“What Went Wrong at Enron?” Trident University International Phillip M. Cherry Module 5 Case Assignment ETH 501: Business Ethics Dr. Michael Garmon March 1‚ 2012 3/1/2012 Introduction In this paper I will provide a critical evaluation of the Corporate Culture at Enron‚ explain how the business ethics and operations were influenced by the corporate culture‚ and what went wrong. In addition
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Headquarters in Indra Krishnamurthy 2008 Purchase‚ New York‚ Nooyi‚ Chairman of USA. Operations the Board and CEO (2006-). global in scope. Steven Reinemund (CEO 2001-2006). Roger Enrico (CEO 1996-2001). Donald Kendall and Herman Lay‚ Founders. 1965 Merger with Frito-Lay CEO of Pepsi Cola‚ and engineer of PEPSICO Merger‚ Donald Kendal 1970s 1980s Diversification outside snacks and beverages Acquisition of Pizza Hut‚ Taco Bell‚ KFC 1990s Acquisition of 7UP‚ Mug Root Beer‚ SunChips‚ Introduction
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Institution: Tutor: Date: Kudler Fine Foods is a food company which was established by Kathy Kudler in 1998. The company specializes in bakery items cheese and dairy‚ meats and wine. Kudler is determined to ensure the company’s growth and therefore has to lay down proper strategies. However‚ the strategies are influenced in one way or another with the global market. For the Kudler Fine Foods to be at par with other companies in the food industry‚ it has to adjust to the current technological advancement
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The three companies I am going to discuss today‚ which have done exactly that‚ are Frito-Lay‚ NASA‚ and British Petroleum. Frito-lay realized they had a KM problem when it came to there attention that they had no centralized system for finding and consolidating corporate and customer sales account information. It takes more than good flavor and a hearty crunch to sell the salty snacks churned out at Frito-Lay and corporate executives knew that capturing best practices and corporate information would
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Enron’s ride is quite a phenomenon: from a regional gas pipeline trader to the largest energy trader in the world‚ and then back down the hill into bankruptcy and disgrace. As a matter of fact‚ it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets‚ and 24 days to go bankruptcy. Enron is also one of the most celebrated business ethics cases in the century. There are so many things that went wrong within the organization‚ from all personal (prescriptive and psychological
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Indu Industrial Disputes Act -1947 The conflict between the industrialists (employers) and labourers (employees) is inherent in a democratic and an industrial society. Economic progress of a country largely gets obstructed by the industrial conflicts; therefore ‘industrial peace’ is desired. It is a reality that no rule‚ regulation or legislation can eliminate the industrial conflicts permanently; however a quest for industrial harmony is indispensable when a country plans to make industrial
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It is debatable that the best things in life are free‚ but there is no question that the necessities to live a life in today’s society costs money. Having a job or career is no longer an option as much as it is a requirement to live in the society that is today and to be able to afford the basic needs of an individual such as shelter‚ food‚ and clothing. Unemployment rates are on the rise and unemployment is becoming a leading issue in America after the economic recession the country has been facing
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investigation by Arthur Andersen‚ an accounting firm employed by Enron‚ failed to produce concrete evidence of misappropriation within Valhalla. Questionable practices were identified‚ but Enron failed to react appropriately to this information. CEO Lay was able to persuade key executives within Enron and the board of directors to keep running Valhalla offices‚ with minor changes in personnel. Mick Seidl‚ unhappy with Lay’s influence over the board‚ called Mike Muckelroy to investigate Valhalla.
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1. What led to the eventual collapse of Enron under Lay and Skilling? The collapse of Enron seems to be rooted in a combination of the failure of top leadership‚ a corporate culture that supported unethical behavior‚ and the complicity of the investment banking community. In the aftermath of Enron’s bankruptcy filing‚ numerous Enron executives were charged with criminal acts‚ including fraud‚ money laundering‚ and insider trading. Ben Glisan‚ Enron’s former treasurer‚ was charged with two-dozen
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Avianus and Caxton tell different stories of a goose that lays a golden egg‚ where other versions have a hen‚ as in Townsend: "A cottager and his wife had a Hen that laid a golden egg every day. They supposed that the Hen must contain a great lump of gold in its inside‚ and in order to get the gold they killed it. Having done so‚ they found to their surprise that the Hen differed in no respect from their other hens. The foolish pair‚ thus hoping to become rich all at once‚ deprived themselves of
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