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The company had to come up with a new business strategies to generate profits and cash flow in order to survive. Kenneth Lay, CEO, hired McKinsey & Co. to help in developing Enrons survival business strategy. A gas pipeline company climbed it’s way into the worlds largest energy-trader by scamming investors, the accounting Enron scandal was a real systematic manipulation of fiduciary rules to create an illusion of a very successful company. Enron accounting scandal was discovered and proved that they made deliberate attempts to alter its financial statements to make them look more attractive to investors and lenders. Following these manipulations many parties have been affected and will continue to be affected in the future, more specifically, many years. The accounting Enron scandal that lead to the Enron collapse was due in great part in the activities of their C.E.O., Jeffrey Skilling. Not only was he in charge of controlling one of the largest energy companies in the world, he was also in charge of many other side undertakings that may have been in a conflict of interest with his main job as Chief Executive Officer of Enron. The baffling part of this situation was that the other members of the Board of Directors for Enron all voted on this and passed it. There are three specific ways in which the accounting Enron scandal occured by misrepresented figures on its financial statements.

The accounting Enron scandal case was broadcast on television news for months in 2002. The accounting Enron scandal story was around the news for a period before and after the downfall of the company. Now days, however, one seldom hears about Enron or its top executives ? and the reason is not because they are all lodged safely in a federal prison. Rather, it because (a) the president and the congress gain no longer gain points by grandstanding on the issue, (b) the Department of Justice finds its difficult to put the top brass in the docket, although the Department has pressured some lower-level Enron executives into confessions, and (c) the public appears to be beyond caring. The accounging Enron scandal, however, was and is an important development for American society. The scandal demonstrated just how easily ethical standards can be discarded at the highest corporate levels when the price is right. This paper examines the accounting Enron scandal from a perspective of ethics in management. The phrase ethics in management in management is an unfortunate one.It implies that the set of ethical principles applicable in corporate management may be somewhat different from the application of ethical principles in other societal endeavors. Perceptions of that sort by top managers at Enron may have made it easier for them to pursue the courses of action that landed themselves and the company in the troubles that eventually emerged. . . . es in the trading of energy market was the manipulation of prices to created inflated and unwarranted profits for Enron at the expense of utility companies and utility consumers. Ultimately, however, the inflated profits contributed to the creation of a false representation of Enron’s performance that created financial benefits Enron selected executives at the expense of investors and the public. Similarly, the immediate intent of deceptive accounting practices involving Enron and fictitious business entities was to shield from investor and governmental regulators the fact that Enron was not a profitable company as was being reported publicly. Additionally, however, the deals between the company and fictitious entities diverted large amounts of money from the company to selected high-level executives at Enron. These behaviors were injurious to Enron employees, investors, and consumers (Axtman & Scherer, 2002). One may attempt to assess the behaviors of the offending Enron executives (all at senior levels of the organization) within a framework of business ethics. The term “business ethics” appears to imply that behaviors that are ethically unacceptable in other facets of society may be acceptable in the business realm. The accounting Enron scandal will go down in history as one of the most notorious case for American society.

Can you think of a business that doesnt want to innovate and grow? The success and/or failure of an organization depend entirely upon the strategy formulation and the ability to execute that strategy. How do you decide upon a strategy?

Dr. Zunaira Munir (Founder and Managing Director of Strategize Blue) is a business strategist who focuses on innovative business growth strategies to help companies break out of competition and achieve profitable growth. With a client list that reads like a Who’s Who in Business, Dr. Munir addresses companies eager to grow and willing to innovate from organizations, large and small. Recent clients include Hewlett Packard, Coca Cola, T-Mobile, Center for Non-Profit Management, Ohio State University Medical Center, Technologico de Monterrey, American Advertising Federation, Banco Colombia, RJ Reynolds and California Chamber of Commerce to name a few.

Dr. Munirs specialized topic is Blue Ocean Strategy, a systematic approach to innovate and achieve profitable growth. It originates from the best selling book Blue Ocean Strategy (authored by Professors Kim and Mauborgne of INSEAD in 2005) that is known to have revolutionized business strategy worldwide.

Blue Ocean Strategy stresses businesses to make their competition irrelevant instead of continuously striving to beat it. As a senior member of the Global Blue Ocean Strategy Network, she works directly with Kim Chan and Renee Mauborgne.

Blue Ocean Strategy suggests that the traditional strategies are not sufficient to achieve or sustain profitable growth in the present day markets marked by cut-throat competition. Instead of striving to do better than the competitors for grabbing a bigger share of the market, it focuses on value innovating for creating uncontested market spaces where competition becomes irrelevant. It is about creating new wealth in the market instead of fighting over and distributing existing wealth in the market.

Additionally, whereas all other traditional approaches consider innovation to be a trial-and-error process that depends on an entrepreneurs creativity and risk-taking, Blue Ocean Strategy comes with a complete set of tools, frameworks and methodologies that make the innovation process systematic and replicable that anybody can learn and apply to achieve profitable growth. Challenging the traditional assumption that opportunities and risks always come together, Dr. Munir focuses on minimizing risks while maximizing opportunities to achieve business success.

The system is quite generalizable and scalable and has been applied for formulating national strategies; for achieving corporate success; for generating growth in small businesses as well as for an individuals success in career.

With a PhD in Innovation Management from Wuhan University of Technology in China and dynamic training and presenting experience in Asia, Europe, South America, as well as the U.S Dr. Munir continue to help companies develop concrete ideas and practical steps to create new market space

Brendan Murphy is the Marketing Manager for Strategize Blue http://www.strategizeblue.com, a Blue Ocean Strategy Training and Consulting company based in San Diego. He works under Dr. Zunaira Munir, the internationally exclaimed expert and keynote speaker on Blue Ocean Strategy.