Enron Scandal And Its Ethical Implications - 1744 Words

Enron Scandal and Its Ethical Implications Introduction Enron’s collapse in 2002 was perhaps the most shocking and widely publicized ethical violations of all times. Once one of the world’s largest energy company, Enron’s downfall and the demise of its accounting firm Arthur Andersen, highlight corporate America’s moral failings. Enron was charged with substantial accounting frauds by manipulating its major accounts and by masking its massive debts. The company stock that once peaked at $90 was down below a dollar by the end of 2001, costing $200 billion dollars of investor money. A company with humble beginnings, Enron in its heydays was heralded as the epitome of corporate responsibility and ethics. This case study examines the ethical issues surrounding the Enron scandal and attempts to explore the reasons behind Enron’s ethical and economic failure. Background Enron was founded in 1985, shortly after the de-regulation of natural gas industry in the US. Enron’s growth was phenomenal and it became one of the leading companies in the power industry. The newly deregulated industry opened many doors for Enron and the company started to diversify and expand internationally. As the company grew, its culture evolved, Enron embraced a culture where employees were expected to take advantage of the newly open playing field to the most. Enron executives were rewarded through large pay packages for their ‘cleverness’ in building a company with sustainable returns. The company’sShow MoreRelatedBiblical Concepts Of Accounting And Finance811 Words   |  4 PagesWithout an ethical foundation build upon a biblical foundation accounting and finance practices are bound to fail. This paper will tie biblical concepts to accounting and finance as well highlight the implications of a secularism. Biblical Foundation Accounting serves to ensure that financial information is accurately tracked, managed and reported acorss business as well in the personal lives of people. This was as much a necessary function in biblical times as it is today. Although scandals and fraudRead MoreEthics Of Enron : A Corporate Disaster1408 Words   |  6 Pages The Ethics of Enron: A Corporate Disaster Racheal D. Smith Salem International University â€Æ' The Ethics of Enron: A Corporate Disaster Ethics, as stated by Dawn D. Bennett-Alexander and Linda F. Harrison in The Legal, Ethical Regulatory Environment of Business in a Diverse Society, are considered subjective laws as well as a how-to-guide for businesses in how they conduct themselves with their suppliers, customers, employees, and anyone else they do business with (2012). It is not enough toRead MoreThe Ethics Of The Enron Case1407 Words   |  6 PagesThe Enron case is a very popular case to show how the profession of accounting is vital to make the corporate world of business flow reliably. Enron was recognized as one of the world’s major electricity, natural gas, communications and pulp and paper’s company. However Enron was found to record assets and profits at inflated, fraudulent and non-existent amounts. Debts and losses were found to be excluded from financial statements along with other major transactions between Enron and other companiesRead MoreThe Sarbanes Oxley ( Sox ) Act Of 20021617 Wo rds   |  7 PagesThe focus of this week’s assignment is the Sarbanes-Oxley (SOX) Act of 2002. A brief historical summary of SOX will be presented, including the events leading up to its passage. The key ethical components of SOX will be identified and explained. The social responsibility implications of the mandatory publication of corporate ethics will be assessed. One of the main criticisms of SOX has been its implementation costs, and this specific criticism will be addressed in regards to smaller organizationsRead MoreAndrew Fastow : The Enron Corporation And The Pioneer Of The Financial1067 Words   |  5 PagesIn 1990 Enron market value increased from $3.5 billion to $35 billion by the end of 1999 (Ivey Business Journal, 2016). During this time Andrew Fastow was the chief financial officer of the Enron Corporation and the pioneer of the financial implication that brought Enron crumbling down. In this nine-year time frame this feat was admired by companies arou nd the globe. Andrew received a CFO Magazine award for his work at Enron and had lavish parties celebrating the results of the quarterly earningsRead MoreEthical Codes Of Conduct Are Secondary Thoughts1531 Words   |  7 PagesEnron, WorldCom and Bank of Credit and Commerce, just to name a few, runs chills up and down the spines of, well, just about everybody. These scandals swirled around several large businesses, and hinged on unethical practices – unethical accounting practices, specifically. The idea of ethics is a hot button these days in all genres. In fact, universities and colleges are including ethics in the curriculum of every discipline instead of offering an ethics major, per se (Kanaiah Kumar, 2009).Read MoreThe Influence of a Companys Leadership and Culture on Its Business Ethics1541 Words   |  6 Pagesavailable limits towards the achievement of competitive advantage (Madsen Vance 2009). The organization had the ability to execute diverse contracts thu s complex in the products and service delivery to the consumers and other transaction partners. Enron adopted a culture that facilitated the rewarding of cleverness towards the pursuit of common or collective goals by its employees following the success under the influence of diversity and complexity of innovation. The employees were encouraged toRead MoreEthics And The Auditing Culture : Rethinking The Foundation Of Accounting And Auditing974 Words   |  4 PagesAuditing. The key of the abstract is to demonstrate how traditional ethical settings led to unethical behavior and financial scandals of Enron, WorldCom, and Arthur Anderson (p. 271). The authors emphasize the role of the AICPA Code of Conduct and ethical perspectives for accountants and auditors. Introduction. The authors study profiles of firms that included the accounting fraud. The main objective of the research is to improve the ethical conduct for accountants through the demonstration of the gapRead MoreThe Ethics Of The Sarbanes Oxley Act1703 Words   |  7 Pagesforms scandals in their organizations. Such fraudulent arts are unethical and immoral behavior. This led the US government to form legislation in order to control fraudulent activities; mostly performed by senior officers in the organization. In view of this, this paper will address the following: historical summary on SOX enactment, the key ethical components of SOX, social responsibility implications regarding mandatory publication of corporate ethics, whether the criticisms of SOX implication presentsRead MoreEnron: from the Beginning to the End2542 Words   |  11 Pageshear the word Enron, they immediately associate it with the most important accounting scandal of our lifetimes. Enron was an American gas company that began as the Northern Natural Gas Company in 1931. Internorth, a holding company in headquartered in Omaha, Nebraska, purchased the Northern Natural Gas Company and reorganized it is 1979. Enron arose from the 1985 merger of Houston Natural Gas and Internorth. After building a large, new corporate headquarters in Omaha, the new Enron named former

Elderly Disability Essay example - 2488 Words

As the life expectancy in the United States rises, the number of elderly in the population has also expanded. These increases have led to the oldest-old (people aged 90 and older) to become the fastest growing age group in the country. The oldest-old face many unique challenges because of their age, one of which is disability. Disability in the elderly has major impact upon society 1 and will continue will be a growing burden in years to come. Although there is evidence from many studies that disability rate is declining in the U.S.2, the rapid expansion of the oldest-old age group will continue to pose health care challenges for future generations. Disability prevalence rates are very high in the oldest-old3 and even reached 97% in†¦show more content†¦Subjects and Methods Study Population Participants were part of The 90+ Study, a population-based longitudinal study of aging and dementia among people aged 90 years and older. Participants were originally members of The Leisure World Cohort Study, an epidemiological health study established in the early 1980s of a retirement community in California (Laguna Woods). The cohort is mostly female, Caucasian, well educated, and upper-middle class. The 1,150 individuals alive and aged 90 and older as of January 1, 2003 were invited to participate and 950 participants had joined as of December 31, 2007. Determination of Disability All participants in The 90+ Study were mailed a questionnaire regarding demographics, past medical history, and medication use. Participants were asked to identify an informant, a person who would be able to provide researchers with information about their functional abilities via mail and telephone. A questionnaire was mailed to the informant asking about the participant’s functional abilities. In 57.8 % of the cases, the informant was a son/daughter or son/daughter-in-law. Other informants included siblings, neighbors or paid caregivers (18.5%), spouses (10.2%) or some other (13.5%). This questionnaire included the Katz index of ADLs25, which is one of the most widely used scale for measuring disability with well established reliability26 andShow MoreRelatedThe Lack Of Age Appropriate Transportation Services For The Elderly And People With Disabilities1857 Words   |  8 Pagestransportation services for the elderly and people with disabilities. The issue of transporta tion becomes a major concern when the elderly and people who are disabled develop uncontrollable age related illnesses and are no longer healthy to drive. Losing the privilege to drive brings independence to an end and forces the elderly to stay at home which may lead to despair and other emotions. Therefore, it is essential to provide our senior citizens and people with disabilities with reliable transportationRead MorePhysical Needs For The Elderly1569 Words   |  7 Pagesperiod of life. Many elderly people have specific physical needs where adaptations to their home are necessary or where they need specific equipment for self care. Old age also brings new emotional challenges for the elderly person when the family can be useful in helping to meet the persons mental health needs. Senior citizens experience needs in their social life; they also experience the need for activities with other seniors. Health needs also negatively affect the elderly and cause multiple physicalRead Mo reAgeism : The Most Prevalent Prejudice Essay1269 Words   |  6 Pagesprejudice. Nonetheless, research shows that ageism is the most prevalent prejudice (Bousfield and Hutchinson, 2010, p. 451). This finding calls for an evaluation of how children view the elderly if they hold ageist views,3 and if they do, what has shaped those views? Mind Your Elders Baby Boomers When â€Å"elderly†, â€Å"grandparent†, or â€Å"senior citizen† is voiced, the images that often come to mind are of old white-haired or bald people walking with a cane, wearing glasses, small stature, and old-fashionedRead MoreDepression With Elderly Women1603 Words   |  7 Pages Depression with Elderly women Aremelder Johnson Steiner Leigh HDC 542 University of Illinois in Springfield, Illinois What do we still need to know about your vulnerable population and what programs address their needs? What programs and policies are needed? Social and demographic trends are making information and assistance services increasingly important to the average American family. Americans live longer and require more help to cope with chronic conditionsRead MoreRelativity of Young and Old1734 Words   |  7 Pagesï » ¿1. Explain the relativity of â€Å"young† and â€Å"old† There are many similarities as well as differences between the elderly and young adults. The most common factor in both of these groups it seems is the overwhelming ability for being narrow-minded Young adults as well as the elderly both think they know everything If you listen to the elderly many do become wise but many others seem to get stuck in their past On the other hand young adults readily accept changesRead MoreEvaluate the Influences of the Two Major Theories of Ageing on Health and Social Care Provision934 Words   |  4 Pageswho defined how the relationship between older individuals and other members of society onto older individuals decrease in quality. The Activity theory theorizes that when individuals engage and interact with their environment are all things that elderly individuals can be positive to their life and can be a positive sense of self, i.e. retiring may not be so harmful if the person actively maintains other roles, such as familial roles, recreational roles, and volunteer community roles. They believeRead MoreThe Age of Elderlyin Iran is Changing1826 Words   |  7 Pagesof â€Å"65† years as a definition of â€Å"elderly†, but some developing countries like Iran consider the age of â€Å"60†. We aimed to compare the physical and mental health of people who aged 60-64 years with those who aged 65-69 years in order to determine if the definition of elderly in our country is true. Methods: This cross-sectional study was conducted between April to September 2011, in the west in Iran. Participants in this study are those who referred to the elderly care centers. With random samplingRead MoreNeglect As Defined By Merriam Webster Essay1515 Words   |  7 Pagessubcategory of abuse, will be expanded. For all intents and purposes of this paper the elderly will be defined as persons sixty and up. Senior neglect is not fulfilling a caretaking obligation. It could also include putting your elderly grandparents or parent on the backburner. Not giving them the attention and love they deserve. According to the National Center on elder abuse ninety percent of the roughly two percent of elderly neglect cases actually reported to the authorities are committed by a family member-Read MorePain and Anxiety with Dizziness and Falls in Older People623 Words   |  3 Pagesadults. Dizziness is a complaint that tends to increase as a person ages, which can be said about the incidence of falls. According to Menant et al, dizziness symptoms can be debilitating and lead to poorer quality of life, self-reported functional disability, poor health, depression, less falls self-efficacy, and restricted participation of social activities. Multiple studies have reported that dizziness can be a result from both medical and psychological factors. The study was performed on 526 olderRead MoreStrategic Review : New Zealand Essay1559 Words   |  7 Pagespractitioners or family doctor but charge of their doctor they have to pay. Registered Nurse and Enrolled Nurse There is a Registered Nurse employed for 24/7 .The Nurse Manager is well qualified and committed for the patient care who are especially elderly. She is very empathetic to the patient and taking care of them wisely. She is always available. There are also many enrolled nurse who stayed at rest homes. All are very polite and keen to their work. They perform their duty according to their decided

A Study of the Service Cycle of Medical Tourism in India Free Essays

One of the major practices in healthcare is the process of ‘patient outsourcing’, in the form of medical tourism or ‘Medical travel’.   This form of business protocol is becoming hugely popular in the developed countries of the world, as it has tremendous benefits. Medical tourism is a deliberate effort to combine health issues along with travel for tourism and leisure (Health Base, 2006, Recover Discover, 2007). We will write a custom essay sample on A Study of the Service Cycle of Medical Tourism in India or any similar topic only for you Order Now Several organizations may be involved in the process of medical tourism including:- The governments – They are responsible for framing a policy that would ensure regulated flow of tourists from one part of the globe to another to enable effective healthcare provision.   Besides, it would also ensure that the tourists can obtain valid travel documents easily. Hospital Associations – Associations founded between the hospitals of the tourist and the destination country are required to communicate with each other so as to help in the flow of medical tourists. This is to ensure that all ethical and legal issues are addressed, and an effective marketing communication system can exist.   It would be ideal for the patient to first speak to his/her usual healthcare provider before seeking medical facilities in another nation.   Hospitals in the west can also consider recognizing and providing accreditation for hospitals in developing nations, so that the quality standards prevailing is well-understood. Travel authorities – They are the authorities who are providing valid travel documents and permission required to enable medical treatment in another nation.   The authorities should understand the need and urgency for medical treatment and hence would have to permit such travel. Travel agencies – They would have to communicate with other parties in the destination to ensure that the health and travel needs of the tourist is meet, keeping in mind quality, cost-effectiveness and hassle-free processes.   The travel agency would have to provide the travelers with customized packages that are cost-effective and seem attractive.   They would also have to market the health packages in the West, to demonstrate clear advantages to the ones existing at home. Ministry of Commerce and trade (Hutchinson, 2005, Heatlhbase, 2006 American University, 2003). Through the process of globalization, many countries are beginning to closely review their economic strengths and risks.   If something is costly in one nation, immediately the resources present in other nations would be approached and utilized.    In medical tourism, the individual would be using cost-effective options in order to fulfill their healthcare needs in areas where the limitations may be less.   These limitations can be several and can be utilized to the advantage of the individual.   Some of the limitations which can be met through medical tourism include:- Going from one nation where certain types of treatment are not available, to another where treatment is available. Going from one country to another, where the quality of treatment is better, improved technology and where expertise in health is available, and innovative options are present   Going from one country to another where treatment is provided in a more cost-effective manner Going from one nation to another where medical treatment including surgery is provided in a more timely manner (to reduce the waiting periods for elective surgeries) Including the family members and seeking treatment away from home where the usual stressful factors would not be felt (Hutchinson, 2005, Heatlhbase, 2006 American University, 2003) Medical tourisms can take place from one nation to another and from one region of a nation to another region within the same nation. The trend today is that many people from the western or developing nations (which have a very restrictive health setup) are moving to the east, where the practices and policies do favor provision of several benefits in healthcare. There are many unique features of the prospects of medical tourism:- The nations which serve as a market for medical tourisms are providing several attractive policies and practices They are using vary attractive marketing strategies to encourage business – An example of this would be to combine medical health visits with holidays to exotic tourist destinations.   Many people from the developed nations are finding such packages very attractive and are considering them as they are not only cheaper but also meet their customized needs, conveniently. The developing nations such as Thailand, India, Latin America and China, are offering more holistic kind of treatment and are providing several complementary and alternative treatments that deviate away from allopathic medicine.   Many of these treatments have proven to be effective.   Besides, the treatment facilities are provided in more natural kinds of environment, thus encouraging better healing and recovery (Hutchinson, 2005, Heatlhbase, 2006 American University, 2003). Medical tourism can be held for various reasons including health and wellness tourism, reproductive purposes, alternative treatment strategies, preventive medical care, spa tourism, surgical tourism, dental tourism, diet and nutrition tourism, transplant tourism, cosmetic tourism, spiritual tourism or even for end-of-life purposes.   Often the individual requiring health treatment would also like to include their family members in the process. 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