corporate scandals of Enron‚ Tyco‚ and WorldCom. Before filing for bankruptcy in 2001‚ Enron Corporation was one of the largest integrated natural gas and electricity companies in the world. It marketed natural gas liquids worldwide and operated one of the largest natural gas transmission systems in the world‚ totaling more than 36‚000 miles. It was also one of the largest independent developers and producers of electricity in the world‚ serving both industrial and emerging markets. Enron began as a pipeline
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In C. Wright Mills’ book‚ The Sociological Imagination‚ he creates a new academic discourse to discuss how society and the individual are intimately connected. The individual and the society in which the individual exists in are interdependent. For a layman’s example‚ a college student is an individual but an individual within a society of higher education‚ there is not one without the other. His sociological theory is referred to as the sociological imagination that allows us as individuals and
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The Sociological Perspective Chapter One Outline I) Sociology is the systematic study of human society. a) Sociological perspective is seeing the general in the particular. i) Sociologist look for the general patterns in the behavior of particular people ii) Emily Durkheim (1858-1917)‚ one of sociology’s pioneers‚ researched suicide. (1) Men‚ Protestants‚ wealthy people‚ and unmarried had the highest suicide rates b) Periods of change or crisis make everyone feel a little
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[Case/Article Name]: The Enron Wars – Vanity Fair | The Watkins Memo | Questions: 1. Why do you think the whistleblowers we’ve encountered have all been women? The first reason I guess is women are more considering about emotions not about objective facts. Maybe a man won’t do anything he thinks it is wrong. He will refuse wrong things immediately. But women judge things by their own standards. For instance‚ if a woman likes the person who tells a woman to do something wrong based
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Business Strategy Enron Case Study 09/08/12 Enron Case Study: From Company to Conspiracy 1. What is the History of Enron‚ and what current situation does it find itself in? Enron was created by a combination of companies. These companies were Houston Natural Gas and InterNorth. These companies were merged together in July 1985. CEO of Houston Natural Gas‚ Kenneth Lay became chairman and CEO of the combined company. This happened in February 1986. The company changed its name to Enron on April 10th
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which we commonly understand our world‚ and see things in a more objective manner‚ making it easier to explain society in an unbiased way (Holmes‚ Hughes & Julian 2003:2). Different theories‚ viewpoints and social facts help us to achieve this understanding of society (Holmes‚ Hughes & Julian 2003:4). The Functional Theory tells us that every different aspect of society has a role to fulfil‚ and that‚ while those roles are being fulfilled‚ society is healthy. Should an individual or institution
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After hearing bits and pieces about the “Enron scandal” over the years‚ it was interesting to learn about what specifically happened to the global giant company and how it reached its demise in the early 2000s. It seems as though Enron’s downfall had largely to do with the corporate culture instilled within the company from its inception in 1984. The idea of “get big fast” encouraged employees to do whatever they deemed necessary to drive earnings‚ even if it meant leaving ethics at the door. The
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life in all societies (Schaefer 15). Conflict theorists are interested in how society’s institutions may help to maintain the privileges of some groups‚ and keep others in a subservient position (Schaefer 15). Another contribution of the conflict theory is how it has encouraged sociologists to view society through the eyes of those segments of the population that rarely influence decision-making (Schaefer 15). The feminist view is also often allied with the conflict perspective because it clearly
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CASE 3 Enron: Questionable Accounting Leads to Collapse Once upon a time‚ there was a gleaming headquarters office tower in Houston‚ with a giant Tilted ―E‖ in front‚ slowly revolving in the Texas sun. Enron‘s suggested to Chinese feng shui practitioner Meihwa Lin a model of instability‚ which was perhaps an omen of things to come. The Enron Corporation‚ which once ranked among the top Fortune 500 companies‚ collapsed in 2001 under a mountain of debt that had been concealed through a complex scheme
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OBJECTIVE: 3 METHODOLOGY 3 THE ENRON STORY: BRIEF 4 HOW AND WHAT TYPE OF FRAUDS WERE COMMITTED? 5 THE ROLE OF STOCK OPTIONS 5 THE USE OF OFF-BALANCE SHEET PARTNERSHIPS 5 Example: LJM 5 Chewco 6 LOBBYING 6 ACCOUNTING PRACTICES 6 DIFFERENT ETHICAL DIMENSIONS 7 SOCIAL DIMENSION 8 AFFECTS ON EMPLOYEES AND SHAREHOLDERS 8 ENRON INDIA 8 AGGRESSIVE NATURE OF ENRON: PERSONAL ETHICS 8 ENRON’S ARROGANCE: PERSONAL ETHICS 9 EXECUTIVES ABANDON ENRON 9 POLITICAL DIMENSION: SYSTEMATIC
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