The Enron scandal in 2001, one of the biggest scandals since the Watergate in the 1970’s, Enron was one of the biggest energy company which provided natural gas. They were the largest energy selling company in the United States. I look up Enron’s ethics code they were based on respect, integrity, communication, and excellence. These values were described as follows:
Respect. We treat others as we would like to be treated ourselves. We do not tolerate abusive or disrespectful treatment. Ruthlessness, callousness and arrogance don’t belong here.
Integrity. We work with customers and prospects openly, honestly and sincerely. When we say we will do something, we will do it; when we say we cannot or will not do something, then we won’t do it.
Communication. We have an obligation to communicate. Here we take the time to talk with one another . . . and to listen. We believe that information is meant to move and that information moves people.
Excellence. We are satisfied with nothing less than the very best in everything we do. We will continue to raise the bar for everyone. The great fun here will be for all of us to discover just how good we can really be.
Enron downfall was they were cooking the books and they got caught doing it they were modifying the balance sheet to indicate favorable performance. This later caused bankruptcy of the company, their shareholders lost almost 11 billion dollars when the the share went from 90 dollars per share to less than 1 dollar per share when Enron went under. The Enron Code of Ethics had obviously done little to help create an ethical environment at the company. The full extent and explanation of Enron’s ethical collapse is yet to be determined as legal proceedings continue.