even forced to enter bankruptcy. Enron is one of the biggest examples of when making business ethical decisions go wrong. An American energy‚ commodities‚ and services company based in Houston‚ Texas Enron was a big deal. Employing approximately 20‚000 staff and was being one of the world’s leading electricity‚ natural gas‚ communications‚ and pulp and paper companies. Enron was a company on top on of the reason the fall was so drastic. Since Enron was the largest corporation contributor to
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5 qualities that employees want in a general manager | | By HOTELS Editors on 8/16/2010 | | Author‚ executive and motivational speaker Peter Burwash spends about two-thirds of the year staying in hotels and traveling around the world. Over 35 years‚ he has spoken with thousands of hotel employees‚ discussing what they like and dislike about their general manager and working at the hotel in general. Many of these conversations were an important source of information for his book
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have and will receive the perfect solution right out of the gate. They never get to the gate. Successful practitioners reduce scope to something that’s manageable for the first release and defer the rest for subsequent releases. You won’t be able to do this until everyone understands what’s at stake. Since the scope is constantly changing over time‚ there needs to be a higher-level statement in place to establish the overall charter for the project. This is called a vision statement. A vision statement
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serious not‚ like choosing between what is moral and immoral. These accounts show that throughout life‚ situations arise and one has to think about how they should deal with it to approach a resolution. It might be easier to do what “we want to do” rather than doing what we “ought to do‚” and take “the one less traveled by” as Robert Frost might say. These decisions must be made‚ no matter the size of the problem or the amount of effort. Through history‚ the arrival of choices between right and wrong make
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Paper April 28‚ 2014 Real and Accrual Based Earnings Management 1.1 Introduction The most important item in the financial statements of a company is earnings. Earnings indicate the amount of value-added activities a company has engaged in over a period of time‚ as well as assist in the direction of resource allocation in capital markets. Just as the eyes are the window to the soul‚ earnings are the window to a company’s value. Increasing earnings represent an increasing company value‚ while
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had anything to do with the meltdown at Enron had no ethical standards. Enron had a lack of accounting transparency‚ which enabled the company’s managers to make their financials look much better than they actually were. I believe that Kenneth Lay got rid of several million shares of Enron stock and made over a billion dollars. While the Enron employees lost their jobs‚ the money in their pension funds as well as any money they invested into the company. Not only did Enron damage the lives
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Enron a Case Study Enron‚ once known as the worldwide leader in energy trading‚ began as a natural gas pipeline company. “At its peak‚ Enron brokered up to 20 percent of America’s energy transactions. These included basic contracts to deliver natural gas from wells to pipelines for distribution to homes‚ contracts for the purchase of electrical power facility out port‚ and more complex financial contracts‚ which allowed power companies to manage price and market risk” (Ackman)
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WHAT GENERAL MANAGERS REALLY DO Assessment 1:Essay by Louisa Cindy General managers are top of employee‚ who hold major problems and play a big role behind the organization or business. Being a manager takes a great deal of hard work‚ leadership‚ and dedication. They have responsibilities to take control‚ motivate‚ and monitoring each part of the organization. The pressure of being a manager is not as easy as what people think‚ they tend to be efficient and effective in the same time. In an
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Enron case 1. What activities and practices of Enron’s management team do you believe were unethical and/ or illegal? Concealing debt By using SPEs‚ Enron’s balance sheet understated its liabilities and overstated its equity and earnings. Enron disclosed to its shareholders that it had hedged downside risk in its illiquid investments using special purpose entities which were lies. Enormous spending Extravagant expenses were rampant in the company which included enormous salary expenses
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reported earnings and the reasons behind each way may be different. (1) Report lower earnings. Managers intend to report lower earnings for mainly three reasons. Firstly‚ they want to hide profit for future use. In some years‚ the company presents a strong performance and has earned huge profit; however the manager may worry that the company’s future performance would not be as strong as current year‚ which gives them the incentive to save the profit by reporting a managed lower earning‚ so that
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