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Axcc/280 Checkpoint 1;Impacts of Unethical Behavior

In: Business and Management

Submitted By Earlee1
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Check point: Impacts of Unethical behavior
Earl Walker
University of Phoenix
2/19/2014
Axcc/280

Earl Walker
2/19/2014
Checkpoint: 1

The fall of Enron in December 2001 under the leadership of then CEO Kenneth Lay was due to a number of unethical business practices in the corporate world, inflated profits, deceptive ledgers, and illegal partnerships where the charges filed against the this company was showing deceptive practices in accounting as well as in business. Enron corporate culture did little to promote values of respect and integrity. Each division and business was kept separate so that there were few people whom may have had a big picture of the company’s operations. There were compliant board members, and impotent accountant’s auditors and lawyers. Enron in 1997 filed a $586 million dollar reduction after only months after their first quarterly loss there were many highly regarded Wall Street firms that enabled Enron’s fraud as being partners to it. Andrew Fastow , known as LJM2 would take an asset that was doing poorly off the hands of Enron at the end of a quater and sell it back to the company at a profit once the quarter was over and the earning had been booked.
The controversy with Enron could have been prevented had each employee performed his or her duties to the expectations of those in their positions and the laws ,rules and regulations of the Internal Revenue Services, and not turn their heads out of fear of job loss
If I were employed with this company, there is very little chance that I would have gone along with or accepted the deception that was happening within the company. Knowing that the executives were not properly reporting earnings and losses accurately would have been something that I would have reported to authorities what I knew. This controversy stole the futures of many retirees and their…...

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