Enron A Look At Ethics - 994 Words

Enron: A Look at Ethics Enron is known worldwide for being responsible for one of the largest corporate scandals in U.S History (History.com Staff). This once well-respected corporation rose as high as number seven on Fortune magazine’s list of the top 500 U.S. companies and employed over 21,000 people (History.com Staff). However, after failed attempts of hiding their large-scale corporate fraud, corruption, and scandalous activites, the corporation was forced to file for bankruptcy which ultimately led to the collapse of the entire corporation (Wall Street Club). Enron was formed in 1985 after the merging two gas companies, Houston Natural Gas and Inner North. Under the supervision of chief executive officer, Kenneth Lay, Enron profited tremendously from the deregulation of the natural gas industry, which gained them substantial credibility on Wall Street (Watkins). In an attempt to achieve further growth, began investing billions of dollars in foreign projects and trading v entures (History.com Staff). Also, a team of executives was hired under the supervision of Jeff Skilling to speculate the market (Watkins). By 2001, Enron had become a conglomerate that both owned and operated gas pipelines, pulp and paper plants, broadband assets, electricity plants, and water plants internationally (Wall Street Club). Some of Enron’s overseas investments were unsuccessful which caused the company to incur losses. However, in a desperate attempt to satisfy its stakeholders, EnronShow MoreRelatedThe Ethics Of The Enron Case1622 Words   |  7 PagesIntroduction The Enron case is well known for being the largest corporate bankruptcy in American history. Thousands of people world-wide lost billions of dollars, lost life savings, and lost their jobs. 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In order to stop unethical behavior within an organization, there must be a way employees to discuss their experiences with someone outside the organization. This creates a firewall between employees and management where fear of retribution for their actions does not exist. Addressing unethical behavior quickly and