Enron
Corporation former New York Stock Exchange, was the nation 7th
largest corporation and an American energy, commodities and services company
based in Houston, Texas.
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In the
movie that I’ve watched, the story ends with the bankruptcy of one of America’s
largest-corporations. Enron represents a more systematic failure because it
involved the bankers, the auditors, the lawyers, all of those hundreds of
internal accountants, lawyers, finance professionals, and executives. Even
Enron’s board of directors waived the code of conduct twice.
The
collapse of Enron was an unfortunate incident, and it is important to know how
and why it happened so we can understand how to avoid these situations in the
future. Looking back, Enron had incurred tremendous financial losses as a
result of arrogance, intolerance, greed and foolishness from the top
management, all the way down. They became the victims of their own hubris,
victims of their own greed.
A lot
of people have suffered, mostly the shareholders and pensioners who lost it
all. It was a sad ending; to what had appeared to be a promising beginning to
the new economy in which the internet age would spread wealth and create jobs
throughout the social spectrum.
The
lesson that can be learned from the collapse of Enron, as leader we should be
accountable, honest and transparent in governing the company. Money is not the only thing that
motivated people and we should not lose our sense of morality. Any organization
must be ethically responsible to all of its stakeholders and shareholders; and ethical
standard must be practice at all times. Integrity must start at the helm, and
then it can percolate down through the deepest layers and become the heart and
soul of the company’s culture. In order to succeed, leader must need to have a
good idea and the leadership to make it happen, and above all, need to
demonstrate integrity at all times.
A lot of who Cliff was tied
up in how he had succeeded at Enron. It is hard to look at your life’s work and
say, “It’s failed.” But you have to take a long cold look at yourself and say, “Who
was I? Who did I become? And realize, you may have seen your shadow” – Amanda Martin-Brock
Ask Why?
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from Enron - The Smartest Guys in the Room
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from Enron - The Smartest Guys in the Room
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Image
from Enron - The Smartest Guys in the Room
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“The supreme quality for
leadership is unquestionable integrity. Without it, no real success is
possible, no matter whether it is on a section gang, a football field, in an
army or in an office.” –
Dwight D. Eisenhower
Reference:
https://www.youtube.com/watch?v=bFJ-hcst8Pg
https://en.wikipedia.org/wiki/Enron
http://www.forbes.com/sites/kensilverstein/2013/05/14/enron-ethics-and-todays-corporate-values/
http://ethix.org/2007/06/01/did-we-learn-the-lessons-from-enron
http://www.investopedia.com/articles/stocks/09/enron-collapse.asp
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