Enron Internal Control

Seniors are required to take the BBA comprehensive examination to test skills like communication, analyzation, quantitation, and problem solving. These skills are vitally important for personal financial advisors to succeed in their career. They also require three papers because they believe that writing like a business professional is critical for a financial advisor, but the learning does not stop there (“Requirements”, n.d.). Financial advisors have to continue to learn about how money works day to day in the world because it is constantly changing. After college, most personal financial advisors enter an on-the-job training period which lasts more than a year in most cases.

She has been in middle management for 14 years. Ms. Mascaro started in 1983 as a Loan Officer, made a lateral move to a Member Services Representative, Branch Manager to eventually VP Member Services. Her job duties include managing ATMs, two branches, overseeing the Call Center, scheduling staff, and implementing new services and products. Since Ms. Mascaro is a middle manager, she utilizes many skills. Time-Management, Human Relations, and Technological skills are the skills she believes to be most crucial

ResNet started because Northwest airlines were losing lots of money in the reservation call center. Northwest airlines objective was fixing the financial difficulties in the 1990s. Fay Bauchine selected Peeter Kivestu to be the project manager for ResNet. The reasons why he selected Peeter Kivestu were that he knew the business, he understood the technology, and knew how to use the technology to improve the business. Initiating ResNet had many difficulties, so they divided into three projects.

The accused may claims that this offensive act was doing in the best of intention but not in any form of recklessness. All of these tactics are suggested in the second strategy of evasion of responsibility under Image Restoration Theory. Furthermore, reduce offensiveness is the third strategy of Image Restoration Theory. Reduce the offensiveness of the act is the strategy seeking to offer an alternative perspective to the problem. There are six tactics of reduce offensiveness strategy.

As a student of economics, I believe that the repeal of the Glass-Steagall Act via the Gramm-Leach-Bliley Act was not a primary reason behind the Global Financial Crisis 2008; however it did however worsen the situation. The Glass Steagall Act The Glass Steagall Act was initially signed into law in 1933 after the famous stock market crash of 1929. Commercial banks had invested heavily in the stock market and after the crash, a hefty part of the population lost their savings. To prevent something similar from happening again, the Glass Steagall Act was passed. The essence of this act was a complete separation of commercial and investment banking activities.

Understand the requirements of written and verbal business communication 1.1 Explain why different communication methods are used in the business environment In this assessment I will be proving that I understand the requirements of written and verbal business communication. I want to start off by explaining that I work for a very diverse team, Safeguarding, Infection Control and Prevention and Tissue Viability so there is a lot of variable communication methods that I am required to use in order to succeed within my role. There are two main types of communication that I have regularly used in my role, formal communication is the main type of communication that I use in my work environment as I am required to be professional when I speak to colleagues around the Trust and when I attend meetings. It is my responsibility to take notes and feedback to the group when appropriate, and I need to be aware of the terminology I use to suit the needs of that specific medical group. Different communication methods are used in the business environment to disseminate information in a way that would be most appropriate for the relevant audience; for example when speaking to the Chief Executive of the organisation it is best to use a very formal means of communication

To help get a better picture of what it looked like, McClelland compared the declining of workers in unions and the middle class income, and says that they fit on the same axis. This can support that fact that that the middle class was not living the American Dream and that they can’t depend on the market to help them. That was until George Bush and Barack Obama came around and started helping the middle class get back on their feet. They helped by giving money to the big businesses in need. For example, Bush gave money to Wall Street to help with the bail and Barack Obama helped by getting General Motors through bankruptcy and passing the Affordable Care

A year before, Enron falsified their books and claimed revenues of nearly $101 billion. Here is a simplified explanation of what happened. Supported by Enron (2002), the Enron Creditors Recovery Corporation created offshore accounts, allowing them to avoid taxes and raise the profitability for their company. To make up the illusion of greater profitability, each year accountants performed contorted financial deceptions, while the company was continually losing money. The professional term for this type of fraud is called round-trip trading.

Wall Street, in collusion with Washington by means of campaign financing and political donations, has been deregulating financial markets since the 80s in order to benefit themselves. Profiting from riskier and more corrupt behaviour, the relationship between Wall Street and Washington became cosier in the belief what was good for Wall Street was good for Main Street (Giltin, 2011 p.7, 10, 11). The American public began to exert their feelings of frustration with the occurrence of The Global Financial Crisis (GFC). Pointing the finger largely at Wall Street, Americans blamed the greed and corruption of financial institutions for inciting the crisis. The feelings of distain were only further enhanced when tax payer bailouts saved Wall Street from a problem that was essentially self-created.

As a result of the demise of Enron, an issue of sustainability of the shareholder model of corporate governance has come to the forefront of economic debate all over the world. The Enron failure shows a failure of corporate governance where internal control mechanisms were short- circuited by conflicts of interest that enriched some managers at the expense of the shareholders. As a result of that it led to a complete reassessment of ‘shareholder value’ system which became dominant in the United States and United Kingdom in the 1980s and 1990s (Dore, 2006). It is obvious that Enron case has raised important questions relating the shareholder model of corporate governance, showed some noticeable weaknesses, but also declared one significant