The Rise & Fall of a Billion Dollar Company Enron Term Paper

The Rise & Fall of a Billion Dollar society Enron - Term Paper ExampleIn the year 1999, the company introduced its broadband services named as Enron Online, which was a website for trading commodities that enabled the company to acquire the largest position in the globe. A major chunk of business was acquired from online trade business (Fox, 2003). Growth of Enron over the years was tremendous.In the year 2000, the companys annual revenue touched the bare-ass heights of USD 100 billion. Itstood at the position of the seventh largest company of the world as reported by the Fortune 500 and the sixth largest business entity in energy sector of the world. The companys stock price at capital market witnessed its peak that was 90 USD (Fusaro & Miller, 2002). Every one knew that Enron was the billionaire business conglomerate of the United States of the States housed in Houston, Texas. The prime business of this entity was energy, commodities and services before it was declared bankrupt i n the year 2001. It employed more than 20,000 employees to deal with their electricity natural gas, communication, bod and paper company businesses that generated revenue around 101 billion USD (Fusaro & Miller, 2002). The renowned business magazine Fortune placed Enron as Americas the near innovative company for consecutive six years. In the year 2001, the signs of fiscal frauds came to surface in the said company. This had created a storm in the corporate world. With this financial scam, many questions were raised about the efficiency of standard accounting practice. To overcome this situation in future, the legislators of USA created Sarbanes Oxley Act of 2002 (McLean & Elkind, 2003). The dissolution of Arthur Anderson accounting firm had shaken number of companies around the world. The Enron financial scam was considered as one of the biggest and perhaps most complex bankruptcy cases in the history of United States of America (Fox, 2003). Incumbents In the year 1990, Jeff Skil ling, Chief Financial Officer, hired Andrew Fastow, who was well versed with the tricks of the trade wanted to exploit the energy market. To achieve the desired goal, Fastow established numerous entities to wait common business practices. It also allowed Enron to place liability in order to maintain a robust growth of stock price to keep its captious investment grade credit ratings intact (Swartz & Watkins, 2003). Kenneth Lee Ken identify was an American businessman whose role in terms of widely reported rottenness that caused the downfall of Enron cannot be undermined. He and Enron became the part and parcel of corporate abuse and accounting fraud. Lay was enjoying the status of CEO and Chairman of Enron over a block of two decades till his resignation (Brewer & Hansen, 2002). In the year 2004, Lay was indicted by a constituted grand jury on 11 counts concerning securities frauds. The trial of Lay and Skilling began in Houston wherein Lay was found guilty on account of committ ing and abetting financial frauds. The competent court of law awarded him punishment on 10 counts leaving the eleventh count relating to securities fraud, making false and misleading statements. Each count as per American Law attracted maximum 5 to 10 years rigorous immurement (Hodak, 2007). In the year 1999, Jeff Skilling raised the cash by selling off his assets to overcome the paucity of funds. The assets of Enron Oil and Gas Company were put on sale for gaining information about the market value. The company ran its business smoothly

Current Events and U.S. Diplomacy Essay Example | Topics and Well Written Essays - 1000 words - 2

Current Events and U.S. Diplomacy - Essay ExampleThis resulted to massive inflation rates, unemployment, corruption, and a breakdown of social order.When it came to international diplomacy, Russia remained in the sidelines. The Kosovo War was widely condemned by Russia since Serbia was a historical ally of the Russian people. There was more tension when Russia got embroiled in the Chechnya War, which the United States vehemently opposed. As well known passim history, sharp disagreements between the two-superpower nations, United States and Russia, have always been around. Each of these great nations has their own perspective on how to deal with international relations and their own intimate affairs.When Vladimir Putin came to power in Russia, it raised some concerns among the United States government officials since Putin was a former KGB officer and was completely virtually unknown during his predecessors regime. Kanet (2009) pointed this unwrapSince former President Boris Yeltsi ns selection of Vladimir Putin as his successor, Russias fortunes have improved dramatically. In part, this resulted from good luck and the escalating demand for and price of petroleum and lifelike gas on the world market in part, it stems from President Putins successful reimposition of central control over the political and economic structures across the colossal area of the Russian Federation, regardless of the cost in terms of human rights and democracy. Russias resurgence as a major power during the past decade has brought with it a reaffirmation of assertiveness in its relations with other statesboth those within its stated sphere of influence and those further from Russian territory. (p.4)The rise of the Russian economy after Yeltsin, and during Putins time has raised suspicion from the United States since the Russian economy is being used as a political return when it comes to international policy making with other countries. This results to Russia having a more influent ial

Strategic Perspective - Zara Report Essay Example | Topics and Well Written Essays - 3750 words

Strategic Perspective - Zara Report - Essay ExampleHowever, the follow has been influenced by plastered external factors throughout its dominant attire retailing business. It has been found from the external synopsis of Zara, it has been found that the company has been able to obtain substantial advantages within the global business environment. Moreover, the external analysis of Zara has revealed that in the fast fashion retail industry the bargaining power of buyers is quite high, therefore the company needs to constantly strive towards their varied and repair altering preferences. Additionally, the company has developed robust internal resources based upon its competent human resource capabilities. On the other hand, in relation to corporate social responsibilities, Zara follows certain ethical code of conducts in its business practices which facilitates the company to achieve sustainability. However, Zara in recent years has been dogged with certain public relations related c risis due(p) to certain undesirable conducts. Therefore, certain strategic options and choices as well as recommendations such as expanding outsourcing activities and focusing on PR along with CSR initiatives have been certain to the company so that it is able to maintain its dominant position in the global fast fashion retail industry. Table of Contents Executive digest 2 I. Introduction 5 II. External Environment abbreviation 6 II. I. PESTEL Analysis 6 II. II. Five Forces Analysis 8 III. Internal Environment Analysis 9 III. I. SWOT Analysis 10 III. II. Internal Resources and Capabilities 11 III. III. Value Chain Analysis 13 III. III. I. Primary Activities 13 III. III. II. Support Activities 15 IV Corporate Social Responsibility (CSR) 16 IV. I. Ethics 16 IV. II. Public Relations (PR) Crisis 17 IV. III. External Stakeholders Issue 18 V. Strategic Options and Choices 18 V. I. Expanding Outsourcing Activities to different Developing Countries 18 V. IV. Emphasising Upon PR Campaig ns 19 VI. Implementation and Evaluation 20 VII. Recommendations 21 VII. I. Improvement of the CSR Initiatives 21 VIII. II. Emphasise Upon Greater Initiatives on PR Activities 21 VIII. Conclusion 22 References 23 I. Introduction According to the present increasing competitive business scenario witnessed in the fashion retail industry, Zara has been recognised as ace of the renowned fashion brands. The company has been playing a leading role in the respective industry through expanding in different global regions across the world. Zara is the major brand of its parent company The Inditex Group, one of the dominant clothing retail organisations within the globe (Corporate Excellence, 2011). It can frequently be observed that the company highly seeks to represent unique fast-fashion clothing to the global customers. In accordance with the present day context, the company is performing its leading role in 86 countries through its more than 1750 stores across the different nations of th e world (Inditex, 2013). Emphasising upon the present competitive global clothing retail segment, the primary objective of this report is to demonstrate an in-depth analysis of Zara in the global clothing retail industry. The discussion of this report will be focused on analysing external environment of Zara through incorporating PESTEL and Porters Five Forces framework. Moreover, the discussion of t

Economic Downturn Hits Oz clothing Essay Example | Topics and Well Written Essays - 3750 words

Economic Downturn Hits Oz c mucklehing - Essay ExampleThe focus in this paper is on Oz clothing, a manufacturer of clothing in Australia that is facing serious threats to their operation in the business due a variety of internal problems and also due to the policies corporal by the Australian government. The organization cannot withstand the competition from the foreign competitors in the market and is facing a threat for existence. The Industrial intercourses and the practice kept up(p) by the organization were poor in nature and ar adding up to the resistance in the process of revival. The importance of Industrial relation has been highlighted over here and efforts have been made to identify that how the success of various elements and process in the organization depends on the proper alignment to the Industrial relations. The impact of the policies of Industrial relation on the employees helps to have a clear be paltrystanding on the motivation of the employees. The employee s and the laborers of the organization are a prime part and contribute a lot to the organizational success. The organizations should provide proper care and maintain their responsibility towards them by framing policies in line with the industrial relations. The overall problems of OZ clothing can be segregated into two factors, internal and out-of-door. The internal factors denote the set of issues which are present within the organization and prevent the organization to reach its desired goals, and the external influences are the factors outside the organization which prevents the cause of the organization. ... The primary reason for the failure of the organization can be contributed to lower productivity which has occurred due to the adoption of out of date technologies used by the firm. As a result of the use of the obsolete technology an overall increase in the price of the products per unit is also increasing. The familiarity is facing serious issues with the process of man ufacturing. The increase in cost of the manufacturing is also associated with the high amount of labor costs. The process of effective utilization of labor is get rid of in the company and thus labor has emerged to be a factor of high cost for the company. The skills of the labors in the production department are also under question. The organization also faces serious issues with the line of products they deliver to the customers. The organization generally deals with underwear as their commodity product. Customers believe that their products are not original and are also not fashionable. In view of the perceptions from the customers the retailers are canceling the orders of the products. The products are also highly priced than the competitors and it is also acting as a major cause for beingness unpopular in the market. The product designing team of the organization has not brought any innovation in the design or the quality of the products and has failed to satisfy the ineluct ably of the customers. The absence of fashionable products in their product line has also been a major cause for the customers easily falling to the low priced products outsourced from China. The organization also has low source of capital and this further prevents them to opt for the new technologies or look after

How does Baz Luhrmann interpret Shakespeare's Romeo and Juliet Essay

How does Baz Luhrmann interpret Shakespeares Romeo and Juliet - Essay ExampleThis research will begin with the statement that Baz Luhrmanns reinvention of Shakespeares classic Rome and Juliet depicts the classic tragedy through a visual kaleidoscope of Hong Kong action picture paradigms of chaos and color. The Luhrmann production is unconventional, moving the location to Verona Los Angeles. The authentication use of color is juxtaposed against the bleak backdrop of gang warfare, which permeates throughout the film. At the beginning of the film, Luhrmann opens with the prologue. In stark contrast to the well known Zeferelli interpreting of the tragedy, Luhrmanns conveys the prologue as a newsreel on the television as a news report. The opening sequences and title scenes of the film plays a rattling role in engaging the audience and preparing the audience as to what to expect from the movie with great effect. This places the audience at ease. The opening sequences and title scenes o f both films play a vital role in engaging the audience and preparing the audience as to what to expect from the movie with great effect. Moreover, Luhrmann uses quick flashes of the prologue at the beginning of the film either as newspaper headlines or in bold writing. Lurhmanns visual narrative mirrors Shakespeares use of symbolism in the opening scene as in that location appears a broken ring on the screen. This symbolizes the tragedy of Romeo and Juliets love story and further mirrors Shakespeares lexical technique of dramatic irony in his prose.

Marketing Case Study Example | Topics and Well Written Essays - 500 words

Marketing - Case Study ExamplePrice Despite the presence of various beer brands in the international market, Budweiser has maintained its respectable share in the global market due to its distinct product identity and deep satisfaction of customers towards its product. Hence no matter what the price of the product, Budweiser has been able to maintain its truehearted customers.The so called Budweiser trademark dispute where three companies stake claim to the name Budweiser. Not only does it add confusion to the general public, it also varies the product grasp and packaging.Despite the aforementioned weaknesses and threats, Budweiser continues to have a competitive advantage over other brands due to its stand out product name, label, and packaging. Furthermore, sin products such as alcoholic beverages maintains a competitive edge over other beverages despite outrageous ad campaigns and continuous government warnings. It may or may not have an agreeable marketing strategy. Neverthele ss, the product name says it all. The name Budweiser has given another denotative meaning to beer, or to make it concrete Budweiser has made itself synonymously identified to

Human Service Profession- Mental Health Counselor Essay Example for Free

Human Service Profession- Mental Health Counselor sampleCounseling has a major emphasis on prevention. Mental wellness counselors work with individuals and groups to promote optimum mental and emotional health. Counselors may help individuals luck with issues associated with addictions, substance abuse, family, pargonnting, marital problems, stress management, self-esteem and aging. Mental health counseling brings a unique approach to the mental health care professions. People who capture such counsel are labeled unhealthy, wrong or ill (Smith, Robinson, 1995, p. 158). The goals of a mental health counselor are based on specific principles. The basic principles are responsibility, autonomy, invitee and consultee welfare, mis-representation, consultant-consultee relationship and confidentiality. Counselors believe in the basic human need and the potential for emotional and intellectual growth of their client ashes and consultee. In order to better the client and the society , the counselor testament perform functions committed to increasing the understanding of the clients self and some others (Fanibanda, 1976, p. 547).Responsibility is a principle consisting of a degree of responsibility that the consultant has for the client. Consultation endure be a blending of professions such as consultant-teacher, consultant-policeman, or consultant-welfare worker just to name a few. The consultant must take responsibility for their own behavior. With strict compliance a consultant must not give advice to a client because they will be held responsible. Autonomy is a principle that gives the independence or freedom to a client, dropping his or her dependency on the counselor. This will allow the consultant, and other professions to perform their jobs more efficiently (Fanibanda, 1976, p. 548).Client and consultee welfare principle must acquire balance. If the client and consultee result in any difficulties the consultee may revoke his arrange with the client. Remuneration is the question of payment among the counselor and client. This standard will safeguard the best interest for the client and counselor. The consultant and the consultee relationship is a intimately excepted concept in the cousultation practice. It is often difficult to slip into a therapist role, but the counselor must maintain a professional role of his specialty. such(prenominal) a relationship on a personal note, could destroy the goal of helping the client.Confidentiality is another principle counselors use. Confidentiality agreement upon the counselor and client is specific information that cannot be shared with any other parties, unless a written agreement is signed upon. It is in the process of building trust between the client and the consultee to safeguard any information between any other parties (Fanibanda, 1976, p. 550-552).Mental illness effects a wide array of the population. The population consists for various races, sex, social class, and criminals th at are effected by mental disabilities. Social class is one of the most common characteristics of the mentally ill. The social lower class is conjugated to more serious cases for the development of the mentally ill (Fox, 1990, p. 344). Mental illness is the primary cause for the homelessness. It is estimated between 72 and 82 percent of the homeless are mentally unstable, based on an Australian study (Johnson, 2011, p. 29-30).Presently it is whether minority groups are disproportionately represented among the mentally ill, but minority groups such as African American and the Latino population appear not to suffer from this as much as the Caucasian population. This is a surprising fact collectable to that more minorities are exposed to more risk factors. Minorities tend to be relatively poor, and lack resources to prevent social and vocational disability and to promote gigantic term recovery (Snowden, 1997, p.236).The criminal population is another amongst the mentally ill. People with a mental illness are three times more believably to become incarcerated than be admitted to a psychiatric facility. Correctional institutions have become the largest providers of mental health treatment in the United States. Statistics show that 14.5% of male and 31 % of female inmates have a mental illness. Mental disorders can arrange from schizophrenia spectrum disorder, schizoaffective disorder, schizophrenic form disorder, brief psychotic disorder, delusional disorder, psychotic disorder, bipolar disorder, major depressive disorder and depressive disorder (Gross, 2013, p. 175).Counseling is not only received by the mentally ill, it is also received by people dealing with stress. It can be stress of a new job, relationships, family, finances, and addictions just to name a few. some(prenominal) people that even consider themselves normal and stressed receive counseling. Many of these people seek counseling because it has a high effect on health. Health problems such as ch ronic heart disease, depression, and psychomatic illness (Brown, Brooks, 1985, p. 860). Mental health counseling is a treatment on its own, while other forms of mental disorders can be treated with medication. Mental health counselors are readily uncommitted for face to face treatment or even over the web. Over the web counseling is often easier for clients because of travel needs.Many would argue that e-counseling is not as efficient as face to face, but 90% of clients that have used e-therapy said it worked (Alleman, 2002, p. 199). As stated before counselors try to provide prevention with clients. streak means the confronting and lightening the major cause of mental disturbance. In the mental health field, demands for examination of moral and scientific beliefs and begin to take action for change. ane on one treatment even if successful, is not considered prevention. Public health teaches that no mass disease or disorder has ever been controlled or eliminated by individual tre atment or an increasing number of therapists. However for individual therapy it is proven to lower individual emotional disorders. Treating clients and preventing emotional disorders are done diminution or eliminating the noxious agent, strengthening the resistance of the host, and preventing the transmission of the noxious agent to the host. The principle of the noxious agent is stress. All stress that leads to an emotional disorder is cast-off(prenominal) (Albee, 2013, p.37-40).