Enron The Demise Of Enron - 1740 Words

Enron was a corporation that reached heights unknown, only to watch it fall apart from the inside out based on a foundation of falsehoods and cheating. Enron established a business culture that flourished on competition and was perceived in society as an arrogant corporation, mainly because of its corporate leadership. The fairytale of Enron actually ended as a nightmare with it destroyed by one of America’s largest bankruptcies in history. The demise of Enron impacted the livelihood and futures of numerous employees, their pensions, and in due course impacted Wall Street in a significant way. Even people today are amazed at how such a powerful company met its demise so rapidly. Enron’s end was a product of greed when certain executives of Enron were not eager to accept the failure of their company. The company utilized mark-to-market accounting that detailed the projected impending profits from a long-term deal (Lawry, 2015, p. 28) The results of the deals did not gene rate revenue as anticipated, but tremendous loss instead. This resulted in Enron accumulating enormous amounts of debt that they attempted to keep classified from the public. Ultimately the truth came to fruition. Presently, Assurant has many formal policies in place, but as with any Fortune 500 company, informally – there is much work to be done and improved upon. Assurant may not be founded on deceit per say, but the insurance business is â€Å"business† and leaves a bad taste in many people’s mouths. Documents,Show MoreRelatedEnron : The Leading Factor That Had Enron Into Its Demise Essay1608 Words   |  7 PagesThe leading factor that had Enron into its demise revolves around the notion that, â€Å"companies are often so concerned with appearance and damage control that they are unwilling to engage in the degree of examination required to root out the entrenched causes of trust violations† (Hurley, Gillespie, Ferrin Dietz, 2013). The historical performance of Enron’s rising share prices, coupled to the constant positive media attentions, only added fuel to the fire in terms of Enron’s competitive culture.Read MoreOrganizational Culture : The Dem ise Of Enron1489 Words   |  6 Pagescorporations but some, like Enron operate parallel to the all the good they portray but in a vacuum they operate with only their selfish desires and greed. Organizational culture can be difficult to define in a sense because it’s not a palpable concept. 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