Ethics
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BUSINESS ETHICS AND CORPORATE GOVERNANCE
ASSIGNMENT ON ENRON’S FALL
Submitted to Submitted by
Dr. Abhishek Ranga Amit Gajera (33)
Kaushik Bose (40)
Manisha Bansal (46)
Nidhi Singh (54)
PREFACE
When Enron conducted a name-recognition survey in 1996, it found that ordinary people were guessing that Enron was a politician or a science- fiction weapon. Now in 2002, and Enron needs no introduction. Like Watergate, it has entered the collective vocabulary as a one –word symbol of a entire regime. Enron now represents greed and hubris, deceitful accounting and Wall Street favour, and, in short, every-thing that’s wrong with corporate America.
As a familiar as the word has become, the accrual story of Enron’s decline from business superstar to embarrassing bankruptcy is still not well understood. How did a $100 billion company collapse in a matter of weeks? What were the partnerships that shocked Wall Street and damaged some of its venerable reputations? Who were the people behind this complex enterprise? This report tried to explain and cover all aspects of story what happened from beginning to end.
Other accounts of the Enron scandal have concentrated on the company’s decline but the story really begins with the creation of the company in 1985. The fall of Enron would not be
possible were if not for the preceding rise, and the company’s missteps- both international and unintentional- were not possible had it not enjoyed success early on. Those successes were what drew us to the story originally, and then our interest rose as this flourishing company began to encounter great difficulties. When we saw a case...
ASSIGNMENT ON ENRON’S FALL
Submitted to Submitted by
Dr. Abhishek Ranga Amit Gajera (33)
Kaushik Bose (40)
Manisha Bansal (46)
Nidhi Singh (54)
PREFACE
When Enron conducted a name-recognition survey in 1996, it found that ordinary people were guessing that Enron was a politician or a science- fiction weapon. Now in 2002, and Enron needs no introduction. Like Watergate, it has entered the collective vocabulary as a one –word symbol of a entire regime. Enron now represents greed and hubris, deceitful accounting and Wall Street favour, and, in short, every-thing that’s wrong with corporate America.
As a familiar as the word has become, the accrual story of Enron’s decline from business superstar to embarrassing bankruptcy is still not well understood. How did a $100 billion company collapse in a matter of weeks? What were the partnerships that shocked Wall Street and damaged some of its venerable reputations? Who were the people behind this complex enterprise? This report tried to explain and cover all aspects of story what happened from beginning to end.
Other accounts of the Enron scandal have concentrated on the company’s decline but the story really begins with the creation of the company in 1985. The fall of Enron would not be
possible were if not for the preceding rise, and the company’s missteps- both international and unintentional- were not possible had it not enjoyed success early on. Those successes were what drew us to the story originally, and then our interest rose as this flourishing company began to encounter great difficulties. When we saw a case...