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What brought down Enron? ... I would agree that greed did factor into the fall of Enron, once named “the most innovative company” but further investigation into the company and its business and accounting practices reveal more than greed. Mismanagement of huge proportions, disregard to organization, and financial irresponsibility are amongst key factors of its fall.
Enron wanted to be bigger, better, and more progressive than all other companies and it seemed to be well on its way but the company did not a top manager (Kenneth Lay) with the right interest at the right time in his company’s objective and mission. ... Lay was Enron’s chairman in title only. ... Lay passed along his responsibilities to his right hand man, Jeff Skilling and began the downfall of Enron and the breakdown of its organizational structure. ... These persons making decisions and shaping Enron’s future, were infatuated with the quantity of deals made and profits seen without consideration for the far reaching consequences that lay ahead. Furthermore, Enron’s leadership could not encompass the organization nor could it provide the necessary advice and guidance needed for a company to thrive and survive.
True leadership and regard for basic business practices at Enron were absent.
Approximate Word count = 955
Approximate Pages = 3.8
(250 words per page double spaced)
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