devastating collapse. VOICE: Enron is a corporate Chernobyl. VOICE: You had the entire system playing fast and loose. VOICE: It is not just Enron‚ it’s an industry problem. LYNN TURNER‚ SEC Chief Accountant (1998-2001): It is real‚ real damage to the country. ANNOUNCER: Why didn’t anyone sound an alarm? VOICE: The watchdogs work for executives and Wall Street. They don’t work to protect shareholders. ANNOUNCER: Correspondent Hedrick Smith investigates how greed and politics undercut America’s financial
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Chapter: 3‚ Foundations of Decision Making The Downfall of Lehman Brothers The Downfall of Lehman Brothers Poor Decision making is a factor that can lead to bankruptcy and failure. Lehman Brothers Holdings Inc.‚ a major U.S investment bank‚ is an example of bad decision making because of their poor judgment‚ they have filed a Chapter 11 bankruptcy protection on September 15‚ 2008. A Chapter 11 bankruptcy protection is when a company‚ in this case Lehman Brother Holdings Inc. ‚ reports
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Power and Politics Definition and Meaning of Power Distinctions between Power‚ Authority and Influence Bases of Power Coercive Power Reward Power Legitimate Power Expert Power Referent Power The Dependency Factor Importance‚Scarcity‚Non-Substitutability Contingency Approaches to Power Interdependence and Influencability Overall Contingency Model for Power Power in Groups: Coalitions Organizational Politics Definition and Nature of Politics Factors Relating to Political Behavior
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Effects of the Enron Scandal (Kassie) The Enron scandal had a great effect on the United States‚ with an impact on individuals from the consumer level to those running the company as well as the stock market and investors. Throughout the scandal‚ 4‚500 employees lost their jobs and investors lost approximately $60 billion dollars within a few days. The loss of such a large sum of money meant the loss of old-age and retirement security for many of the investors who put their money and faith in the
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The Politics of Backstabbing John C. Student Strayer University Instructor Kenneth Elliott Principles of Organizational Behavior – BUS 105 March 7‚ 2010 Introduction Legitimate political behavior applies to normal everyday politics‚ as illegitimate political behavior applies to extreme political behavior that violates the implied rules of the game. Betrayal in an organization also known as backstabbing. It’s an act of breaking or violation of trust that creates moral and psychological
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Enron and WorldCom Case Study This report is based on the demise of Enron Corporation and WorldCom. Both the firms are demised due to the ethical lapses. These ethical lapses come into existence when managements of the firm‚ uses unethical practices to accomplish the goals of the firm. Maintaining financial and accounting standards in the business practices are necessary. The profession of accounting has become a mockery due to the accounting scandals that took place all over the world in the
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Lead Poisoning One out of every six children under the age of six are suffering from health disorders due to the poisonous metal‚ lead. Lead is a natural occurring bluish-gray metal found in the earth’s crust. It has no taste or smell. Lead can easily be found in all parts of our environment today. Most of it comes from mining‚ manufacturing‚ and the burning of fossil fuels. In the United States lead poison has increased because of the lack of knowledge in our society. Lead is released into the
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Religion and Politics Historically‚ religion and politics have always played a very significant part in our everyday lives‚ dating back to the ancient pharaohs of Africa to our modern day society‚ religion have had a profound effect on our existence as a society. For a good example of how religion affects politics in our modern world we need not look very far but in our own backyard. The influence of Catholicism on Latin American politics‚ and the role religion plays on Middle Eastern
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Power and Politics Introduction Power is important within organizations because power is the way in which management influences individuals to make things happen. When power and influence combine most of the time‚ "politics" becomes involved in some manner which may pose some problems. Organizational politics is best described as management influenced by self-interest through the use of means not necessarily authorized by the organization. Organizational politics have been viewed as an organizations
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Shakespeare and Film July 11th‚ 2012 Othello’s Downfall Iago is the primary cause of Othello’s downfall. After reading this tragedy and seeing how manipulative‚ evil‚ and deceptive Iago was throughout the plot‚ this statement seems logical. But upon closer analysis‚ it is obvious that many other factors contributed to the downfall of Othello‚ and Iago was just one that stands out. Although Iago appears to be the primary reason for Othello’s downfall‚ it is actually a combination of Othello putting
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