The Fraud of Enron's Management
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The paper discusses how Enron was totally lacking operations management with no ethical management decisions and no corporate responsibility. The paper identifies the factors that contributed to Enron's failure in strategic, tactical, operational and contingency planning. The paper also shows how instead of honest management planning that would change the company, Enron's managers responded to their tactical failures with fraud, insider trading, private illegal partnerships, falsified accounting reports and even phony partnerships, and this is what led to their downfall.
From the Paper:"The first public perception of Enron's decline came August 14, 2001. Jeffrey Skilling, a chief executive, announced his decision to resign from Enron, and had sold nearly 450,000 shares of stock before leaving the company. This is noted as the beginning of the Enron downfall. Skilling was later indicted on multiple federal felony charges of fraud and is currently serving a 24 year sentence (Wikipedia, 2008).
"When a company's management chooses to compromise its ethics, legality, and integrity, it begins digging its own grave. Former Enron executives can likely attest to this. Poor decision making, deceitful business practices, and corrupted management led to the decline of Enron. In 2000, Enron claimed revenues of over 111 billion dollars (Wikipedia, 2008). It was praised and rated highly by Forbes magazine among others. Now, Enron is remembered as one of the largest corporate failures in history."
Sample of Sources Used:
- Erven, B. L. (n.d.) The Planning Function. Retrieved February 9, 2008, from the Department of Agriculture Economics, Ohio State University Extension Web site: http://extension.osu.edu/~mgtexcel/Planning.html
- Kurdina, A. (2005, August 14) The Collapse of Enron Managerial Aspects. Retrieved February9, 2008, from EzineArticles.com Web Site: http://ezinearticles.com/?The-Collapse-of-Enron:-Managerial-Aspects&id=59932
- Taylor, J., & Van Doren, P. (2002, January 29) The Enron Blame Game. Retrieved February 9, 2008, from The Cato Institute Web Site: http://www.cato.org/pub_display.php?pub_id=3381
- Wikipedia, (2008) Enron - Wikipedia, the free Encyclopedia. Retrieved February 9, 2008, from Wikipedia.org Web Site: http://en.wikipedia.org/wiki/Enron
- Wheat, A. (n.d.) System Failure Deregulation, Political Corruption, Corporate Fraudand the Enron Debacle. Retrieved February 9, 2008, from Multinational MonitorEnron Web Page: http://multinationalmonitor.org/enronwheat.html
Cite this Term Paper:
The Fraud of Enron's Management (2010, February 12) Retrieved September 30, 2023, from https://www.academon.com/term-paper/the-fraud-of-enron-management-118643/
"The Fraud of Enron's Management" 12 February 2010. Web. 30 September. 2023. <https://www.academon.com/term-paper/the-fraud-of-enron-management-118643/>