The Ethical Failures of Enron
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This paper suggests that Enron's collapse, destroyed internally by the embezzlement, misrepresentation and greed of their leaders, demonstrates the need for strong, defined and enforced business ethics codes if large and small corporations are to be sustained long-term. Next, the author details the rise and fall of Enron and evaluates the resulting Sarbanes-Oxley legislation. The paper concludes that the case of Enron and several other companies unfortunately has demonstrated to many corporate criminals that the opportunities for financial gain from unethical behavior outweighs at least short term the possible reprimand.
From the Paper:"When the company's collapse became inevitable, its shareholders collectively pulled out, forcing the company to file for Chapter 11 bankruptcy. Its ethical misappropriation would send a shock wave through the corporate world, contributing to the outright dissolution of control over Arthur Andersen, the destruction of Enron's employee pension fund, the onset of a federal probe into the company's clear improprieties and the consequent revelation of an epidemic of corruption in the corporate world at large. And to this last effect, as with Enron, for many other companies guilty of the same fraudulent practices, the consequences would be total collapse."
Sample of Sources Used:
- BBC News. (2002). Enron Scandal at-a-glance. British Broadcasting Company. Online at <http://news.bbc.co.uk/2/hi/business/1780075.stm>.
- Bryce, R. (2004). Pipe Dreams: And the Death of Enron. Public Affairs.
- Fox, L. (2003). Enron: The Rise and Fall. John Wiley & Sons.
- Fusaro, P.C. & Miller, R.M. (2002). What Went Wrong at Enron? John Wiley & Sons.
- George, B. (2003). Authentic Leadership: Rediscovering the Secrets to Creating LastingValue. Jossey-Bass Publishing.
Cite this Term Paper:
The Ethical Failures of Enron (2011, August 23) Retrieved April 19, 2021, from https://www.academon.com/term-paper/the-ethical-failures-of-enron-148012/
"The Ethical Failures of Enron" 23 August 2011. Web. 19 April. 2021. <https://www.academon.com/term-paper/the-ethical-failures-of-enron-148012/>