Fall of Enron - Free Essay Example

Sample details Pages: 4 Words: 1190 Downloads: 4 Date added: 2019/08/08 Category Business Essay Level High school Topics: Enron Essay Did you like this example? The documentary The Smartest Guys in the Room talks about the corrupt practices by executives of the seventh most important corporation in the United States named Enron and how this led to its bankruptcy. In the beginning this company was only dedicated to the energy business, however, after its consolidation in 1985 with Houston Natural Gas and InterNorth it focused towards other business-related activities. From Enrons distribution and transmission of energy and gas, to the development of energy plants around the globe, it ultimately contributed to their exponential growth in the market. Don’t waste time! Our writers will create an original "Fall of Enron" essay for you Create order Even after the massive fraud committed by the companys top executives such as Ken Lay, Jeffrey Skilling, Andrew Fastow, Lou Pai, their unethical practices resulted to be detrimental not only for them but also for their employees and shareholders. Without regard from Enrons values these executives wanted to keep on profiting from the company for personal gain. In less than a year, the fall of Enron created a severe international impact. This left tremendous repercussions in respect to the energy markets. Because of Enrons bankruptcy nearly all employees lost their jobs, which means they also lost access to their pension salaries. Additionally, the companies which had contracts with Enron suffered a loss in revenue beside the employee layoff. The film explains two important strategies that unpack the reasons for Enrons end. First, there is the practice of the mark-to-market accounting; a subjective method by which they count non-existing profits. Throughout, the film it is more commonly known as Hypothetical Future Value (HFV). Enrons executives used HFV to overcome the losses that were generated by previous frauds in the oil industry, ones which were committed by some of Enrons important public figures. Jeff Skilling, former CEO of the company, introduced the calculus of HFV. To be more specific, it consisted on the alteration of documents that indicated Enrons financial status. The company would earn considerable amounts of profit when in reality the documents did not reflect their economic situation. According to the film, the possibility of booking a potential future profit was done on the same day they signed a deal. The irregularities investigated by authorities established that the company was earning high profits that were statistically impossible because of the industry in which they were immersed. To the world, Enron possessed the benefits they claimed to have. So, because of the alleged revenue they gained, multiple stockholders invested in the company to the point where they received appraisal from Wall Street. It is important to highlight the fact that Enrons workplace transformed into an environment where ethical egoism reigned. This is can be seen in the matter that Enron transgressed all the principles and professional ethics a company should have. The top executives lost their integrity by making dishonest decisions based on their long-term and self-interested reasons, which in this case was their self-enrichment. This showed their lack of responsibility and loyalty with their customers but especially the lack of their good faith and honesty. Jeff Skillings favorite book The Selfish Gene played an important role in Enrons path. The book is about the way in which greed and competition led human nature, which represents what happened with those who held the reins of the company. The compelling notions Skilling derived from the book and his highly competitive vision is what helped him design the system by which he would guide Enron. This system is known as: Performance Review Committee (PRC), which was introduced in the documentary as the second strategy. This system promoted an intense competition between co-workers, where they would be rated in a scale from 1 to 5 (1 as in less productive and 5 as in most productive). Approximately 10% of Enrons employees who were qualified as 5 would be fired because the company did not want intelligent people catching on to the false data they were providing. With this system, Enron measured their employees performance by analyzing the amount of profits they could produce. So, the higher an employees PRC score went, the higher the probability was that he or she would be dismissed. This constant and fierce competition is an ethical trap because ones values are at stake. An ethical trap consists when two codes of ethics are in conflict which causes a moral dilemma. This can be seen in the matter that they were told to do better but if they did they would be fired. According to the text Intro to Business Law, as well as its definition, the trap reduces a persons sense of morality. This happened at Enron because employees were involved in a striking rivalry between them and they would not stop at any cost. This was done with the purpose of producing more profit for the company. In reality, it is true that people are naturally competitive. However, employees at Enron were so influenced by the system that even though they wanted to be better than their co-workers, in the long run that costed them their job because of the principles the company strived to look for in thei r workers. Another vision Jeff Skilling had was his Darwinist theory; that only the fittest people can survive, this was how he believed the world worked because he affirmed that money was the greatest motivator. This ethical trap lures people to abandon their values and it is used as a medium to justify unethical behaviors by making them look rewarding; however, according to the text Intro to Business Law, money contributes to happiness but does not equal it. This trap can make someones life easier but not happier, because it can provide amenities that increases ones life standards. On top of that, they world may consider this trap was the reason of Enrons bankruptcy. On a certain level it is because it was what the executives wanted but, the documentary lets us understand that is more than the money itself. Enron fell because of its people and their anti-values. The companys executives shared an Utilitarianistic vision of the end justify the means. Due to their arrogance, greed and pride they made un-ethical decisions to the point where they were determined to accomplish their goals regardless of the cost. In this way, they would justify their actions by doing something that is morally wrong just to take advantage of the situation. Enrons fell also left in evidence how media condescendly acted because they did not limit the lack of transparency there was since the beginning. Enron had personal relationships with media journalists, this resulted in the company having an influential image that led people to believe the company was doing well. Therefore, investors were more likely to give money to the company because of the image they represented. Overall, it is important to recognize that people need a moral path to guide themselves through life. In respect to Enron, their success was dependent on their ethics because they are the foundation of a long-term reputation; however, given its history, authorities should legislate to reprehend companies that deceive others. They should demand more transparency, create rules that protect pensioners and regulate the systems of control and auditing more strictly. By Ashley n Baez gomez Miami us florida

The building blocks of a tragic hero - 945 Words

Imperfection, manipulation and ignorance are the perfect ingredients for creating a tragic hero. A great example of a person displaying these traits would be no other than Othello, from William Shakespeare’s play â€Å"Othello†. Throughout the play, Othello is manipulated and as a result he becomes extremely jealous and angry with the ones he loves. Othello is easily manipulated by the conversations between Iago and himself. Othello’s tragedy is caused because of personal flaws, and misguided trust in others, which is evident as his dialect, and behaviours change throughout the play. Othello’s own flaws and insecurities; jealousy, rage, insecurities and misguided trust in others contribute to his tragic downfall. Othello begins to doubt his†¦show more content†¦In the end, Othello’s anger and mistrust, fuelled by Iago’s lies, leads to Othello’s tragic demise. Othello’s behaviour and dialect changes drastically throughout the play as a result of misguided trust in Iago. During the beginning of the play, Othello expresses his love for Desdemona. â€Å"I cannot speak enough of this content; / It stops me here; it is too much of joy. They kiss. And this, and this, the greatest discords be/ That e’er our hearts shall make.† (II.i.189-93) Othello is happy that he married Desdemona and he expresses his love openly for her. However, Othello’s behaviour changes as Iago’s influence causes him to become jealous and angry. â€Å"Hang her, I do but say what she is: so delicate with her needle, an admirable musician- O, she will sing the savageness out of bear- of so high and plenteous wit and invention-â€Å" (IV.i.183-86) Othello still feels love towards Desdemona but blinded by anger from false information, he allows himself to feel hatred and negative thoughts towards Desdemona, as seen in the change of his dial ect. 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Aboriginal Community Controlled Health Services - Free Samples

Question: Discuss about the Aboriginal Community Controlled Health Services. Answer: Introduction The contemporary nursing profession is increasingly focusing on the patient rights and issues on shared decision making. Nurses are not only required to be accountable to their patients, but also to the public, their employers and other stakeholders. However, the application of these principles requires deep understanding of the culture and social issues facing the patient (Cherry and Jacob, 2016). The perspectives and cultures of the Aboriginal people play a critical role in the palliative care decision-making process. The multiplicity of players that influence this critical decision create a fertile ground for conflicts and legal conundrums (Crawley and Koffman, 2015). This is the situation that arose in the management of Tom, a patient who was placed in palliative care. The nurse in charge of Tom faces numerous professional and legal issues to deal with in the management of the patient. The primary duties of a nurse include the care of all patients, confidentiality, and autonomy. These duties are supplemented by the principles of beneficence and non-maleficence. However, autonomy is complicated in cultures such as the Aboriginal society where the whole family (and sometimes including extended family) is needed to make the management decisions (Johnston, Vukic, and Parker, 2013). It obscures the process of informed consent when each of these members has differing opinions or understanding of the patient management. In the situation of Tom, the nurse needed to respect the palliative wishes of the patient in his management. These included the use of morphine/midazolam for the treatment of his pain or dyspnea and the regard of his medical registrars notes. However, the health of the patient is also deteriorating to the dislike of the family, and better supportive care need to be initiated. The biggest challenge is the person responsible for the final decisions of the patient. While the family is aware of the wishes of Tom for palliative care, they are also concerned about his deteriorating health. The person Tom had assigned to make decisions on his treatment and be his guardian, Cec, was present when Tom decided to use the morphine and be subjected to terminal care. Tom had also done an advanced care paper. However, the daughter wants to override these decision and uses her power as an attorney to implement the changes. She wants better treatment strategies for her father, which causes distress to the other family members. Her wishes are justified within the legal confines, but create a clinical conundrum in the management of the patient. The legal issues in the situation extends beyond the basic understanding of the law to the frameworks of the Aboriginal culture. Their indigenous life requires that family strength is maintained, and an effort to divide the family may be disrespectful (Duggleby, 2015 p. 1722). Consequently, the decision on the management of Tom will need to be collective and protracted. However, there is need to also maintain the professional nursing ethos and standards in applying the decisions from the family members on the health of the patient. At the end of the day, the nursing care provided to the patient are based on his best interests. Goals in the management of the patient The complication of Toms situation arose from the need of Carina to apply modern laws in a setting that is influenced by cultural forces. The fact that Tom has already gone back to the community and consulted with the other members means that the family is at peace with the palliative care process. It took consultation with the senior members of the society before agreeing to use the morphine treatment. However, Carina believes that the treatment is not appropriate for his deteriorating father, and uses her legal powers to override any prior consent. In such a situation, there is need for wide consultations between the family members and nurses to determine the most appropriate methods of managing the patient. The cultural issues surrounding the palliative care of Tom need to be considered while ensuring that professionalism is observed. Therefore, as a nurse in the hospital, there is need to establish appropriate palliative care aims that will be acceptable to the patient and improve the quality of life of the patient. The first basic principle is to ensure that Tom suffers the minimum pain possible. The use of morphine is intended to reduce the pain and dyspnea, but it has not dealt with the symptoms that were being experienced by the patient appropriately (Kamal et al., 2012). Tom has not improved on his long breath gaps and reduced appetite, which is beginning to cause concern with the family members. However, the patient was categorical on the morphine dosage to avoid drowsiness as he wants to spend the last moments with the family. As a palliative care nurse, the comfort and well-being of the patient are the core objectives. The fact that Toms symptoms are not improving is a cause of concern to both the nurse and the family members. Therefore, the use of supportive therapies to alleviate these symptoms is fundamental (Panaretto et al., 2014). It is imperative to discuss these issues with Carina and other family members to see if there is a need for other medical interventions. The nurse needs to plan a shared decision-making process with the family. This can help to identify the best medications to alleviate the symptoms. The palliative care should also aim to create a spiritual and emotional well-being of the patient and the caregivers. The process includes accommodating the friends, family, and community of Tom in the hospital according to their customs. These members had appreciated the significance of the palliative care provided to Tom before Carina came. It is also important that Carina also understands the plan and process of managing his father. The nurse has an obligation to understand Carinas perspective and inform her of the possible benefits and risks of the available options (Kelley and Morrison, 2015). This will lead to meaningful interactions, which will make the whole family understand any interventions and procedures incurred in the palliative care process. Carina will also understand that a higher dosage of morphine could reduce the observed symptoms, but might make her father drowsy. Course of action The end-of-life care is an emotional moment for the family members of the patient. The nurse in charge needs to establish a proper communication platform that can enable an appropriate exchange of information between the two parties. Communication is essentially vital in the situation facing Tom due to the cultural and social barriers to nursing care (Morton et al., 2017). The family could provide useful cues that might help in the management of the patient without creating any fears or discontent among the family members. The first course of action would be a brief highlight of the events that led to the present care of the patient. As Carina was not there initially, she would have missed the reasons her father is being subjected to palliative care. However, the Aboriginal societies are family-oriented (Lau et al., 2012).Any decisions or insights from the discussion with carina need to be approved by the other family members. Therefore, it is important to involve the family members in the management plan of Tom in this situation. Deliberations between the members will lead to a common ground that can inform the future management of Tom. Shared decision making will inform the willingness of the Aboriginal members to accept and adopt the palliative care plans. Satisfaction services might improve the perceptions of these indigenous groups to palliative care (Shahid et al., 2013). One of the issues that had made Tom skeptical of the palliative care was the morphine effects observed in another member of the community, Aunty Joyce. However, the little doses of morphine that Tom is receiving at the moment are not helping to alleviate his symptoms. The sharing of evidence-based decision with family members such as Carina will help improve their knowledge on the available options and improve the accuracy of their expectations on the possible harms or benefits (Hohler and Faan, 2017). The nurse also needs to develop a therapeutic plan to address the symptoms that Tom is experiencing. These medications can help to alleviate the symptoms such as shortness of breath and missing meals. However, this needs to be based on evidence-medicine and wide consultations with the family (Becker, 2016). The discussions with the family could also expose cues to other possible medications that Tom might have used in the past. Nevertheless, the plan should ensure that the wishes of Tom as the patient are respected, and the nursing professionalism is maintained throughout the process. Conclusion The management of Tom is surrounded by cultural, ethical and legal dilemmas. The goals of the management of Tom should include alleviation of the symptoms he experiences, and the fostering of an appropriate spiritual and physical environment for the transition. There is need to establish a proper communication channel with the family members that might provide useful hints in the management of the patient. The shared decision-making process with the family members would provide a realistic appreciation of the probable risks and benefits of the treatment options. It would also help the family to make informed decisions on the potential outcomes. References Becker, R., 2016.Fundamental Aspects of Palliative Care Nursing 2nd Edition: An Evidence-Based Handbook for Student Nurses(Vol. 3). Andrews UK Limited. Cherry, B. and Jacob, S.R., 2016.Contemporary nursing: Issues, trends, management. Elsevier Health Sciences. Crawley, L. and Koffman, J., 2015. Ethnic and cultural aspects of palliative care.Oxford Textbook of Palliative Medicine, p.84. Duggleby, W., Kuchera, S., MacLeod, R., Holyoke, P., Scott, T., Holtslander, L., Letendre, A., Moeke-Maxwell, T., Burhansstipanov, L. and Chambers, T., 2015. Indigenous people's experiences at the end of life.Palliative supportive care,13(6), pp.1721-1733. Hohler, A.D. and FAAN, M., 2017. Shared decision making. Johnston, G., Vukic, A. and Parker, S., 2013. Cultural understanding in the provision of supportive and palliative care: perspectives in relation to an indigenous population.BMJ supportive palliative care,3(1), pp.61-68. Kamal, A.H., Maguire, J.M., Wheeler, J.L., Currow, D.C. and Abernethy, A.P., 2012. Dyspnea review for the palliative care professional: treatment goals and therapeutic options.Journal of palliative medicine,15(1), pp.106-114. Kelley, A.S. and Morrison, R.S., 2015. Palliative care for the seriously ill.New England Journal of Medicine,373(8), pp.747-755. Lau, P., Pyett, P., Burchill, M., Furler, J., Tynan, M., Kelaher, M. and Liaw, S.T., 2012. Factors influencing access to urban general practices and primary health care by Aboriginal AustraliansA qualitative study.AlterNative: An International Journal of Indigenous Peoples,8(1), pp.66-84. Morton, P.G., Fontaine, D., Hudak, C.M. and Gallo, B.M., 2017.Critical care nursing: a holistic approach(p. 1056). Lippincott Williams Wilkins. Panaretto, K.S., Wenitong, M., Button, S. and Ring, I.T., 2014. Aboriginal community controlled health services: leading the way in primary care.The Medical Journal of Australia,200(11), pp.649-652. Shahid, S., Bessarab, D., van Schaik, K.D., Aoun, S.M. and Thompson, S.C., 2013. Improving palliative care outcomes for Aboriginal Australians: service providers perspectives.BMC palliative care,12(1), p.26.