enron: the smartest guys in the room essay
20 十二月 2020

As in any organization, Abstract ⏰ Let's see if we can help you! Enron: The Smartest Guys in the Room shows us how basic human nature does not change, whether it's in the easy fall into killing as a means to resolve disputes, or in the incessant human obsession to acquire for, Introduction The company, having been ranked among the country’s top ten firms, had to look for avenues to keep its feet on the economic ground and avoid at least as much as possible any eventuality that could lead to its collapse. "Enron: The Smartest Guys in the Room." Reactions such as thoughts, emotions and actions within or around an entity form the behavior. We can custom-write anything as well! There are so many things that went wrong within the organization, from all personal (prescriptive and psychological approaches), managerial (group norms, reward system, etc. This is IvyPanda's free database of academic paper samples. ...The Smartest Guys in the Room The movie called the smartest guys in the room, narrates the process that how does Enron Corporation, one of the world’s major electricity, one of the world's major electricity, natural gas, and communications companies, with claimed revenues of nearly $111 billion during 2000, went bankrupt eventually. Enron: The Smartest Guys in the Room was a documentary film showing the real story of the largest business scandal in the U.S. where top executive officers in Enron Corporation squandered over one billion American dollars … Print. Read Movie Review On Enron: The Smartest Guys In The Room and other exceptional papers on every subject and topic college can throw at you. Enron’s ride is quite a phenomenon: from a regional gas pipeline trader to the largest energy trader in the world, and then back down the hill into bankruptcy and disgrace. ), and organizational (world-class culture) perspectives. This paper will focus on the business ethics issues at Enron that were. Organizational theory ensures that issues facing an organization are resolved and responsibilities undertaken. It is this need to protect its gained untrue competitive status that the company had developed which fuelled its cover up avenues. Enron Company experienced a crisis to its collapse in the year 2001 which was culminated by application for bankruptcy. But a chain of events lead to an enormous shock on the Wall Street and went down in … Tesfatsion, Leigh. Do not answer them one by one; you should craft a college-level essay with a strong introduction, body, and conclusion, using APA formatting. That’s in human nature. Being said that, the corporation owes all stakeholders the obligations to meet their interests. Consequently, they were discouraged and probably lost interest in working for the company. The top officials also had to make their way to quick wealth even at the expense of the firm. That’s in human nature. In addition to being the largest bankruptcy reorganization in American history at that time, Enron was attributed as the biggest audit failure. Organizational theory. This meant that the practices and records of the company were exempted from scrutiny that is normally done over business entities. IvyPanda, 13 Jan. 2020, ivypanda.com/essays/enron-the-smartest-guys-in-the-room/. 📚 Enron, the smartest guys in the room - essay example for free Newyorkessays - database with more than 65000 college essays for studying 】 Need a custom Essay sample written from scratch by The future value accounting just shows a list of future profit that was predicted. ENRON: The Smartest Guys in the Room (Links to an external site.) The action obviously made Enron financial data look good, but at the same time deceived the company’s investors about the real performance. Relate what happened at Enron to the fraud triangle and give specific examples for each of the elements (Pressure, Opportunity, and Rationalization). Finance Laws, 2010. Ethics and corporate social responsibility: why giants fall. The environment that was created in the Enron Company that forced it into its desire to competitive was a significant development into the subsequent practices that compromised the business. January 13, 2020. https://ivypanda.com/essays/enron-the-smartest-guys-in-the-room/. Garsten, Christina and Hernes, Tor. Under the deregulation, the company’s “executives were permitted to maintain agency over the earnings reports that were released to investors and employees alike” (Laws 1). Ken Lay, Jeff Skilling, and the rest of the executive members of Enron believed they were more intelligent than the rest of the world and tried to play above the rules in order to beat the system, while ultimately backfired. Write a Paper on the movie “Enron: The Smartest Guys in the Room” and the audio “Why Do We Cheat?” (from an episode named “Our Buggy Brain”) Need help with this Essay/Dissertation? The collapse was a result of a long time venture into unchecked practices by the company through its executives. Any alteration to such terms should be undertaken in a way that will motivate the employees. November 10, 2020 | By conclusion about friendship essay | 65 Gregory and which does not mean, however, the enron smartest guys in the room research paper that had a slight fillet. Web. These executives placed their own agendas over the employees and public, and neglected to accept responsibility for ethical downfalls or use appropriate management. Essay Exam #3 Enron After viewing the film Enron: The Smartest Guys in the Room, please answer the following questions: 1. and watching the ENRON film, write an essay on any three of the following questions. That brings in the ethical issue of conflicts of interest, one of key problems at Enron. Enron is also one of the most celebrated business ethics cases in the century. We will write a custom Essay on Enron: The Smartest Guys in the Room specifically for you for only $16.05 $11/page. The desired competitive culture is therefore responsible for driving the organization into actions that were meant to protect the firm but which later spilled to its collapse. . Apart from intentionally concealing its true financial status, the company also engaged in practices that were fraudulent in nature. One of the causes of the malpractices was the competitive nature that the company had, or was assumed to be having. The movie entitled “ENRON: Smartest Guys in The Room is based on a book with the same title written by Bethany Mclean and Peter Elkind. Free Example of Enron, the Smartest Guys in the Room Essay The fast rise of power and downfall of Enron, an energy company with the assets appraised at 111 billion dollars at its height, reflect the most infamous corporate fraud and liquidation in the US history. The company’s money was then channeled by the management to their accounts or those that belonged to their friends of relatives (Tesfatsion 1). Accounting malpractices such as “reduced tax payments, inflated incomes and profits and inflated stock piece and credit rating” (Tesfatsion 1). The primary value operating among the traders was greed, money, and how to make profits under any circumstance. Art Anderson, Ken Lay and all of the other executives did a number of unethical things which ultimately brought down Enron and affected thousands of employees and their futures. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. The paper "Enron: The Smartest Guys in the Room" informs about the company Enron that was suffering from huge losses and the financial statements manipulation was just a StudentShare Our website is a unique platform where students can share their papers in a matter of giving an example of the work to be done. Cases of unethical behavior, poor organizational culture together with disregard to organizational theories and behavior contributed to the firm fall. Enron: The Smartest Guys in the Room Synopsis Arie Marie Wilson University of Phoenix Enron: The Smartest Guys in the Room Synopsis Enron was considered the seventh largest company in America valued at seventy billion dollars that went bad. It was actually this desire that led to the company’s loss of ethical practices as anything had to be done in order to protect the organization’s hidden secrets. Information about losses and debts by the company were not fully reported portraying an untrue status of the company. This essay on Enron: The Smartest Guys in the Room was written and submitted by your fellow student. As a result, the unreal profitability status of the company stimulated its then existing and potential investors into putting money in the company. This paper will focus on the business ethics issues at Enron that were raised from the documentation Enron: The Smartest Guys…show more content… The company’s stakeholders include primary groups of customers, employees, shareholders, owners, suppliers, etc. The major cause of the collapse of a once prominent company was its selfish leadership that disregarded management’s elements such as organizations theories and behavior leading to inappropriate culture and ethics and practices. This paper seeks to discuss organizational theory with respect to Enron Company that was forced into collapse. As a result of the deregulations, Enron was able to make biased representations of its records to parties who could be interested in such data. The company’s stakeholders include primary groups of customers, employees, shareholders, owners, suppliers, etc. Copyright © 2020 - IvyPanda is a trading name of Edustream Technologies LLC, a company registered in Wyoming, USA. The actions of Enron’s management that was evidenced in their embezzlement of funds, malpractices and disregard to employees form behavior that led to the collapse of the firm (McShane and Steen 1). Prior to watching the movie "The Smartest Guys in the Room" and learning in class in depth about the Enron scandal and the counterparts that had hands in it I didn 't know much about it nor the effects it had on the way companies are regulated today. We utilize security vendors that protect and ensure the integrity of our platform while keeping your private information safe. What’s your deadline? Enron made their stock sky rocket through unethical means, and in reality this company kept losing money. Print. and secondary groups of community. "Enron: The Smartest Guys in the Room." The … Motivational theory for instance provides that a management should understand the terms of contracts of its employees under psychological considerations. Enron scandal overview The Enron scandal was a financial scandal involving Enron Corporation and its accounting firm Arthur Andersen, that was revealed in late 2001. The company was not making profit so they decided to do “future value accounting”. When the sequence that represents a work environment. (2020) 'Enron: The Smartest Guys in the Room'. This is a review of the movie, Enron: The Smart Guys in the Room. Personality theory explains that these traits never lead to long term success. IvyPanda. The firms can therefore be said to have ignored organizational theories (Barzilai 1). Web. And that’s when the collapse begins. Enron Company was characterized by a number of problems in the form or malpractices that led to the eventual collapse of the entity. The company is being a striking example for a collapse, which was purely due to corporate and individual greed and that today it has lead to strong business problems all around the world. 13 January. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. Since it’s such leadership that should “create, reinforce or change the organization’s culture” through “attention, reaction to crises, role modeling, and allocation of rewards” among others, a compromising leadership in the organization was a cause to its problem (Garsten and Hernes 107). This is why the firm’s employees were driven to high targets even if they were to break rules. The company could not afford to compromise its credit rating which would translate into its stock prices and its investor’s attitude. Enron: the Smartest Guys in the Room. Enron is for instance reported to have been inducing problems in transmission of electricity in order to gain more revenues as it posed to solve the unreal problems. Organizations behavior refers to people’s reactions with respect to an organization. The Smartest Guys in the Room 2 February 2017 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… Get in touch Essay & Dissertation Writing services. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. Enron Case Review: The Smartest Guys In The Room 975 Words | 4 Pages. But a chain of events lead to an enormous shock on the Wall Street and went down in history as one of the biggest business scandals. Management should therefore ensure that roles are allocated in a manner that is not oppressive because this can cause conflicts among employees. January 13, 2020. https://ivypanda.com/essays/enron-the-smartest-guys-in-the-room/. CFO Andrew Fastow created financial partnership to hide Enron debt, from which he allegedly collected $30 million in management fees. Enron: The Smartest Guys In The Room Differences And Similarities Between Descriptive And Prescriptive Strategies Discuss The Key Issues Concerning The Effectiveness And Likely Consequences Of A Shrm Approach, Including The Potential Performance Benefits And How Organisational Performance Can Be Improved Through The Shrm Approach The application for deregulation by the company seems to have been a planned move to help it conceal its malpractices that was to follow the grant. As the movie suggests, Enron is “not, In review of the Enron case, executives higher up exploited their privileges and power, participated in unreliable treatment of external and internal communities. 2020. In each of these research pieces, it is discussed and debated on if groups, networks or organizations affect how society operates. Laws. Introduction. Each of these significe a different piece of the puzzle we are trying to solve about society. Organizational Theory, n.d. You can use them for inspiration, an insight into a particular topic, a handy source of reference, or even just as a template of a certain type of paper. These practices were for a long time concealed from the public and the company’s stake holders such as its investors. Enron, once a dormant natural gas pipeline company grew to become the seventh largest publicly-held company in the United States, collapsed in December 2001 because of its “Ponzi” schemes and shoddy business practices. “Enron: The Smartest Guys in the Room” is a 1 hour and 50 minute film explaining, The 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. As a matter of fact, it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets, and 24 days to go bankruptcy. Organizational theory refers to the study of organization with the aim of identifying themes into an organization’s objectives. Though unethical values can be checked and controlled easily in an organization that has an ethical top brass that is ready to influence and control ethics in the organization, it is very difficult to first of all detect and then even control such practices if they manifest in an organization’s top management. January 13, 2020. https://ivypanda.com/essays/enron-the-smartest-guys-in-the-room/. The theory of moral muteness played a large role in the collapse of Enron. The firm then went into experimental activities that stretched its workers through continuously raised standards that forced the workers off ethical values. New York, NY: Taylor & Francis, 2008. 1. What type of assignment 📝 do you need? Fraudulent activities inside a co Organizational theories that help managers into understanding their activities were for example greatly ignored by the organization. Role theory on the other hand provides that an organization recognizes the efforts that employees are putting with respect to their roles. The short term objectives that the organization relied on that for instances forced its workers into unethical measures in order to meet the company’s high standards and the accounting malpractices that the firm employed fell short of professional expectations of management. It similarly led to adoption of compromised accounting practices that were also meant to hide the true status of the company (Garsten and Hernes 107). Enron was formed in 1985 by Kenneth, 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. Enron: The Smartest Guys in the Room is a documented that was produced in june 2006 as a reflection of the 2003, bestselling book with the same name. IvyPanda. Sims records that the Enron Company was also a victim of its own culture of greed that was formed after the energy industry was deregulated. For full functionality of this site it is necessary to enable JavaScript. Sims, Ronald. 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. Personality theory also explains the eventuality of the firm. Write my Essay on The Smartest Guys in the Room. The documentary, “Enron: The Smartest Guys in the Room,” provides an in depth examination of Enron and the Enron scandal. Arora The Smartest Guys in The Room BAT4M Patel The Enron Scandal, one of the most controversial events to ever take place in the corporate world. When people hear the name Enron they automatically associate their name with one of the biggest accounting and ethical scandals known to date. On the contrary, the firm contravened its employees’ psychological contracts by continuously hiking their targets. The firm had strived to be one of the best and gained favor with the business community, including the press that helped in refining the company’s image. There was a vast number of ethical issues raised in the movie “Enron-the Smartest Guys in the Room” but the four I am going to focus on are listed below. Iowa University, 2011. Directed by Alex Gibney, the film looks into the collapse of Enron Corporation that led to criminal trials of the company’s top directors. . The company for example posed an energy crisis in the state of California in the year 2000. Enron: The Smartest Guys in the Room is a 2006 documentary based on the identically named bestselling book written by Fortune Magazine reporters Bethany McLean and Peter Elkind. In the film, Enron-the Smartest Guys in the Room, the illegal activities of 4 major characters are revealed: Kenneth Lay, Jeffrey Skilling, Lou Pai, and Andrew Fastow. IvyPanda. Enron was involved in American’s largest corporate bankruptcy. The traders thought that a good trader is a creative trader and the creative trader can find any arbitrage opportunity, prompt, I will be discussing a film called “Enron: The Smartest Guy in the Room”, An article written by Max Weber, “Bureaucracy”, and lastly a piece written by Gwynne Dyer called “Anybody’s Son Would Do”. Many investors may make their investing decisions based on those false data. The paper will then analyze the problems and then look into organizational behaviors and theories that affected the company. Factor That Led To Enron's Downfall The paper will look into the issues that faced the company leading to its collapse. (2010). The Media and Environmental Awareness Essay, Essay about Comparison of Michelangelo8217s and Bernini8217s Davids. This documentary is entitled Enron: The Smartest Guys in the Room for that very reason. The failure by Enron Company leading to its collapse was based on the firm’s deviations from principles that ought to have guided it through to its success peak. In viewing “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. The high targets that were set for the workers were at the same time not healthy as they were forced to overstretch their capacities (Sims 150). The bright guys at Enron wanted a faster achievement of objectives for the firm as well as for themselves. ‘Enron: The Smartest Guys In The Room’ Frauds and financial scandals in the business world were before an Enron’s case and will be after it. 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. film reflection. Your privacy is extremely important to us. It is revealed that the management was driven by selfish motives that aimed to enrich the top individuals and disregarded the organization and its other stakeholders. Unfortunately, your browser is too old to work on this site. IvyPanda. While employees want secure jobs with high earnings; customers want quality products with cheap prices, which may eventually result in the company and employees’ low income. Enron was a Houston based energy, commodities and services company. And what a piece of work these men were. This essay on Enron: The Smartest Guys in the Room was written and submitted by your fellow student. The example of Enron, chronicled in the film "Enron: The Smartest Guys in the Room" (2005) seems to be prescient of the kind of corporate arrogance we are seeing in America today, that has precipitated yet another, even worse financial crisis. As people were busy investing the company, the management was on the other hand looking for avenues to channel the company’s finances into pockets of individual executives. Browse more than 30 other categories of academic papers. Barzilai, Kathryn. According to the documentary Enron: The Smartest Guys in the Room, it seems that one major reasons that led to Enron's down fall was; unethical corporate behavior, Essay about Enron: The Smartest Guys In The Room. The database is updated daily, so anyone can easily find a relevant essay example. Consequently the accounts, which were presented by the company, continually attracted more people to the company in the form of investors. Retrieved from https://ivypanda.com/essays/enron-the-smartest-guys-in-the-room/. The company was then reported to have a high level of misrepresentation of its records to its investors and potential investors. These increased supposed investments were embezzled by the company’s executives rather than being put into the company and further misrepresentations made. Please provide a causal explanation of their illegal behaviors by drawing from the specific theories of white collar crime motivation to answer the following questions: 1. Money that was meant for use on the company’s activities and interests as well as those due to the company’s employees was misappropriated by the company’s top brass. Enron: The Smartest Guys In The Room essay from our essays database at Essays Bank. The movie is about a crime story and the bankruptcy of ENRON, one of the most successful and even considered as the 7th largest corporation in America, due to the fraudulent acts by the top management. and secondary groups of community. "Enron: The Smartest Guys in the Room." It is a story about people, and in reality it is a tragedy. The Enron Company was driven into collapse by a number of factors that fuelled its malpractices. Ask Why? While the top management ripped the firm of its finances through embezzlement, the firm’s other employees were not taken care of in terms of rewards or motivation. Essay Details. It is actually this embezzlement that led to the company’s insolvency (Laws 1). The paper analyses the themes that contributed to the downfall of Enron. In Enron, the problem was an organized scandal that was planned and started by the organization’s founder and then fuelled by the company’s executives. In 1985, ENRON Corporation, was a company that delivers pipeline for natural gas and electricity, while mergering with Houston Natural Gas and Internorth. There have also been many educational films produced as a result of unethical behavior in the business world, including Enron: The Smartest Guys in the Room (Cox), which is commonly used to evaluate how students perceive correct and incorrect ethics, respectively. professional specifically for you? Canadian organizational behavior. The type of individuals that ran the company was characterized by a high level of impatience with respect to their targets. (2020, January 13). The film, produced by Alex Gibney is an explicit demonstration of how reputable corporations can tumble down because … A good ethical leadership could have for example advised against the practices that were going on in the firm or even informed the public of the happenings. Canada: McGraw-Hill, 2009. This was shown to shareholders so they can spend money and invest in Enron. Essay,Pages 2 (452 words) The Smartest Guys in the Room is the story of one of history’s greatest business scandals, in which top executives of America’s seventh largest company walked away with over one billion dollars while investors and employees lost everything. Enron: The Smartest Guys in the Room. ENRON quickly grew into a reputable company that generated enormous profits. To read the essay’s introduction, body and conclusion, scroll down. The folllowing sample essay on Ethical Issues In Enron The Smartest Guys In The Room discusses it in detail, offering basic facts and pros and cons associated with it. Future value accounting just shows a list of future profit that was predicted their own agendas over the.! Credit crisis, the corporation owes all stakeholders the obligations to meet interests... Money in the Room. funds by top officials and a subsequent accounting cover.! 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