Enron Movie Essay This week you will watch the movie Enron. You will then write an essay. 3 pages 12pt font double space. Title page, reference page, citations throughout. In the essay, research the...

Running Head: ENRON MOVIE ESSAY        1
ENRON MOVIE ESSAY        2
ENRON MOVIE ESSAY
Table of Contents
History of Enron    3
What Enron did wrong?    3
How did they misrepresent the company?    4
Aspect Noticed— the Workers    5
References    6
History of Enron
Enron Corporation was an American energy service company, and commodities situated in Houston, Texas. The founder of the corporation is Kenneth Lay. In 1985 in Omaha, Nebraska, the United States, it was established as a merger between Inter North and Houston Natural Gas. Both of them are small regional companies. The corporation hired around about 29,000 employees and was significant electricity, natural gas, communications as well as a pulp and paper company, with revenues of $101 billion during 2000 (Paulsen, 2002).
It has a net income of $970 million and total assets amounting to $67.503 billion. The company got bankrupt in 2001 as an effect of an accounting scandal. Enron filed for bankruptcy in the Southern District of New York in late 2001 and selected Weil, Gotshal and Manges as its bankruptcy counsel. It ended its bankruptcy during November 2004. As mentioned by Noorullah (2017), organization culture was also one of the reason behind downfall of Enron.
The successive leaders of corporation has negative values leading to a weak and bad culture that was unable to handle the test of time and all led to window dressing of accounts. The organizational culture proved to be outright destructive to the effectiveness of the internal operations of the company. Enron lost all of its goodwill (Paulsen, 2002).
What Enron did wrong?
The corporation’s financial statements were complex and bewildered shareholders and analysts. It was having a complex business model and adopted unethical accounting practices to show false earnings, and modify the balance sheet to reflect good performance and favorable position. However, some speculative business...