Getting into Debt for a College Education - 1385 Words

An estimated 20 million Americans attend college each year, and 60% of those students borrow annually to pay for it (qtd. in asa.org, â€Å"Student Loan Debt Statistics†). Moreover, citizens continuing to pay off debt after schooling brings the overall number of student-loan-borrowers to about 40 million- with a collective 1 trillion dollars in debt (McCarthy, â€Å"10 Fun Facts About the Student Debt Crisis); a fourth of these borrowers owe over $28,000, a tenth owe over $54,000, 3.1% owe more than $100,000, â€Å"and 0.45 percent of borrowers, or 167,000 people, owe more than $200,000† (Haughwout, â€Å"Grading Student Loans†). While some view this predicament as the result of laziness or carelessness, the bulk of this substantial group are not at fault.†¦show more content†¦Economy?†). The trending under-purchase of vehicles and homes is stunting the economy, reducing household formation/construction jobs, hurting businesses, and consequently d ecreasing profit and the number of employees they can support. Current students cut back on the number of classes they take, extending the time needed to graduate, and often work 2-3 jobs to make ends meet- creating a demanding lifestyle; graduates soon enter low-wage jobs in their field, if they find one at all, causing some to miss payments, lowering their credit score. â€Å"As of early 2012, borrowers in their 30s have a delinquency rate (more than 90 days past due) of about 6%, while borrowers in their 40s have a delinquency rate double that, at about 12 percent. Borrowers in their 50s have a delinquency rate of 9.4% and those over 60 have a delinquency rate of 9.5%† (qtd. in asa.org, â€Å"Student Loan Debt Statistics†). With bad credit, it is unlikely to get an approved loan or mortgage from a bank, pass a credit check from a landlord, or look appealing to an employer. Student loans has created a devastating trap for individuals striving to better their lives; u npaid private loans are inherited in the borrowers next generation,Show MoreRelatedCollege Value Goes Deeper Than The Degree Essay1042 Words   |  5 PagesCollege’s Value In the essay â€Å"College Value Goes Deeper Than the Degree† author Eric Hoover claims a college education is important to one s well-being so they can get a job and be productive in other parts of life. Promoters of higher education have long emphasized how beneficial college’s value and its purpose. Many believe the notion that colleges teach students are life skills to apply anywhere, they also work hard to earn a degree and learn specific marketable skills which they can use toRead MorePursuing The American Dream Of Graduating College Essay1241 Words   |  5 Pages Education and school, these both word always has been the main priorities for all of us. Pursuing the American dream of graduating college can be the best feel ever but it can also cost a price. College tuition is increasing more and more every year due to the fact of the rising economy. With student want to be successful in life they will need an education to a degree, which will land you a decent job in life. The problem is when the cost of gaining that degree outweighs the financial advantageRead MoreSweat, Stress, And Tears Essay1539 Words   |  7 Pagesthey can get accepted into the best possible colleges. However, this was not the case in our parents’ generation. My parents never attended college, let alone got a high school diploma. At the age of seven, they were working and that was their normalcy, whereas, in today’s generation, the process of elementary, middle, and high school is what we are taught the minute we enter this world. Although some students may agree, while others disagree, college is a no brainer for some whereas it is not evenRead MoreThe Average Cost Of Tuition1684 Words   |  7 Pageshow new college graduates will pay their substantial student loans. While seventy percent of college students are forced to take out student loans there’s no question the majority of graduates will be paying for their education over a long period of their life. Student loan debt is also at an all time high in the United States, with a staggering $1.4 trillion dollars of debt solely for student loans. Current presidential candidates are campaigning to lower college tuition and student loan debt, whileRead MoreLife After High School Essay1615 Words   |  7 Pagesof a college degree and the increasingly competitive job market have both added to the stress of this decision. The decision to go to college is one of the most important choices of a student s life, and it can affect their careers and finances for the rest of their l ives. These days, the rising cost of college is making students have to decide between the large sum of debt associated with a college degree or joining the workforce with a lower salary. Despite this fact, getting a college degreeRead MoreGraduation Speech : High School918 Words   |  4 Pagesschool and accrue debt that will take years to pay off? People in general go to college to better themselves and accomplish what one wants out of life. What’s better way for a person to live life and experience it to the fullest than to do the dream job they want, or have a reserve of wealth that they can spend according to how they see fit? According to one’s parents or their teachers getting an education can indeed be the key to a higher quality of life, but obtaining a higher education is a facade maskedRead MoreThe Cost Of College Is Becoming Outrageous1325 Words   |  6 Pages The cost of college is becoming outrageous because they are rising tuition, trying to make their campus more appealing to the students that attend as well as incoming students, and government loans have astronomical interest rates. Students are having to come up with all of the money themselves. It is hurting the students after they graduate because they are in so much debt before they even start their career. Some students wonder if going to college is worth it or if finishing high school wouldRead MoreA College Student Debt Problem1595 Words   |  7 PagesGoing to college can be very expensive, there are many different kinds of loans that students can obtain to help them continue their education. Being able to expand their education so easily can come with a hefty price. Students come out of college with student debt up past their ears, and so many students have trouble paying those loans back because of the amount of loans and the number of payments that people have to make can rip their financial future apart. If more students had more options toRead MorePros And Cons Of Unnecessary Education1684 Words   |  7 PagesUnnecessary Education We are the generation who believe that a higher education is a must. Other places look towards us for the answers to all questions about education. But for what reasons? If we are honest with each other, the truth about a higher education breaks out, and soon all of us face it. You are sitting in a classroom full of four hundred students who are supposedly listening to their professor and trying to learn in class, when suddenly all you can think about is the debt that is buildingRead MoreStudent Loan Debt: Is it worth it?1364 Words   |  6 PagesStudent Loan Debt: Is it worth it?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Many high school students are beginning their senior year and have already started to stress about how they will pay for their higher education. Although many students will have scholarships and financial aid, a lot more will struggle to pay for schooling and will have to take out multiple student loans. Many people wonder if higher education is worth the debt the country and the students are in and it is, however, there are alternatives.

The Fair Risk Management Methodology - 783 Words

One of the most common frame works that is used by risk assessment professionals is the FAIR risk management methodology FAIR stands for Factor Analysis of Information Risk and was first introduced in 2005 by Jack Jones with the goal of being able to provide an answer to two common questions asked by management in relation to risk management which are â€Å"how much risk does the organization have† and â€Å"how much less risk will there be if we spend the money you propose on mitigation.† The fair risk management methodology is comprised of five steps that allow you to find risk. The first step of the FAIR is the Scenarios. The goal of this step is to identify the asset that is at risk. Once the asset that is at risk has been identified you then develop the possible threats that could impact the asset that is at risk know as a threat community. Once the asset at risk and its potential threat community has been identified you can then move on to step two of FAIR which i s calculating the fair factors. In this stage you will analyze and calculate the Threat Event Frequency, Threat Capability and Control Strength for each threat to the asset outlined in the threat community. This in turn will allow you to identify the vulnerability and the loss event frequency for each threat/vulnerability pair. Once you have identify the vulnerability and the loss event frequency for each threat/vulnerability pair you can move on to the third step of the FAIR risk management methodology. The thirdShow MoreRelatedPlan Accounting : Defined Benefit Pension Plan, Health And Welfare Benefit Plans1596 Words   |  7 Pages†¢ Elimination of employee benefit plans (EBP) to measure the fair value of fully-benefit responsive investment contracts and provide the related fair value disclosures. †¢ Requires disaggregation of plan investments measured at fair value by general type on either the face or the notes to the financial statements, e.g. self-directed brokerage accounts. †¢ Eliminates the requirements to disclosure net appreciation (depreciation) in fair value of investments by general type or investments of individualRead MoreCase 14 Nike: Cost of Capital Essay1143 Words   |  5 Pagesmanager with NorthPoint Group, a mutual-fund management firm. She managed the NorthPoint Large-Cap Fund, and in July of 2001, was looking at the possibility of taking a position in Nike for her fund. Nike stock had declined significantly over the previous year, and it appeared to be a sound value play. Nike had held an analysts’ meeting one week earlier to release the company’s fiscal results for 2001. Apparently Nike had an ulterior motive; the management wanted this opportunity not only to releaseRead MoreWhy Security Controls Is Important Than Which Controls You Put On A Compliance Checklist1624 Words   |  7 Pagesart and part science. By defining key controls based on cyber risks (translated into business risks), an organization can more easily right-size the its control set and adapt it to their needs. Information Security risk assessment processes that are near real-time, gated by a change control process, provide continuous feedback on the sufficiency of the controls within an organization. Cyber Risk: Any information technology risk attributable to a malicious external actor. 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Where to put controls and how to design them is more important than which controls you put on a checklist. Identifying and prioritizing key security controls, however, is part art and part science. Cyber Risk: Any informationRead MoreThe principle of historical cost is still used in accounting when there is a large measure of agreement that it is inappropriate. Discuss.1226 Words   |  5 Pagesseveral other valuation methods, due to word constraints I have focused primarily on Fair Value Accounting as an alternative to Historical Cost Accounting. Although Fair value accounting is a theoretically superior valuation methodology, there are several severe problems in its current application, due to lax regulations and ineffective methods of determining current values of non-current assets. These problems within Fair Value Accounting have ensured that most companies conservatively remain using HistoricalRead MoreThe Case Eeoc V. Kaplan1341 Words   |  6 Pagesevidence that was presented. The EEOC relied solely on the statistical data compiled by Kevin Murphy. The district court excluded Murphy’s evidence on the grounds that it was unreliable. The EEOC did not provide sufficient proof that Murphy’s methodology satisfied any of the factors that courts required to determine the reliability of the data. Even Murphy admitted that his sample was not a true representation of Kaplan’s entire application pool. Therefore, the statistical evidence provided wasRead MoreThe Impact Of Fair Value Accounting On Real Estate Companies1497 Words   |  6 PagesTHE INFLUENCE OF FAIR VALUE ACCOUNTING ON REAL ESTATE COMPANIES : BASED ON HONG KONG LISTED COMPANIES (PROPOSAL) BY ZHANG MUDI DEBBIE 12250511 ACCOUNTING CONCENTRATION GAO JIAYI CINDY 12250295 ACCOUNTING CONCENTRATION An Honours Degree Project Submitted to the School of Business in Partial Fulfillment of the Graduation Requirement for the Degree of Bachelor of Business Administration (Honours) Hong Kong Baptist University Hong Kong January 2016 Table of Content Read MoreNikes New Supply Chain Project1186 Words   |  5 Pagesforces exterior to the company and a value chain, unrepresentative of its marketplace and enormous growth, interior to the company. Both issues affected its bottom line negatively. One significant issue was simply a function of poor inventory management and demand forecasting, coupled with the ongoing and dramatic slump in Asian sales. Nike had anticipated a doubling of Asian revenues, but saw instead a decline (Karpinski 1). Nike also had recurring problems managing the flow of goods from manufacturersRead MoreInternational Accounting Standards Codification System1414 Words   |  6 PagesIn 2006, the FASB issued Statement No. 157, â€Å"Fair Value Measurements† (SFAS 157), and in 2007 issued Statement No. 159. The objective of SFAS 157 is to increase the consistency, comparability and transparency of fair value measurements used in financial reporting by establishing â€Å"a single authoritative definit ion of fair value, a framework for measuring fair value, and fair value financial statement disclosure requirements†(http://www.iasplus.com/en/binary/usa/0808fairvalueupdate.pdf). In 2011,

Customer Relationship In Project Managementâ€Myassignmenthelp.Com

Question: Discuss About The Customer Relationship In Project Management? Answer: Introduction High Services Inc. is an organization that is composed of over 100,000 employees in different countries. The company has started with the Customer Relationship Management (CRM) program and the Social CRM project is a part of the same. Natalie is the program sponsor of CRM, Ito, the Program Manager and Ben is the CIO and project sponsor for Social CRM. There will be a number of resources that will be working on the project along with Ben and George, the Marketing Manager. The document covers the Project Charter along with the Stakeholder Register, Stakeholder Management Strategy and the Scope Statement for the project. Problem Statement The customers that are associated with the organization are losing on the satisfaction level and trust in the company due to the non-fulfillment of their expectations. It is because of the reason that there are so many customers that are engaged with the organization that it is difficult to assess their needs, choices and preferences adequately. Business Need There are over 100,000 employees that are engaged with the organization. Likewise, there are millions of customers that are also involved with High Services Inc. It is necessary to understand the customer preferences and requirements so as to provide the desired services to the customers. Social CRM is a project that will enhance the customer relationship by analyzing customer needs and enhancing the customer management (Maryland 2017). Project Goals The Social CRM system shall be deployed in the organization with no defects in the final release. The best standards and quality practices shall be used in the project activities. The system shall allow the measurement of customer preferences and their needs. Monitor of the performance and benefits realization. Project Scope The project will include the design, development and deployment of the Social CRM system in the organization and will also perform the integration, maintenance and marketing of the same. The project team members will not cover the negotiations with the third-parties regarding the supplies and deliveries (Nita 2014). Deliverables Project Plan: A document covering the details of the project scope, budget, schedule, risks and project team. Design of Social CRM system: Design document comprising of UI screens and wireframes along with the design diagrams. Source Code: The code for the front end of the system. Implementation Plan: The document covering the details of implementation, performance measurement and change management. Closure Report: The report covering the activities that have taken place in the project along with the acceptance and sign offs. Milestones Schedule Name of the Milestone Due Date Project Plan 4th September 2017 Design of Social CRM system 31st October 2017 Source Code 15th January 2018 Implementation Plan 19th February 2018 Closure Report 5th March 2018 Assumptions and Constraints The team members working on the Social CRM project will be provided with the work environment and the tools necessary to execute the project related activities. The project will be required to be completed under the budget of $2,000,000. The total duration that shall be allotted to the project will be six months. High Level Project Budget The project will be required to be completed in an overall budget of $2,000,000. There will be an internal staffing cost of $300,000 involved in the project. Project Team Members Team Member Name Role Responsibilities Ben Project Sponsor Project funds and project requirements George Marketing Manager Marketing strategy and plan A Project Manager Project planning, allocation of responsibilities, project control and closure B Financial Officer Project budget C Business Analyst Project schedule and risk management D Data Analyst Analysis of the customer data and preferences E Senior Developer Development of the source code, integration of the system F Junior Developer Development of the source code, integration of the system G System Designer UI and wireframes design H Implementation Engineer Change management and system implementation Stakeholder Register There will be numerous stakeholders that will be involved in the project. Some of these stakeholders will be internal and some will be external in nature (Ackermann and Eden 2010). A stakeholder register has been prepared and illustrated below to provide complete information on the entities that will be associated with the project. Stakeholder Interest Influence Type of Stakeholder Role Contribution Natalie +1 8 Internal Stakeholder Program Sponsor Project Approvals Ito +1 7 Internal Stakeholder Program Manager Feedback and Suggestions for Improvements, Acceptance and Sign Offs Ben +1 9 Internal Stakeholder Project Sponsor and CIO Project Funds, Project Requirements and Specifications George +1 8 Internal Stakeholder Marketing Manager Marketing Strategy and Marketing Plan for the project A +1 6 Internal Stakeholder Project Manager Project Plan, Project Status Reports, Communication Plan and Closure Report Project Team 0 4 Internal Stakeholder Team members working on the Social CRM project Design Document, Source Code, Implementation Plan and Daily Progress Reports Customers -1 10 External Stakeholder The target audience for the system Feedback and Comments Vendors and Suppliers -1 3 External Stakeholder The entities that will be supplying necessary tools and equipment Tools and Equipment required for the project Stakeholder Management Strategy The power/interest matrix that has been shown above for the Social CRM project comprises of four different sections as Keep Satisfied, Manage Closely, Monitor and Keep Informed. The Customers and the suppliers and vendors are the entities that will have a huge significance in the project in terms of their valuable feedback and tools respectively. However, they will have a lesser interest in the project and have been placed in the Monitor section (Reed 2012). The resources that will be required to be kept satisfied in order to gain their approvals and acceptance will be Natalie, Program Sponsor and Ito, Program Manager. Ben and George will be required to be kept updated with the status and progress of the project and will have a relatively higher interest as well. A, Project Manager and the entire project team will be required to be carefully managed and made available with the adequate set of resources. The planning and execution of the project will be carried out by these resources (Gomes 2006). Communication Strategy Stakeholder Reporting Requirements Frequency of Reports Mode of Communication Natalie Report on the status and progress of the project Weekly Status Report The reports shall be uploaded on the SharePoint location for the project Ito Report on the status and progress of the project Weekly Status Report The reports shall be uploaded on the SharePoint location for the project Ben Report on the status and progress of the project, major set of conflicts and disputes in the projects and the risks involved Weekly Status Report, Weekly Conflict Report, Weekly Risk Management Report The reports shall be uploaded on the SharePoint location for the project George Data collected and analysis results Weekly Data Analysis Results Report The reports shall be uploaded on the SharePoint location for the project A Contribution by each member in the project, problem areas Daily Status Reports by the team members, Weekly Conflict Report The reports shall be uploaded on the SharePoint location for the project Project Team Details on the project schedule, budget and responsibilities Project Plan and Requirements Specification Document The reports shall be uploaded on the SharePoint location for the project Customers Final release of the system Final Release Social media platforms, company website Vendors and Suppliers Payment Receipts Payment Receipts To be shared via email Stakeholder Management There are a number of internal and external stakeholders that are associated with the Social CRM project. It is necessary to make sure that the stakeholders are managed correctly in order to satisfy all of their requirements and to gain maximum contribution from the same. There shall be an internal team meeting that shall be organized by the Project Manager on a daily basis with all the project team members. The internal conflicts and disputes shall be handled and resolved in these team meetings. The communication on the project decisions along with the discussion on the project activities shall also be carried out with the team members in this daily session (Missionier 2014). The Project Manager must also have a meeting with the other internal stakeholders such as Natalie, Ito, Ben and George on a weekly basis to inform about the project progress. Any of the major deviations shall also be discussed in the weekly session (Krane, Rolstads and Olsson 2012). There shall be marketing and advertising of the tool to be done on the social media platform. It will allow the customers to have information regarding the latest changes that will be applied (Eskerod, Huemann and Ringhofer 2015). The suppliers and vendors shall also be managed with the aid of a contractual agreements specifying all the terms and conditions. Scope Statement In-Scope The project team will carry out the planning and estimation activities regarding the project covering the estimation of the project budget, schedule, and risks. The design of the Social CRM system will be covered in the project including the UI and wireframes for the project. The source code will be developed for the project by the team members covering the functional and non-functional aspects of the system. The non-functional aspects will include the following system qualities: The Social CRM system that will be developed shall be scalable so that the system may be scaled up and down as per the latest set of requirements. The non-functional requirement of availability shall be included in the Social CRM system in order to make the system available for access at all times. The Social CRM system that will be developed shall be reliable so that the system may provide only the valid information and response in return of every user action (Encs 2017). The non-functional requirement of maintainability shall be included in the Social CRM system in order to make the system easy to maintain and install the updates. The Social CRM system that will be developed shall be usable so that the system may be in complete accordance with the specifications and requirements. The non-functional requirement of adaptability shall be included in the Social CRM system in order to make the system adaptable to every platform. The integration and implementation activities shall be covered by the team members (Cdss 2014). The control and closure activities shall also be covered by the project team during the life cycle of the project. The Social CRM system shall be marketed by the project team and a marketing plan and strategy shall be prepared. Out-of-Scope The project team will not carry out any of the negotiations with the third-parties such as the suppliers and the vendors. The project team will also not cover the re-work and the risks that will arise due to the delay by the suppliers or the uninformed changes by the senior management. Conclusion Social CRM project is one of the high-visibility projects that are critical for the entire stakeholders that are involved with the same. It is necessary to make sure that the goals of the project are achieved and the business objectives are also met. It can be done by making sure that the project progresses as per the estimated schedule and budget. There are many management methodologies that have been developed for the adequate and efficient management of the projects. One such methodology that shall be applied in the case of the Social CRM project is the Project Management Body of Knowledge. It is the methodology that is commonly abbreviated as PMBOK and it will provide the project with the guidelines and stages that shall be covered. There may be many risks that may emerge during the project timeline such as schedule risks, budget risks, technical risks and several others. These risks will also be handled as per the principles of the PMBOK methodology. The Project Manager will be provided with the steps to follow in case of a major deviation which will ensure project success. References Ackermann, Fran, and Colin Eden. 2010. "Strategic Management Of Stakeholders: Theory And Practice". https://www.hadjarian.com/esterategic/tarjomeh/2-90/khamesi.pdf. Cdss. 2014. "Appeals Case Management System: Project Scope Management Plan". https://www.cdss.ca.gov/acms/res/ScopeManagementPlanv1.0_Final_112014.pdf. Encs. 2017. "Total Quality Project Management". https://users.encs.concordia.ca/~andrea/inse6230-2014/Presentation2_Integ%20and%20Scope.pdf. Eskerod, Pernille, Martina Huemann, and Claudia Ringhofer. 2015. "Stakeholder Inclusiveness: Enriching Project Management With General Stakeholder Theory". Project Management Journal 46 (6): 42-53. doi:10.1002/pmj.21546. Gomes, Ricardo Correa. 2006. "Stakeholder Management In The Local Government Stakeholder Management In The Local Government Decision-Making Area: Evidences From A Decision-Making Area: Evidences From A Triangulation Study With The English Local Triangulation Study With The English Local Government Governmen". https://www.scielo.br/pdf/rac/v10nspe/v10nspea05.pdf. Krane, Hans Petter, Asbjrn Rolstads, and Nils O.E. Olsson. 2012. "A Case Study Of How Stakeholder Management Influenced Project Uncertainty Regarding Project Benefits". International Journal Of Information Technology Project Management 3 (2): 21-37. doi:10.4018/jitpm.2012040102. Maryland. 2017. "Phase 1: Initiation Phase". https://doit.maryland.gov/SDLC/Documents/SDLC%20Phase%2001%20Initiation%20Single%20Hardware.pdf. Missonier, Stephanie. 2014. "Stakeholder Analysis And Engagement In Projects: From Stakeholder Relational Perspective To Stakeholder Relational Ontology". International Journal Of Project Management 32 (7): 1108-1122. doi:10.1016/j.ijproman.2014.02.010. Nita. 2014. "IT Project Management Methodology". https://www.nita.go.ug/sites/default/files/publications/Projects%20Initiation%20Support%20Guide%20-%20Draft%200.3.pdf. Reed, Darryl. 2012. "Stakeholder Management Theory: A Critical Theory Perspective". https://dreed.info.yorku.ca/files/2012/05/Stakeholder-Mgmt-Critical-Theory.pdf.

Enron and Ethics free essay sample

Enron and Ethics Failure is the best teacher not only for those who fail, but also for those who observe the failure. Thus, for many businesses the Enron scandal proved to be the greatest teacher. Since the fall of Enron, there have been several theories and examinations about why it failed as it was a corporation that no one imagined would ever crash. Based on research to date there are multiple reasons for Enron’s failure; however, one that stands out immensely is corporate disregard for ethics. To understand why Enron’s scandal was such a shock, it is first important to note its background. Prior to its collapse, Enron was one of the biggest global energy and services company. It sold natural gas and electricity. Once deregulation of electricity took place, Enron became more innovative and instead just selling energy, it became an â€Å"energy matchmaker† bringing buyers and sellers together and profiting from their exchanges (Borden, 2003). We will write a custom essay sample on Enron and Ethics or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It was named the greatest company to work for by Fortune Magazine several years in a row and at one time was the seventh largest company in the United States (Borden, 2003). Unfortunately, Enron’s unethical behavior led Enron to set yet another record—the highest corporate bankruptcy ever at that time (Borden, 2003). Enron’s unethical behavior rooted from the lack of a strong organizational culture. It is important to have a strong organizational culture as it helps tie ethics, attitudes, and organizational philosophy together. Enron’s culture lacked emphasis on business ethics. Though it had a code of ethics in place for employees and executives alike, which outlined how business should be conducted, it was put on the back burner and was obviously overlooked by executive leaders, managers, and employees (Bartlett, 2002). Enron did not seem to value honesty, steady growth, and hard work. Rather, the corporation valued aggressiveness, risk-taking and creativity, all qualities that are respectable when balanced with social responsibility, integrity, and concern for a company’s employees, investors, and shareholders. Enron was more concerned about its financial status and balance sheets than about acting accountably. Enron’s executives should have embraced business ethics and instilled them into their corporate values. It is a duty of the executives to trickle down ethics through its organizational culture to every employee and it is the job of managers to monitor and enforce ethics (Yukl, 2006). However, it can easily been realized that no one fulfilled such duties at Enron. Executive and managers alike â€Å"looked the other way† to meet the standards and pressures created by the company. If management established an environment that restricted unethical behavior, employees would have been afraid to take questionable actions. Not developing a responsible organizational culture should have been an indicator that the corporation’s success would demise. The code of ethics was merely words on paper at Enron rather than the foundation of its culture. Like most things without a strong foundation, Enron too collapsed. Along with lack of concern for ethics, Enron’s executive leaders also became increasingly greedy, a volatile combination. They were unsatisfied even after their steady climb to success. At one point the CEO, Skilling, announced that he wanted Enron to be the largest company in the world (Bartlett, 2002). Such ambitions are typically admirable however, they also can be despicable when the chosen methods of achieving such ambitions mislead others. Accelerated growth required funding that would ruin the quality of the Enron’s balance sheet. To counter that problem, Enron began to create questionable financial reports. One method the company utilized was market-to-market accounting (M2M), a technique that allows a company’s futures profits from current outstanding contracts to be accounted for in the present year. This meant that Enron was able to record a profit in a single year that would typically be booked over a period of 10 to 20 years as the contracts reached conclusion (Stewart, 2006). M2M made Enron appear more profitable than it was and disillusioned its investors and stockholders. As result, when Enron failed, the individuals could not collect a return on their large investments. Employees who had their pensions tied to Enron’s stocks were stripped away of their life-savings in an instant. The executives were not the only ones responsible for the tragedy the Enron stockholder’s faced. They executive leaders certainly encourage unethical and deceptive behavior, but the accountants performed the tasks and the managers approved them without any questions. No thoughts were put into whether or not their actions were sound and ethical. Lastly, Enron promoted overlooking ethics in employees as it compensated its employees largely through bonuses and stock-options. The idea was to keep employees centered on their earnings (Stewart, 2006). Skillings believed that money was the only motivator for employees and it turned out that many employees indeed responded to his incentives and did whatever was needed to sustain their income. Although Enron’s compensation system in essence rewarded its highest performing employees, like many organizations, it was not suitable for Enron because it was combined with a culture that valued risk and high-volume spending. As result, employees took on high-risk deals and discarded the quality of profits and cash flow to earn higher performance bonuses (Stewart, 2006). High bonuses for employees meant even higher bonuses for managers, thus there was no intervention. Personal gains were more important than regard for integrity. As previously mentioned, Enron’s collapse was a great teacher for businesses.