Agency And Stakeholder Theories To The Enron Debacle

Business and Society Review 110:1 59– 76 Applying the Agency and Stakeholder Theories to the Enron Debacle: An Ethical Perspective Blackwell Oxford, Business BASR  © 0045-3609 O 1 110 BUSINESS CULPAN riginal 2004 Center UK Article and and Publishing, and TRUSSEL Society for SOCIETY Business Ltd. Review REVIEW Ethics at Bentley College REFIK CULPAN AND JOHN TRUSSEL INTRODUCTION W e examine the infamous Enron debacle from an ethical perspective by deï ¬ ning its theoretical underpinnings and analyzing the unethical conduct by top executives at the company in the areas of accounting, ï ¬ nance, and management. After discussing the Enron bankruptcy from the perspectives of various stakeholders, we evaluate the implications of the Enron case and†¦show more content†¦Despite the company’s poor (and declining) operating position and its increasing debt levels, the market was still enamored with Enron’s stock. Seemingly ignoring the fundamentals, the stock price continued to rise during this period. The milestones in Enron’s developments are listed in Table 2. As Table 2 attests, the rapid growth of Enron brought many managerial and ï ¬ nancial problems. The company experienced the pains of fast development by diversifying itself into new businesses and attempting to exploit every opportunity while losing its strategic focus. In other words, Enron had failed to make its transition from its entrepreneurial stage to the elaboration stage. The transition had become more difï ¬ cult with the company’s complex web of partnerships and the management could not resolve the problems associated with the transition. The remainder of this paper proceeds in two stages. First, we review two major theories: agency and stakeholder theories, which have relevance to ethical conduct of managers at business ï ¬ rms. 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Problems And Challenges Facing The Construction Industry Construction Essay Example For Students

Problems And Challenges Facing The Construction Industry Construction Essay There are legion of import challenges confronting today s building industry that are actuating the acceptance of new engineerings such as RFID and detectors engineering. Some are new to the industry, and some are centuries old. Many of these challenges are a direct consequence of building operations, while others a consequence of indirect, peripheral activities. Some of the building issues include workforce considerations, safety, clip restraints, and the changing nature of the work. Non-construction challenges that building industry faces that are portion of the concern landscape include legal issues, authorities ordinances, environmental concerns, and socio-political force per unit areas. Besides in add-on to these challenges, the building industry is extremely competitory, and houses must continually better their productiveness to stay competitory. At present, a chronic job in the building industry that requires pressing attending is building supply concatenation. The building sup ply concatenation web can be classified as a large and complex administration that is hard to pull off. This is because the operations or activities involved in the building web consist of multidiscipline groups and undertakings. The construct of supply concatenation direction is about pull offing information and stuff flows, works operations, and logistics through a common set of rules, schemes, policies and public presentation prosodies throughout its developmental life rhythm. As portion of the back bone for the supply concatenation procedures, the logistics play a critical function in optimising the flow of stuffs, equipment and people. The building logistics is one of the important direction factors in order to predate building undertaking. If stuffs which are needed in building undertaking do non provide in right topographic point on clip, it can do jobs such as detaining agenda, increasing the cost of building and cut downing productiveness. The designation of stuff, placing stuffs traveling flow in logistics and tracking stuffs location are needed for successful undertaking direction in building. A study Improving Construction Logistics published by the Strategic Forum for Construction in August 2005 revealed that rather a considerable sum of waste produced in the building is caused by hapless direction of stuffs bringing services ( e.g. from supply logistics to site logistics ) , stock list, communications and human resources. The effects of hapless construction-logistics are the undermentioned reverse ; approximately 30 % of losingss in overall building cost, lending to the bad image of the industry, hapless quality of merchandise, increased undertaking continuance and added hazards to workers wellness and safety. The usage of Information Technology ( IT ) and larning from other industries were portion of the recommendation and action programs suggested by the Strategic Forum commission for better logistics procedures. Jang et Al ( 2003 ) and Rebolj et Al ( 2008 ) besides suggested that a great trade of bettering the construction-logistics must be focused on the stuffs an d information bringing in order to accomplish better productiveness, avoiding holds and cut downing waste. In contrast to fabricating industries, which net income from durable partnership with providers and clients, construction-logistics supply ironss are well more hard to pull off and optimise due to assorted factors such as variegation of undertakings ( i.e. assorted stuffs, methods, undertaking location ) and proficient complexness of a undertaking. Ahuja V. and Yang J. ( 2005 ) : Towards IT Enabled Supply Chain Communications in Construction Project Management, International Conference on Information and Knowledge Management in a Global Economy, May 2005, pp. 289-302 Ribeiro F. L. And Lopes J. ( 2001 ) : Construction Supply Chain Integration over the Internet and Web Technology, 17th ARCOM Annual Conference, Association of Researchers in Construction Management, Salford, Reading, Vol.1, pp. 241-252, September 2001. Jang H. , Russell J.S. and Yi J. S. ( 2003 ) : A Project Manager s Level of Satisfaction in Construction Logistics, Can. J. Civ. Eng. 30, pp. 1133-1142 ( 2003 ) Rebolj D. , Babic N. C. , Magdic A. Podbreznik P. and Psunder M. ( 2008 ) : Automated Construction Activity Monitoring System, Advanced Engineering Informatics. Balqis Omar, Tabarak Ballal, INTELLIGENT WIRELESS WEB SERVICES: CONTEXT-AWARE Computer science IN CONSTRUCTION-LOGISTICS SUPPLY CHAIN. Journal of Information Technology in Construction, ITcon Vol. 14 ( 2009 ) , pg. 289-pg. 308 Outline1 2 3 4 4. System execution Hemingway EssayUndertakings to Simple Routine, 5pp. Smith, H. and Konsynsky, B. ( 2003 ) . Developments in Practice Ten: Radio Frequency Identification ( RFID ) -An Internet for Physical Objects. Communication Association for Information System, 12, 301-311. Wessel, R. ( 2007 ) . DHL to Market RFID Enabling Smart Box. RFID Journal ( available at: htt: //www.rfidjournal/article/articlereview/2945/ ) Bacheldor, B. ( 2006 ) . Honda UK To Track Component Through The Supply Chain. RFID Journal ( available at: htt: //www.rfidjournal/article/articlereview/2703/ . Milan Radosavljevic, Dauda Dan-Asabe, HOW COULD CONSTRUCTION SUPPLY CHAIN BENEFIT FROM RFID/GPS INTEGRATION: A KNOWLEDGE MANAGEMENT PERSPECTIVE, CIB W102 3rd International Conference 2007. Information engineering ( IT ) is of import in successfully commanding and pull offing building undertakings, peculiarly in heightening communicating and coordination among participants. Communication and coordination must be maintained to back up resource and competence sharing within the web of a building concatenation or the building concatenation web. Furthermore, incorporating assuring information engineerings such as personal digital helpers ( PDA ) , radio frequence designation ( RFID ) scanning and informations entry mechanisms can assist better the effectivity and convenience of information flow in building supply concatenation systems. 1.1. Problem statements Project direction and control public presentation can be enhanced by enabling participants to portion information with each other. However, two major cardinal facets of information sharing are information acquisition and information communicating. Information acquisition jobs in a building undertaking follow from most of the informations and information being gathered from the building site, which is an extension of the building concatenation. The effectivity of information and information acquisition influences the information flow between the office and the building site. However, on-site applied scientists by and large use written paperss, drawings, contracts, specifications and store drawings for occupation sites. Consequently, a clip and infinite spread between the occupation site and the office causes duplicate of informations and information, deficiency of informations and information, and associated confusion. Restated, bing agencies of treating information and accumulating i nformations are non merely time-consuming and expensive, but besides compromise undertaking direction public presentation in information acquisition. Furthermore, building contractors usually depend on interactions via telephone or facsimile to pass on with providers, subcontractors and interior decorators. Consequently, minutess are often lost or misunderstood. Such agencies of pass oning information between sites and offices, and among all participants, are uneffective and inconvenient. 4. System execution This subdivision illustrates the execution and faculty of the RFID-enabled PDAs system. aˆ? Inventory direction faculty The Inventory direction faculty is an easy-access and portable environment in which on-site applied scientists can follow and enter all information on the position of stuffs in the warehouse or on the scheduled bringing list. This faculty enables on-site applied scientists to better stock list direction on building sites. aˆ? Quality and review faculty On-site applied scientists can download the most up-to-date quality trials from the Internet, and can come in trial consequences straight via PDA. Additionally, PDAs display the codification and/or checklist for each of import constituent and work. On-site applied scientists besides can plot unacceptable places on a drawing and take relevant points from the lists in the PDA. The faculty has the advantage that on-site applied scientists can enter/edit quality and review trial consequence on the building site and all trial records can be communicated between the PDA and the portal via real-time synchronism, extinguishing the demand to repeatedly come in the same information. aˆ? Progress proctor faculty This faculty is designed to assist directors and on-site applied scientists monitor the advancement of the cardinal constituents. Furthermore, directors, on-site applied scientists and undertaking related participants can portion the current advancement or bringing status of these critical plants and constituents. The agenda direction faculty provides an easy-access and portable environment in which on-site applied scientists can follow and enter all information on the position of constituents delivered to the warehouse or on scheduled for bringing. 5.1. Production stage 5.2. Trial and storage stage 5.3. Delivery stage 5.4. On-site and review stage 5.5. Inventory stage 5.6. Installation stage Lung-Chuang Wang a, Yu-Cheng Lin a, * , Pao H. Lin Dynamic nomadic RFID-based supply concatenation control and direction system in building. Advanced Engineering Information sciences 21 ( 2007 ) 377-390