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Essay / Research Paper Abstract
A 6 page paper that explains some of the things that happened in this corporation. The essay comments on the facts at Enron that would have influenced their strategic, tactical, operational and contingency plans. The writer points out that exactly who knew what and for how long is still unclear, which makes it difficult to analyze the planning processes. Bibliography lists 4 sources.
Page Count:
6 pages (~225 words per page)
File: MM12_PGenrn08.RTF
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Unformatted sample text from the term paper:
viewed as one of the most innovative companies in the world. Founder and CEO Kenneth Lay was applauded for the success of the company. As we all know, that all
came crashing down in October 2001 when the company reported a third quarter loss of $638 million (FOX News Network, 2005). At the same time, the company reported a $1.2
billion loss in the value of its stock (FOX News Network, 2005). Shortly after the announcement of the losses, Andrew Fastow, the chief financial officer was ousted. Prior to that
time, however, in February 2000, Lay had stepped down from the CEO position but remained Chairperson of the Board (FOX News Network, 2005). Jeff Skilling was appointed CEO but resigned
six months later with Lay resuming the CEO position (FOX News Network, 2005). Skilling had been the driving force to take Enron from operating pipelines to trading electricity and gas.
It would come to light that CFO Fastow had set up numerous partnerships but they were like dummy companies (Leonard, 2001). These companies would borrow billions of dollars and
turn around and invest those billions in Enron (Leonard, 2001). These illegal, unethical actions earned the involved executives millions of dollars and along with other accounting issues, would bring the
collapse of the company. One can only conclude that these executives decided that it was worth the risk to take actions that were unethical, illegal and certainly socially unacceptable but
that resulted in them gaining millions of dollars. The actions of Enron were not impulsive, they had to have been planned and covered up for some length of time and
they had to have had the support of other professionals, such as auditors, brokers and others to succeed. For years, Enron had argued the company could not be more transparent
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