Innovation Corrupted The Rise and Fall of Enron B Malcolm S Salter 2004
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Innovation Corrupted The Rise and Fall of Enron B Malcolm S Salter 2004 Innovation and Innovative Capabilities are essential components of the progress and development of any society. It was believed until recently that innovation and innovative capabilities can make a society prosperous and prosper. The case study of Enron Corporation, however, reveals a different story, a story of the corruption of these important features. Enron Corporation is now a myth of the corporate world, which once created so many new products that the world
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Section: Porters Model Analysis The Enron corruption scandal was a major disaster in the energy industry in the US. Its impacts were far-reaching. For instance, it led to the decline of Enron as a successful energy company and the firing of 4400 employees. Enron’s failures were caused by its management’s flawed decision-making process. It used technology and innovation to achieve the desired outcome. However, it ended in disgrace when Enron’s executives were caught by regulators.
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Innovation Corrupted The Rise and Fall of Enron Innovation is the new gold rush, the new oil, the new water source for the future. It is now the engine of world economic growth, and the most powerful force for positive social and economic change. And in the last few decades, we have seen a truly remarkable transformation in how it has been approached and implemented. The concept of innovation that originated in the Industrial Revolution, was focused on new factories, new machines, and new product designs. These new products were developed to meet
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Section: Overview Now, in this analysis, I’ll show you a story of an unprecedented corporate failure, Enron. Enron is one of the biggest energy companies in America. On Jan 30, 2001, Enron’s chairman Ken Lay claimed that the company would grow its revenues 120% by 2005, while earning 5% to 7% on average (NY Times, Aug 1, 2001). This story is a warning
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“Enron was a global energy company, founded in 1976, that was renowned for its innovation, performance and culture of creativity. Enron was the leader in the emerging field of international natural gas trades and one of the major developers of new energy trading markets. Enron’s visionary Chairman and Chief Executive Officer (CEO) Ken Lay set the pace for innovation. As he observed in the of the company’s first annual report, “the challenge of change, the opportunity of growth.” I will discuss