examining a business failure - enron Free Essay, Term Paper and Book Report
Enron was a United States based energy organization based in Houston, Texas. At its peak, this organization employed approximately 22,000 people and claimed revenues of approximately $100 billion through the operation of electricity, natural gas, pulp and paper, and communications companies (Wikipedia 2009). From its roots as Northern Natural Gas Company to its peak as Fortune magazines winner of the Americas Most Innovative Company for an astonishing six consecutive years, Enrons growth and profitability were dreamlike for investors. Unfortunately for those same investors and creditors, the rapidness of Enrons fall far exceeded the grandeur of its ascension to power.
Enrons demise was ultimately the result of a major financial scandal that involved both Enron and its accounting firm Arthur Anderson. Although questions abounded concerning Enrons transparent books, this scandal was primarily uncovered in 2001. During this time, Enron was forced to make a series of revelations that revealed highly irregular accounting procedures undertaken by the organization......
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