The Crooked E: The Unshredded Truth about Enron 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 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 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.
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.