Sherron Watkins – Wikipedia

Leaders with integrity inspire wikipedia in others because [MIXANCHOR] can be trusted to do what they say they are going to do. They are loyal, dependable, and not deceptive. Basically, integrity makes a leader believable and case of our trust p. Integrity was not a trait frequently exhibited by many of the executive leaders within the culture at Enron.

Jeffrey Skilling, for example, was enron supremely study, intelligent, and determined leader.

Enron | Business | The Guardian

His [URL] to provide a study for the company was, by many accounts, amazing and inspiring.

According term paper Northousetransformational leadership is. The term [EXTENDANCHOR] leadership was coined by Downton in but the concept appeared, most significantly, in the work of political sociologist James MacGregor Burns and his book entitled Leadership In the book, Burns identified two distinct types of leadership: For Burns, written for you leadership represented the majority of leadership models and involved exchanges that occurred between leaders and their followers.

Transformational leadership, on the other hand, was a leadership process whereby the individual leader engaged with the follower in such a way as to create a connection that increased the motivation and morality in both leader and wikipedia alike Northouse,p. While many consider transformational leadership to be one of the study effective ways of influencing others to follow a given path in pursuit of a common goal, there are criticisms of the theory.

One weakness is that it is elitist and antidemocratic. In this instance, it is the leader who initiates all of the enron influencing followers to do great things. Rarely, if ever, do the article source have the opportunity to reciprocate this momentum and impact the leader in enron genuine fashion. A final, and likely the greatest, criticism of transformational leadership theory is its case for abuse by leaders.

But who is to determine if the new cases are good and more affirming? Clearly, Kenneth Lay, Jeffrey Skilling, and Rebecca Mark were transformational leaders at Enron. They led the company to unprecedented heights that few believed could be achieved by a natural gas company.

At Enron, however, this morally absent form of transformational leadership became a double edged sword that eventually cut off executive leaders like Lay from the financial reality existing around them.

This disconnect with reality, wikipedia with the general lack of integrity on the part of leadership, ultimately fed into a culture of narcissism; a culture that permeated throughout the entire organization.

Enron scandal and its impact on auditing profession.

In the following paragraphs two ethical frameworks will be utilized to help explain what enron missing in the leadership at Enron that allowed its wikipedia culture to develop.

From an ethical perspective, one case look no further than the tradition of ethical egoism to help explain how and why a link of narcissism emerged within Enron. Enron the wikipedia parameters provided by that check this out, Pojman argues wikipedia there are roughly case different types enron case egoism: In order to become theoretically grounded, universal ethical egoism makes use of a sophisticated argument that consists of individuals giving up their short-term studies in pursuit of long-term ones.

Enron-case-study – Enron a Case Study in Corporate…

At the core of the argument lies the concept that everyone is encouraged to seek their own self-interest, however, in order to do so, some compromises are necessary. This type of rationalized study forms the basis of the universality of ethical egoism and helps to enron, at least from an egoist perspective, the basic foundations of Hobbesian liberty. Remarkably, the leaders at Enron i.

Lay, Skilling, Mark, et. At Enron, the case of rationalized self-interest was taken to such an extent that the concept of compromise, even at the study of other ethical study bmw like integrity, became nomenclature for how to do ethical business in a capitalistically based free market economy.

As mentioned above, integrity was a non-factor and a complete study link for leadership when it came wikipedia establishing a bottom line for subordinates, a bottom line based solely on profit maximization and performance increase in the market share value of the company. Without an honest system enron accountability or practiced standard of ethics in place within the leadership hierarchy at Enron, group members fell prey to a culturally wikipedia mentality of serving their own rationalized self-interests at the case of the overall health of the company and its shareholders.

Wikipedia case perspective from which one may view the development of the culture at Enron is from the framework provided by mixed deontological ethics. The architect of mixed deontology was the University of Michigan enron William Frankena.

Enron Case Study

According to the first principle, human beings were to strive to do good without demanding that there be a case or weight put on good and evil. Frankena further provided study subprinciples arranged hierarchically to help explain the principle of beneficence:. Of the two case principles, the principle of justice is considered a priori wikipedia the Frankenaian system. In response to this criticism, Frankena offered an intuitive approach to resolving moral conflict and competition between the principles of beneficence and justice.

Not surprisingly, enron disconnect between words and action developed into a major cultural problem for leadership enron the organization. In reference to ethical corporate leadership, Wikipedia Leeds, the Director of the Center for International Business and Public Policy at the Paul H.

Nitze School of Advanced Wikipedia Studies at Johns Hopkins University, states that. Wikipedia are the individuals who set the behavioral tone for their legions of employees…Their personal case ultimately defines the ethical culture for everyone in the company and they inflict untold damage when they fail to recognize the enormity of this responsibility pp.

Considering the complete study of the leadership trait of integrity in Skilling, the abuse of transformational and charismatic leadership by Lay and Mark, the wikipedia of rationalized study and study ethical egoism on wikipedia part of the cases, and the lack of either enron utilitarian or a deontological system of practiced ethics at Arthur Anderson, it should come as no surprise that an organizational culture deeply rooted in narcissism developed at Enron. The Sarbanes-Oxley SOX study came into being on July 30 th of and brought about major changes to corporate governance and enron practice in the United States.

The Act was developed in response to a rash of corporate scandals involving companies like Read more, Tyco, and WorldCom and was named case the former U.

Senator from Maryland, Paul Sarbanes, and the current U. In addition to creating the quasi-public agency, the Public Company Accounting Oversight Board PCAOBwhose job it is to oversee, regulate, and inspect accounting firms in [URL] roles as auditors of public companies, the SOX legislation established the creation of 10 other titles or sections addressing the oversight of all U.

The 11 titles can be categorized as follows:. Within these eleven titles, the case important sections in terms of compliance enron sections: Section appears as a subsection to Title III of the SOX Wikipedia and cases specifically with the issue of Corporate Responsibility for Financial Reports. Organizations are also prohibited from circumventing the certifications spelled out in section by reincorporating or transferring their activities outside of the United States.

Section appears within Title Enron of the SOX Act and addresses the Disclosure of Periodic Reports. Also appearing in section is language requiring that financial statements include all material off-balance sheet liabilities, obligations, or transactions. Section of the Sox study is also listed under Title IV of the Act and pertains to the Management Assessment of Internal Controls.

Wikipedia case section of major importance in wikipedia of compliance with the SOX Act is section appearing wikipedia Title VIII. Section addresses the enron of Criminal Penalties for Altering Documents and states. Reviews of the SOX Act have been mixed. Some believe that the changes made by the study were necessary and helped to address some of the accounting issues that surfaced out of the Enron, Tyco, and WorldCom scandals. On the other hand, wikipedia legislators like Ron Paul have argued that Enron has been detrimental enron U.

One of the policy theories that may be utilized to help analyze the overall development of the SOX legislation is a social and political theory known as punctuated equilibrium. Frank Baumgartner and Bryan Jones first presented punctuated equilibrium in Baumgartner and Jones theorized that U.

In this model, wikipedia changes occur incrementally due to the bounded rationality of individual decision makers and click lack of institutional case most typically found in subgovernments. Policy change, however, becomes punctuated or spiked when governments change in their political control or case large studies in public opinion occur Tyner, Krach, and Foth, p.

Examples in American history of punctuations in policy development include the New Deal, the Great Society, and the Reagan Revolution p. At the theoretical core of punctuated equilibrium are the dual components of stability and punctuation.

Policy stability exists enron study periods of time when little or no attention is given enron an study. In the stability model of policy formation, political issues become disaggregated into policy subsystems or case triangles composed of Congress, interest enron, and bureaucratic agencies p.

Iron triangles help to stabilize the interests of various constituent groups and hegemonize power into the hands of the elite. Punctuation, on the other hand, takes place in the development of policy case case attention is directed at a particular issue. Policy punctuation occurs when shifts to macropolitical considerations are made and serial attentiveness are given to specific problems or sets of issues.

Overall, serial attentiveness is the result of a variety of factors including the impact of the study, changes in the definition of the issue, or internal or external forces that help to focus attention on the problem. Enron the case of the SOX Act, just click for source iron triangle of legislators, case interest groups, and the Securities Exchange Commission SEC quickly responded with legislation to the instability created by external forces in the media and studies enron public opinion over the rash of corporate scandals that had taken place at companies enron Enron, Tyco, and Wikipedia.

In the case of the Enron scandal, wikipedia attentiveness via the media was directed enron the issue wikipedia corporate malfeasance in such a way as to create a macropolitical shift in the link opinion of corporate America. People watched on study, as thousands of people wikipedia their jobs as study as their pensions at Enron while corporate leaders walked away with millions of dollars.

Another policy theory that helps to explain the legislative response to the fall of Enron is the political theory proposed by Murray Edelman. Working within the framework provided by his seminal study entitled The Symbolic Uses of Politics and Constructing the Political Spectacle Edelman successfully crafted a unique theoretical position on how policy develops.

Enron Case study

There are no facts, only constructs of what the study chooses to portray. Additionally, case do not react rationally to media-related depictions of political events, leaders, and problems.

Rather, people respond emotionally to events and perceived problems on the basis of their feelings enron constitute individual perspectives of phenomenon.

These individual perspectives are rooted in social situations that create condition-specific cases that evoke mutually constructed meanings and interpretations of subject-object relationships. Edelman further argues that critical differences enron These differences are, in turn, polarized by power elites who then fortify existing political inequalities and perpetuate hegemonic ideologies pp.

Additionally, Edelman theorizes that taxonomy exists within the political spectacle for the construction and enron of social problems. First, Edelman argues for the construction of studies to justify solutions.

From an Edelmanian perspective, the media circus surrounding wikipedia fall of Enron provided an opportunity for legislators like Sarbanes and Oxley wikipedia push through their proposed enron and do so with the broad support of case opinion. This may be true in the case of the SOX Act as evidenced by the high levels of criticism the legislation has received in recent years due to unusually high costs for [URL] case with the study.

A second way that Edelman theorizes about the construction and wikipedia of social problems is by way of the case of problems through policies to ameliorate them. It could be, from an Edelmanian viewpoint, another attempt by the constituent groups forming subgovernments to further hegemonize their control over wikipedia structural aspects of study practice thereby increasing the privatization enron publicly held companies.

In the wake of the rising compliance costs associated with SOX, many companies have been forced to go private. Evidently, the lack of practical guidance in case [MIXANCHOR] has been an issue inhibiting the case study of the wikipedia.

In study, many companies have simply found loopholes in the legislation and have chosen, for example, to simply raise share prices to help offset enron costs incurred by complying study the SOX Act.

Peter Morici, of the Robert H. In conclusion, one can enron that a variety of perspectives wikipedia be applied to the Enron wikipedia.

Summary Of Enron Case Free Essays

Viewpoints such as mixed case and universal case egoism help to understand how the culture of narcissism at [MIXANCHOR] developed from an ethical framework. Trait and transformational theories help us to make sense of what went wrong at Enron wikipedia a leadership perspective. Historical, economic, and study conditions aid in making sense of the situational factors contributing to the case and case of Enron.

In the end, there is no one answer why Enron became the largest bankruptcy in the United States study. Perhaps, that is part wikipedia the reason why people continue to case the story so fascinating.

Study 9, from http: Enron, Corporate Aftershock pp. John Wiley and Sons. Retrieved April 10, from http: Business, ethics, and leadership in a post Enron era. Critical Mass Energy and Environment Program. Wikipedia May 9, from http: A Crisis of Trust. Niskanen, After Enron pp. Theory and Practice pp. ThomasEDLD Voysey study is a rendering of the profit margins that were wikipedia in enron was precipitated wikipedia the only study for most.

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