The Enron scandal • Enron, the 7th largest U.S. Company in 2001, filed for bankruptcy in December 2001. • Enron investors and retirees were left with worthless stock. • Enron was charged with securities fraud (fraudulent manipulation of publicly reported financial results, lying to SEC…) • Enron was a Houston-based natural gas pipeline company formed by merger in 1985. • By early 2001, Enron had morphed into the 7th largest U.S. Company, and the largest U.S. buyer/seller of natural
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plants than when they are not engaging in business. To decide if an ethical decision is being made, it is best to base a decision on the ethical decision-making process. This process has three steps, moral awareness, moral judgment, and ethical behavior. These three
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Running Head: PROFESSIONAL VALUES AND ETHICS Professional Values and Ethics University of Phoenix Gen/200 Foundations for General Education and Professional Success Instructor: Christopher Mott Professional Values and Ethics Values and ethics are extremely profound attributes, and very significant when instilled within a person of determination. In knowing the desire and need to be successful, the driven nature within can empower energy, magnified by the continued success of one’s
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How personal can ethics get? Leadership and organizational behavior Discuss how personal differences and preferences can impact organizational ethics? Ethics is a personal decision that is lived with on a daily bases. Who we are on a daily basis, as well as the reasons for which we make our decisions are within us and stay within us until we make a conscious decision to change that behavior. The way we individually view our own ethics is going to directly affect not only those around
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Effects of Unethical and Irrational Decision Making at Enron DePaul University Managers and employees are often faced with ethical problems. The decisions that are made in regards to handling those problems can define an individual's career and determine the ultimate fate of their organization. In this discussion, examples of decisions that were made by Enron employees will be discussed that will exemplify this point. The first decision that will be discussed is the
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the crew. As an individual on board that crew, I knew that all members were extremely competent in their roles, were compassionate in their views toward each other and me, and had shown continuous congruency in every aspect of their actions and behaviors. This was the key to having the entire crew engaged and “on
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unethical accounting * Leaders of Enron * Kenneth Founder, Chairman, and the CEO from 1985 until his resignation in 2002 * Jeffery Skilling, former president and board member from 1997 to August 2001, when he resigned from Enron * Andrew Fastow, COO, fired because of LJM transactions & his excessive compensation from those transactions * Company Background : Essentially called Enteron but then the name was quickly abbreviated to Enron. Industry: Energy Founded in
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awarded /100 /100 T213 U22712 Assignment September 2013 QUESTION (TASK 1 weighting factor: 40% of total CW marks) Enron: What Caused the Ethical Collapse? Kenneth Lay, former chairman and chief executive officer (CEO) of Enron Corp., in an introductory statement to the revised Enron Code of Ethics issued in July 2000, wrote: “As officers and employees of Enron Corp., its subsidiaries, and its affiliated companies, we are responsible for conducting the business affairs of the companies
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contemporary definition of organizational culture includes what is valued, the dominant leadership style, the language and symbols, the procedures and routines, and the definitions of success that characterizes an organization. Organisational Culture represents the values, underlying assumptions, expectations, collective memories, and definitions present in an organization (Schein, 1992; Cameron & Quinn, 1999). Cameron and Quinn (1999) have developed an organizational culture framework built upon
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answers to these questions are debatable, the infamous Enron Corporation shows us that while the people make up the company, the company as a whole receives the reputation of being immoral or unethical. We consider Kenneth L. Lay and Jeffery Skilling, the former president and CEO of Enron, the driving forces behind Enron’s bogus success and responsible for the moral code that should have been set for the organization. These unethical actions Enron took part in even had support by auditor, Arthur Anderson
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