Essay: America’s Most Innovative Company

Essay: America’s Most Innovative Company
08/06/2011 Comments Off on Essay: America’s Most Innovative Company Academic Papers on Business Studies,Sample Academic Papers admin

Sample Essay

Enron got the idea items like energy and water could be traded on the market and also traded in futures. This was one of the main reasons of their exponential growth and multiple corporate awards such as the coveted “America’s Most Innovative Company” by Fortune magazine (BBC News, 2006).

Someone reading the Enron case will definitely be flummoxed about how such a successful company a few years ago had to file one of the largest bankruptcies in corporate history. The reason was that Enron was dealing in futures and began to lose tons of money in this market. To prevent a free fall in share price, Enron created various companies to buy failing Enron ventures to keep the losses off its balance sheets and keep investors satisfied (BBC News, 2006).

Moreover, many top level managers at the firm were involved in the fraud and made millions by offloading their stock before the problems became household knowledge in 2001. In the end, Enron had more than 31 billion dollars of liabilities and more than twenty thousand people lost their jobs (BBC News, 2006).

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