The Pressures Of Running A Successful Business - 1177 Words

The pressures of running a successful business may present ethical dilemmas at one point or another in the life of a business leader. Consider the many leaders and entrepreneurs who face challenging situations. One such leader is Arthur Andersen who became bankrupt and was forced to shut down his prestigious ninety-year-old auditing company, finding himself in the middle of several scandals, but one in particular befell him for good. From a man of integrity, for over ninety long years, to his infamous conduct which resulted in him being brought to court and indicted by the Securities and Exchange Commissions (SEC) before a grand jury for making bad leadership decisions. In October, 2001, Arthur Andersen, the supervisor of the Enron account, found himself in deep hot water with the Enron Oil Company in Texas, as the SEC announced that an investigation into the accounting of Enron was pending (Ferrell, Fraedrich, Ferrell, 2011). On November 8, 2001, Enron was forced to present its financial statements of five years to which Andersen was the auditor (Ferrell, 2011). About five hundred and eighty-six million dollars in losses were ascertained and therefore, Enron, was forced into bankruptcy one month afterwards (Ferrell, 2011). By December 2001 Enron filed bankruptcy (Ferrell, 2011). This event triggered a domino effect and as Enron’s accountant, Andersen was charged for obstruction of justice. Accountants measure and disclose financial information, with assurance of accuracy toShow MoreRelatedEssay about Stakeholders of the Offshore Wind Company776 Words   |  4 Pagesactions of the business. In this case, the Offshore Wind Company (ltd). In this piece, I am looking to investigate the importance of shareholders, their interests, environmental thoughts, and their adverse to success. Stakeholders are very important in todays modern society, as they can hold the key to the companys success. They take care of the financial issues, and decisions made by and for the company. The six main stakeholders are Financiers, Pressure groups,Read MoreEvaluation Of Personnel And Departments Aimed At Pruning Deadwood Cause Far Too Much Harm At The Organization1534 Words   |  7 Pagesand create an established goal that challenges everyone within the company. By doing this they can gain so much more potential from their employees. It motivates people when they know there is a purpose for their hard work and dedication within a business. When the company achieves that goal not only does it makes for a better/ happiness working environment, but it comes with other advantages, such as getting an employee and/or resulting in a greater amount of revenue for the company. That is whyRead MoreBusiness Manager Is An Individual Imposed With The Running Of A Business1428 Words   |  6 PagesA business manager is an individual imposed with the running of a business. A business manager ensures that the strategies proposed are implemented to the benefit of the company. Mana gers organize and coordinate the execution of tasks, monitor their implementation, and motivate employees. With these activities, they seek to meet the organization s goals: to maintain and increase productivity and profits, to meet the changing and more specific customer needs, and to introduce technological changesRead MoreMy Personal Development Of Business957 Words   |  4 Pagesalways had a dislike for most of the things I have learned in school, but developed a passion for the world of business. Tony Hsieh said, â€Å"Chase the vision [or plan], not the money; the money will end up following you.† Over the past years, my intellectual development involving business has resulted in a growth of my desire to learn and succeed in school. One day I was helping my dad pressure wash one of our rental houses. After finishing, I realized that it was a pretty simple task and maybe couldRead MoreEssay about Tma02 B1201402 Words   |  6 Pagesstarted to receive real pressure about my performance, I did protest that I felt I had not had adequate training but was ignored. After 1 more week I decided to leave for another company. 2.2 Using the â€Å"Induction and socialisation† concept (Session 3, book 2) it is clear to see that the company mentioned was lacking these HRM policies. As important as a big modern office is, the induction and socialisation of each employee is absolutely vital in creating a successful working environment. ARead MoreWhat Makes A Good Software Developer Is Creativity?1223 Words   |  5 Pageswork under pressure, meet deadlines and being self motivated are probably the most important characteristics for a software developer. We live in an exciting time where software is getting developed everyday. That breeds competition naturally. Someone is bound to have a similar software idea or platform as another software developer. A good software developer gets their product out there the fastest or when it is needed by someone who hands them the project. You re constantly under pressure to be theRead MoreI Am An Aspiring Entrepreneur866 Words   |  4 Pagesnever the person t hat knew what I wanted out of life. I thought about it countless times and I had this desire to run my own business, however, I never had a business idea. I never knew where to get started. I had zero education on an alternative style of living. I always thought I was weird, and I truly believed I would eventually become a bum. There was so much social pressure on everyone having their whole life planned out. I needed to know what I was going to do. I did eventually figure it all outRead MoreIntegrated Corporate Reporting : Business Organization1523 Words   |  7 PagesIntegrated corporate reporting explains the culture of business organisations to report the performance. The reporting system helps businesses to think effectively about their plans and, strategy make informed resolutions and manage important. With such consideration, they tend to be safe from company failure by building an investor and stakeholder trust. Additionally, these helps in improving the future performance of the organisation. For the reporting to be aired to the public, it has to passRead MoreCharles Martin in Uganda Case Study976 Words   |  4 Pagesinto the present companies doing business there are faced with the stark reality that their busi ness dealings maybe tainted because with such corruption ones place among the powerful is never assured. Nepotism is the norm in Uganda. Nepotism, the practice of allowing relatives to get jobs or promotions, even when undeserved thrives in Uganda. With jobs being awarded to family members, mostly through word of mouth connections language is very important to a business dealing in Uganda. Although EnglishRead MoreThe Success Of A Business Venture Essay1145 Words   |  5 Pagesdecide to take the risk by making a capital investment hoping to successfully run the business and get good returns. Running a business venture may not be as exciting as it may seem. As much as there is potential for success, so is the potential for failure and therefore patience is a requirement in entrepreneurship. Many successful entrepreneurs will tell you that they had to overcome a lot of turbulence in their business resulting from instances of persistent loss making and profitmaking. To understand