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Managerial Organization - Essay Example

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Introduction In the contemporary era of rapid globalization, advancing and recessive environment, various internal and external factors significantly impact performance outcome of organizations. While success of firms always relies on business strategies, the tangible and intangible issues within and outside the firms may become the major contributing factors for its failure…
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Managerial Organization
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Download file to see previous pages The paper would discuss the myriad aspects of Enron that led to its failure. Brief summary of the case Enron Enron was a major American firm in the areas of energy and related products that had a global presence. Enron was founded in 1985 through merger of Houston Natural Gas and Internorth, the two major natural gas pipeline companies. In 2000, it was named ‘America’s Most Innovative Company’ by Fortune magazine (Fox, 2004). But in 2001, it was found that institutionalized fraud was behind the projected financial condition that was escalated to deceive public through imaginary transactions. The manipulated accounts and audit reports gave it market credibility which was exploited by the corporate to borrow capital from financial institutes. Its stock plummeted to nearly zero and it emerged as the major financial scam that shook foundation of corporate America. Situation analysis Enron was a high revenue gas pipeline company that had a niche market in America. The deregulation in the gas prices allowed Enron to be more flexible in its arrangement with producers and pipelines. It was allowed it to pursue its diversification strategy and entered into other areas like electricity power, fiber optics, coal, steel, paper and pulp. Its foray into international market was offset by undertaking projects in construction and management of energy facilities across the globe. Indeed, its exponential growth was very impressive that influenced the capital market. It exploited its expertise in physical logistics to evolve a complex network of risky trading business. The volatile market, deregulated gas prices and transport infrastructure to deliver the gas were vital risk areas that required huge funding, government alliances, expertise in areas that were virgin to it. The political risks in developing economies like India and China also emerged as critical issue that could jeopardize its projected success rate in developing effective energy capacity. Most importantly, the wide network of complex system of gas trading provided it with huge leeway to maneuver accounts. The long term contracts required future prediction of prices and short term contracts allowed it to manipulate prices. Both were risks that were managed by accounting systems through contrived earnings and balance sheet that was inflated and designed to influence the capital market (Healy and Palepu, 2003). There was lack of transparency and control which facilitated massive corporate fraud and corrupt practices in the higher hierarchy leading to its failure. Another crucial issue was its strategic decisions that were based on high ambitions of exploiting opportunities in emerging economies without analyzing its internal strengths, vis-a-vis expertise in different areas where it had diversified and the accounting system that required complex transactions of long term contracts in volatile market. Analysis of factors leading to its failure Organizational culture is a vital factor that promotes defined code of behaviour amongst the workers to inculcate sense of stability and desired motivation for improved outcome. Mullins (2007) believes that it emphasizes behavioural regularities, which is distinct in its language, custom and traditions and the way workforce reacts to the situations. Enron’s higher hierarchy in human resource not only lacked leadership initiatives but was also unethical in ...Download file to see next pagesRead More
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