Monday, May 18, 2020
Enron Was A Successful Multi Billion Dollar Company
Enron was a company that operated one of the largest natural gas transmissions networks in North America. At the top of its game, Enron was a successful multi-billion dollar company that marketed electricity and natural gas. Enron also provided financial and risk management services to consumers around the globe. Because of its success, Enron left many people astonished when it declared bankruptcy in December 2001. Twenty thousand employees were left without jobs and most had lost their entire life savings due to investing it in the companyââ¬â¢s stock. In 1985, Houston Natural Gas Company and InterNorth, after federal deregulation of natural gas pipelines, merged to form a new company, Enron. Kenneth Lay had joined Houston Natural Gas before the merger as chairman and CEO. After the merger, Kenneth was appointed chairman and CEO of the newly formed company (Biography.com, n.d.). In 1990, Lay hired Jeffrey Skilling. Skillingââ¬â¢s job was to create a new business plan to get Enron out of the debt it had incurred during the merger of Houston Natural Gas Company and InterNorth. Skilling, who had a background in banking as well as asset and liability management, quickly rose to the top becoming COO in 1996 and CEO in 2001. One of Skillingââ¬â¢s business ideas was to create a ââ¬Å"gas bankâ⬠for which Enron could buy gas from a network of suppliers and sell it. Enron would guarantee both the supply and the price to its consumer assuming all risks and charging fees for the transactions.Show MoreRelatedEnron Was The Largest Trader Of Electricity, Energy And Natural Gas1139 Words à |à 5 Pagescollapse, Enron was the largest trader of electricity, energy and natural gas in the world. Founded in 1985 by businessman Kenneth Lay, Enron quickly became one of the largest corporations in America. It was a company who claimed to valued itself on integrity and truthfulness and whose main goal was to try to change the way the world bought and sold energy. Unfortunately, greed and arrogance along with accounting fraud lead to its ultimate demise. The companyââ¬â¢s first case of fraud was uncoveredRead MoreEnron And The Enron Scandal1588 Words à |à 7 PagesEnron was a corporation located in Houston, Texas and in just fifteen years the US energy trading and utilities company grew to become one of Americaââ¬â¢s largest and more successful cooperationââ¬â¢s. Enron suffered a major fall. After being one of the most successful corporations Enron became the biggest company to file bankruptcy in history. In this research paper it will discuss about the history of Enron, the fraud committed and who is to blame. The historical development of white collar crime in theRead MoreAccountant Independence Essay example767 Words à |à 4 Pagesinitial concept of auditor independence was developed in the 19th century, which primarily originated with the British. In that era, British investors didnââ¬â¢t allow auditors to work in the businesses that they audited. The initial concept began to change in the early 20th century due t o the shift in capital from foreign to domestic sources in the railroad, mining industries and the inventions of the telegraph and telephone. As time passed to the 1970ââ¬â¢s, FASB was established as the authoritative independentRead MoreEssay on CaseAssignment21409 Words à |à 6 PagesAssignment: Enron Case 9 Yesenia Garcia BUSI 472- B07 LUO Introduction In 1985 Ken Lay took over a couple of big name gas pipeline companies that came together and thus the infamous Enron Corporation began. They offered a variety of services that were not limited to natural gas but also included electricity, communications, and many energy related services. Together, CEO Jeffrey Skilling, Chairman Ken Lay, and CFO Andrew Fastow were able to bring transformation to Enron. They createdRead MoreEssay about Ethics in Finance1156 Words à |à 5 Pagesrespected, multi-million dollar energy company. You stand at the forefront of innovation and you are world-renowned for your pioneering efforts in the energy industry. However, due to a series of poor financial decisions, your company is on the verge of bankruptcy. You realize that in order to protect your own interests and investments, desperate measures need to be taken. Just exactly how much are you willing to sacrifice? Are you willing to risk everything? Imagine your company is Enron. ImagineRead MoreBusin ess Strategy Report for Quaker Oats Essay1306 Words à |à 6 Pagesbusiness strategy report for Quaker Oats Inc. Business Strategy Report for Quaker Oats The Quaker Oats Company was officially formed in 1901 when several American pioneers in oat milling came together to incorporate the company. In Ravenna, Ohio, Henry D. Seymour and William Heston established the Quaker Mill Company and registered the now famous trademark. The Quaker Oats Company is based in Chicago, Illinois and is now a division of PepsiCo. As indicated in figure 1, Quakers star productsRead MoreQuaker Oats1293 Words à |à 6 Pagesbusiness strategy report for Quaker Oats Inc. Business Strategy Report for Quaker Oats The Quaker Oats Company was officially formed in 1901 when several American pioneers in oat milling came together to incorporate the company. In Ravenna, Ohio, Henry D. Seymour and William Heston established the Quaker Mill Company and registered the now famous trademark. The Quaker Oats Company is based in Chicago, Illinois and is now a division of PepsiCo. As indicated in figure 1, Quakers star productsRead MoreKmart : The Largest Nationwide Retailers899 Words à |à 4 PagesKmart is one of the largest nationwide retailers in the world. The company was founded in 1962 and known for their slogan ââ¬Å"shop your way.â⬠Kmart became known for their blue light specials that occurs in the store from time to time to mostly show appreciation to their customers. Kmart headquarters is located in Troy, MI. It also exists in Australia and New Zealand, after U.S. equity in the Australian business was purchased, it has no relation to the American stores except in name. In the earlyRead MoreEnron And The Enron Scandal2247 Words à |à 9 PagesIn every single accounting or ethics class, the ââ¬Å"Enron Scandalâ⬠as a lot might say is brought up to teach all the students a lesson about ethics and how regulations in the accounting world were enacted. The ââ¬Å"Enron Scandalâ⬠dealt with two parties, first Enron itself, and then their auditors Arthur Andersen. Enron used to be one of the most innovative companies in the world, and Arthur Andersen was the biggest professional services company in the world, so when they both fell after the so called ââ¬Å"scandalâ⬠Read MoreThe Enron Corporation Scandal 1791 Words à |à 7 PagesIDENTIFY THE ACCOUNTING PRACTICES THAT WERE ASSOCIATED WITH THE ACCOUNTING SCANDAL. The Enron Corporation failures made world headlines for many reasons ranging from greed from its executives, the alleged malpractice and criminal behaviours, and its quick and disastrous collapse. The most critical factor in Enronââ¬â¢s melt down was the use of creative and manipulative accounting practices to distort reported proï ¬ tability and indebtedness that befell the corporation (A. Holt and T. Eccles, 2002) The
Wednesday, May 6, 2020
Sonnet 64 of Spencers Amoretti Essay - 798 Words
Sonnet 64 of Spencers Amoretti Poets, in general, are fond of symbolism and figures of speech. Instead of wallowing in the concrete and the obvious, it has always been the purpose of the poet to give ... to aery nothing a local habitation and a name. The writers of love poetry are especially fond of imagery, metaphors, and similar devices, comparing their loved ones to such and such an animal or cosmic event. It is therefore of no surprise that 16th century sonnets employ many figures of speech when elaborating on the finer points of the subject. Spenser, throughout his masterful Amoretti, is especially effective at drawing forth emotions; from feelings of despair (employing symbols of stormsâ⬠¦show more contentâ⬠¦Of interest is the similarities between the source material - The Song of Solomon - and the beginning of the list of scents. ... how much better is thy love than wine! and the smell of thine ointments than all spices! Thy lips, O my spouse, drop as the honeycomb:... begins the Song of Solomon, Chapter 4, verse 10. In Sonnet 64, as shown above, Sydney begins with a comment on overall scent, then also begins a description of the womans many odours, beginning with the lips. From there, her other parts follow: Her cheeks smell like roses, her brow like bellflowers. Her eyes are reminiscent of pincks, her bosom of strawberries. Her neck, the scent of cullambynes, her breasts, of lilies. And finally, her nipples remind Spenser of jasmine. This is all fine symbolism, and draws forth the image of a vibrant, fruitful woman, healthy and vital. As a creature of scent, of odours, she becomes ephemeral; with the link back to the bible, which the receiver would have surely been aware of, she also attains a certain spiritual state, raised above the level of mere mortals. Furthermore, their is a seductive undertone to the sonnet, drawing from both the erotically charged Song of Solomon and the essentially sexual image
Conscious Business Kofman
Question: Discuss about theConscious Businessfor Kofman. Answer: Introduction and Thesis In the first chapter of How to Build Value through Values, Fred Kofman forms the base for the significance of the conscious beings in any business. This chapter emphasizes upon the focus on the book, which is great leadership. Conscious Business is the being aware about the actions of an individual, in addition to their habits, over the organization and the environment. A conscious business is governed by those who are aware about their strengths and weaknesses and who can conduct the business in an inspiring and engaging manner (Matthies, 2012). This chapter relates to our course as it elucidates upon what factors can contribute to our, as well as, the betterment of the organization we join in future. Moreover, it also helps us in understanding the factors which are needed for an effective transition from a mere employee to a manager. This chapter also explains how the human behavior influences the whole atmosphere, which is the overall outcome of this course. Kofman has defined the various aspects which affect the consciousness of a human being and the manner in which these affect their behavior. He has defined the factors which drive the conscious in a human. He has also highlighted the factors which can result in conscious employees, conscious managers, and conscious leadership (Kofman, 2013). This has been done to show how such factors could result in the transformation of a person from being a follower, to an effective leader. By highlighting the negated factors, which pull down the effective leadership, he has successfully highlighted the significance of conscious business. Main Points Consciousness is the first key point elucidated by Kofman. According to this, consciousness was the ability of being aware of both the inner and outer worlds, which not only allows the individual to adapt to the environment but also to promote their lives. He has emphasized on both self-awareness and other awareness. Highlighting the business as being a key part of the lives of the people, he depicted the need of doing the business in a conscious manner (Kofman, 2013). The next key point discussed in this chapter was the seven qualities which differentiate between conscious and unconscious employees. These seven were a mix of attributes, interpersonal skills and emotional mastery. He also acknowledged the easy of understanding but the difficulty in the implementation of these. By giving the examples of a conscious employees conduct and the conduct of unconscious employee, he highlighted the difference in their productivity and outlook while conducting the businesses. He also quoted Mihaly Czikszentmihaly, to emphasize upon the same. In the same manner, he discussed the qualities of a conscious manager (Kofman, 2013). Another point discussed in this chapter was traits of a conscious leadership. He viewed that for the management of a team in an effective manner, it was necessary that it had great leadership. He showed that great leaders earned the respect and trust of their subordinates, as a result of which the goals set by the leader for such subordinates are attained with minimum efforts. Kofman also explained the Conscious Culture, which is based on the beliefs and expectations on how the things are to be done. The development of such conscious culture helps not only in achieving the goals and fulfillment of mission, but also in the execution of the strategies (Kofman, 2013). Author Fred Kofman is the President and the co-founder of Axialent. He is an extraordinary teacher who has awakened the people to act with courage, responsibility and integrity. His ideas are a unique combination of philosophical depth, along with their practical applicability. He has not only created, but has also taught a number of programs in organizational effectiveness, team learning, leadership, personal mastery and has provided coaching to over 15,000 participants. He has a huge client base, including the giants like General Motors, Yahoo!, Shell and Microsoft. He as a Ph.D from University of California at Berkely in economics and has been distinguished there as an outstanding instructor (Amazon, 2017). Fred has also worked as an assistant professor at Sloan School of Management of MIT of the Management Accounting and Control Systems. There, he was awarded as the Teacher of the Year in 1992. He has various other associations, with other prominent personalities too. His work has been published several times in different publications and these include Econometrica, Management Science, The Fifth Discipline Field Book, and The Journal of Organizational Dynamics. He also is the author of an audio program Conscious Business and the author of trilogy Metamanagement (Google Books, 2013). Personal Evaluation The key point that interested me in this entire chapter was the identification of unconscious attitudes. There have been many books and articles on what is supposed to be the correct attitude or behavior or of an individual working in business atmosphere, but seldom has a discussion been carried on the unconscious attitudes. Kofman has identified how the blaming attitude and selfishness of an individual affects the attitude of a person at the workplace. Being a person who is not as qualified as Kofman was, I do not have the authority to judge if the chapter was well written or not, but I can definitely point out that the chapter covered the ideas of the author in a conclusive manner. Moreover, as he quoted a number of examples in the text, the explanation became clearer. It is also worth mentioning that the topic was covered in detail and all the aspects, and even more, were covered in this chapter. However, I did find, that at times, the text was one sided. Even though Kofman has highlighted the examples of conscious and unconscious behavior but in the business world, the attitudes and behavior are influenced by the circumstances in which an individual works, and these are very complex. Such complex scenarios often give away with the demarcations between conscious and unconscious behavior. Conclusion Overall, the chapter was successful in establishing the link between the conscious behaviors of an individual to its impact over the business. And so, Kofman was successful in accomplishing his purpose. He not only showed evidence over how the attitude of an individual impacts the business, but also highlighted the key factors which could be attributed to conscious and unconscious behavior. Due to the lucid manner in which he explained the concept, I would defiantly recommend this piece to the other students. References Amazon. (2017). Conscious Business: How to Build Value Through Value Paperback Import, 17 Jul 2014. Retrieved from: https://www.amazon.in/Conscious-Business-Build-Value-Through/dp/1622032020 Google Books. (2013). Conscious Business: How to Build Value Through Values. Retrieved from: https://books.google.co.in/books/about/Conscious_Business.html?id=5e1JnwEACAAJredir_esc=y Kofman, F. (2013). Conscious Business: How to Build Value Through Values. Louisville: Sounds True. Matthies, P. (2012). What is Conscious Business?. Retrieved from: https://www.consciousbusinessinstitute.com/whatis.html
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