Enron, Ethics, and the Law BUS 375 Enron, Ethics, and the Law This paper will explain the history of Enron and were it failed. These failures led to many changes that today’s employees must know about and then be trained to avoid those same mistakes. While this company was based in the United States their failures had a global impact that has caused cultural changes across the world. These changes have caused employee ethics training to be changes across the world. Like everything else in the workplace
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Enron: Questionable Accounting Leads to Collapse Your School Here Your Course Name Here Course Number Here Submission Date Here Your Professor Here Table of Contents Page Answers to Question 1 3 Answers to Question 2 3 Answers to Question 3 4 Conclusion 5 References 7 1. How did the corporate culture of Enron contribute to its bankruptcy? Highly effective
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at Lehman Brothers like? How did this culture contribute to the company’s downfall? Lehman’s culture had a lot of risk taking and employees were paid handsomely. There were individuals making questionable decisions and others were rewarding this behavior. People who questioned the ways of the company or other employees were ignored and their ideas were overruled. This lead to their downfall because employees like Oliver Budde tried to make the public filings correct and nothing was done about it
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responsibility. Explain the role of ethics and social responsibility in developing a strategic plan Corporations have responsibilities to society that should extend past making a profit. You often find corporations are criticized for making unethical decisions because it can be differences in values between business people and key stakeholders. It is common to see that some business people may believe in profit maximization and is the key goal for the company while others have other interests
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Running head: ENRON CORPORATION Enron Corporation (former NYSE ticker symbol ENE) Rosetta Foster Strayer University Business Law I – LEG 100 Dr. Dorothy A. Sliben October 25, 2010 Enron Corporation (former NYSE ticker symbol ENE) The ensuing scandal involving the Enron Corporation, Arthur Andersen, the Bush Administration, the ninety-six banks, et al., clearly shows the abuse of power, when corporations, etc. ultimately thinks and/or feel that it is above the law. The effects are
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Power and influence Introduction In recent years, fraud and other forms of unethical behavior in organizations have received significant attention in the business ethics literature (Uddin and Gillet 2002; Elias 2002; Rockness and Rockness 2005; Robison and Santore 2011), investment circles (Pujas 2003; Albrecht et al. 2011), and regulator communities (Farber 2005; Ferrell and Ferrell 2011). Scandals at Enron, WorldCom, Xerox, Quest, Tyco, HealthSouth, and other companies created a loss
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2001 and 2002, the financial scandals in in the USA and some other countries, such as Australia, dramatically demonstrated how the efficiency of financial markets is based on assumptions of trust and ethical behavior of corporate managers (McPhail 2001). The collapse of companies such as Enron, WorldCom and Global Crossing in the USA, HIH Insurance and OneTel in Australia, and Parmalat in Italy, has led to a loss of confidence by the investing public in the system of financial reporting and accountability
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Business ethics has been in the spotlight because of past corporate scandals such as Enron. Companies in an attempt to prevent such scandals and fraudulent behavior have intertwined ethics with the company’s management and core values. Companies have put in place ethics committees, ethics audits, ethics training, and even designate someone to oversee ethics such an Ethics Officer (Carroll & Buchholtz, 2012). With business ethics being a hot topic, is it wise to employ ex-cons to teach business
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people do not know the difference between something that is considered ethical behavior and something that is considered unethical behavior. According to (Johnson, 2008), strong ethical values also help businesses gain a competitive advantage. This simply means that the company wants to be sure that every employee is behaving in an ethical manner and is refraining from participating in any type of unethical behavior. In order to better understand how important it is to maintain ethical value
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Review of Accounting Ethics Dr. ACC 557: Financial Accounting May 22, 2013 Table of Contents 1.0 Corporate ethical breaches in recent times. 3 2.0 Accounting ethical breaches and their impacts 3 2.1 The Scandal of Enron 3 3.0 Organizational ethical issues and the management failure 5 4.0 Breach of the accounting practices and its impacts 5 5.0 Recommendations by the CFO 6 6.0 References 8 1.0 Corporate ethical breaches in recent times. Ethics is an important aspect of business in today’s
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