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Essay on Ken Lay: The Organizational Behavior of Enron
Introduction
Enron Corporation is an energy business established in Houston, Texas. Earlier than its liquidation in late 2001, Enron recruited approximately 21,000 employees and was globally the foremost electricity, natural gas, and communications businesses, with declared yield of $101 billion in 2000. For six successive years, Fortune magazine labeled Enron "America’s Most Innovative Company". It grew most eminent at the end of 2001 when it was exposed that it was maintained commonly by an organized, institutionalized and well-planned accounting scam. Its European setup filed for bankruptcy on November 30, 2001, and it looked for Chapter 11 protection in the U.S. two days afterward, on December 2. The company still exists, managing a handful of important resources, and making arrangements for the sale or development of remaining establishment. Enron come out of impoverishment in November of 2004 following one of the largest and most convoluted cases in US account. It has been perceived as an emblem of corporate fraud and corruption, ever since.
Ken Lay
Kenneth Lee Lay was born on April 15, 1942 and is an American middle-aged businessman who is also the former CEO of Enron Corporation. Ken Lay was the CEO and chairman of Enron Corp. from 1986 until his resignation in January 2002 except for a few months in 2001 when he was appointed chairman and Jeffrey Skilling, CEO. Enron Corp. and Ken Lay have become synonymous with corporate disgrace.
Organizational Behavior and Culture of Enron Corp
The organizational behavior model implemented at Enron was that of Autocratic in which employees are oriented towards obedience and dependence on the boss. The worker needs that are met are subsistence and therefore performance is minimal.
The major reasons of Enron’s collapse were not external and cannot be tackled through exercising more control, implementing stronger rules or practicing heavier punishments....
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