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Essay / Research Paper Abstract
7 pages in length. The writer discusses management function, roles and skills; organizational and environmental challenges; and causes of Enron's lack of effectiveness. Bibliography lists 8 sources.
Page Count:
7 pages (~225 words per page)
File: LM1_TLCEnronDwn.rtf
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Unformatted sample text from the term paper:
where Kenneth Lay was CEO - and Omaha, Nebraska-based InterNorth, Enron entered into the electricity industry a short nine years later. Shortly thereafter, however, the company revealed that the
bankrupt California utility Pacific Gas & Electric Co. (PG&E) owed some $570 million (Anonymous, 2002). What happened from this point forward was the beginning of the end for Enron.
Indeed, the history of Enrons empire is nothing if not prolific. The student will want to discuss that by using what is
termed off-the-books partnerships along with convoluted accounting techniques in order to conceal losses (Berger et al, 2002), Lay and Skilling worked diligently to hide the truth from employees and investors,
who had no idea what was about to occur until it was wholly upon them. December 2001 marked the first time anyone realized what was happening, inasmuch as Enron
officially filed for bankruptcy due to its inability to hide such tremendous losses any longer. It took a matter of three month for the company to fall from its
self-proclaimed assets of nearly ?62bn into utter bankruptcy, with its share price dropping from approximately $95 to less than $1 (Anonymous #1, 2002).
At the crux of the issue is the fact that $3.85 billion in expenses was hidden from the companys financial statements in 2001 and 2002s first quarter, while still enabling
company executives to reap sizable profits despite it all (Schoenberger, 2002). Critics argued how Enrons interests - natural gas pipelines, commodity trading, (electricity, broadband capacity, weather futures, etc.) -
were not fully disclosed to the companys stakeholders, leaving much room for the scandal that ultimately occurred. II. ORGANIZATIONAL AND ENVIRONMENTAL CHALLENGES ENRON FACED THROUGHOUT ITS HISTORY
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