Case Study On Briefs Of Enron
It has been witnessed that Enron developed from old-fashioned gas pipeline company to equipped and aggressive marketing as well as trading company. Appreciably, stakeholder’s great trust in the operations of the company was noteworthy; however, reports of corruption had shaken the worth of Eron and destroyed its brand image to a notorious level.
Strategic management of Enron for trust building
It has been believed that strategic management of trust building relies on over the foundation of organizational accountability.Furthermore, main comprising factors include strategic leadership, corporate governance, enhanced financial and strategic trust building management model to execute plans in the organization at all levels.
Major factors responsible for the fall of Eron
There were many contributing factors that impacted the worth of Eron. First of all, financial transparency was a big question mark on the trust level of Eron. Secondly, lack of the audit committee in the organizational set up urged stakeholders to stop operations with Eron. Thirdly, arrogant attitude and behavior of the Eron i.e. Keeping secrets about major financial information continued to source downfall in the system due to lack of trust of stakeholders that was shaken badly.
Possible implications of Eron for future strategy.
It has been noticed that Eron faced a major downfall among its stakeholders, government offices, and associated business icons. The fragility of trust and lack of efforts in building such trust proved to be critical in its determination. However, their sincere efforts and implications that could develop level of trust to an identified level. First of all, Enron’s managers must be trained in respect of the provision of superb trustworthy services to the stakeholders. Secondly, track record of the company must be improved along with the development and implementation of the trust framework in the organization. Thirdly, revolution in the development of the generic framework can enhance the trust level of the company and managers. Finally, trust must be cultivated as a key source of competitive advantage in the company.
Impact of Eron’s fall on stakeholders
As soon as organizational trust lost, stakeholders stopped their major projects and tasks with the Eron and company’s trade, and major operations were either stopped or disturbed badly.
Raising moral of strategic managers.
Organizations that tend to perform have a level of morale and spirit. As far as level of trust is concerned, centrality and fragility of trust can be overcome by building relations with stakeholders. Similarly, by improving track record of the company, social influences, competence and other related constituents, trust can be rebuilt among stakeholders. Moreover, this will enhance company’s growth and elevate trust level of managers. Likewise, managers must realize that its only trust that is a critical element of success in corporate leadership and management. In addition to this, managers have to think systematically and strategically to induce, enhance and sustain the level of trust inside and out of the organization.Finally, if properly developed; this trust can do the magical things in growing confidence and morale of the managers within no time.
It has been believed that Eron faced a major downfall in its repute due to lack of certain issues in the organizational setup. Since its development from old-style company to a big trading company, it faced rise and fall. One of the major reason for its fall was fragility of organization trust that lost its stakeholders, employees and social influences. Additionally, the organization failed to build, maintain the corporate trust. However, sincere efforts of reinstate trust were made at large scale and senior managers were expected to deliver and apply generic framework of trust at their best. Similarly, genuine and determined efforts were made to restore the level of trust among customers, investors, agencies, auditors and financial analysts. In conclusion, it was believed that trust is a critical factor in the determination of corporate leadership and goals in the organizations.
Please remember that this paper is open-access and other students can use it too.
If you need an original paper created exclusively for you, hire one of our brilliant writers!
- Paper Writer
- Write My Paper For Me
- Paper Writing Help
- Buy A Research Paper
- Cheap Research Papers For Sale
- Pay For A Research Paper
- College Essay Writing Services
- College Essays For Sale
- Write My College Essay
- Pay For An Essay
- Research Paper Editor
- Do My Homework For Me
- Buy College Essays
- Do My Essay For Me
- Write My Essay For Me
- Cheap Essay Writer
- Argumentative Essay Writer
- Buy An Essay
- Essay Writing Help
- College Essay Writing Help
- Custom Essay Writing
- Case Study Writing Services
- Case Study Writing Help
- Essay Writing Service