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Enron: Applying Business Principles, 2006.
A look at Enron, it's corporate climate and the reasons for the company's downfall.
2,680 words (approx. 10.7 pages), 6 sources, APA, $ 80.95
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Abstract
This paper reviews the business principles related to the corporate climate at Enron including principles of ethics, leadership and corporate culture. This paper also analyzes the reasons why Enron failed, with the company engaging in flagrant corruption that flies in the face of international business morals and values.
Contents:
Introduction
Overview: The Fall of Enron
Chain of Command and Management Style at Enron
Managerial Ethics and Enron
Corporate Culture
Conclusions
From the Paper
"The organizational culture of Enron changed under Kenneth Lay's guidance and that of his cohort Jeffery Sklling, who together created a culture that supported the idea "do it right, do it now and do it better" (Sims, 2003: 148). The culture at Enron might best be described as a monoculture, supportive of a particular breed of top-notch executive rather than a heterogeneous or diverse culture supporting open democracy and freethinking. The centralized leadership style at Enron further acted to support a lack of diversity and burden on employees. Many have described the corporate culture that existed under Lay as innovative and competitiveness, where "employee enjoyed autonomy IF they produced quarterly results" (Fox, 2003). Top leaders began recruiting associates from top schools and looking for prestigious talents (Thomas, 2002). Workers were rewarded with amazing perks including concierge privileges and merit bonuses (Thomas, 2002). Among the "bright hirings" during the 1990s included Andrew Faston, who became CFO of the company in 1998 (Thomas, 2002). Enron's internal culture however soon took on a "dark tone" when a performance review committee was established enforcing a 360 performance review process based on Enron's morals and mission. These included "respect, integrity, communication and excellence" otherwise known as RICE (Thomas, 2002). Cultural diversity was not encouraged; rather all employees were encouraged to be the same bright and clever, innovative and daring.
Most associates however began feeling too much pressure and felt that they were judged on the profits they brought into the company rather than the values outlined in the RICE (Thomas, 2002). The practice of posting earnings was common in the company. The worse people's profits margins were the more likely they were to be downsized, thus internal competition in the organization was fierce. "Immediate gratification was prized above long-term potential" (Thomas, 2002) suggesting that top officials did not care much for long term relationships as they did for immediate profits."
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Enron and Business Ethics, 2003.
An examination of the effect that the Enron collapse will have on future international business ethics.
3,321 words (approx. 13.3 pages), 19 sources, MLA, $ 94.95
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Abstract
This paper discusses the issue of business ethics as it applies to Enron's collapse. It looks at Enron?s ethical conduct in respect to its clients and outlines implications of the company?s unethical behavior. Since the purpose of the project is to evaluate the ethical performance of the global energy leader, the scope is limited to Enron and energy companies directly impacted by Enron?s activities.
From the Paper
"Over the last few decades until recently Enron remained the industry leader. In year 2000 Enron was ranked ?one of the world?s leading energy, commodities and service companies? with $101 billion revenues (Enron homepage). In 2001 Enron received a title of ?Most Innovative Company in America? for the sixth consecutive year in Fortune Magazine (Fortune Magazine). As the company?s CEO and chairman Kenneth Lay said, ?Our world-class employees and their commitment to innovative ideas continue to drive our success?. Furthermore, Enron was placed number 18 on Fortune?s list of 535 ?Most Admired Companies?, in the top five in ?Quality of Management?, ?Quality of Products/Services?, and ?Employee Talent?(Enron special press release ). Although Enron was praised in the marketplace for impeccable leadership and success, the company unexpectedly collapsed after multiple unethical and illegal activities had been discovered."
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Corporate Greed and Business School Reforms, 2002.
The paper disusses the need for reforms in business school curriculums to include subjects such as business ethics, in the wake of the recent spate of dishonest business practices.
2,513 words (approx. 10.1 pages), 10 sources, MLA, $ 76.95
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Abstract
The paper shows that in the wake of recent dishonest practices by Enron, WorldCom, Global Crossing, Xerox, Qwest, Arthur Andersen and Merck, many people are asking how businessmen, believed to be so well educated and leaders in corporate America, lacked the moral courage to seek and state the truth. It shows how business ethics has been thrown to the side as a wild-wild-west form of capitalism has taken hold on America's corporate leaders. This corporate malfeasance has cost thousands of jobs, trillions of dollars in stockholder value, and a skepticism of our once revered free economic system. This paper shows show why a lack of business ethics is such a far-reaching problem in our society and suggests reforms in the business school curriculum to help instill responsibility and accountability in our business leaders. It also shows how consumer education classes would help protect individuals from becoming victims of corporate greed.
From the Paper
"Everywhere we look corporate America is bombarding us with advertising in the hopes of creating demand for their relatively unneeded products. Britney Spears dancing around selling Pepsi, the Dell Computers ?Dude you?re getting a Dell? guy, and the billboards for SKYY vodka with images of sexy supermodels are used to create desires for individuals to increase their spending and sink further into debt. One of the underlying problems that corporations have had is that even if they bombard us with sexual images that sell products is that our demand can only be as big as our pocket books. Corporate America then came up with the idea of credit cards, which eased the liquidity problems. An article entitled ?Corporate Power and the Evolution of Consumer Credit? appearing in the December 2000 issue of The Journal of Economic Issues, John Watkins, professor of Economics at Westminster College, describes how corporate power has perpetuated the debt crisis in America."
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Business Ethics, 2008.
This paper explores three notable business scandals; Enron, WorldCom and Tyco.
2,013 words (approx. 8.1 pages), 5 sources, APA, $ 63.95
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Abstract
The paper describes the accounting scandals of Enron, WorldCom and Tyco and looks at how these financial frauds occurred as a result of monitoring failures at different levels. The paper explores ethics and moral judgements in general and discusses how if one is not comfortable telling one's family about a decision, then the decision is likely unethical in one's business.
Outline:
Abstract
Introduction
Enron
WorldCom
Tyco
Analysis & Conclusion
From the Paper
"In the past decade, several scandals involving the improper management of financial data have emerged, bolstering the importance of business ethics to the forefront of many industries. The most notable accounting scandals in the 2000s consisted of Enron, WorldCom and Tyco. In just 15 years, Enron grew from nowhere to be America's seventh largest company, employing 21,000 staff in more than 40 countries. WorldCom achieved its position as a significant player in the telecommunications industry through the successful completion of 65 acquisitions. From 1997 through 2001, Tyco's revenues rose by 48.7% a year. These three significant accounting scandals that occurred in the past decade led to the enactment of the Sarbanes-Oxley Act, an act that requires that the management of a company certify that a system of internal controls is in place that is adequate to report a fair representation of the financial condition of the business in financial statements."
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Business Ethics, 2003.
An examination of the importance of business ethics in the business world.
1,330 words (approx. 5.3 pages), 2 sources, MLA, $ 44.95
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Abstract
This paper briefly discusses why it is essential for there to be ethical decision making in the business world. It shows that the examples of Enron and WorldCom caused people to rethink their levels of ethics within their own businesses and jobs. Also looks at how unethical business practices within a company affect levels of job satisfaction.
From the Paper
"In light of the current scandals that have gripped the world?s economic headlines and reduced the overall levels of trust in the nation?s business leaders, ethical decision making has become a hot-button issue both in the hallowed halls of academia where MBAs receive their educations and also in the everyday language of decision makers in the fields of business administration. What is so potent about the examples of Enron and WorldCom, amongst other companies accused of fraudulent and criminal business ethics, as well as of Martha Stewart, a brand name as well as a hated example of housewifery gone corporate logo, is that bad ethics can be bad business. When ethical scandals grip a company, that company?s future and good name can be destroyed. Thus, the idea that the only ethical query someone need ask him or herself when engaged in a business transaction is ?will it make money for the company I work for? is a fallacy."
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The Current State of Ethics in Big Business, 2002.
The paper discusses in detail the current problems of ethics in big business and the dilemma ethical behavior can create for the company.
3,335 words (approx. 13.3 pages), 8 sources, $ 95.95
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Abstract
This paper discusses the current problems of business ethics in the framework that corporations have long struggled with corporate social responsibility and the overriding corporation goal to make a profit. The paper concludes that, despite the damage done to the reputation of big business ethics by companies like Enron and WorldCom, the outlook for the continued encouragement and development of ethically conscious companies is good. The author states that business and government leaders are developing a business environment that is more accepting and encouraging of ethically conscious businesses.
Table of Contents
Introduction
Corporate Social Responsibility and Individual Rights
Business Ethics and Enron
Business Ethics at WorldCom Inc.
Preventing Future Enron and WorldCom?s
Lessons from Enron and WorldCom
Ethical Corporations and Profit
Conclusion
From the Paper
"The concept of corporate social responsibility has been debated for as long as the capitalist system has existed, and is one of the most important cornerstones of business ethics. Corporate social responsibility includes all decisions that are made within an organization that are linked to ethical values, and compliance with existing laws. Corporate social responsibility is closely tied to the respect for individuals and communities, animals and plants, and the environment as a whole."
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Ethics in Business and the Accounting Industry, 2002.
A paper which looks at how several philosophers' views on ethics apply to the current trend of business frauds.
1,899 words (approx. 7.6 pages), 5 sources, MLA, $ 60.95
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Abstract
The ethical side of business practices has become a hot topic within the last few years. The business world of accounting has always addressed the rights and wrongs of the industry, but only currently has been held responsible. The paper shows that white collar crime is on the rise and the recent events of the Enron scandal, the state of disarray of the accounting firm of Author Anderson and the Martha Stewart stock trades have left the American consumer wondering how the business world views and enforces ethical issues. The paper examines the views of philosophers such as Plato and Socrates whose principles of virtue have been proposed as the highest good - virtues such as happiness or pleasure, duty, virtue or obligation.
From the Paper
"Those working within the career of accounting should acknowledge the moral distinctions of right and wrong when keeping books, conducing audits, and managing accounts of any size firm. Accountants are to be dependable and trustworthy to all stockholders and consumers of America. If any of these trusts are broken, then not only has the firm suffered, but the nation as well."
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Business Ethics, 2007.
This paper explores business ethics in the context of the Enron scandal.
2,561 words (approx. 10.2 pages), 10 sources, MLA, $ 77.95
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Abstract
The paper discusses the Enron scandal from a mainly financial standpoint and deals with what the Arthur Anderson accounting firm did wrong and the consequences that came from their accounting errors. The paper looks at the concept of business ethics that is still unclear to many companies and employees and shows how companies must learn from the mistakes of Enron and have a sound policy in place. The paper also examines the responsibility businesses have for society and the lack of Enron's social responsibility.
From the Paper
"Business ethics do not require understanding from a managerial standpoint only. Employees should be aware of what business ethics really mean, and what the ethical rules of their company are. Most employees would agree that it is wrong to steal money from the company they work for. However, those same employees would think nothing of taking home a pen they stuck in their shirt pocket, or a notepad they took with them when they went out to talk to a client. While small items such as pens and notepads may seem very insignificant, even small items are part of the ethical dilemmas that face companies today."
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Business Ethical Lapses, 2005.
This paper discusses the current situation of business ethical lapses, especially at Enron, WorldCom, Tyco International and Freddie Mac.
1,775 words (approx. 7.1 pages), 15 sources, MLA, $ 57.95
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Abstract
This paper discusses that the business world is lapsing into a state where the question of maintaining certain ethics in all the numerous business transactions is being lost, particularly in the area of price-fixing, overcharging, domestic and foreign bribes, fraud and patent infringements. The author points out that most business leaders recognize that ethics in business must be given a great importance and are setting up ethical codes of conduct, which the employees, starting with the top echelons, are expected to follow. The paper relates that the Sarbanes-Oxley Act, which creates severe penalties for the falsification of records and other such corporate crimes, has proven to be a very effective tool in the controlling of white collar or corporate crimes.
From the Paper
"'Freddie Mac' is a corporation owned by stockholders and is responsible for the supply of a continuous fund for mortgage lenders. It was in June 2003 that the President and Chief Operating Officer of the Company, David Glenn was fired, after which event his Chairman and Chief Executive Officer, Leland Brendsel, and the Chief Financial Officer, Vaughn Clarke submitted their resignations. Freddie Mac has been met with stiff opposition when it attempted to pay off the two executives who resigned in the middle of the accounting scandal, the purpose being that the share prices would not fall drastically. While Clarke has been allowed to resign with $1 million in compensation, Brendsel has been offered $53.7 million as compensation, even though it came to light that the two top executives had been involved in smoothing out earnings, and in accounting violations."
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Business Ethics and Government Regulation, 2004.
Examines several business cases where the government intervened.
700 words (approx. 2.8 pages), 4 sources, MLA, $ 24.95
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Abstract
It seems that one can't even turn on the television without seeing yet another business or business person being investigated by the SEC or sitting before a Congressional panel explaining their actions. This paper examines several questions that should be raised when discussing Congressional scrutiny: At what price should the SEC and Congress cleanse the business world of shady deals and deal strikers? What long-term economic effects will be felt? What solutions should be implemented to prevent future occurrences of business impropriety? The paper examines several cases of business misconduct and answers these pertinent questions.
Paper Outline:
Introduction
ImClone
Enron
Bibliography
From the Paper
"The government's solutions thus far are counter-productive at best. Prosecutory tactics have proven time and time again to be an ineffective solution to curbing business impropriety and has only served to punish the innocent. Taxpayers pay for the prosecution, employees pay with loss of income, and the general public pays for the corporate lawyers through increased cost of goods and services. To keep businesses ethical a more effective less costly system of checks and balances must be implemented."
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Ethical Practices in the Business World, 2008.
An explanation of how business people need to create new guidelines for ethical practices in light of recent business scandals.
4,016 words (approx. 16.1 pages), 16 sources, APA, $ 108.95
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Abstract
This paper discusses how ethical issues in the business world have changed since the demise of companies such as Enron, WorldCom, and Arthur Andersen. According to this paper, several different approaches have been suggested for businesses today to cope with the issue of ethics and for corporations to develop ethical guidelines.
Outline:
Introduction
Ethical Issues
Ethical Grounding
Leadership
Conclusion
From the Paper
"The issue needs to be considered from the smallest infraction to the major ones. The latter, of course, are what get a company into trouble, while the former often lead to the latter. However, business people seem to have a number of rationales for why certain behaviors that might be unethical in everyday life are not in business. Carr (1993) argues that there is an agreement among people in business that bluffing is accepted and that, in the words of British statesman Henry Taylor, "falsehood ceases to be falsehood when it is understood on all sides that the truth is not expected to be spoken" (Carr, 1993, p. 143). Carr argues that bluffing is not unethical in this context. It is not lying because while both bluffing and lying would be meant to deceive bluffing in business is accepted as part of the price of doing business and so cannot be considered lying."
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Business Ethics, 2005.
This paper evaluates the conduct failure at Enron, the Sarbanes-Oxley Act and implications for business ethics.
1,800 words (approx. 7.2 pages), 4 sources, $ 71.95
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Abstract
The paper examines the nature of the relationship that exists between this specific piece of legislation (the Sarbanes-Oxley Act), codes of conduct that are routinely ignored and some possible means of improving the ethics of corporations. As a pertinent example, the paper analyzes some of the reasons why the corporate code of ethics at Enron failed to actually prevent any inequities or scandal.
From the Paper
"Few would argue that one of the greatest issues facing the business world in the twenty-first century is the ability of major corporations to re-establish the trust of their stockholders and the general public. A number of corporate scandals in the last decade have soured the public's opinion of the business world, corporate leaders, and the ethical standards of both. Names like Enron, Arthur Anderson, and WorldCom, to name just a few, have been etched into the public consciousness, along with extraordinary tales of corporate greed, excess, and unethical business practices. In short, the corporate world has come to embody all of its worst stereotypes and the public is not pleased as a result."
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Ethical Decision Making in the Business World, 2004.
Examines why business ethics is not an oxymoron.
1,218 words (approx. 4.9 pages), 2 sources, APA, $ 41.95
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Abstract
In light of the current scandals that have gripped the world?s economic headlines and reduced the overall levels of trust in the nation?s business leaders, ethical decision making has become a hot-button issue, both in the halls of academia, where MBAs receive their educations, and also in the everyday language of decision makers in the fields of business administration. This paper shows that what is so potent about the examples of Enron and WorldCom, among other companies accused of fraudulent and criminal business ethics, as well as of Martha Stewart, a brand name as well as an example of 'housewifery gone corporate logo', is that bad ethics can be bad business. When ethical scandals grip a company, that company?s future and good name can be destroyed. The paper shows, therefore, that the idea that the only ethical query someone need ask him or herself when engaged in a business transaction is ?will it make money for the company I work for? is a fallacy.
From the Paper
"Thus, the elements of an ethically defensible decision cannot always be quantified, although they must always be legal, if for only to ensure the continued financial survival of the company. However, for decisions that are ethical and financial in nature, rather than legal, there is no exact calculus, only the need to examine the implications of various options from a multitude of self-interests and perspectives, rather than simply one?s own."
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Integrity within American Business Organizations, 2002.
A look at how to restore confidence in the integrity of American business organizations.
3,050 words (approx. 12.2 pages), 5 sources, MLA, $ 89.95
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Abstract
Using Enron's collapse as a background, this paper endeavors to arrive at the restoration of integrity within American business organizations. It scrutinizes the reasons for Enron's downfall in the light of the auditing business, looks at their law firm's role in the collapse and Enron's lack of 401(k) diversification. The paper concludes with proposals for restoring integrity within the American business arena.
From the Paper
"The fallout from Enron?s collapse will influence our business systems and economy for years, maybe even decades. More importantly, the collapse will shape the American business community?s psyche in ways we have only begun to imagine. Before its collapse, Enron?s value rivaled Maylasia?s GDP: when an entity that large implodes, there are bound to be side effects and repercussions through almost every facet of the economy. The hardest hit sectors, of course, will be institutional investing and accounting and auditing practices: a thorough examination of how company 401(k) retirement funds are managed will be necessary to determine why so many aging working Americans suddenly lost almost every penny of their 401(k)s ? their hope and their family?s hope for their retirement years, just around the corner ? when Enron collapsed. Accounting companies who combine their services with consulting services ? not just Arthur Anderson: every accounting firm does it at least to a certain extent, Anderson just happened to get caught ? will need to be checked and after years of congressional grumbling, this time it may actually happen."
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"Business Law: Principles, Cases & Environment" by Anderson, Fox and Twomey, 1991.
This paper is a chapter-by-chapter summary of "Business Law: Principles, Cases & Environment" by Anderson, Fox and Twomey, the legal and regulatory context upon which business operates and the social forces behind these rules and principles: Contracts,
6,975 words (approx. 27.9 pages), 2 sources, $ 135.95
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From the Paper
""Business Law: Principles, Cases and Environment, by Ronald Anderson, Ivan Fox and David Twomey, provides an indepth examination of the principles of private law and cases. In addition, the authors have taken care to include information on the legal and regulatory environment in which business operates, as well as the social forces behind the creation and evolution of specific principles and rules.
The text is divided into 11 parts: legal rights and social forces; contracts; personal property and bailments; sales; commercial paper; government, business and society; secured transactions, creditors' rights and insurance; agency and employment; business organizations; real property; and, estates."
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