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Essay / Research Paper Abstract
This is a 6 page paper that provides an overview of WorldCom's bankruptcy. Contributing factors are analyzed. Bibliography lists 5 sources.
Page Count:
6 pages (~225 words per page)
File: KW60_KFwcombk.doc
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Unformatted sample text from the term paper:
paper explores the culpability of various involved agents in perpetuating the WorldCom fraud to the point where internal organizational collapse was inevitable. The role of independent auditing in mitigating disasters
of this sort is emphasized, as well as the potential for the hypercompetitive industrial market to drive incentives for fraudulent behavior among accountable executives. Ultimately, the bankruptcy is cast as
a herald for the standards that would undermine world commerce in the 21st century and which would repeat in the Enron disaster just a few years later. Paper
When computer technology first began to become commonly available to consumers in the mid-1990s, it heralded a major change in world culture. Companies such as CompuServe and AOL commoditized
access to the internet into an affordable format through dial-up telephony, and communications would never be the same. Soon, millions of people were "online", and the establishment of an ad
hoc marketplace there was simply too tempting for corporate-minded individuals to ignore. Almost overnight, corporate influence began seeping into the internet, and telecommunications became one of the most lucrative markets
in the world. Many companies were formed during this period, expecting to capitalize upon the upward mobility of telecommunications, only to find that the market was quickly glutted and could
not sustain itself; the infamous "dot com boom" around the turn of the millennium in 2000 brought a sense of reality back to the conception that the internet had made
traditional business models totally obsolete. During this process, a few major telecommunications players were dealt catastrophic blows which they could not survive; this includes WorldCom. This paragraph helps the student
provide an overview of the collapse of the telecommunications industry. From 2000 to 2002, the telecommunications industry underwent a total collapse in the United States. More than half a million
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