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This paper examines the ethical breaches that occurred at Enron before and leading up to its demise. First, it describes the background and causes for the Enron collapse. This includes a description of the company, annual revenues and its leadership. Then it analyzes the ethical issues of the scandal in a literature review of writings by scholars and journalists. Next, the paper considers the SOX law, which provides new or greatly enhanced standards for all U.S. public companies in terms of their boards, their management, and the public accounting firms that are linked to their management and services. The paper concludes by briefly citing the need for a middle ground with corporate regulation, since too much regulation has proven to be stifling, and too little regulation can lead to scandals such as at Enron and the current meltdown of Wall Street.
From the Paper:"Among the saddest aspects of Enron's collapse is that thousands of honest investors who trusted the company to deliver honest reports were left "holding worthless stock," Bauman explains. Many of those investors "lost their life savings," Bauman continues. The PBS report mentions that then President George W. Bush had received substantial political donations from Enron, but so did many other politicians, in Texas and elsewhere. But aside from all the losses and personal financial disasters surrounding this matter, the root of the scandal is ethics."
Sample of Sources Used:
- Bauman, Elisabeth. (2002). Not Business as Usual. Public Broadcasting Service. Retrieved March 9, 2009, from http://www.pbs.org.newshour/extra/features/jan-june02/enron.html.
- Conroy, Stephen J., & Emerson, Tisha L. N. (2006). Changing Ethical Attitudes: The Case of The Enron and ImClone Scandals. Social Science Quarterly, 87(2), 396-401.
- Jickling, Mark. (2002). The Enron Collapse: An Overview of Financial Issues. CRS Report For Congress. Retrieved March 8, 2009, from http://fpc.state.gov/documents/organizations/9267.pdf.
- Johnson, Craig Edward. (2008) Meeting the Ethical Challenges of Leadership: Casting Light On Shadow. New York: Sage Publishers.
- Markkula Center for Applied Ethics. (2002). Lessons from the Enron Scandal. Santa Clara University. Retrieved March 10, 2009, from http://scu.edu/ethics/publications/ethicalperspectives/enronlessons.html.
Cite this Term Paper:
Ethics and Enron (2010, December 30) Retrieved December 01, 2022, from https://www.academon.com/term-paper/ethics-and-enron-146513/
"Ethics and Enron" 30 December 2010. Web. 01 December. 2022. <https://www.academon.com/term-paper/ethics-and-enron-146513/>