Enron: The Collapse of Corporate Culture

Abstract

One of the fascinating aspects of the Enron Corporation’s collapse is the speed with which the company went from being one of corporate America’s paragons to become its chief pariah. Up to the time that Enron’s stock price peaked in August of 2000, the company’s name had appeared many times in leading business publications such as Fortune, Forbes and Business Week . The articles generally marvelled at some aspect of the ‘Enron Miracle’, such as its establishment of an energy derivatives trading platform, or its pioneering use of the Internet to market energy through Enron Online. For example, Enron won Fortune magazine’s ‘America’s most innovative company’ award for an unprecedented six years between 1996 and as recently as 2001; the prestigious Financial Times awarded Enron the ‘energy company of the year’ award in 2000. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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