The company culture of enron management essay

Footnotes Intro duction In the United States today, there are more than three million tractor-trailer truck drivers the big 18 wheelersand more than 2. Seventy percent of U.

The company culture of enron management essay

Enron transformed into a high-tech global enterprise that diversified into trading energy, water, weather derivatives, broadband and electricity. Early on, problems at Enron emerged. There was a investigation of two Enron executives at the oil trading unit in Valhalla, New York that revealed offshore accounts and phony books.

While corporate leaders assured employees that there were no accounting irregularities, they quietly sold their stock in the preceding months before the bankruptcy occurred in December Meanwhile, 20, Enron employees lost jobs and health insurance.

Accounting firm Arthur Anderson was convicted of obstructing justice, and 29, people at the firm lost their jobs. In the wake of the Enron and other corporate accounting scandals, the Sarbanes-Oxley Act was passed in However, Enron should not be viewed as an aberration, but as something that can happen again Gibney, These theories will provide a framework by which to analyze organizational and managerial strengths as well as weaknesses.

The company culture of enron management essay

This framework integrates management models developed over the years and seeks to assist both organizations and managers in balancing opposing managerial concepts, such as efficient processes versus change and innovation; adaptability and flexibility versus stability and control; respect for employees versus setting demanding goals.

This versatile framework will be used to assess Enron as an organization as well as key competences demonstrated by managers that are aligned with each of the four quadrants, and in addition, it will be used to characterize the culture of the organization.

The Mintzberg triadp. This triad will be used to show that the top management team displayed similar managerial practices and postures. Within the broad frameworks of these models, the peer-reviewed literature will be used to highlight specific managerial successes and mistakes and the positive and negative effects on the organization and culture of Enron.

These corporate leaders came from families that were not well-off and they had tremendous motivation and drive to overcome the past and make a better life for themselves in the world. His parents had little formal education, but Lay dreamed of the world of business and went on to earn a Ph.

Cliff Baxter, vice chairman of Enron, was extremely intelligent and extraordinarily talented at making deals but also was manic depressive and later committed suicide after the company went bankrupt. He dispensed with glasses, got Lasik and outfitted himself with a new wardrobe Gibney, Many of the top managers were up and coming, under professionals who lacked the ability and interest in managing their young and ambitious often something staff.

Despite having a staff, he was seldom seen in the office Gibney, Based on these brief descriptive snapshots of these managers, they might complete the assessment developed by Mintzberg and Patwellas cited in Mintzberg,p. At the same time, they would describe their work in these terms: This posture is often adopted by senior managers whose focus in on connecting with others outside the organization and with navigating external political and marketplace forces.

These managers engage in deal making, negotiating and networking. Because of their external focus, these high-ranking managers depend on others to handle internal operations and they exercise little control over internal staff.

Some of these managers, such as Lou Pai, took this posture to an extreme and would be viewed as reluctant managers Mintzberg,p.We will write a custom essay sample on Corporate Culture Of Enron And Its Bankruptcy Accounting Essay specifically for you for only $ $/page Order now. Effective Business Management Practices - INTRODUCTION Personnel policies are directives in terms of policies, which the company formulates to effectively manage its .

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Introduction. A Simple Vision. How It Could Appear in Practice. ’” Enron’s corporate culture did little to promote the values of respect and integrity. These values were undermined through the company’s emphasis on decentralization, its employee performance appraisals, and its compensation program.

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