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Essay / Research Paper Abstract
In 1990 MiniScribe filed for bankruptcy, this 5 page paper looks at the way in which fraud occurred in the company in the years leading up to the bankruptcy, including use of misstatements and other fraudulent activities such as replacing disk drives with bricks and send them out. The bibliography cites 3 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEminiscribe.rtf
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Unformatted sample text from the term paper:
before. It may be argued that the problems started with the appointment of Quentin Thomas Wiles as the CEO in 1985 (Albrecht et al, 2009). There was hope that
Wiles would be able to help the firm recover after losing the IBM contract, a feat he appeared to be achieving. Wiles management style was one of a strict overbearing
style, a part of his strategy saw him laying down harshly enforced goals for each of the managers in order to increase sales (Albrecht et al, 2009). This was at
a time when there was a general decline in the market, and many firms, such as Apple, were suffering as there was also severe price cutting taking place, so it
ma be argued that when the firm reported increased revues and profits when others were suffering losses there was an indication that there was something wrong.
The problems culminated in a well known scandal where hard drives were replaced with bricks that were sold, in order to aid with cash flow and
impact on the results. The aim was claimed not to be long term fraud, but to replace the units with the correct hard drives after payment for the goods had
been received (Albrecht et al, 2009). However, this was only one aspect of the fraud and may be seen as a manifestation of the underlying problems that resulted in misstatements.
With leadership that was demanding results and the addition pressures as a result of the firm appearing to have high achievements, for
example in 1988 the firm was voted as the most well -managed personal computer disk drive company (Albrecht et al, 2009). With the pressures placed on the firm by Wiles
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