Enron the Smartest Guys in the Room Essay - 1834 Words

The purpose of this paper is consider three possible rationales for why Enron collapsed—that key individuals were flawed, that the organization was flawed, and that some factors larger than the organization (e.g., a trend toward deregulation) led to Enron’s collapse. In viewing â€Å"Enron: The Smartest Guys in the Room† it was clear that all three of these flaws contributed to the demise of Enron, but it was the synergy of their combination that truly let Enron to its ultimate path of destruction. As in any organization, the executives ultimately drive company policy, practices and accepted behavior. The three key executives that led Enron down its fatal path were, Ken Lay, Jeff Skilling and Andy Fastow. Like most successful leaders they†¦show more content†¦All of these factors contributed to Jeff’s unwillingness to concede his wrongdoing, right through his trial after the collapse of Enron. While Jeff Skillings’ traders were making a killing for Enron, many of their other projects were disasters. The man who allowed Enron to continue operating despite massive losses from their core operating business was Chief Financial Officer, Andy Fastow. To finance Enron’s existing activities, they needed massive amounts of capital. Most notable were the special purpose entities also known as SPE’s that chief financial officer Andy Fastow created for Enron. These off balance sheet subsidiaries were created primarily to obtain additional financing without having to tarnish its balance sheet with additional long term debt. In conjunction with these SPE’s, Andy Fastow created many complex financial structures which allowed Enron to continue its operations without having to account for debt or losses that law abiding corporations would place on their balance sheet or income statement. While complicit in the deception of investors and the general public, Andy Fastow most likely used the idea of diffused responsibility to justify his actions. Before being able to create these special purpose entities, both the board of directors and Enron’s accounting firm ArthurShow MoreRelatedEnron, the Smartest Guys in the Room.1229 Words   |  5 PagesEnron, the Smartest Guys in the Room. Enron was involved in American’s largest corporate bankruptcy. It is a story about people, and in reality it is a tragedy. Enron made their stock sky rocket through unethical means, and in reality this company kept losing money. The primary value operating among the traders was greed, money, and how to make profits under any circumstance. The traders thought that a good trader is a creative trader and the creative trader can find any arbitrage opportunityRead MoreEnron Smartest Guys On The Room1573 Words   |  7 PagesThe movie ENRON smartest guys in the room is about one of the biggest corporation corruptions in the United States. In 1985, ENRON Corporation, was a company that delivers pipeline for natural gas and electricity, while mergering with Houston Natural Gas and Internorth. ENRON quickly grew into a reputable company that generated enormous profits. In a short period of time ENRON was considered one of the top global trading company for natural gas, commodities, and electricity. According to the statistic;Read MoreEnron : The Smartest Guys Of The Room Essay1549 Words   |  7 PagesIntroduction Enron was a Houston based energy, commodities and services company. When people hear the name Enron they automatically associate their name with one of the biggest accounting and ethical scandals known to date. The documentary, â€Å"Enron: The Smartest Guys in the Room,† provides an in depth examination of Enron and the Enron scandal. The film does a wonderful job of depicting the downfall of Enron and how the corporate culture and ethics were key to Enron’s fall. As the movie suggests, Enron is â€Å"notRead MoreEnron: the Smartest Guys in the Room1989 Words   |  8 Pages it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets, and 24 days to go bankruptcy. Enron is also one of the most celebrated business ethics cases in the century. There are so many things that went wrong within the organization, from all personal (prescriptive and psychological approaches), managerial (group norms, reward system, etc.), and organizational (worl d-class culture) perspectives. This paper will focus on the business ethics issues at Enron that wereRead MoreEnron: The Smartest Guys in the Room Essay1889 Words   |  8 PagesThe thing I liked most about this documentary was the fact that it focused on the guys at the top, the self-proclaimed smartest men in the room, the so-called geniuses who knew the energy business so much better than the rest of the industry. And what a piece of work these men were. Enron: The Smartest Guys in the Room shows us how basic human nature does not change, whether its in the easy fall into killing as a means to resolve disputes, or in the incessant human obsession to acquire forRead MoreEnron Case : The Smartest Guys Of The Room1149 Words   |  5 Pages In review of the Enron case, executives higher up exploited their privileges and power, participated in unreliable treatment of external and internal communities. These executives placed their own agendas over the employees and public, and neglected to accept responsibility for ethical downfalls or use appropriate management. As a result, employees followed their unethical behavior (Johnson, 2015). Leaders have great influence in an organization, but policies will not be effectiveRead MoreEssay on Enron: the Smartest Guys in the Room5209 Words   |  21 Pagesï » ¿Enron: The Smartest Guys in the Room The  Enron scandal, revealed in October 2001, eventually led to the  bankruptcy  of the  Enron Corporation, an American  energy company based in  Houston, Texas, and the de facto dissolution of  Arthur Andersen, which was one of the  five largest  audit  and accountancy  partnerships  in the world. In addition to being the largest bankruptcy reorganization in American history at that time, Enron was attributed as the biggest audit failure. Enron was formed in 1985 by  KennethRead MoreA Film Review of Enron: The Smartest Guys in the Room666 Words   |  3 PagesAbstract This is a review of the movie, Enron: The Smart Guys in the Room. The paper analyses the themes that contributed to the downfall of Enron. It also considers steps that Human Resources would have taken given the chance, in addressing the issues that contributed to the collapse of the Company. Factor That Led To Enrons Downfall According to the documentary Enron: The Smartest Guys in the Room, it seems that one major reasons that led to Enrons down fall was; unethical corporate behaviorRead MoreEssay about Enron: The Smartest Guys In The Room1948 Words   |  8 Pages it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets, and 24 days to go bankruptcy. Enron is also one of the most celebrated business ethics cases in the century. There are so many things that went wrong within the organization, from all personal (prescriptive and psychological approaches), managerial (group norms, reward system, etc.), and organizational (world-class culture) perspectives. This paper will focus on the business ethics issues at Enron that wereRead MoreThe Smartest Guys At The Room : The Amazing Rise And Scandalous Fall Of Enron1654 Words   |  7 Pagesâ€Å"The Smartest Guys In the Room† the amazing rise and scandalous fall of Enron goes into great detail of what happens when a com pany has no ethics. It could be said that ethics was the last thing on the minds of the executives that worked at Enron. People employed at Enron cared about two things the stock price of the company, and the money they could put in their own pockets. This was what caused the fall of one of the biggest energy companies in the U.S†¦ Enron failing did not happen overnight it

The House on Mango Street Persuasive Essay - 927 Words

Name The House on Mango Street Persuasive Essay Esperanza’s New Home I would like to nominate Esperanza Codero and her family for the Extreme Makeover: Home Edition. Esperanza is a young Latino girl who is around the age of thirteen; Esperanza lives in a place called Mango Street, which is a very poor neighborhood, with her family in a nearly broken down house in which everybody has to share a room. I believe Esperanza deserves to be nominated because she has been through a great deal in The House on Mango Street. Esperanza deserves to be chosen for the show because she understands her situation and the fact that her parents cannot provide her with the essentials like a stable house and the things she wants. There are a few†¦show more content†¦Esperanza faces a large amount of adversity, which she must overcome, living on Mango Street. Esperanza knows that overcoming her situation on Mango Street will prove to be a challenge for her. â€Å"[The four skinny trees] strength is secret. They send ferocious roots beneath ground. They grow up and down and grab the earth between hairy toes and bite the sky with violent teeth and never quit their anger. This is how they keep.† (Cisneros 74) This quote describes that Esperanza can overcome her situation of being on Mango Street just like the skinny trees can grow up through the concrete. Esperanza feels that she must eventually come back to Mango Street because it was her first home. â€Å"They will not know I have gone away and come back.† (Cisneros 110) This quote symbolizes that even though Esperanza believes she does not belong on Mango Street that she is a part of it and she cannot change that. Esperanza copes with daily life by telling stories, stories of Mango Street and all those who lived on it. Esperanza’s ability to overcome the adversity in her neighborhood makes her a great choice for the show. Esperanza and her family deserve this because they have never had a stable home to call their own. Esperanza deserves to be chosen because the only thin g she has ever wanted is a home. Esperanza’s family would benefit from this because they would never forget who they are or where they came from for example when Esperanza says she will invite bums into her homeShow MoreRelatedThe Freedom Writers And Romeo And Juliet905 Words   |  4 PagesCentury Community Charter Middle School and Animo Inglewood High School. Every year in middle school and in High School english would be on my schedule, sometimes even with two different english classes a year. We read different writing pieces, wrote essays, and learned techniques that help us develop our reading and writing skills. In middle school the writing tasks were easier and funner than high school. We read books like the Diary of Anne Frank, The Freedom Writers, and Romeo and Juliet, that IRead MoreInstructive Text Types11631 Words   |  47 Pagesclassification helps to establish specific correlations between purpose and extra-linguistic context. The third chapter represent the directive instructive text type; here we have legal texts, statutory instructions, practical instructions, persuasive texts, and the last one being classified in commercial advertisements, political texts, religious and ethical appeal. I focus on these texts because I find them appropriate to daily routine, where the rules make our lives and we followRead MoreRastafarian79520 Words   |  319 Pagesof the movement, (2) the gradual rapprochement between the movement and the wider society, and (3) the impact of Rastafari on the evolution of Jamaicas indigenous popular culture. The internal development includes the emergence of a network of â€Å"houses† and â€Å"mansions† as the collective units of the movement,10 of a world view or ideology encoded in a variety of symbols, and of collective ritual activities, which initiate and conï ¬ rm individuals in the principles of Rastafari. With regard to the

Secondary Education UK and South Korea

Question: Discuss the comparision and contrast the secondary UK education system to a country of your choice. Answer: Introduction The comparison is set between the education system of UK and South Korea where there has been a clear examination of the OECD league table. UK has been considered to be on the 6th position where the education of South Korea is best in the world. At the time of the league history, UK is seen to be ahead. With changes in the Korea political leadership, there have been setup priorities and the requirements which direct to the ranking as per the education world. (Park et al., 2004). UK has been considered to be the leading change for handling a better standard in education along with the legalised system and the economic world. The world has been trying to drive the force through United Kingdom and South Korea is setting a change and development with a serious competition. The work will focus on the two systems and the factors which determined the dramatic turn of the different events in both the countries. Compulsory Education (Similarity and difference) Considering the history of education, UK has been going reforms after First World War and Second World War. In 1918, there were only education for 5-14 years. In 1947, the workforce saw the change for school leaving age is 16. These changes have been beneficial for recognising the achievers. Around 37% of the middle 25-35 year old people have been able to complete their secondary education. The major difference has been the reflection of standards of educated workforce system and the economy. (Cowen, 2000). In South Korea, in 1945, the population could not receive the formal education and by 1960, there were some normal enrolments. The compulsory education started with the setup of tuition fees criteria for supplementing the government funding. There have been highest education enrolments in the world where the population is based on Higher Education. 97% of the people between 25-34 years have been able to complete their secondary education. Funding The primary and the secondary education cost has been seen to be almost free in UK. The tertiary costs have been around $9000 in a year as per the course. The funds have been setting up for a higher education in order to enable the students towards a better and a higher education system. The history has clearly specified about the elitist which is seen to the post-war standards. (Park et al., 2015). The applicants have been seen from the educated middle or the upper class families. The Higher Education in South Korea is seen to be low with the maximum fees of the tuition of around 7600$ per academic year depending upon the course. This factors have been set a cultural belief influence with 4.9% GDP in UK and 7.6% GDP in South Korea which is above the OECD average of 5.9%. As per the higher income and status, the teachers have to go through a higher competitive process for becoming recognised for the best graduates. Quality of each system The accountability in UK has been set under the outperformance of international competition. The teachers design appropriate lesson with the diplomatic immunity. The progress is based on handling the analysis for accountability, assessments for the children. (Lindner, 2016). This will help in driving performance with aligning better to the governments with the secured best outcomes. The schools in South Korea are evaluated through the external monitoring groups which have been developed by the other provincial offices. There is a need to set the appropriate directions and the standards in order to work for the school based performance. Organisation In UK, the social economic divide has been a major issue in education. There has been a major relative gap between the parental wealth and the background that directs to the strong problems. The measures are based on variations where the schools have to work on the challenges like the gender stereotypes and the gay teenagers. This also points to handle the higher rates of suicide and the distress. The exacerbated patch by marketization is due to the middle class people who are free to make the efficient choices in UK. (Lee et al., 2016). In South Korea, there has been social economic divide which received funding from the government and accentuate for the class difference. The people without the education are considered to be unworthy. The education has been only focusing on the qualification rather than the skills of the lower class student. The parents try to prepare their children but the educational cost burdens have become so colossal that this has declined the national birth rate of the country. Conclusion The education has been the most important structure which every country should follow. This is only possible through some government operations as well as other budgetary and hiring decisions for the different respective regions. (Choi, 2016). Considering the system decentralisation of South Korean, the school needs to work on the professional development along with budget planning process to work for the country. The Metropolitan and Provincial Offices of Education are likely to spend money on the funds which are being transferred depending upon the same level organisation. Hence, UK has a much effective education system as they have been able to handle the different aspects of education with a long term understanding with the citizens of UK. Reference Park, S. J., Abelmann, N. (2004). Class and cosmopolitan striving: Mothers' management of English education in South Korea.Anthropological Quarterly,77(4), 645-672. Cowen, R. (2000). Comparing futures or comparing pasts?.Comparative Education,36(3), 333-342. Park, J. H., Lee, J. Y. (2015). School-level determinants of teacher collegial interaction: Evidence from lower secondary schools in England, Finland, South Korea, and the USA.Teaching and Teacher Education,50, 24-35. Lindner, M. (2016). What is the perception of foreign talent and its implications for the economy in a Japanese Korean comparison. Lee, H. S., DeWolf, M., Bassok, M., Holyoak, K. J. (2016). Conceptual and procedural distinctions between fractions and decimals: A cross-national comparison.Cognition,147, 57-69. Choi, T. H. (2016). Glocalisation of English language education: Comparison of three contexts in East Asia. InSociological and philosophical perspectives on education in the Asia-Pacific region(pp. 147-164). Springer Singapore.