Enron Scandal Research Paper Example | Topics and Well Written Essays - 3000 words

Enron Scandal - Research Paper Example This created financial discrepancies in the form of loans. Profits were artificially generated in order to mention the cash flows that came in the form of such loans. Another technique used by the organization was to speculate on the energy sector. It calculated the market prices for the energy sector. The importance of ethics has also been demonstrated in the aftermath of the scandal. Corporate organizations need to have sound policies that demonstrate commitment, responsibility, and good governance. Such a culture helps employees to work for the prosperity of the organization. The collapse of Enron triggered shockwaves that took time to heal. The legislation in that time period allowed audit firms to provide diverse services which helped in the creation of fraudulent or misleading financial reports and statements. A major problem which occurred was the fact that Enron could recruit auditors that were inclined to make favorable statements in the organizational interest. Corporate scandals have a negative impact on economic systems because they lead to drastic changes. The Enron scandal that erupted in 2001 shook the foundations of the American financial system. It had a catastrophic impact on the confidence of the market because the organization had been involved in fraudulent and malicious financial activities. The organization would become insolvent while its auditing partner, Arthur Anderson was also on the verge of bankruptcy. Enron was an organization that had been created in the mid-1980s. Jeffrey Skilling, Kenneth Lay, and Andrew Fastow were responsible for the scandal which involved the lack of proper financial reports and statements (Brewer & Hansen, 2002). Stock values were overstated in order to attract more cash flows. The Enron scandal had widespread repercussions on the entire financial system. The main executives received sentences while certain firms like Citigroup and Anderson Auditing had to pay heavy.

Product Development Theory Comparison Essay Example | Topics and Well Written Essays - 1750 words

Product Development Theory Comparison - Essay Example They are not just branding a product. They are designing a total package. In creating a brand there are several different levels to be considered. First, there is the step by step technical issues that have to be addressed. However, creating a brand is more than just creating the catchy phrase, name or design that signifies to the world that this product belongs to this company. Branding and brand creation encompass a whole host of tangible and intangible elements. In beginning, this discussion brand creation, the first area to cover is the technical aspects of creating a brand. After that, the conceptual ideas will be discussed as well as steps to achieving an all-inclusive branding package. The brand itself is more than just the product itself. There are specific steps that must be taken in the brand creation process. The first step is to arrive at a brand name, word, phrase, symbol or device that will set your product apart from the others. It must be unique and creative. It could be catchy, clever, aesthetically appealing, different, or simple yet unforgettable. Whatever the choice it must be unique and distinctive. Upon arriving at a perspective brand, the next important step is to determine that the name is free from all encumbrances, that is, it is not already in use by someone else. This is easy enough to accomplish via the internet to ascertain if someone has the name you have arrived at already brand named. It is also wise to search internationally, as well. You want your brand to stand out. Selecting one so similar to a host of other names will not achieve this. Having determined that your selected brand name is available you should immediately place a trademark on it to make it exclusively yours. Protecting your brand is an essential part of the creating brand value.