Enron: The Smartest Guys in the Room is a 2005 documentary film based on the best-selling 2003 book of the same name by Fortune reporters Bethany McLean and Peter Elkind‚ a study of one of the largest business scandals in American history. McLean and Elkind are credited as writers of the film alongside the director‚ Alex Gibney. The film examines the 2001 collapse of the Enron Corporation‚ which resulted in criminal trials for several of the company’s top executives; it also shows the involvement
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have made adjustments in effort to better prevent the unethical practices. The company‚ Enron‚ was a leading reason for some of the changes because it was one of the largest scandals and fastest collapse of an entire corporation. Most individuals that were involved in the fall of Enron have been tried and convicted for their unethical business research conduct. The article‚ “The Case Analysis of the Scandal of Enron” by Li Yuhao‚ describes the unethical behavior involved‚ the injured parties‚ the affect
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References: Benston‚ George J. (November 6‚ 2003). "The Quality of Corporate Financial Statements and Their Auditors before and after Enron". Policy Analysis (Washington D.C.: Cato Institute) (497): 12 Cruz Jose‚ Frey William‚ (2010). Building an Ethics Module for Business‚ Science‚ and Engineering Students. Healy‚ Paul M.; Palepu‚ Krishna G (Spring 2003). "The Fall of Enron". Journal of Economic Perspectives 17 (2): 3 Holmes‚ Charles (2008) "Business ethics – Part One: Does it matter?” Industrial
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This paper will focus on Enron Corporation‚ a firm which faced one of the largest fraud scandals ever witnessed in history. The role of ethical and corporate responsibilities by companies on stakeholders will be analyzed with regard to this company and appropriate recommendations made at the end of the paper. History of Enron Enron Corporation was founded in 1985 after two natural gas companies‚ Internorth
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Unethical Business Practices at Enron LDR/531 Organizational Leadership August 11‚ 2011 Unethical Business Practices at Enron Enron Corporation came into existance in 1985 as the result of a merger between InterNorth and Houston Natural Gas. This merger produced the longest natural-gas pipeline network in the United States. Under the leadership of Chief Executive Officer Jeffery Skilling‚ Enron changed from a gas-pipeline business into a natural-gas and electricity company during the
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The Enron Scandal can not be simply regarded as the normal bankruptcy; not because it is the seventh largest corporation in America‚ or the large amount shareholders and investors lose massive money. The reason is that the unethical practices of Enron threaten people’s fundamental trust in economic system. Meanwhile‚ the unethical management practices at Enron‚ which are against the ethical principles of the Global Business Standard Codex result in the collapse of the company‚ and bring the massive
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1. Describe the situation at Lehman Brothers from an ethics perspective. What’s your opinion of what happened here? To attribute Lehman’s failure to “unprecedented adverse events in the financial markets” completely overlooks the irresponsible ethical behavior of employees and managers. Students should mention the culture of corruption that existed at Lehman’s and the lack of controls that ultimately resulted in their downfall. An interesting finding was the acceptance of a rule‚ Repo 105‚ that
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general public as well as generate continued interest in what actually happened. The Fall of Enron In a way‚ Enron went bankrupt for the same general reason that all companies go bankrupt: they invested in projects that proved too risky and‚ in turn‚ they were unable to keep up with the debt obligations of the firm (Niskanen‚ 2005‚ p. 2). This does little‚ however‚ to explain the specific reasons why Enron became the largest company to file for bankruptcy in U.S. history. Although many will point
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This is not a political documentary. It is a crime story. No matter what your politics‚ "Enron: The Smartest Guys in the Room" will make you mad. It tells the story of how Enron rose to become the seventh largest corporation in America with what was essentially a Ponzi scheme‚ and in its last days looted the retirement funds of its employees to buy a little more time. There is a general impression that Enron was a good corporation that went bad. The movie argues that it was a con game almost from
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Nobody Won Abstract When the Arthur Andersen LLP/Enron scandal surfaced in 2001‚ there was much confusion as to whom committed what crime and how many employees were actually involved. After the facts and criminal charges were final‚ the sequence of events makes sense; the union of two companies‚ the rise of the participating executives‚ and finally the end of the money ride. The leaders of both companies used dishonesty to make an abundant amount of
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