The Enron scandal‚ revealed in October 2001‚ eventually led to the bankruptcy of the Enron Corporation‚ an American energy company based in Houston‚ Texas‚ and the de facto dissolution of Arthur Andersen‚ which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time‚ Enron was attributed as the biggest audit failure.[1] Enron was formed in 1985 by Kenneth Lay after merging Houston Natural
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WHY A MANAGER SHOULD‚ OR SHOULD NOT‚ BE CONSIDERED Why a Manager Should‚ or Should not‚ be considered a Stakeholder Stakeholders are those groups from whom the organization has voluntarily accepted benefits‚ and to whom the organization has therefore incurred obligations of fairness. Typically‚ this includes groups such as financiers‚ employees‚ customers‚ suppliers and local communities. I believe that managers should not be considered stakeholders. Managers should
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Based in Houston‚ Texas an American energy‚ commodities‚ and services company named ENRON CORPORATION was Ranked number 7 on the fortune 500 list in 2000‚ it was one of the most famous and largest integrated natural gas and electricity companies in the world. The company went bankruptcy on December 2‚ 2001. But before that it marketed natural gas liquids around the world and was working as one of the biggest natural gas transmission systems in the world‚ with transmissions over a massive area of
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opposite extremes of unrelieved repetition and unrelieved alteration."[3] Musicologist Richard Middleton describes form through repetition and difference: difference is the distance moved from a repeat; a repeat being the smallest difference. Difference is quantitative and qualitative; how far different and what type of difference. According to Middleton‚ musical form is "the shape or structure of the work." In many cases‚ form depends on statement and restatement‚ unity and variety‚ and contrast
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Can the U.S. Prevent Future Acts of Domestic Terrorism? A Research Study of Extremist Terrorism and the Role of the U.S. Intelligence Community Pete Dwyer 03/20/2012 Thesis / Research Paper GWU Security & Safety Leadership Abstract of Project While terrorism is not a new phenomenon to the human race‚ the past ten years have ushered in a previously unfamiliar rise in terrorism attacks on U.S. domestic soil. This problem has posed a significant challenge to U.S. national security which
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An Essay: Twenty years from now‚ the world will be a better place to live in People are always looking for new ways to improve their life. Twenty years from now there will be many changes in medicine‚ technology and in environment. Firstly‚ surgeons will be able to replace every part of human body so people will live longer. Secondly‚ there will be some changes in technology. Computers will become much more intelligent and they will be part of our everyday life. Finally‚ there will be also changes
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Every business has stakeholders involved. A stakeholder is anyone who has a claim in some way to a company’s products‚ operations‚ markets‚ industry‚ and outcomes (Ferrell‚ Fraedrich‚ Ferrell 31). Some stakeholders are more involved than others. Members that are needed for the company to maintain are referred to as primary stakeholders‚ whereas others are called secondary stakeholders. Primary stakeholders can be identified as employees‚ customers‚ investors‚ and shareholders and can also be governments
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3. Identify primary and secondary internal and external stakeholders affected‚ describe their stakes in the issue‚ analyze the situation for effect on these stakeholders‚ and describe the issues and impact from the stakeholders’ views. 4. Summarize the primary and secondary ethical issues(s) involved. 5. Describe the organization’s strategy in dealing with this issue(s)‚ critique the strategy/actions taken‚ using facts from the course to defend your critique‚ and briefly state the outcomes
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MINI CASE: THE FILURE OF CORPORATE GOVERNANCE AT ENRON 1.Which parts of the corporate governance system‚ internal and external‚ do you believe failed Enron the most? In the evaluation of the Enron’s case; by trying to see the very big picture‚ it is not only about that the internal part of the corporate governance system was failed or but also the external part of the corporate governance system was also failed. As noted on the last paragraph of the mini case‚ many people from different positions and
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WHAT IS CORPORATE GOVERNANCE? Nowadays people in the business world are talking about good corporate governance. Companies with good corporate governance are perceived by the public as a company that been handled properly by its management. Few companies had been names as among the worst in corporate governance like Enron‚ World.com and Barings. But what is exactly corporate governance? The term ‘corporate governance’ is coming from two words. The adjective ‘corporate’ comes from the noun
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