Enron discussion questions worksheet 1 your name enron. The smartest guys in the room discussion questions a moral compass 1. The smartest guys in the room was assigned viewing as part of our unit on business ethics and all i can say is wow. In 2001, the collapse of the enron corporation was of one of the largest business scandals in american history. The smartest guys in the room the amazing rise and scandalous fall of enron album. The amazing rise and scandalous fall of enron teen to teen. The smartest guys in the room frauds and financial scandals in the business world were before an enrons case and will be after it. The author of this theory suggests that firm must be valuable, rare, imperfectly imitable and perfectly non sustainable. The movie profiles its two leaders, ceo ken lay and president jeff skilling, who lied and cashed in while their 20,000 employees were robbed of their life savings. Enron the smartest guys in the room quiz flashcards. The smartest guys in the room the amazing rise and. The smartest guys in the room is a compelling, fastpaced inquiry into the buildup of enron and its very public undoing. Pdf the smartest guys in the room the amazing rise and scandalous fall of enron.
The tenthanniversary edition of the definitive account of the enron scandal, updated with a new chapter the enron scandal brought down one of the most admired companies of the 1990s. The amazing rise and scandalous fall of enron mclean, bethany, elkind, peter on. Meticulously researched and character driven, smartest guys in the room takes the reader deep into enrons pastand behind the closed doors of private meetings. A roombyroom guide to creating a home that makes you happy mrs. The amazing rise and scandalous fall of enron is a book by bethany mclean and peter elkind, first published in 2003 by portfolio trade. Enron dives from the seventh largest us company to bankruptcy in less than a year in this tale told chronologically. Just as watergate was the defining political story of its time, so enron is the biggest business story of our time. Based on the book by fortune magazine reporters bethany mclean and peter elkind, the film explores the lengths to which the company went in order to appear incredibly profitable, and reveals how kenneth lay, jeff skilling, and other. Accounting is the respective systematic as well as the recommended comprehensive recording of the relevant financial transactions in line with a particular business. The smartest guys in the room is the inside story of one of americas greatest business scandals, in which top executives of the countrys seventh. The smartest guys in the room recounts the rise and fall of enron, the spectacularly fraudulent energy trading company whose 2001 collapse cost investors hundreds of millions of dollars. Smartest guys in the room, quoted in the documentary film the. The movie enron smartest guys in the room is about one of the biggest corporation corruptions in the united states. The smartest guys in the room get the sierra clubs perspective on enrons role in the california power issue.
The smartest guys in the room puts the key focus on them with the help of recording, archive reports and interviews with many leading economic experts counting mclean and former enron workers. Pdf the lesson from enron case moral and managerial. In 1985, enron corporation, was a company that delivers pipeline for natural gas and electricity, while mergering with houston natural gas and internorth. As the ceo of enron, kenneth lay was masterful at using expert power.
Ken lay and jeff skilling had built their own plush staterooms. Enron quickly grew into a reputable company that generated enormous profits. Deputy of lays at florida gas and chief strategy officer at hng initially became head of enron international and was a get it done type guy who could be both nice and aggressive first prima dona first guy to get genuinely rich and get money for a project that he developed first guy to take advantage of lay and the company and only say enron as a place to get rich and. The film which is written and directed by alex gibney and the book chronicle the collapse of giant energy company enron, the repercussions of which are still being felt in corporate america. The smartest guys in the room the amazing rise and scandalous fall of enron. They failed to see that the worlds big banks had little understanding of the risky trust me paper financial assets on their balance sheets. In 2005, it was adapted into a documentary film, enron.
Description of the smartest guys in the room by bethany mclean pdf the smartest guys in the room. Accounting can as well be referred as the relevant process that ensures there is a proper summarizing, analysis not forgetting g. Using a combination of public hearing footage and new interviews with former enron. Mclean and elkind are credited as writers of the film alongside the director, alex gibney. The smartest guys in the room by bethany mclean pdf. Alex gibney, who wrote and produced eugene jareckis the trials of henry kissinger, examines the rise and fall of an infamous corporate juggernaut in enron. Which sources of power did upper management top executives of enron use to get their employeesfollowers to do what they wanted. The smartest guys in the room 2006 110min directed by alex gibney, this is the inside story of one of historys greatest business scandals, in which top executives of americas 7th largest company walked away with over one billion dollars while investors and employees lost everything. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. A fascinating exploration of corporate culture and epic misdeeds, enron. The smartest guys in the room i international economy. Pdf pdf the smartest guys in the room the amazing rise. The smartest guys in the room 2 february 2017 the purpose of this paper is consider three possible rationales for why enron collapsedthat key individuals were flawed, that the organization was flawed, and that some factors larger than the organization e.
One of the people interviewed in the movie states that there existed a high school mythology at enron. Vrio analysis for enron the smartest guys in the room case study identified the four main attributes which helps the organization to gain a competitive advantages. Boys favorite authors write about being boys domino. Enron, the smartest guys in the room essays writers. The smartest guys in the room pdf summary bethany mclean. A documentary about the enron corporation, its faulty and corrupt business practices, and how they led to its fall. Enrons fall from grace is probably the most scandalous business story of our times, its skyrocketing profits followed by the largest bankruptcy case in us history. Drawing on a wide range of unique sources, the book follows enrons rise from obscurity to the top of the business world to its disastrous demise. But a chain of events lead to an enormous shock on the wall street and went down in history as. The entire story of how enron corporation, one of the worlds major energy giant, collapsed is beautifully portrayed in the 2005 documentary film called the smartest guys in the room which is based on the bestselling 2003 book of the same name, written by fortune reporters bethany mclean and peter elkind. The smartest guys in the room is a 2005 american documentary film based on the bestselling 2003 book of the same name by fortune reporters bethany mclean and peter elkind, a study of one of the largest business scandals in american history. However, the traders are fired after it is revealed that they gambled away enrons reserves. The smartest guys in the room by turns amazing, amusing and appalling in ways that recall michael moore at his most sardonically outraged, enron. The smartest guys in the room 2005 starring peter coyote and john beard on dvd and bluray.
The collapse resulted in criminal trials for several of the companys top executives, bringing the facts of exposure to enrons involvement in the california electricity crisis, where the company had rigged the market in order to generate huge speculative profits. The smartest guys in the room pdf summary the smartest guys in the room provides a recap of the story that will later be known as the rise and fall of enron. Analysts heralded enron as the archetype to which companies should look if they hoped to succeed in. The smartest guys in the room takes viewers from the heyday of soaring profits through the prolonged fallout, including the collapse of arthur andersen, the 2006 convictions of lay, skilling, and fastow, followed by lays death two months later, which vacated his conviction. The executives and insiders at enron knew about the offshore accounts that were hiding losses for the company.
With john beard, tim belden, barbara boxer, george w. The smartest guys in the room starts with a suicide just to up the ante a bit. The smartest guys in the room is a wellwritten, wellresearched attempt to unravel the financial shenanigans that led to enrons bankruptcy. The smartest guys in the room 2005 rotten tomatoes.
The smartest guys in the room full movie jamulangkalas kanopelnade enron. The smartest guys in the room 610 movie clip useful idiots 2005 hd duration. Ethical issues in enron the smartest guys in the room. Based on the bestselling book the smartest guys in the room by fortune reporters bethany mclean and peter elkind and featuring insider accounts and incendiary corporate audio and videotapes, gibney reveals the almost unimaginable personal excesses of the enron hierarchy and the utter moral vacuum that posed as corporate philosophy. The smart guys at enron were, in fact, clever but amoral enough to profit from those conditions. And just as all the presidents men was the one watergate book that gave readers the full story, with all the drama and nuance, the smartest guys in the room is the one book you have to read to understand this amazing business saga. At its height, enron was the sixth largest energy company in the world. The smartest guys in the room recently visited sydney for the release of the new documentary based on her book. Love for sale by cole porter, performed by julie london. Things are going on here which one man felt, if exposed, would ruin his life so he took it himself. Basically any principle of business ethics articulated in textbooks on business was violated in the greed fueled pursuit of profits.
This is also what happened in the period leading up to the 2008 great financial crisis. The smartest guys in the room 510 movie clip something didnt add up 2005 hd duration. Later, in her book, the smartest guys in the room, she recalled speaking off the record with a. The amazing rise and scandalous fall of enron is a business book that describes enron scandal. The emphasis is on human drama, from suicide to 20,000 people sacked. Enrons rise and surprising collapse in 2001, left everyone wondering what was going on, behind the curtains. The smartest guys in the room is streaming, if enron. Our the smartest guys in the room the amazing rise and scandalous fall of enron album or see the smartest guys in the room the amazing rise and scandalous fall of enron pdf. Based on the bestselling book of the same name by fortune reporters bethany mclean and peter elkind, a multidimensional study of one of the biggest. Writerdirector alex gibney examines the rise and fall of an infamous corporate juggernaut in enron. The smartest guys in the room takes viewers from the heyday of soaring. Bethany mclean, coauthor with peter elkind of the book enron.
The smartest guys in the room the smartest guys in the room. Its a compelling and sometimes soapy indictment of the worst side of business, and it queasily foreshadows the financial crisis of 2008. It tells the story of how enron rose to become the seventh largest corporation in america with what was essentially a ponzi scheme, and in its last days looted the retirement funds of its employees to buy a little more time. Vrio analysis of enron the smartest guys in the room. This energy trading company suddenly collapsed in 2001, leaving pretty much everyone in shock and disbelief. Use specific examples of how they used each source of power you mention.
The smartest guys in the room is a 2005 oscarnominated documentary by alex gibney which charts the rise, peak, and fall of the energy corporation enron. Enron grew from a pipeline company to an economic powerhouse by playing the middle man, selling long term gas. Countless books and articles were written about it, but only the smartest guys in the room holds up a decade later as the definitive narrative. The smartest guys in the room movie script in pdf format. The enron scandal, publicized in october 2001, eventually led to the bankruptcy of the enron. Bethany mclean and peter elkind are the authors of this book. Its a judicial bit of reenactment that sets the tone nicely.
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