Enron Scandal Movie Review The Crooked E: The Unshredded Truth TV Movie about Enron Collapse and Key lessons learned from This Movie
Enron Scandal Movie Review The Crooked E
The Crooked E: The Unshredded Truth about Enron Scandal is a television movie that was broadcasted by CBS TV an American television broadcasting company in January 2003 (Cruver, 2003). This movie story was written based on the rise and fall of the Enron Corporation. This movie depicted the real situation, condition, and emotion of those people who have suffered from this Enron scandal. It shows how employees, shareholders, and partners suffered by the fall of Enron. In addition to that, this movie displays how a big number of employees lost their life-savings.
Based on the plot of the Crooked E TV movie, we have outlined three important topics that we presented such as Business Ethics, Corporate Governance, and Corporate Branding. These three topics are related very closely to the movie story.
Firstly, Collins (2009) stated that Business ethics is the extension of the moral philosophy and principles of any organization. Business ethics is a guiding principle; it helps the company to increases productivity and to run smoothly based on honesty and integrity. Based on both the case study on Enron and the movie story, it is very clear that the higher authority of the Enron Corporation did not follow the business ethics properly. They were indulged in corruption intentionally that is against of Business ethics. So, the Enron Corporation collapsed because of not practicing business ethics. “Ethics and integrity are at the core of sustainable long term success,” says Richard Rudden, managing partner at Target Rock Advisors in New York State.
Secondly, corporate governance is an inevitable system of rules, processes, and practices by which a company is established and regulated (Moore & Petrin 2017). The Enron Corporation became fail to maintain corporate governance; therefore, it got bankruptcy. A strong corporate governance framework in a company can protect Partners, employees, stakeholders, and maintaining investor confidence. Due to not maintaining and practicing corporate governance in the Enron corporation, a big number of employees, shareholders, and partners suffered by the fall of Enron. In addition to the higher authority of the company, the audit officer was also indulged in corruption that represents the lack of practicing corporate governance inside the company. Therefore, the lack of corporate governance in the Enron Company is another vital case of falling down.
Finally, According to Moore and Petrin (2017), corporate branding denotes the practice of marketing the brand name of a corporate entity, as opposed to specific products or services. Corporate Branding became a much-talked issue when Enron became bankrupt. The higher authority paid huge attention to corporate branding to attract stakeholders and employees for investing more money in the company. In 2000, Enron’s share skyrocket to an all-time high of $90.56 because of tricky corporate branding. They managed to conceal its mountains of debt and losses. Enron became a very famous company in the US within a short time because of proper and tricky corporate branding. They exaggerate only the positive aspect of the company and hide negative features during marketing. Enron was listed as one of the “100 best companies to work for in America” by Fortune magazine.
Key Takeaways From Enron Scandal Movie Review
Based on the Enron Scandal Movie Review The Crooked E: The Unshredded Truth, we have outlined some key takeaways from this movie such as be careful of starting a new job, never invest all money at a business and investigate the company before investing money. We will use in our life hereafter and also pass on to your children. These key takeaways are very important for building a secure and successful career. It is estimated that 4,500 employees lost their job because of the Enron scandal, therefore I will be more conscious whenever starting a new job as well as suggest others to investigate more about the company before starting the job.
Never be amused to see the output of the company but try to see a study about the inner phenomenon. In addition, we have to be more careful when investing our all money at a business. The finding I got from this movie is to invest half of our money and keep the rest of the money to recover if we lost money somehow. Many young investors sank down because they invested all of the money that they accumulated.
Finally, we have to have a heuristic mentality when study about a company for investing. It is an indispensable process to study background information and map out the future condition of the company. A big number of young investors were seduced by the company’s “get rich quick” mantra but the company collapsed within a short time dramatically. There is no alternative but we have to be more conscious before starting a new business or job.
Balmer, J. M. (2017). Corporate brand orientation: What is it? What of it?. In Advances in Corporate Branding (pp. 175-202). Palgrave Macmillan, London.
Collins, D. (2009). Essentials of business ethics: Creating an organization of high integrity and superior performance (Vol. 47). John Wiley & Sons.
Cruver, B. (2003). Crooked E: The unshredded truth about Enron.
Moore, M., & Petrin, M. (2017). Corporate Governance: Law, Regulation and Theory. Macmillan International Higher Education.