Tuesday, December 31, 2019

4 Ethical Issues with Enron Essay - 1005 Words

There was a vast number of ethical issues raised in the movie â€Å"Enron-the Smartest Guys in the Room† but the four I am going to focus on are listed below. Art Anderson, Ken Lay and all of the other executives did a number of unethical things which ultimately brought down Enron and affected thousands of employees and their futures. The bottom line was that each and every one of them acted out of greed for the almighty dollar. 1- Encouraging employees to invest and buy stock in Enron when they knew the truth about the lack of value in the stock. As an employee you trust in your management to make the best choices both for you and for the business to succeed. Ken Lay and other executives strongly encouraged Enron employees to invest in†¦show more content†¦One Merrill Lynch analyst began to question the numbers and profits that were being produced by Enron and eventually he was fired. Enron invested a lot of money with Merrill Lynch and they didn’t want Enron to stop investing so Merrill Lynch got rid of the employee who question Enron, when in reality they should have listened to him. Merrill Lynch’s decision not to listen to him showed other employees that they better keep quiet with their opinions or their jobs would be on the line. If they listened to him they might have lost the deal with Enron, but in the end they lost it anyway and lost millions along with it. Merrill Lynch’s main focus should have been their employees and their investors, not solely Enron. They should have stuck to their code of conduct and followed their values. 3- Manipulated earnings. Enron executives and accountants cooked the books and lied about the financial state of the company. They manipulated the earnings and booked revenue that never came in. This was encouraged by Ken Lay as long as the company was making money. Once word got out that they were disclosing this information, their stock plummeted from $90 to $0.26 causing the corporation to file for bankruptcy. This deception on behalf of the executives and others in the organization who hid this vastly affected anyone who had stock in Enron as well as stock in other energy corporations. TheShow MoreRelatedCorporate Fraud, Greed, Corruption, And Ethics1598 Words   |  7 Pages Introduction Corporate fraud, greed, corruption, what company comes to mind when you hear those words? Enron! In this paper we will take a look into the corporate facts and history as well as, stakeholder relationships, organizational trust issues, ethical leadership and ethical culture at Enron. As well as where improvements could have been made to improve organizational trust and ethical culture before Enron’s collapse. II. Corporate Facts and History According to the Texas State HistoricalRead MoreEnrons Ethical Dilemma1118 Words   |  4 Pagesï » ¿Enrons Ethical Dilemma: Ethical and moral issues have received substantial focus in the modern society because of the recent cases in which huge corporations with big profits and earnings have faced bankruptcy. Enron is an example of corporations that have faced bankruptcy in the recent past because of the numerous problems it had with federal and state governments for manipulation of financial statements. While these problems are not only attributed to organizational issues, accounting firmsRead MoreEnron Accounting Scandal1706 Words   |  7 PagesThe Enron Accounting Scandal of 2001 There are many accounting scandals that have occurred throughout United States History. Many scandals occur even without outsiders knowing anything that had occurred. Companies try their best to keep many of the accounting scandals quiet. Everyday, there are political and business fraud happening, and most of it goes unnoticed. No company wants to admit that there was a problem or that people within the company are not trust worthy. However, when executivesRead MoreEnron Impact The Human Behavior Of Those Who Were Employed By The Company1068 Words   |  5 Pages1. How did the structure of Enron impact the human behavior of those who were employed by the company? The organizational structure of Enron was a calculated one with a clique that was thought as being the â€Å"smartest† guiding the rest of the workers. It included Kenneth Lay: Chairman, and Chief executive officer, Jeffrey Skilling: President, Chief operating officer, and CEO (February–August 2001), and Andrew Fastow: Chief financial officer. 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Moreover, cause when Enron come to the long term contract, they would assumed that there were long term declines in spot prices (Page 6, journal of economics), there would be the risk of loss if there were the increase in the price of gas in the future and it does not recognize in the financial statement; therefore, to make the income statement made more sense in economics term, Enron had created an accounting structure that help the company to stableRead MoreAnalyze the ethical violations of the company you researched. I’m trying to briefly analyze the1000 Words   |  4 PagesAnalyze the ethical violations of the company you researched. I’m trying to briefly analyze the ethical violation that happened more than a decade ago with company called Enron. It was first established as an interstate pipeline company. In the following 2 decades, Enron grew with high rates and soon became one of the biggest energy traders in the world. Enron won many titles for the short period of time being a leader in electricity, natural gas and communications. Now, let’s switch to negativeRead MoreThe Rise of Enron Essay examples1632 Words   |  7 Pagesof this decade ethical scandals erupted though corporate America. Corporate Leaders from major companies such as Enron were caught up in scandal’s ranging from fraud, conspiracy, grand larceny to obstruction of justice† (Cross, 2011, p. 76). At the time, the Enron scandal was considered to be one of the most notorious and compelling business ethics cases in modern generations. It’s was a textbook version of what can go wrong in an organization that lacks a true culture of ethical standards. InvestorsRead MoreArthur Andersens Troubles1239 Words   |  5 PagesArthur Andersen’s Troubles 1. Arthur Anderson (AA) should have been able to help prevent to some extent the Enron disaster, however, they either missed or ignored Enron’s manipulations allowing the fraud to continue as long as it did. AA contributed to the disaster by approving the structure of many Special Purpose Entities (SPE), which Enron used for off-balance sheet financing. The SPEs did not meet the requirements of an independent company and should have been consolidated with Enron’sRead MoreEssay about The Downfall of Enron1734 Words   |  7 PagesEthical 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 com pany are examples of ideal ethical business conducts. Unethical

Monday, December 23, 2019

My Personal Leadership Experience At The Nigeria Mid...

PART II: MY PERSONAL LEADERSHIP EXPERIENCE 1.0 EXECUTIVE SUMMARY Successful leadership is the realization of a good plan for a team to make a journey to a better place (Malcolm Webb, 2015). A significant leadership experience I have had was to lead a team of four pharmacists at a different Chevron location in Lagos, Nigeria; with two of them having far more years of professional experience than I did. At first, it appeared a daunting task as I had to ensure I built trust in the team. This was facilitated by holding a unit meeting with the new team on resumption where the aim was to understand the feelings of team members and to begin to understand the disposition of the team and the patient mix, especially with respect to what mattered most to them. I also fostered inclusiveness in the team by making it clear that everyone is important to the success of the group. Another task was to define each team member’s job role and relate it to the vision of the Nigeria-Mid Africa strategic business unit, project the team as a valuable part of the medical division with respect to skills and professionalism, optimize the opportunities through capacity building by enrolling team members and self in relevant developmental trainings, focus on how results are obtained i.e. the behavioural competencies surrounding the job and review process functions and implement changes and adjustments if necessary. Being my first leadership experience, I attended a supervisor essentials workshop aheadShow MoreRelatedThe Impact of Agricultural Sector on Economic Growth in Nigeria18675 Words   |  75 PagesAgricultural Economics of Nigeria: Paradoxes and Crossroads of Multimodal Nature Professor Eric C. 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Did any good come out of the African â€Å"colonial experience†? Introduction Colonization of Africa by European countries was a monumental milestone in  ­ the development of Africa. The Africans considerRead MoreCross Culture Management6213 Words   |  25 Pagesadaptation and internal integration which have evolved over time and are handed down from one generation to the next (Schneider and Barsoux 1997 P.20). Therefore when engaging in strategic coalition, setting up operations abroad or attracting the local market, companies have to comprehend how culture can be harnessed to drive business forward. Companies also need to analyze the potential for culture clashes that can undermined good intentions (Schneider and Barsoux 1997 P.10). 1. 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Sunday, December 15, 2019

Feasibility FINAL Free Essays

The Gaining Mall of Torsi has started the trend and we’re just going to be counting a few years more to finally see Torsi become one of the busiest business districts in the county. Torsi is a big district. It is rich in manpower and natural resources. We will write a custom essay sample on Feasibility FINAL or any similar topic only for you Order Now Getting businessmen to invest in Torsi, Dave City is not going to be hard. Because the demand is high, commercial establishments will be built in the district. These commercial establishments cannot just attract customers because of the products and services that they offer. In this digital era, many people always look for picture perfect spots to do their daily activities. Aside from that, the biggest industry where the demand for landscaping is the housing industry. Subdivisions, especially high end villages are in dire need of landscape services in order to keep their tenants comfortable and happy, to attract more tenants and buyers for these real estate properties. This is where the need for landscaping comes in. Netscape services will help buss nesses attract customers who will later on post their pictures with the landscapes as their background. They will post these photos in social media and it will automatically become a free advertisement for the business. In addition, it will also attract real estate buyers who are looking for high end properties. Who would not want picture perfect backgrounds at the comfort of your home, nowadays? LOGO The logo of the business includes a vector image of a blooming flower in pink and a cursive letter B. This design came up in order for it to become very recognizable as it is simple. Complex designs may just be difficult to remember for people who saw it just once. Simple logos are utilized by many gig household brands such as Milliner and Procter and Gamble. This can also help the business to become recognizable just with its logo. NAME OF THE BUSINESS The name of the business is BLOOMS Landscaping Services. BLOOMS is made up of the first letters of the surnames of the company shareholders. The surname initials of the shareholders were arranged in such a way wherein it sounds like the word ‘BLOOMS’. It is closely related to the main business of the company which are the flowers that bloom. In this case, people who get to know about the existence of this company will closely elate it to the business of flowers and landscaping itself. This makes us a recognizable brand in the first years of operation and a household brand after many years of being established. The challenge of being recognized by prospect customers is very crucial In starting a business. There are already many competitions around and many of them have been established for years. The challenge for them only includes innovations and improvements in their companies. They already have years of proven excellence and have passed the phase of introducing their businesses. Meanwhile, we are only beginning to show the people what we can do for them. We don’t have concrete and finished masterpieces yet because we are just new. Thus, we should be able to convince them to trust us in making masterpieces for them. The first step for that will not be about the quality of our work nor the price that they will pay for us. Instead, it is the name of our business that we will tell primarily. It is BLOOMS Landscaping Services that they will hear and with a catchy name, they will be willing to hear our propositions about their needs. They will allow us to listen to them and in the ND, work for them. How to cite Feasibility FINAL, Papers

Saturday, December 7, 2019

Lusitania Essay Example For Students

Lusitania Essay It was 2:10 p.m. on May 7, 1915. Leslie Morton, a lookout on the Lusitania,screamed, Torpedoes coming on the starboard side. Two explosions followed. Within 18 minutes the huge liner, once the largest ever built, sank to thebottom of the Celtic Sea. 1,195 out of the 1,959 people aboard died. WaltherSchwieger, commander of the German submarine U- 20, who had fired a singletorpedo 750 yards away from the ship, later called it the most horrible sight hehad ever seen. The Lusitania entered service between Liverpool and New York on September7, 1907. Funded by the British Admiralty, the Lusitania, built by the CunardSteamship Company, was required to double as an auxiliary cruiser in case of war. This was a secret agreement between the Admiralty and Cunard. On May 12, 1913she was put in drydock to be double plated and hydraulically riveted, as well asmodified for the application of guns. War was declared on August 4, 1914, andthe ship was sent again into drydock. There she was armed with 12 six-inchguns(Simpson 60). Britain wanted to ship war materials over the Atlantic, but there was anembargo of shipping munitions on passenger ships. America also tended to publishthe cargo manifests so that the Allies as well as the Germans would know what isbeing shipped. Britain found a loophole in this. New cargo added at the lastminute did not go on the original manifest, thus a supplementary manifest wouldbe submitted 4 or 5 days later. Also, due to the embargo, munitions were listedas sporting cartridges and stamped with Not liable to explode inbulk'(Simpson 63). About a week before the voyage, the New York German community tried to runan ad warning about the trans-Atlantic voyage. But the duty officer at the Statedepartment did not approve, so no ads were placed. Later George Vierick, who wasin charge of placing the ads, convinced William Jennings Bryan, Secretary ofState, that on all but one of the Lusitanias voyages it carried war materials. Bryan had an advertisement run the morning of departure of May 1, 1915. BritishNaval Intelligence discovered the ad and gave orders to look out for U-boats,predicting a trap. Turner, Captain of the Lusitania, was told that he wouldrendezvous with the cruiser Juno about 40 miles west of the southern tip ofIreland. German Intelligence thought that the U-boat lookout order meant thatlarge vessels would be leaving England. U-20 and U-30 were immediately sent tothe British Channel and southern Irish waters(Simpson 66-69). On May 5, Winston Churchill attended a meeting concerning the Lusitaniaand the U-20. They concluded that Juno would need an escort, so assistance wouldbe given, most likely the destroyer Flotilla. But this did not happen. Forunknown reasons, Juno was recalled to Queenstown, and no destroyers weresent(Simpson 70). On May 5 and 6 three ships were sunk by the U-20, the last without warning. Alfred Booth, Chairman of Cunard, read about this and sent a message to CaptainTurner diverting the Lusitania to Queenstown. Schwieger spotted the ship on May7, at 1:20 p.m. and figured that it was either the Lusitania or the Mauretania,which he knew carried arms. At 1:35 the ship turned directly towards U-20. Schwieger saw his opportunity and shot a single torpedo at 2:10. Two explosionsfollowed, the second was described in the U-20s log as an unusually heavydetonation. . . with a very strong explosion cloud. The ship tilted about 15 ,making the lifeboats nearly impossible to board. Six out of the 48 lifeboatsescaped before the ship completely sank 18 minutes later (Simpson 74). .u95b606634de48c06fcfbc04a479be3ee , .u95b606634de48c06fcfbc04a479be3ee .postImageUrl , .u95b606634de48c06fcfbc04a479be3ee .centered-text-area { min-height: 80px; position: relative; } .u95b606634de48c06fcfbc04a479be3ee , .u95b606634de48c06fcfbc04a479be3ee:hover , .u95b606634de48c06fcfbc04a479be3ee:visited , .u95b606634de48c06fcfbc04a479be3ee:active { border:0!important; } .u95b606634de48c06fcfbc04a479be3ee .clearfix:after { content: ""; display: table; clear: both; } .u95b606634de48c06fcfbc04a479be3ee { 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; } .u95b606634de48c06fcfbc04a479be3ee:active , .u95b606634de48c06fcfbc04a479be3ee:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u95b606634de48c06fcfbc04a479be3ee .centered-text-area { width: 100%; position: relative ; } .u95b606634de48c06fcfbc04a479be3ee .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u95b606634de48c06fcfbc04a479be3ee .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u95b606634de48c06fcfbc04a479be3ee .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; } .u95b606634de48c06fcfbc04a479be3ee:hover .ctaButton { background-color: #34495E!important; } .u95b606634de48c06fcfbc04a479be3ee .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u95b606634de48c06fcfbc04a479be3ee .u95b606634de48c06fcfbc04a479be3ee-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u95b606634de48c06fcfbc04a479be3ee:after { content: ""; display: block; clear: both; } READ: Eyes of The Dragon By King EssayLord Mersey, the judge conducting the Court of Inquiry, concluded that theAdmiralty had tried to falsely blame Captain Turner for the incident. He alsofound that almost all oaths given by the crew members to all have started withAt the time of sailing the ship was in good order and well found. The vesselwas unarmed and possessed no weapons for offense or defense against an enemy andshe has never carried such equipment. Boat drill was carried out before leavingNew York. He cleared Turners name and concluded that the explosions came fromtwo torpedoes, and the ship was carrying no contraband(Simpson 80). Why did the ship sink so quickly? It has been thought that the weaponswere the second explosion. In 1972 divers unanimously testify that the bow wasblasted by a