Before 2000, Enron was famous in the business world. It was known as an innovative company, a technological powerhouse, and a major corporation with no fear. It was founded in 1985 as a natural gas pipeline company. The company emerged as a pioneer in the deregulated energy market rapidly, and within fifteen years, the enterprise had built various businesses in international energy-asset construction and energy trading.
From1990 to1998, Enron’s stocks appreciated by three hundred and eleven percent; however, the value of the stocks began to increase rapidly such that, by the end of 2000, Enron stocks were priced at eighty-three dollars, with a market capitalization in excess of sixty billion dollars. The company was rated in the Fortune magazine surveys of the most admired companies as the most innovative company. It, however, surprised many people with its spectacular fall within a year, and its image damaged forever. Its stocks price plummeted almost to zero.
Contents
Introduction
Enron – an Admired Company
The Rise and fall of Enron
Failure of Internal and External Check Balances
Continuous Auditing
The Failure of the Board of Directors
Breaches of Accounting and Ethical Conduct
Lessons Learnt from the Enron Case
Alternative Evaluation
Conclusion and Recommendations
References
- Citar trabajo
- Caroline Mutuku (Autor), 2018, Analysis of Enron’s Unethical Entrepreneurial Practices Leading to its Collapse, Múnich, GRIN Verlag, https://www.grin.com/document/426909
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