Enrons Scandal Of Corporate America - 1713 Words

Enron had been the darling of corporate America: it was voted its most innovative company, adviser to US Government, a Fortune 500 top ten player, backed by the world’s biggest banks and rated by the top market analysts (Tonge, Greer, Lawton, 2003). While it is shocking to hear about ethical scandals from big corporations, this paper discusses the major reasons and lessons learnt from Enron’s scandal. Enron’s scandal wasn’t caused by few â€Å"bad apples† but the organization’s culture, as set by Enron’s leadership, was the main driving force toward unethical behavior (Kulik, O Fallon Salimath, 2008). However, it didn’t take one party to destroy this great structure; many parties were responsible for it starting with its leadership, then its auditors, and the entire US financial system that consequently learnt the lesson and have made major changes that seem to be effective nevertheless continuous follow up and close monitorin g is still necessary to avoid having another Enron in the future. Factual Background Formed in 1985 from a merger of Houston Natural Gas and Internorth, Enron Corp. was the first nationwide natural gas pipeline network. Over time, the firm’s business focus shifted from the regulated transportation of natural gas to unregulated energy trading markets (Jickling, 2002) which was perceived to be innovative outstanding business strategy that increased profits by about 90 billion over 10 years (Jickling, 2002). Enron leaders were crazy about generatingShow MoreRelatedCorporate Social Responsibility Of The Enron Corporation1124 Words   |  5 Pages We will look at the Enron Corporation and discuss its application of Corporate Social Responsibility (CSR) or in actuality its irresponsible behavior as related to social responsibility. We will revisit what CSR is and discuss Enron’s philosophy regarding its use and function within the corporation. We will discuss the consequences of Enron’s irresponsible behavior and the far reaching effects it had on society. Corporate Social Responsibility are actions taken by a corporation that have positiveRead MoreCorporate Fraud Has Taken The World By Storm For Over The Past Decade1479 Words   |  6 PagesCorporate Fraud Introduction Overview Corporate fraud has taken the world by storm for over the past decade. The biggest fraud cases to ever occur happened in 2001 and 2002 and since then fraud seems to be more and more common around the world. According to Forbes.com (n.d) the biggest fraud cases to ever occur was Enron, Bernard Madoff, Lehman Brothers, and Cendant, with Enron being the largest accounting scandal to ever take place. Prior to Enron’s fraud scandal coming to light in 2001, theyRead MoreEnron : The Conspiracy Of Fools Essay1650 Words   |  7 Pages Enron was followed by other accounting scandals such as WorldCom, Tyco, Freddie Mac, and HealthSouth, yet Enron will always be remembered as one of the worst corporate accounting scandals of all time. Enron’s collapse was brought upon by the greed of its corporate hierarchy and how it preyed upon its faithful stockholders and employees who invested so much of their time and money into the company. Enron seemed to portray that the goal of corporate America was to drive up stock prices and get toRead MoreEssay on Enron: Questionable Accounting Leads to Collapse784 Words   |  4 Pages I worked for Hallmark Cards when the Enron scandal broke and Arthur Anderson had a consulting team working with Hallmark. Shortly after, Hallmark cut their ties with that accounting firm even though the Arthur Anderson team was doing a great job in Kansas City. From a personal standpoint, the lesson to learn is that one must act ethically and report any discovered unethical behavior. From a society standpoint, it is clear that corporate America cannot be trusted to â€Å"police† itself. Even todayRead MoreEnron Scandal Reaction1483 Words   |  6 PagesAssignment The documentary film, Enron: The Smartest Guys in the Room It is a story about the greed in corporate America  that is always exposed after the fact. The  film examines the 2001 collapse of Enron.  At the time of the collapse, Enron  was the largest bankruptcy in history. The Enron story is one of money  and politics, which are two areas that embody the culture of big business in America. The film does a great job  of illustrating the laissez-faire culture that allowed Enron to rise to  prominenceRead MoreCase: 9 Enron928 Words   |  4 PagesCase 9: Enron; Questionable Accounting Leads to Collapse Bruce Smith Minnesota School of Business BS430 Business Ethics MR. Morris November 25, 2012 1. 2. 1. How did the corporate culture of Enron contribute to its bankruptcy? Effective leaders are good at getting followers to their common goals or objectives in the most effective and efficient way; unfortunately for Enron, in the end Ken Lay and Jeffery skilling were too focused on profits that nothing else mattered. In theRead MoreManagement Organization1074 Words   |  5 Pagesemployees to work at his or her fullest potential. This paper will discuss Enron, and the business failure that occurred. At one time, Enron was one of the largest energy providers in America, based out of Houston, Texas. This paper will explain how specific organizational behavior theories could have predicted Enron’s failure. Also provide a comparison and contrast how leadership management and organizational structures contributed to the failure. Enron History Enron was founded in 1985 by KennethRead MoreLessons Learned from Enrons Failure957 Words   |  4 PagesThe well-established company Enron, which was once ranked by Fortune as â€Å"the most innovative company in America† faced bankruptcy and thus the downfall of Enron. One of the causes of Enron’s failure is that there is a weak corporate governance of board of directors. Their lack of social responsibility from the 4 main criteria identified by Archie Carroll, which is economic, legal, ethical and discretionary responsibilities. They only want to make profits without taxes and move up, leaving all theRead MoreEnron And The Enron Scandal1387 Words   |  6 Pagespeople about the Enron scandal today, most of them have not even heard of it. The fact of the matter is, it is very relevant to young professionals today. Enron is the most recent story of classic Wall Street greed and fraud. However it is still argued today by different stakeholders who are is responsible. This essay will take the viewpoint from multiple stakeholders to use the Enron Scandal as an example to further explain American corporate corruption. To analyze this scandal, we first need to knowRead MoreFailure Of Responsible Management : Enron Corporation1645 Words   |  7 Pagesmanagement In the end of 2001, Enron scandal has been disclosure, Enron stock prices slumped, and its financial tricks was exposed. The Securities and Exchange Commission (SEC) began survey of company s records. Enron’s auditor ‘Arthur Andersen ‘destroys relevant documents. (Ailon, G. 2011) Enron was bankruptcy in December 2001, and became the largest bankruptcy case in American history. It was a long-term influence on media and stock market that ‘shocked America’ (JE. Stiglitz, 2003). There are many

Christopher Columbus Discovered The New World - 851 Words

In 1492, Christopher Columbus discovered the â€Å"New World.† After his discovery many other explorers and missionaries from Europe explored, and eventually settled in America. By 1700 the Anglo population in the English colonies in America reached two hundred and fifty thousand (Carlisle and Golson, 2006, p.233). This was the first time European settlers came into contact with American indigenous people. Europeans were shocked and confused when observing the Native Americans. In Europe at this time, women were only thought of as mothers who spent their days cooking, cleaning, and taking care of the children. Native American women however were builders, craftswomen, healers, warriors, farmers, as well as mothers. Intermarriage between Native American women and male settlers, traders, and explorers also took place combining their cultures, beliefs, and biology, making women work as a culture-bonding mediator in American history. Intermarriage between Native American women and European men was common because very few of the European arrivals were women. Gender roles were very different in Native America way of life compared to Europe, especially the roles and responsibilities of the women. Intermarriage between Europeans and Native Americans became increasingly common as more Europeans arrived, especially between Natives and Europeans involved in the fur trade. Calloway (2013) wrote: Like the voyageurs of the Canadian fur trade, trappers and traders who traveled, lived, andShow MoreRelatedAnalysis Of Christopher Columbus Discovered The New World And Europeans Conquered The Native Lands With Little Resistance1208 Words   |  5 Pagesâ€Å"Christopher Columbus discovered the ‘New World’ and Europeans conquered the native lands with little resistance due to their superior weaponry.† These stories have been at the heart of the American education system for as long as American history existed. But this type of Eurocentric view does not provide the entire narrative for the events that occurred during the colonial era in the Greater Caribbean. Between Britain’s esteemed navy, France’s leadership, and Spain’s army, who would’ve guessedRead MoreThe Discovery Of The New World1178 Words   |  5 PagesAmerica, the third largest country in the world, is a place that most people desire to live in. It is filled with fifty stat es and each with plentiful opportunities spread amongst it. America is considered the land of opportunity because it gives opportunities to immigrants that their country cannot provide them with such as: economic stability and educational resources. America is also known today as the melting pot because so many cultures have mixed together in one country to enjoy the sameRead MoreEssay on Christpher Columbus, an Explorer1166 Words   |  5 PagesIn this essay I am going to talk about one of the most important men in history. He was so important that without him the world would not be what it is now and throughout history his discoveries have inspired others to become fierce adventurers of the sea. Columbus had one of the brightest ideas of the time, he had the idea that he could reach China by sailing west from Europe. This idea meant that there would be a westward passage from Spain to west across the ocean to China in a cheap and easyRead MoreChristopher Columbus Seeking a Royal Sponsorship896 Words   |  4 Pagesâ€Å"Christopher Columbus Seeking a Royal Sponsorship† Christopher Columbus was born in Genoa, Italy in fourteen fifty one. His father was a merchant that traded wine and other things, and there is where Christopher Columbus worked. They were considered to be the lower middle class back in this time. This town was almost surrounded entirely by sea, and there were a lot of sailors. Christopher Columbus grew tired of working on land and became fascinated by the ocean and sailing, so when he becameRead MoreChristopher Columbus : The Greatest Failure995 Words   |  4 Pagesperfect. Every great man has had or has enemies. Christopher Columbus was this man. It is Christopher Columbus that sailed around the world and accidently discovered the â€Å"New World† in 1492 according to an article by frontpagemag.com. This was no ordinary man, Christopher was brave and willing to take risks. Keep in mind Christopher Columbus was living in a world where â€Å"a lot of ordinary people thought the world was flat (Almasy, CNN). Christopher may not have been the first person to discover theRead MoreEssay on Christopher Columbus? Or Not Christopher Columbus?1329 Words   |  6 Pages On Columbus Day students across the nation will learn how Columbus discovered the New World and about his fantastic travels to the New World. Children will learn poems, stories, songs and rhymes about his travels and about himself as well on this day. When introduced to Columbus as a young student he is portrayed as a respectful gentleman and as a hero, when in reality he is a selfish man who takes advantage of lesser people and schools should be teaching their students about who Columbus reallyRead MoreThe Christopher Columbus741 Words   |  3 Pages Little may one know about Christopher Columbus, other than the fact that â€Å"Columbus sailed the ocean blue in 1492†. Even though he was claimed to have discovered the Americas, he was never the first to arrive there because (according to historians) the Vikings were there first. But, his discovery led other people in Europe know about the Americas therefore changing the world. Columbus shaped the world as we know it today. Columbus was born around 1451 in the republic of Genoa (what today wouldRead MoreWho Really Discovered America Essay1225 Words   |  5 PagesPaper Who discovered America? By: Deanne Mastrocola Why is it that American culture today attributes its geographic discovery to a man named Christopher Columbus? Could it be that he was the first European to claim this land as part of an Imperialistic expansion or is it merely out of convenience for the history books? It is known that the American continent was populated by 1000 AD which is long before settlements by Viking fisherman and even longer before the arrival of Columbus. In spiteRead MoreThe Overdue Abolishment Of Columbus Day1559 Words   |  7 Pagesna Manley November 8th, 2015 Writing 121 The overdue abolishment of Columbus Day Christopher Columbus may have first left his mark on the Americas in the 15th century, but the United States didn’t establish a federal holiday in his honor until 1937 (Dan Fitcher). Commissioned by Spanish king Ferdinand and Queen Isabella to explore Asia, Columbus instead sailed to the new world in 1492 (Dan Fitcher). He first come ashore in the Bahamas later making his way to Cuba and the island of Hispaniola (nowRead MoreEssay on The Debate about Honoring Christopher Columbus512 Words   |  3 Pagesare taught of the great explorer who discovered America, Christopher Columbus. Tales of his many voyages and the names of his ships the Nina, Pinta, and Santa Maria are engrained into the minds of children through rhyme and song. For many years the history written in text books have been regard as fact however information provided by Howard Zinn excerpt has shed new light on the shadowy past of Christopher Columbus. In recent history, Christopher Columbus has been regarded as a great explorer

Close analysis of beginning of chapter III in The Great Gatsby Essay Example For Students

Close analysis of beginning of chapter III in The Great Gatsby Essay In this passage, Nick, the narrator, sees the exhibition of wealth at his neighbours house intensify. He has not personally met the elusive Gatsby previously, having only seen him reaching out to the green light on Daisys dock, but he can see the spectacle of Gatsbys mansion, inflated here in preparation for a party. Fitzgerald uses lavish images and detailed description to introduce to the reader the extravagance of Gatsbys parties, which are representative of the excessive indulgence of the high society of the time. The chapter begins, There was music in my neighbours house through the summer nights, which immediately informs the reader that parties were a regular occurrence, alluding to the indulgence of the host. It is clear that Gatsbys parties involve drinking on a grand scale, so they were in themselves unlawful at this time of prohibition. The five crates of oranges and lemons that arrived every Friday are like Gatsbys guests who left after expending all energy through partying; every Monday left his back door in a pyramid of pulpless halves. The masses of oranges and lemons and constant references to gins and liquors and cocktails permeate the garden provide an explanation for the chaotic and destructive behaviour and later in the chapter the inebriation of the guests is revealed. The extravagance relating to alcohol consumption is great; there is even a bar with a real brass rail set up. Drink figures again later in a metaphorical manner; laughter is easier minute by minute, spilled with prodigality, tipped out at a cheerful word. This emphasises the reliance these people had on alcohol and the frivolity of the situation. Fitzgerald describes the bar as being in full swing and Fitzgerald personifies the air saying it is alive with the onomatopoeic chatter and laughter A major characteristic of the affluent in the 1920s was their carelessness, a trait of a number of people in the novel, including the Buchannans and Jordan Baker as well as the party guests. The language used in the passage highlights this attribute for example, the casual innuendo and introductions forgotten on the spot, and enthusiastic meetings between women who never knew each others names. The guests who came and went all have an air of anonymity; Fitzgerald presents them as faceless. Fitzgerald writes, In his blue gardens men and girls came and went like moths among the whisperings and the champagne and the stars. Fitzgerald compares Gatsbys guests the high society of New York and the surrounding area who exploit Gatsbys great generosity to moths, in this simile, which presents the guests as selfish, hedonistic people, mindlessly drawn to the splendour of the parties, as moths are to light. There is also a self-destructive implication in comparing the guests to moths who fly into flames to their death. The use of the onomatopoeic word, whisperings assists in the building up of atmosphere in the scene, conjuring thoughts of illicit conversations, thus adding to the mystery surrounding Gatsby. That the guests mingle among the champagne and the stars, adds to the glamour and luxury of the scene; the materialistic culture where overindulgence was common practice is portrayed here. Fitzgerald asserts the lack of respect the guests have for Gatsby and his property in saying, on Mondays eight servants, including an extra gardener, toiled all day with mops and scrubbing-brushes and hammers and garden-shears, repairing the ravages of the night before. The long sentence with the repeated use of the word and, and the use of metonyms, emphasises the extent of the damage caused. In addition, Fitzgeralds diction alludes to the destructive behaviour of the guests with the use of the word ravages. .ub83a170817340d0ef32c419482e5e8b8 , .ub83a170817340d0ef32c419482e5e8b8 .postImageUrl , .ub83a170817340d0ef32c419482e5e8b8 .centered-text-area { min-height: 80px; position: relative; } .ub83a170817340d0ef32c419482e5e8b8 , .ub83a170817340d0ef32c419482e5e8b8:hover , .ub83a170817340d0ef32c419482e5e8b8:visited , .ub83a170817340d0ef32c419482e5e8b8:active { border:0!important; } .ub83a170817340d0ef32c419482e5e8b8 .clearfix:after { content: ""; display: table; clear: both; } .ub83a170817340d0ef32c419482e5e8b8 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub83a170817340d0ef32c419482e5e8b8:active , .ub83a170817340d0ef32c419482e5e8b8:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub83a170817340d0ef32c419482e5e8b8 .centered-text-area { width: 100%; position: relative ; } .ub83a170817340d0ef32c419482e5e8b8 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub83a170817340d0ef32c419482e5e8b8 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub83a170817340d0ef32c419482e5e8b8 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub83a170817340d0ef32c419482e5e8b8:hover .ctaButton { background-color: #34495E!important; } .ub83a170817340d0ef32c419482e5e8b8 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub83a170817340d0ef32c419482e5e8b8 .ub83a170817340d0ef32c419482e5e8b8-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub83a170817340d0ef32c419482e5e8b8:after { content: ""; display: block; clear: both; } READ: Julius Ceaser: Brutus Character Analysis EssayAt the beginning of Chapter II, Fitzgerald introduced the reader to the valley of ashes, inhabited by the despondent Wilsons, where predominantly the landscape was grey. He referred to the grey cars and the ash grey men, evoking very negative responses and hinting at the misery of the residents. By contrast, the vibrant colour used throughout this passage represents the decadence of the elite, illustrating the scene of affluence, from the blue gardens and enough coloured lights to make a Christmas tree of Gatsbys garden to the gaudy primary colours. There is a somewhat magical sense to the affair, even the hors-doeuvres are glistening and the salads are of harlequin designs. Similarly, the turkeys bewitched to a dark gold imply great wealth and maintain the aura of mystery surrounding Gatsby; every component is ostentatious and extravagant. Throughout the passage, Fitzgerald insinuates there is something sinister or immoral about Gatsbys guests; by comparing Gatsbys car, which ferries them to and from the parties, to a parasitic brisk yellow bug, he instils a negative view in the reader. After writing of the food and drink at the parties, the pace quickens when Fitzgerald resumes the present tense, giving a sense of immediacy. The description remains visual with the brilliant colours and description of the lights that grow brighter as the earth lurches away from the sun. This image implies a sudden change as the day ends and the guests lurch into party mode, with an additional connotation of reckless, drunken behaviour. The light is then described as constantly changing, which parallels the action of the guests whose groups change more swiftly, swell with new arrivals, dissolve and form in the same breath. The atmosphere approaches a climax in the final paragraph where there is a sense of urgency when suddenly one of these gypsies, in trembling opal dances out alone on the canvas platform under a momentary hush. Finally, there is a burst of chatter as rumours circulate that she may be a celebrity before Fitzgerald simply states that, the party has begun.