A Corporation With No Morals
Some teenagers today, may not know what business ethics are. Well, business ethics is the difference between right and wrong in the business realm. There are so many companies with good business ethics but in our world we only hear about the companies with the bad ethics. One of those companies is called Enron. Enron is a gigantic corporation that deals with the electrical power in Dallas, Texas. Enron may have destroyed many people's lives due to the company declaring bankruptcy. Enron's collapse has devastated the world; especially the market place because no one thought that a corporation that big would ever fall. What the Enron executives did was morally despicable, lying to their fellow "blue collar" workers and not telling them the truth behind all of Enron's debts. "In the space of five days last week, the story of Enron's collapse went from the merely unusual to the truly baroque, with plot elements lifted from the pages of Robert Penn Warren and John Grisham" (Time Feb 2002 18). Enron executives have brought loads of controversy upon themselves. How does the seventh wealthiest corporation collapse? Why did it collapse? Who was behind all of this? Questions like these are wander
In conclusion Enron is perfect for the saying "you can't read a book by its cover." Enron was one of the wealthiest corporations in America but now it is a pile of dust. Most importantly the Enron scandal shows the absolute requirement for boards of directors, executives and everyone else in the business world to accept the moral responsibility for honesty (America 4). Although the foundation of our economic system is to maximize return for shareholders, it provides a well-organized capitalism. As we all can see now is that the system can be easily destroyed by the wickedness and greed of a few. With Enron, we are able to see the wages of immorality: the suffering of many hardworking people who have lost their life's savings. Enron was a corporation that was built up through loans or "fake money". One would call it fake money because Enron really had no clue on how many debts they owed and how many loans they had. "Enron avoided paying federal income tax for four out the last five years and instead received millions of dollars in federal-tax refunds. Enron ran into financial trouble while transforming itself into a company that traded energy, water, weather derivatives and anything else it could turn into commodity" (Time Jan 2002 19). At the close of the financial year, the company issues its annual report, which includes a statement of income and a balance sheet that shows how much the company owes and is owed. At the end of the annual report, the accounting firm signs its corporate name to a statement attesting that the report "fairly represents" the current financi
Some common words found in the essay are:
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Approximate Word count = 1075
Approximate Pages = 4 (250 words per page double spaced)
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