discussing a few theories that I feel have some key concepts which point to what the good ultimately is: egoism‚ utilitarianism‚ and deontology. Egoism values the desires of the individual the most‚ and this is most important to the individual. Utilitarianism‚ on the other hand‚ needs to be impartial in order to value each individual’s happiness equally. Deontology also conflicts with both of these other theories because it is not consequentialist like utilitarianism‚ and does not always benefit
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THE COLLAPSE OF ENRON August 11 2008 [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] FROM PERSPECTIVE OF CORPORATE GOVERNANCE TABLE OF CONTENTS CONTENTS PAGE NO. Introduction 3 Background of Enron 3 Enron Business Model 4 Summary of transactions & Partnerships
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from where to purchase raw materials‚ where to build a factory‚ how much to pay employees‚ how much to charge for the product‚ etc. However‚ the top priority for any business is to figure out how to maximize profit. In this paper‚ we will discuss how ethics plays a role in business decision-making and more importantly‚ discuss how utilitarianism plays a role. Utilitarianism would say that a business is morally right if it considers all the consequences before making a decision to adopt a course
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At one time Enron was one of the world’s largest producers of natural gas‚ oil‚ and electricity. It also appeared to be one of the most profitable companies‚ taking shareholders from $19.10 in 1999 to $90.80 by the end of 2000. Enron’s top management answered to a Board of Directors whose responsibility was to question and challenge new partnerships‚ ventures‚ and decisions within the company. On several occasions‚ Andrew Fastow‚ the company’s Chief Financial Officer approached the board of
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Enron was a company in the energy industry founded in 1985 by Kenneth Lay. Enron was based in Huston‚ Texas and employed approximately 20‚000 people. In 2001‚ Enron filed for bankruptcy after many years of lying‚ fraud‚ and dishonesty with their financial books. Enron was pretending to be a huge‚ successful company when in reality‚ it was in a financial hole so deep there was no way of getting out. Discuss and analyze the culture at Enron. In what way was it effective? In what ways was it the catalyst
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The Enron scandal‚ revealed in October 2001‚ eventually led to the bankruptcy of the Enron Corporation‚ an American energy company based in Houston‚ Texas‚ and the de facto dissolution of Arthur Andersen‚ which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time‚ Enron was attributed as the biggest audit failure.[1] Enron was formed in 1985 by Kenneth Lay after merging Houston Natural
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Utilitarianism and Deontology support the legalization of marijuana‚ it produces a greater good for the economy‚ health‚ and positive effect on people’s happiness. The law of duty would be moral‚ and legalizing marijuana stimulates jobs‚ reduces crime rates‚ helps medically‚ and economically produces money. As a Utilitarian‚ they believe that the best action is the one the maximizes utility‚ and in this argument marijuana is a utility that could benefit for the greater good of human beings. In Deontology‚ they
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Ethics is a system of moral principles. The society depends on ethics from people‚ companies and the government in order for a civilized world. What happens when an unethical behavior is done? What if it is done by a large corporation‚ large enough to hurt the economy? The Enron scandal is an example of a historical exposure of unethical behaviors within a company and it is also one of the largest corporate scandals in America. Enron started as a gas pipeline company. It soon expanded into the
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Deontology Deontologists claim that an action or a moral rule is right because of its own nature‚ even if it fails to bring about the greatest good. Deontology is critically based on duty (deontos) – a moral obligation we have towards another person‚ a group or society as a whole. In this sense‚ deontology is concerned with the intrinsic properties of actions‚ not their end result. Immanuel Kant is arguably the most famous advocate of modern deontology. According to Kant‚ moral law is synthetic
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Abstract - The Enron scandal is one of the biggest financial scams ever to take place and its root’s lie in the desire of the senior members of Enron to earn as much for themselves as possible and were assisted in this greatly by the negligence shown by their auditor’s and consultants‚ Arthur Andersen. Most of the debts and tangible assets of Enron were on the balance sheet of partnerships that were run by high-ranking officials within the corporation and these partnerships were recorded as related
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