Professional Documents
Culture Documents
A city boy, Kenny, moved to the country and bought a donkey from an old farmer for $100.00.
The farmer agreed to deliver the donkey the next day.
The next day the farmer drove up and said, "Sorry son, but I have some bad news, the donkey died last
night."
Kenny replied: "Well then, just give me my money back."
The farmer said: "Can't do that. I went and spent it already."
Kenny said: "OK then, just unload the donkey."
The farmer asked: "What you goanna do with him?"
Kenny: "I'm going to raffle him off." (Note: To raffle is to sell a thing by lottery - draw lot - to a
group of people
each paying the same amount for a ticket)
Farmer: "You can't raffle off a dead donkey!"
Kenny: "Sure I can. Watch me. I just won't tell anybody he's dead."
A month later the farmer met up with Kenny and asked, "What happened with that dead donkey?"
Kenny: "I raffled him off. I sold 500 tickets at two dollars apiece and made a profit of 998.00."
Farmer: "Didn't anyone complain?"
Kenny: "Just the guy who won. So I gave him back his two dollars."
Kenny grew up and eventually became the chairman of Enron.
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Enron-Introduction
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Enron-Rise and Fall
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What went wrong?
Accounting and corporate governance in the United States, ethical quality of the culture of business
generally and of business corporations in the United States.
Change of business strategy and corporate culture to satisfy false means.
Lack of efficient board of directors.
Off book accounts.
Excessive stock options and excessive corporate compensation.
Financial cleverness.
Misuse of Government rules and regulations.
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Unethical practices & Culprits
1993-2001: Enron senior management used complex and murky accounting schemes to reduce Enron’s tax
payments
• to inflate Enron’s income and profits
• to inflate Enron’s stock price and credit rating
• to hide losses in off-balance-sheet subsidiaries
• to engineer off-balance-sheet schemes to funnel money to themselves, friends, and family
• to fraudulently misrepresent Enron’s financial condition in public reports
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Business Ethics violated
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What needs to be done to avoid these scandals?
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Conclusion and Questions remaining
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Speakers – slidewise
Slide 2 – Shainy
Slide 3 – Amit
Slide 4 – Sathish
Slide 5 – Rajesh
Slide 6 – Ramesh
Slide 7 – Dinesh
Slide 8 – Umesh
Slide 9 – Himanshu
Each one has to prepare speech for 1 min.
We will have 2 practise sessions on 9th at 5.15 pm as the presentation might be
scheduled for 10th .
Study material on what to speak: You can get it from other attached PPTs / PDF
sheeets. We need not speak on each item. Pick up key points in your
respecitve slides & prepare for a speech of exact 1 min. (it can be slightly
more than 1 min, but not less than 1 min)
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