Essay about The Downfall of Enron - 1734 Words

Ethical behavior, in a general sense, is a definition of moral behavior in regards to lawfulness, societal standards, and things of that nature. In the business world, ethics commonly refer to acceptable and unacceptable business practices within the workplace, and all other related environments. The acceptance of colleges regardless of ethnicity, gender, and beliefs, as well as truthfulness and honesty in relation to finances within the company are examples of ideal ethical business conducts. Unethical business behavior would include manipulating procedures based on bias or discrimination, engaging in activities that promote political gain, as well as blatant fabrication of monetary factors within the company and â€Å"can affect†¦show more content†¦In 1985, Houston Natural Gas and InterNorth, a natural gas pipeline company, merged, and Lay became CEO of both houses. In 1986, after many changes and more growth, the firm changes its name to Enron and relocated to Layâ€⠄¢s hometown of Houston, Texas. At this time Enron was both a natural gas and oil company. The company specialized in the moving of natural gas through its pipelines, extending thousands of miles across the continental United States. As the firm continued to flourish, it reformed its commercial approach by becoming a leading producer and distributer of energy in both the United States and the U.K., as well as becoming more involved in the trading market. Ambition and determination truly carried Enron to new heights, helping it to become one of the most powerful and innovative companies in the United States, even being â€Å"voted Most Innovative among FORTUNES Most Admired Companies† for â€Å"six years running† (Helyar). However, with much success, temptation arose, and good intentions were led astray. Damaging arrogance, risky behavior, and deception ultimately warranted the demise of the mighty Enron. Enron was often praised for pioneering a more libertarian view, an influence often accredited to a man by the name of Jeffery Skilling. Being the CEO of an Enron secondary company, â€Å"Enron Finance† (Probert), Skilling possessed the ability to directly influence the very structure of the naturalShow MoreRelatedThe Downfall of Enron1573 Words   |  6 Pagesï » ¿Enron: The fallout from the accounting scandal Determine the primary factors that contributed to the downfall of Enrons financial practices Corporate managers are expected to maximize investor returns while complying with regulatory standards, avoiding principal-agent conflicts of interest, and enhancing the reputational capital of their firms (Patrick Shearer 2002). Before its demise, the energy company Enron was envied for its burgeoning balance sheets. However, gradually it emerged thatRead MoreThe Downfalls Of Enron, By Han, Henry959 Words   |  4 PagesThe key factors or critical issues presented in the case are the downfalls of Enron, which originated out of Houston Texas by Han, Henry(n.d.). He was one of the highest paid Chief Executive Officers in 1999. This organization was aware of the first gas pipeline company that implied known worldwide. The company covers the world’s leading electricity innovations, personnel management, and risk management processes. Also, further studies the company s dramatic failed complex issues that the forcedRead MoreEnron And Its Impact On Enron s Downfall Essay1492 Word s   |  6 PagesAbstract recent collapses of high profile business failures like Enron,Worldcom,Parmlat,and Tycohasbeen a subject of great debate among regulators, investors, government and academics in the recent past. 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The1400 Words   |  6 PagesJaclyn Givens Kathy Osburn Management 101 5/8/17 The Enron Era â€Å"Just as character matters in people, it matters in organizations,† says Justin Schultz, a corporate psychologist in Denver. The Enron scandal had a big exposure in 2001 confirming the big secret to the increase in billions. In July 1985, Enron formed the merger of Houston Natural Gas and Omaha-based Inter North. The Enron corporation was an American energy company based in Houston Texas. The corporation’s catastrophe in 2001 signifiesRead MoreEnron : The Leading Factor That Had Enron Into Its Demise Essay1608 Words   |  7 PagesThe leading factor that had Enron into its demise revolves around the notion that, â€Å"companies are often so concerned with appearance and damage control that they are unwilling to engage in the degree of examination required to root out the entrenched causes of trust violations† (Hurley, Gillespie, Ferrin Dietz, 2013). The historical performance of Enron’s rising share prices, coupled to the constant positive media at tentions, only added fuel to the fire in terms of Enron’s competitive culture.Read More Deception, Fraud, and the Collapse of Enron Essay1394 Words   |  6 Pagesand the Collapse of Enron Introduction From America’s 7th most valuable company in December 2000, to a company in ruins by early 2002, Enron has been involved in one of the most incredible reverses of fortune ever. With shares riding high on Wall Street at $84.87 on the 28th December 2000, and awards such as â€Å"America’s most innovative company† from Fortune Magazine 6 years running, and â€Å"Energy Company of the Year† from the Financial Times also in 2000, it looked as though Enron were promising to