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enron Free essay! Download now

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enron

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Downloads to date: N/A | Words: 1097 | Submitted: 07-Jan-2015
Spelling accuracy: 99.0% | Number of pages: 3 | Filetype: Word .doc


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The story of Enron is a story that began very well. It was a real business with an enormous reputation. It has created the whole trade market, including online trading, natural gas and electricity. There was working the best employess. The name of the book and the film about Enron is «The smartest guys in the room», because it was believed that people who worked there, - are the smartest people in the industry. They had a great authority in the energy sector, in society, in the world. They were awarded the prize, which was called the Distinguished Public Service, and it was very prestigious: it was gotten by Colin Powell, Mikhail Gorbachev, Eduard Shevardnadze, Nelson Mandela, Alan Greenspan. By the way, professorships named Kenneth Lay still exist at the University of Missouri and the University of Houston.
But probably being smart is not enough, you must have the right incentives. The situation with Enron is a story about how the incentives are arranged in a corporation. In a nutshell: we know that the story of Enron is a story of additions, history falsification of statements. Managers systematically overstated the company's results in order to have their shares were bigger and options could be sold more expensive, but the question arises: is it possible to double-entry bookkeeping? Is it possible to run the company right? For shareholders, bankers, state, we will provide a single set of accounting records, but for myself, to present how to construct the company from the inside, we will use a different set. It is very difficult. It can be done in a small business, but in big business, the corporation with a hierarchy -subordinate, heads of various departments - it is very difficult to do. And Enron - is an example of how it is difficult to manage the company, which is dominated by Registry.
It was the largest energy company in the United States, and the seventh capitalization generally in the United States. It was considered as the most innovative company, its leaders received prizes: CEO, the CFO, the Entrepreneur of the Year. These people were invited to various conferences, round tables as authorities in the field of markets, new business ideas, new business models, etc. But it ended very quickly. If we look at the share price Enron, then the peak, when the shares were worth more than $ 80, to the collapse of Enron has gone almost one year. This company, which was very expensive and practically disappeared in a moment.
At first it was quite a lucrative business for a great gas trade, power trade, and then the company began to grow, and completely lost focus. Company engaged in the construction of power plants ...

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