atomic bombings of Hiroshima and Nagasaki
CASE STUDY. my personal point of view.. 3. IF ALL PUBLICLY TRADED FIRMS ARE OPERATING WITHIN THE SAME BASIC CORPORATE GOVERNANCE SYSTEM AS "ENRON"‚ WHY WOULD SOME PEOPLE BELIEVE THIS WAS AN ISOLATED INCIDENT‚ AND NOT AN EXAMPLE OF MANY FAILURES TO COME? The answer to this question lies within the minds of the Enron Managers rather than with the business environment. Most likely‚ these managers are well-educated and may have come from rich families. If this is so‚ then the logical thing
Premium Thought Mind Psychology