enron movie Essay - 1638 Words

Enron: The Smartest Guys in the Room A white-collar crime by definition is a crime that is committed by individuals of higher status. It is not necessarily a violent crime, but could be depending on the situation. An individual who works in a professional environment, such as the government or corporation tend to take advantage of employees and manipulate them into thinking their practices are legitimate. Some examples, of white-collar crimes include fraud, embezzlement, insider trading, and other various crimes. However, individuals who involve them selves in drugs or stealing someone’s personal possessions commit street crime. For example, it tends to be violent depending on the situation and it usually happens in a public place or†¦show more content†¦Even though Skilling was committing crimes, such as fraud, he was being recognized for his accomplishments. Mr. Skilling was training Andy Fastow to become an accomplished individual not only criminally, but financially as well. Through all that Andy Fas tow absorbed from Skilling, he started his criminal behavior. Andy Fastow created bogus companies to keep the companies debt a secret from others. With this entire event going on Fastow took money and implemented it into his personal accounts. When criminals steal money they tend to do it in small amounts, so others do not discover it, but eventually it gets to a point that it gets so out of control that the person committing the crime cannot stop because the rush is high. He felt as if what he was doing was perfectly acceptable because it should have been part of his daily routines. Since criminality is beyond social control, he had no issues committing them. He continued his behavior and Mr. Fastow only developed his ideas for the better. All of the top executives created an environment of intimate business interactions. They believed that deception was justified and â€Å"fraud is the reality† (Magnolia Home Entertainment). The final example is of Lou Pai. Lou Pai spent all his money on strippers of all things and he actually ended up divorcing his wife to marry one of the strippers because he had a child with her. Just like any company or organization people receiveShow MoreRelatedEnron Question About the Movie652 Words   |  3 Pagesconcept and rationale behind mark to market accounting and it’s significance to Enron. When the President of Enron, Kenneth Lay, hires new CEO Jeffrey Skilling, a very energetic and a â€Å"dreamer† who joins Enron on the condition that they utilize mark-to-market accounting, allowing the company to book potential profits on certain projects immediately after the deals are signed. To keep its stock price going up par example Enron began a venture that might make $50 million 10 years from now, it could claimRead More4 Ethical Issues with Enron Essay1005 Words   |  5 Pagesnumber of ethical issues raised in the movie â€Å"Enron-the Smartest Guys in the Room† but the four I am going to focus on are listed below. Art Anderson, Ken Lay and all of the other executives did a number of unethical things which ultimately brought down Enron and affected thousands of employees and their futures. The bottom line was that each and every one of them acted out of greed for the almighty dollar. 1- Encouraging employees to invest and buy stock in Enron when they knew the truth about theRead MoreThe Smartest Guys Of The Room, Or The Most Unethical?1723 Words   |  7 Pagesthere is always a cost. After a number of scandals from ethical misconduct within Enron, the proper course of action was once questionable, but now revealed. Nevertheless, organizations continue to struggle with moral decision-making on a daily basis as they consider the cost of making such decisions. Throughout this paper, I will discuss the key components of the ethical decision making process, the connection between Enron, and personal experience of making ethical decisions from employment historyRead MoreEnron : The Smartest Guys Of The Room Essay1549 Words   |  7 PagesIntroduction Enron was a Houston based energy, commodities and services company. When people hear the name Enron they automatically associate their name with one of the biggest accounting and ethical scandals known to date. The documentary, â€Å"Enron: The Smartest Guys in the Room,† provides an in depth examination of Enron and the Enron scandal. The film does a wonderful job of depicting the downfall of Enron and how the corporate culture and ethics were key to Enron’s fall. As the movie suggests, Enron is â€Å"notRead MoreThe Organization Behaviors Of Enron Essay1390 Words   |  6 PagesThe Organization Behaviors of Enron Introduction Enron is considered America’s largest corporate failure in history and is a story about greed, fraud, and human tragedy. In 1986, Houston National Gas and Internorth, a natural gas pipeline company, merged to create Enron with Ken Lay as the chair and chief executive officer (CEO). Lay transformed the company into a high tech global operation that traded water, energy, broadband, and electricity. In less than a year, problems arose of fraud andRead MoreEnron Smartest Guys On The Room1573 Words   |  7 PagesThe movie ENRON smartest guys in the room is about one of the biggest corporation corruptions in the United States. In 1985, ENRON Corporation, was a company that delivers pipeline for natural gas and electricity, while mergering with Houston Natural Gas and Internorth. ENRON quickly grew into a reputable company that generated enormous profits. In a short period of time ENRON was considered one of the top global trading company for natural gas, commodities, and elect ricity. According to the statistic;Read MoreEnron Of Enron And Enron1209 Words   |  5 PagesEnron Cooperation, is a company that was based in Houston Texas and was an energy company. This company filed bankruptcy in 2001 leaving a lot of its employees that had no knowledge about what was going on jobless and the company investors losing a lot of money. This was one of biggest companies in the united states, it had a lot of assets all over the country and was operating on a lot of profit that nobody knew how and why. The movie, â€Å"Enron, The smartest guy in the room† shows that the companyRead MoreQuestions On Duty And Ethics1283 Words   |  6 PagesTRIDENT UNIVERSITY Selwyn G. Roberts Module 4 (Enron/Duty Ethics) Ethics 501 Dr. Gary B. Shelton January 28, 2016 DUTY ETHICS Duty-based ethics is a challenging concept to grasp because of the culture we currently live in. Contemplating consequences, whether good or bad is the golden rule when trying to determine the actions one should take. Our legal system is filled with do’s and don’ts which can have a direct affect on a person life. When dealing with external pressures e.g. home, work or peerRead MoreEnron : The Conspiracy Of Fools Essay1650 Words   |  7 Pagesmagnified in the business world around the end of 2001 and the beginning of 2002. No one had seen anything like it. Enron, one of the country’s largest energy companies, went bankrupt and took down with it Arthur Andersen, one of the five largest audit and accounting firms in the world. Enron was followed by other accounting scandals such as WorldCom, Tyco, Freddie Mac, and HealthSouth, yet Enron will always be remembered as one of the worst corporate accounting scandals of all time. Enron’s collapse wasRead MoreEnro n Case Study Essay951 Words   |  4 Pagesrise and fall of Enron, do you accept Joel Bakan’s argument that the corporation shows â€Å"psychopathic† traits? I agree with Joel Bakan, however, just partially about the corporation Enron showing ‘psychopathic’ traits. Yes there are traits that they were doing unethical actions that completely ruin many people life-long works and their lives; nonetheless, in my opinion, those actions were intentional. The executives at Enron were gambling intelligently, according to the movie, and take a risk so