Do you know about - How Poor firm Ethics Led To The Collape Of Enron Ethics
World Finance Corporation! Again, for I know. Ready to share new things that are useful. You and your friends.The Enron Corporation was one of the largest companies which sold electricity and natural gas, distributed energy and other services like bandwidth interest connection and in case,granted risk supervision and financial services to consumers the world over. This firm became rich because of its initiative marketing and endorsement of power and communications bandwidth services and risk supervision offshoots. All these services were supervised by the operations supervision group but there existed other supervision departments which carried out half of their functions. Though these functions were purely administrative in nature, there was lack of integrity, responsibility, creativity and control. The absence of these ethics led to the bankruptcy of the company. In other words, Enron ethics was ignored by the employees while working.
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In an organization, the functions of the operations supervision group should consist of ethical values, integrity, competence and clear accountability of term papers. But Enron did not abide by these functions which led to its bankruptcy. We may say that the company's employees lacked Enron ethics. As the company's credit grew in the global world, the competition within the employees rose and hence personel greed also generated in the climate of the company's egotism. Every employee wanted to make it big, perform a lot within the company, and thus there was high motivation to ensue and earn more. But in such an atmosphere, the tendency to distrust citizen colse to is high as each is only concerned about themselves. With the mistrust among the employees booming, highly confidential term papers got used in trade contracts. Thus, trading contracts were made in secret and its admission was also kept undisclosed. Dealings in the finance section grew rapidly without paying much attentiveness towards the company's goals. Hence, the employees had started to ignore Enron ethics.
As a result, we cannot say that the problem rose due to the accounting practices only. It is not the financial group which is to be blamed solely. The problem which led to the bankruptcy of the firm lay in the operations supervision department. On one side, Enron was gaining praises from the outsiders and on the other side, it was full of decentralized financial operate and decision development structure which gave an illogical and unclear photograph of the company's activities and operations. But we cannot say that the managerial operation was poor but the departments were ruining the ethical values and system of the company. It was the duty of the managers and directors to check either Enron ethics is being followed in their firm or not. If they had supervised properly then they could have escaped from this bankruptcy tragedy.
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