Enron a Case Study Enron‚ once known as the worldwide leader in energy trading‚ began as a natural gas pipeline company. “At its peak‚ Enron brokered up to 20 percent of America’s energy transactions. These included basic contracts to deliver natural gas from wells to pipelines for distribution to homes‚ contracts for the purchase of electrical power facility out port‚ and more complex financial contracts‚ which allowed power companies to manage price and market risk” (Ackman)
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the principles of right and wrong that are accepted by an individual or a social group) "the Puritan ethic"; "a person with old-fashioned values" (a system of principles governing morality and acceptable conduct) motivation based on ideas of right and wrong the philosophical study of moral values and rules known as moral philosophy is a branch of philosophy that addresses questions about morality—that is‚ concepts such as good and evil‚ right and wrong‚ virtue and vice‚ justice‚ etc. Major branches
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is concerned about the results of an action‚ while Kantian ethics is focused about the moral duties‚ Virtue ethics on the other hand place an emphasis on the development of a good moral character. Unlike the first two ethical theories‚ virtue ethics is not a theory about what makes an action right. It answers the question‚ “What kind of individual should I be?” and “What kind of characters are necessary to live a virtuous life? Virtue ethics can be tracked back from the ancient Greek philosopher‚ Aristotle
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over many years. BCCI was paying its auditors $5 million per year to conduct audits which each year took nearly five months. if properly done‚ these audits should have uncovered the problems and forced action long before April‚ 1990 4. In the case of BCCI‚ there can be no question that the auditing process failed to work. As the Bank of England stated in determining that BCCI be closed 5. Given the demonstrable failure of the auditing process‚ serious questions have been raised about
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CASE STUDY: CORPORATE GOVERNANCE AND THE FALL OF ENRON Introduction to the Enron Case Enron was one of the world’s leading energy traders born from deregulation of these markets in certain US states. It rapidly grew and the world followed suit. It was nominated ‘World’s Most Innovative Large Corporation’ six years in row and valued at 64 times its earnings and 6 times its book value. It had one of the highest paid CEOs in the world in 2000. It led an aggressive and apparently effective expansion
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Enron Case 10.8.2014 Melissa Becker Boya Du Sidi (Fiona) Chen Wei (David) Yu In June of 2001 Enron’s new CEO‚ Jeff Skilling‚ was heralded as the “No. 1 CEO in the entire country and Enron was saluted as “America’s most innovated company.”1 Just six months later‚ in December‚ Enron filed for bankruptcy. The failure shocked the public and angered investors. How could this have happened? Did no one see this coming? Where were the accountants? Where were the controls? Enron’s public troubles
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Enron Case Study A company’s leadership and culture influences its business ethics. A company’s culture is known as the organizational culture. It is the actions and beliefs of individuals that work at the company. All the shared values and enforced policies contribute to organizational culture. “The leadership culture appears as an integral part of the organizational culture and it can have a positive or negative influence upon the latter.” (Popa‚ 2013‚ p. 179). The organizational culture
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Nicomachean Ethics on Moral Virtue Aristotle believes that virtue‚ or excellence‚ can be distinguished into two different types. One being intellectual virtue‚ and the other being moral virtue. Aristotle encompasses intellectual virtue as being philosophical wisdom‚ understanding and practical wisdom. He considers moral virtue to be of liberality and temperance. Aristotle distinguishes between the two types using his previous argument about the irrational element. Aristotle shows that the irrational
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The term ethics is defined as a system of moral principles. When incorporating ethics with business it is extremely difficult to determine what is considered moral or immoral‚ as well as what is judged as justice in society. One viewpoint on this topic opposes justice can be compatible with business. The other viewpoint believes there is a line that draws between good and bad; it really depends upon the motive of the action. Is business ethics possible in our present day society? Matigari‚ a
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Aristotle’s virtue ethics attempts to make peace with crime and restore justice to society by reminding us of the importance of virtue‚ which enables us to overcome negative emotions such as anger‚ revenge‚ and hatred (Williams & Arrigo‚ 2012). Furthermore‚ Aristotle implies that the virtue of forgiveness does not mean that a victim has to no longer be angry‚ but that they overcome their desire to seek revenge that stems from their emotional experience with being angry (Williams & Arrigo‚ 2012).
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