Gerry Spence who was on the defense side fighting for Jeff Skilling and Ken Lay (409). The two businessmen have finally been caught after years of fraudulent actions within one of the largest energy companies‚ Enron. After years of the investigation by the SEC the trial is now taking place in the year of 2006‚ which is roughly 4 years after the bankruptcy of Enron (406). By looking at the Enron scandal and how Kenneth Lay and Jeff Skilling maintained investors while secretly going bankrupt it is
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manipulate the public into believing its greatness. The name Enron is now synonymous with fraud; the reality is that greedy smart people created the tragedy. The film examines the fraud starting with the Enron Oil trading scandal‚ the tenure of CEO Jeff Skilling‚ the mystery of Enron executive Lou Pai‚ the hiring and tenure of Andrew Fastow as CFO‚ the California energy crises‚ and the eventual bankruptcy of Enron. During each of thesemini Enron eras the person who always loomed in the background was Kenneth
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team-oriented environment that many companies attribute to their successes. Decentralization also created strong personal incentive for employees‚ especially with the extravagant bonuses or harsh penalties given based on personal performance. Under Skilling‚ a ruthless and rigorous performance evaluation system relied on peer evaluations to rank department members. In such a competitive environment‚ this type of system can lead employees to rank peers lower than themselves to protect their own job.
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Sample extracts on Taylorism / Scientific Management / Fordism from the prescribed textbook Page 65 Taylorism and Fordism In this section‚ we turn to what others call ‘classical’ work organization – Taylorism and Fordism. They are considered classical partly because they represent the earliest contributions to modern management theory‚ but they are also classical because they iden-tify ideas and issues that keep occurring in contemporary organizational behaviour and management literature‚ although
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dilemma. The first one is business ethics management. “Business ethics management is the direct attempt to formally or informally manage ethical issues or problem through specific policies‚ practices‚ and programmes” (Crane & Matten‚ 2010). Jeffrey Skilling‚ the chief executive in the first half of 2001 who should be the first people knew the problems that exist in the company‚ but he said to public that the stock price would go up whilst he undersold his stocks. The point is he did not think there
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THE BALANCED SCORECARD For Operational Control (evaluating performance and taking corrective action) most companies traditionally relied upon Financial measures of performance ( Return-On-Investment‚ Net Income‚ Total Revenues‚ etc. ( particularly at the strategic company-wide level. The problem with financial measures of performance is that they are: lag indicators of performance • are not operational – that is‚ they do not readily tell the nature of corrective action
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Officer Jeffrey Skilling and Chief Financial Officer Andrew Fastow met all the conventional criteria for good leadership. They all possessed the fundamental nature of leadership‚ which was to influence other people into their beliefs and their values. They had bold market leading vision and were able to create an innovative fast-paced organizational culture that attracted the best and brightest of people. Lay had been described as a pioneering leader and a true visionary‚ Skilling was described as
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What a manager does and how it is done can be categorised by Henri Fayol’s four functions of management: Planning‚ Organising‚ Leading and Controlling. Through these functions managers can be catalysts for change or by definition change agents "People who act as catalysts and manage the change process." (Robbins‚ Bergman‚ Stagg and Coulter‚ 2000‚ p.438) Wether performing the role of the change agent or not‚ change is an integral part of a manager’s job. Change is "An alteration in people‚ structure
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Enron’s ride is quite a phenomenon: from a regional gas pipeline trader to the largest energy trader in the world‚ and then back down the hill into bankruptcy and disgrace. As a matter of fact‚ it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets‚ and 24 days to go bankruptcy. Enron is also one of the most celebrated business ethics cases in the century. There are so many things that went wrong within the organization‚ from all personal (prescriptive and psychological
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JAMES WILLIAMS Year 12 Industrial Technology Timber & Furniture INDUSTRY REPORT [pic] Index Historical background to the industry P. 3-6 Brief history P. 4 Significant developments P. 4-5 Future of industry P. 6 Structural Factors P. 7-10 Specific areas of industry P. 8 Vocational areas P. 8-9 Changes in vocational culture P.10 Technical Factors P. 11-13 Significance of technical factors P.12-13
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