ethics.
The difficult thing for me personally is that I do not know how I would have reacted in this situation. I would like to think that I would have tried to blow the whistle or at least try to talk with someone in authority about the problem. If this did not work, I would like to think that I would have quit and went someone place else that I believed were more ethical. However, until being in such a situation, I do not know exactly how I would have reacted. I may have bitched and complained with other employees in the lunchroom or over the phone at night. However, would I have gone the extra step? Would I have been brave enough? I am not sure.
How much the Enron situation has changed is debatable. For a while, it appeared that companies were writing up ethical standards and promoting their importance. Whether this was because they really believed that this should be done or that they had to do so (the skeptic in me asks) remains unanswered. I do believe that over the past few years, the number of companies that have been developing these standards have declined after the first flurry. Also, scandals are quickly forgotten as another one comes in to replace the last.
I do feel that certain organizations that know they will be closely watched by the powers to be will mind their manners and not try anything as foolish as what the Enron officials did. However, these companies are a very small minority compared to the hundreds of thousands of businesses of all sizes and shapes that go on about t their business every day. Whether as a whole the majority of organizations changed after the Enron...
Enron Leadership Enron collapsed very quickly in November 2001, and its failure should have been a warning to serious dysfunctions in the entire corporate and financial system, but this did not happen. Its executives admitted that they had falsified its records going back for at least five years, although in reality they had been doing so since the 1980s. When the company filed Chapter 11 bankruptcy it laid off over 20,000
Enron (Movie) analysis The Smartest Guys in the Room-Enron The film is pitched around the America's seventh largest corporation that was in charge of distributing electricity and natural gas. The company was worth over 70 billion dollars in assets built over years with over 22,000 employees, it became bankrupt within 24 days. The employees lost their jobs and medical insurance, 1.2 billion in retirement benefits while the retirees lost 2 billion dollars
If I was a legislator, I will be doing this act and I will not be swayed or affected by friends and lobbyists alike. Response to Ji Woo Chai: Indeed, the Sarbanes-Oxley Act was able to put in place controls and measures to prevent the reoccurrence of the Enron scandal. However, there has to be more done because of what occurred before and during the financial crisis. Thus, there may
Enron could engage in their derivative trading strategy with no fear of government intervention because derivative trading was specifically exempted from government regulation. Due in part to a ruling by the Commodity Futures Trading Commission's (CFTC) chairwoman, Wendy Graham, derivatives remained free of regulatory oversight. Ms. Graham, wife of Texas senator Phil Graham, made this ruling 5 weeks before resigning as chairwoman of the CFTC and joining the Enron Board
THE PEOPLE BEHIND THE RISE AND FALL OF ENRON Kenneth Lay being one of the pioneers of Enron from its establishment in 1986, had lead the way of Enron's emergence as one of the leading company in the U.S. And eventually to its collapse and declaration of bankruptcy on December 2001. Kenneth Lay held the position as the CEO and chairman of Enron from 1986 to January 23, 2002. Lay is
Enron Scandal: Who was Responsible and Why? Background of Enron Scandal and Timeline of Events Key Players in Enron Scandal The Enron Scandal was the biggest accounting fraud in U.S., indeed worldwide, business history. The following paper gives a brief history of the events leading up to the scandal, a timeline for the events surrounding the uncovering of the scandal and the events following the public knowledge of the scandal. Key players in
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