BUSI 472 Case Assignment 2 ENRON: QUESTIONABLE ACCOUNTING LEADS TO COLLAPSE
Enron was, at the time, one of America’s greatest corporate entities. Their role inexpanding the energy and services field promised a prolific future for the company. However,greed stemming from the executives and associates alike, while forgoing ethical responsibilities,ultimately caused the company’s downfall.
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Get Help Now!In an attempt to dissect and make sense of thecausations and motives behind Enron’s collapse, this paper will highlight how Enron’s culture,corporation and executives contributed to the bankruptcy and indictment of Enron.
How the corporate culture of Enron contributed to its bankruptcyEnron’s corporate culture definitely set the precedent for its demise and bankruptcy. Aculture in which employees are encouraged to pursue financial wealth in lieu of ethicalresponsibility will never truly thrive.
When a corporation ethically pursues finances, it not onlysets an appropriate tone for the market, it also sets an appropriate tone for its employees. Anexample of Enron’s failure to promote ethical responsibility is seen in their employee ratingsystem, where “employees were rated every six months, with those ranked in the bottom 20percent forced to leave” (Ferrell, 2014, pg. 287).
A system in which employees are constantlycompeting with one another, instead of working together for the success of the company, alreadycreates a recipe for disaster.
When financial growth is added into that mix, the hopes for anethical corporate culture are extremely faint. Although a corporation may tout, as Ken Lay did,that they encourage morality and reaching one’s full potential, the evidence and practices put intoplace definitely indicate otherwise.
Citing a former Enron employee, Joe Stephens and PeterBehr write that “one day, you are viewed with favor, and the next day you are not. You knowwho is in the in-crowd and who is not” (2002, pg. 2).
The fact that a corporation would allow anenvironment where each employee is focused more on pleasing the executi……………………………………
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