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People and organization: Enrons Corporation case - Essay Example

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This paper is going to focus on the Enron’s corporation in terms of several aspects related to people and organization. Among the things to be highlighted in the Enron’s Corporation are the history of the organization, the workforce, and its human resource strategies…
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People and organization: Enrons Corporation case
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"People and organization: Enrons Corporation case"

Download file to see previous pages The intention of this study is Enron that was one of the world’s biggest manufacturers of natural gas, oil, and electricity. Before 2002, it was considered one of the most profitable limited companies whose shares value rose from $19.10 in 1999 to $90.80 at the end of 2000 financial year. These successes are attributed to the board of directors and the top management team who always looked for new ventures, partnerships, and make crucial decisions of the company. On several occasions, the company’s Chief Financial Officer, Andrew Fastow had many investments for the company and the board of directors never questioned his decisions, little did they know that despite the created partnership he in fact the major investor participating in the buying of shares and to conceal his deals he introduced a complex scheme of off-balance-sheet partnerships. Analysts in trying to go through the balance sheets did not figure out anything for the scheme was so complex and did not make sense. This was the revelation for the shareholders and it marks the downfall of Enron Company. Enron’s company was highly respected for its managerial skills and efficiency attributed to its’ hiring of top graduates and experienced personal to undertake in the run of daily business operations. The CEO on the other hand cultivated a culture of competition among the employees, those who were rank low would be dismissed hence everyone was self conscious, but never went into it to find out how it operated, thus the employees cooperated amongst themselves and when a problem occurred it was hidden rather than being disclosed. This shows that the CEO was ignorant on some key issues of running the business. In our society today, we are made to believe and trust too much on the professional bodies like the lawyers, accountants, and the external auditors, but in reality they are the ones who can ruined the company or an organization. The law on the other hand finds only the key players in a case. Enron’s failure was not only because of bad decisions of the CEO and the CFO, rather the entire management had a problem. There was lack of proper communication between the senior directors and the subordinates of which they should have all been investigated. From the case, the company was more interested on enriching her employees’ welfare and put aside the interests of other stakeholders. For this reason therefore, the employees did anything to benefit themselves and they should have been investigated. ...Download file to see next pagesRead More
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