Enron Ask Why? How Unethical and Illegal Behavior Ruined Lives Brief History of Enron Enron was an energy company based in Houston‚ Texas that dealt with the energy trade on an international and domestic basis. Enron formed in 1985 when Houston Natural Gas merged with InterNorth. After several years of international and domestic expansion involving complicated deals and contracts‚ Enron became billions of dollars in debt. All of this debt was concealed from shareholders through partnerships
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Pressure‚ ignorance‚ or reward can have a various affects on a person’s choices about virtuous acts but when it causes his or her moral actions to be compromised‚ then only certain situations can pressure or ignorance be an excuse. Courage is a virtue that can be determined by choices that a person can make. A person that only does an act because he sees some personal gain from the act such as saving a child from a fire may not have committed a virtuous act because of the motive behind it such
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Case 1 Analysis: Walmart: The Main Street Merchant of Doom Walmart was first founded by Sam Walton in 1962. Mr. Walton wanted to provide the “average” American people with quality goods that they could afford at low prices. Sam took the expertise that he took from working at JCPenney and applied it to his new company. Not soon after opening their first store‚ Walmart began to develop a loyal customer base. Along with this loyal customer base came expansion within the company across the United
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1. Ryan’s ethical dilemma is to manipulate the cost budget to keep the price competitive so that the VP of Sales‚ Sid‚ can make his quota for the year. Ryan is being asked to remove the quality testing and maintenance from variable costs and make them fixed costs to allow the selling price to drop from $6.00 to $5.30. Sid‚ the VP of sales is using his status in the company to take advantage of Ryan. Ryan‚ a new hire‚ wants to be on good terms with everyone and this is just putting him in a compromising
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Enron: Tone at the Top The fall of Enron is not just one of the largest bankruptcies in U.S. history‚ but in my opinion‚ a landmark case study of the lack of business ethics in an organization. Enron’s downfall‚ along with the demise of Arthur Andersen‚ one of the largest public accounting firms at the time‚ brought about a swift change in U.S. regulations governing how publicly traded companies reported their financials. While the top brass at Enron pled ignorance to the fact that they had no control
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Patience is a Virtue Are you an impatience person? A person that complains a lot that all the things you want are done instantly. Or a person that would like to use every second of his/her time wisely. Here explains why patience is a virtue and why we should have patience. The phrase “patience is a virtue” is just a way of expressing the importance of being patient. A virtue is a trait or quality deemed to be morally excellent and thus is valued as a foundation of principle and good moral being
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Essay on Virtue For most religious people it is one of the main goals in their life to live after the guidelines of virtue and show behavior with high moral standards. Virtue means goodness‚ morality‚ integrity‚ dignity… Everything that Randle McMurphy is not at the first instance in “One Flew Over the Cuckoo’s Nest”. His character opposes all classic characteristics of virtue and roughly speaking he fails to survive in the end. Therefore is it important to be virtuous? I believe that although
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Virtues in Engineering William F. May said of the expert: “He had better be virtuous. Few may be in a position to discredit him. The knowledge explosion is also an ignorance explosion; if knowledge is power‚ then ignorance is powerlessness” (Harris 30). In the context of engineering‚ this places engineers in a very special position. Because of this power‚ which few may ever possess‚ it becomes necessary for engineers to be virtuous or posses certain attributes for the welfare of the public
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The Unethical Behavior of Enron Enron‚ once the countries seventh-largest company according to the Fortune 500‚ is a good example of how greed and the desire for success can transform into unethical behavior. Good ethics in business would be to compete fairly and honestly‚ to communicate truthfully and to not cause harm to others. These are things that Enron did not seem to display‚ which led to Enron’s operations file for bankruptcy in 2001. Enron’s scandal has become one of the most talked
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The question of what is just is often sought after in the studying of philosophical works. In Plato’s Republic‚ the definition of the virtue of justice is pursued. In Book I of Plato’s Republic‚ Thrasymacus claims the following: “what’s just is nothing other than what’s advantageous of the stronger” (338c). Following that statement‚ Thrasymacus is asked by Socrates to explain it further‚ to which Thrasymacus states that in every city that is governed aristocratically‚ tyrannically‚ or democratically
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