This scandal was so huge that its effects reached other companies cross the globe as well. Upon watching the movie, I realized that there is a lot more to the story – the important parts that we should all know of. The collapse of one of the biggest American corporations left us with lessons that we can and should apply, not just in the business industry, but in our everyday lives. Believe that the main reason why this scandal happened was because of greed.
In the midst of everything, people who took part in it lost their sense of morality. They were blinded by money, by selfishness and greed. I agree with the film relating it to The Amalgam Experiment which concluded that “Once o accepted the idea that behaving inhumanely was okay, you could do anything. ” I believe that every human being is naturally good. Giving them the benefit of the doubt, for me, the proponents of this scandal, Lay, Killing, Fast and others, did not intentionally plan to do what they did.
Maybe, at the beginning of everything, they thought that what they are doing is for the greatest good of their shareholders, which should be the main goal of corporations. Their decisions brought about highly favorable financial results to both Enron, itself, as well as to their shareholders. Naturally, men would want more. And so they did everything they could to continuously gain profit in the industry. After a bad move, they told themselves that what they did was all right, because it is for the benefit of their shareholders.
And so it began, one bad decision after another, until they were able to justify to themselves that they are not doing anything wrong. It turned out that at the end of the day, they were the only ones who benefited in every bad decision that they made, leaving everyone else, shareholders, employees, etc. , penniless. What is morally right and wrong actually depends on what the person believes in. For example, hedonists believe that what is morally right is the one that brings the greatest pleasure in life.
Applying it to the Enron scandal, the pleasure that we are referring to is money, an instrumental good. In that case, to be morally good, people should do what is required for them to have money, which is what the proponents did. Another example of another ethical belief/view is utilitarianism. Under this belief, what is morally right is the action that produces the most good. The Enron scandal, under utilitarianism, is morally evil because what happened only benefited a few, and burdened the most people involved.
From my ethical point of view, the Enron scandal is morally evil because the people involved did whatever they have done to gain power and wealth, even at the expense of others. This is not how the business industry should work. As much as possible, we should be fair and transparent because there are always a lot of people who are involved. Business decisions should be made with regards to their effects to the company’s stakeholders. A business will fail without the help of others, may they employees, customers, financial institutions, etc. I think it is just right to think of those people, too, when deciding for our businesses.