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Essay / Research Paper Abstract
This 3-page paper answers questions including the causes of the Enron scandal and if legislation can prevent future instances from occurring. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: AS43_MTquestenr.doc
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Unformatted sample text from the term paper:
tempted to discuss more, imit your answer to only these two factors. There are a lot of reasons used to describe Enrons
fall. But the two that are most often used in the literature are: 1) Enrons corporate culture and 2) Enrons accounting procedures.
The corporate culture started at the top, with Ken Lay as the leader - but too all intents and purposes, he was a clueless leader, one who avoided conflict at
all costs and frequently "fed at the Enron trough" (McLean and Elkind). A great deal of nepotism and conflict of interest was seen in the upper echelons of management -
and because Lay distanced himself from the daily operations of the company, it allowed lieutenants Andrew Fastow and Jeff Skilling to get away with shaping a corporate culture that stressed
profits and success above ethics and integrity. Profit goals were set and employees were made to understand that reaching those goals was of paramount importance, no matter if the methods
were honest or dishonest. One of the corporate culture tools used was the performance review committee, or PRC - with "performance" meaning "profits"
(Thomas). Employees who didnt do deals to post earnings ended up with higher score. The higher the score, the more likely the employee would be shown the door (Thomas). This
ended up becoming known as the "15% rule" in that Skilling was known for replacing upwards of 15% of the workforce in a given year (Thomas; McLean and Elkind). Secrecy
and paranoia were the name of the game, with Lay, the head of it all, totally oblivious to the entre scenario. The need
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