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enron: the smartest guys in the room discussion questions

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Review of the documentary Enron: The Smartest Guys in the Room is a documentary that was produced in 2005 as a reflection of the 2003, bestselling book with the same name. imaginable degree, area of Advantages of Self-Paced Distance Learning, Texas Native American Tribes: History & Culture, The Ransom of Red Chief: Theme, Conflict & Climax, Preparing Records for Local & State Government Budgets, Chickamauga by Ambrose Bierce: Summary & Analysis, Quiz & Worksheet - Homer's Portrayal of the Gods in The Iliad, Quiz & Worksheet - Occurrence at Owl Creek Bridge Symbols, Quiz & Worksheet - The Masque of the Red Death Themes & Quotes, Flashcards - Real Estate Marketing Basics, Flashcards - Promotional Marketing in Real Estate, Major Events in World History Study Guide, Managing Business in a Global Environment, Effective Communication in the Workplace: Help and Review, TExES Life Science: Protists, Fungi & Viruses, Quiz & Worksheet - Othello Character Analysis, Quiz & Worksheet - Spelling Homonyms & Homophones, Quiz & Worksheet - Characteristics of the Hyksos People, Star-Crossed Lovers: Definition, Archetype & Role in Shakespeare. Enron Documentary Rated R: The Smartest Guys in the Room Discussion Questions Organizations or companies, which operate in the corporate realm, are bound and regulated by corporate ethics and values. Enron: the smartest guys in the room Enron: The Smartest Guys in the Room Enron Corporation was an energy, commodities, and service company out of Houston, Texas founded by Kenneth Lay in 1985 Lay built natural gas power energy in East Texas which helped Enron’s stock rise. The film was released in 2005 and covers the Enron scandal. Art Anderson, Ken Lay and all of the other executives did a number of unethical things which ultimately brought down Enron and affected thousands of employees and their futures. Of everyone, who do you think was most at fault for the Enron scandal? If not, what is the point of having this document? issues? 4. Who is Bill Lerach and what are shareholder lawsuits? K en Lay, Jeffrey Skilling, Andrew Fastow, and the rest of Enron’s upper management weasels are easy targets for condemnation, but rather than simply provide a damning critique of the company, Alex Gibney’s Enron: The Smartest Guys in the Room, allows the crooks—via congressional hearing footage, videos of in-house company speeches, phone conversations, and television … The primary value operating among the traders was greed, money, and how to make profits under any circumstance. market accounting” Why are these significant in the context of 6. What place does the pressure to succeed have in the Enron scandal? How did it start? In 2001, when Enron filed for bankruptcy, it was the seventh largest business in the country and had $63.4 billion in assets. The movie profiles its two leaders, CEO Ken Lay and President Jeff Skilling, who lied and cashed in while their 20,000 employees were robbed of their life savings. The violation of corporate ethics, studies reveal, is not only detrimental for the company, but also for the corporate system. NOT Enron employees, executives or directors. Have these been effective? Bill Lerach. Why? It’s a compelling (and sometimes soapy) indictment of the worst side of business, and it queasily foreshadows the financial crisis of 2008. 1. Who were some of the key enablers in facilitating Enron’s Same question as #1, except which who were the enablers who were NOT Enron employees, executives or directors. Imagine that you had stock in the Enron Corporation. At the end, Skilling went before Congress and claimed that the events were not actually as scandalous as they seemed, but that the problem was that the assets of Enron were tied up. 2. Privacy There are several people in the film who had positions of power within Enron but allowed the deception to continue. flashcard set{{course.flashcardSetCoun > 1 ? Enron: The Smartest Guys in the Room Enron was an energy company based out of Texas that was formed in 1985. How did Enron respond? What did she mean by that? demise? Were any ‘Enron: The Smartest Guys In The Room’ Frauds and financial scandals in the business world were before an Enron’s case and will be after it. Given Skilling's history, is this believable? 2. This could be Enron 2.0. Get the unbiased info you need to find the right school. But a chain of events lead to an enormous shock on the Wall Street and went down in … Sciences, Culinary Arts and Personal (the Enron employee)? Learn vocabulary, terms, and more with flashcards, games, and other study tools. Financial Literacy Activities for High School, Over 83,000 lessons in all major subjects, {{courseNav.course.mDynamicIntFields.lessonCount}}, Short vs. Long Term Interest Rates: Differences & Significance, What is Compound Interest? Do you think such behavior is common at other companies, or do you think this was a fairly isolated event? What is Mark to market accounting? How Does Tuition Reimbursement Work with Financial Aid? | {{course.flashcardSetCount}} 5. Name at least three first two years of college and save thousands off your degree. ... Enron: The smartest guys in the room [motion picture]. What are “off balance sheet” transactions? Although many of the decisions made by Enron executives were illegal, there were still financial decisions they made that were scandalous but technically legal. © 2003-2020 Chegg Inc. All rights reserved. As a 4 th year business student do you think the concept is sensible? Enron made their stock sky rocket through unethical means, and in reality this company kept losing money. Following Enron, what reforms were adopted to address the She previously taught high school in several states around the country. The entire story of how Enron Corporation, one of the world’s major energy giant, collapsed is beautifully portrayed in the 2005 documentary film called “The Smartest Guys in the Room” which is based on the best-selling 2003 book of the same name, written by Fortune reporters Bethany Mclean and Peter Elkind. Do you think there are still corporations like Enron today, where their finances are overblown? It seemed to have great success; however, after it began to crash in the early 2000s, it was discovered that many of the financial failings of Enron had been hidden by the company. Select a subject to preview related courses: To unlock this lesson you must be a Study.com Member. The emphasis is on human drama, from suicide to 20,000 people sacked: the personalities of Ken Lay (with Falwellesque rectitude), Jeff Skilling (he of big ideas), Lou Pai (gone with $250 M), and Andy Fastow (the dark prince) dominate. That’ll help you to understand even the minutes of the Enron Case Study. ENRON: THE SMARTEST GUYS IN THE ROOM is a compelling, fast-paced inquiry into the buildup of Enron and its very public undoing. © copyright 2003-2020 Study.com. Enron began in Texas as a natural gas company. People who lost even hundreds of thousands of dollars should have assumed that risk when they invested.''. Thousands of people lost money, workers in the company lost jobs, executives were sentenced to prison and other's defamed their names and there was even suicide. study Create an account to start this course today. All rights reserved. Enron? There was a vast number of ethical issues raised in the movie “Enron-the Smartest Guys in the Room” but the four I am going to focus on are listed below. - Definition, Formula & Examples, What is National Debt? What ethical issues does the film raise? The movie entitled “ENRON: Smartest Guys in The Room is based on a book with the same title written by Bethany Mclean and Peter Elkind. The financial press, however, began to ask questions about Enron’s finances. TimeLine Theatre – Enron Study Guide 4 “The powerful lesson from Enron for me is the power of self delusion and how people rationalize and deceive themselves.” —Bethany McLean, Fortune Magazine reporter and author of The Smartest Guys in the Room, quoted in the documentary film The Smartest Guys in the Room Create your account, Already registered? What is “mark to Get access risk-free for 30 days, The film, Enron: The Smartest Guys in the Room looks at the creation, duration, and downfall of the corporation. Study.com has thousands of articles about every credit-by-exam regardless of age or education level. monies ultimately recovered arising out of any of these lawsuits Google it or do some additional research, but what happened to: Enron: The Smartest Guys in the Room Discussion Questions Lay and Skilling 1. Phase 3 - Philosophy Deliverable Length: 4-5 paragraphs Unfortunately, over the last several years, there have been many examples of illegal and unethical business dealings; some involved practicing unethical accounting processes, as well as situations that involved public figures from various genres caught performing various questionable activities. Is money the root of all evil? After watching the movie, do you agree that Jeff Skilling and Ken Lay were the “smartest guys in the room” or would it depend on the room? The film shows the reach of destruction from the Enron scandal. View desktop site, “Smartest Guys in the Room: Discussion Questions”. for any of the shareholders? and career path that can help you find the school that's right for you. Agree or disagree with the following statement and justify your answer: ''When investing in the stock market, there is an assumed risk. courses that prepare you to earn To learn more, visit our Earning Credit Page. One of the people interviewed in the movie states that there existed a “high school mythology” at Enron. 1) Explain the basic economic mechanisms that caused the fall of Enron. Skilling emphasized in his testimony before Congress that he was only acting in the interests of the shareholders. just create an account. Enron Case Review: The Smartest Guys In The Room 975 Words | 4 Pages. Who do you consider the most immoral person in the film? How would you feel if your finances or hopes for retirement were tied up in this? credit by exam that is accepted by over 1,500 colleges and universities. Answer the following questions as you are watching the film. How did it In addition to the preceding issues and illustrations of the principles of financial management demonstrated in the film The Smartest Guys in the Room , the information presented by the Enron case can be used as a basis for classroom discussion of ethical The movie is about a crime story and the bankruptcy of ENRON, one of the most successful and even considered as the 7th largest corporation in America, due to the fraudulent acts by the top management. Personally I think that Jeff Skilling and Ken Lay were the smartest guys in the room, because they had some great ideas like inflating the price of stocks and manipulating their income by using potential profits was very smart and the best part about it is that it worked, it actually did increase the revenues of Enron • Skilling emphasized in his testimony before Congress that he was only acting in the interests of the … How is it possible that a company this large was such a scandal? That’s in human nature. Enron: The Smartest Guys in the Room is a 2005 American documentary film based on the best-selling 2003 book of the same name by Fortune reporters Bethany McLean and Peter Elkind, a study of one of the largest business scandals in American history. Why do you think it was able to grow as large as it did? United States: Magnolia Pictures. Anyone can earn Enron : The Smartest Guys in the Room. a) Ken Lay; b) Jeff Skilling; c) Lou Pai; d) Sheri Watkins; and e) These discussion questions are geared towards high school and post-secondary students. Prior to watching the movie "The Smartest Guys in the Room" and learning in class in depth about the Enron scandal and the counterparts that had hands in it I didn 't know much about it nor the effects it had on the way companies are regulated today. "Enron: The Smartest Guys in the Room" directed by Alex Gibney takes a moment to explain in vivid detail about the rise and the fall of that giant of giants, Enron. We invite you to respond to the questions below or add your comments. 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