Dear Enron,
It was October of 2001 when your scandal was revealed. I was in my sixth grade then. I remembered Papa watching you on our television set. Hello! Mind you, I didn’t take you up seriously then.
2006, I encountered you again. Yes, on the pages of one of my accounting books. You were actually a star. I gave you more attention now than then. You were part of my exam after all.
Years passed and overtime I learned how to manage hearing your name without reciting the issues that led to your demise. But with a sudden twist of fate, here we are again. How are you? How are they?
Your story is a page turner. Big shot energy firm with high market value per share plummeting down the drain, executives living lavish lifestyle then held captive for corruption, greed, fraudulent transactions, window dressing, obsession with money, conflict of interest, poor governance, depreciating sense of corporate culture, manipulation of accounting records and books, and insider trading. Bam! It all boiled down to loyal employees losing their jobs, investments, and retirement benefits. It has all the elements to win a Nobel.
Looking at you after 14 years while I am in graduate school proves that you are the best example of an ethics lesson. Thanks to your story, I was able to learn that:
People are people. We are made of different beliefs, goals, and interests. Most of the time, we have conflicting views and in business these conflicting views can be detrimental not only on the company but for each of its employees. We do not serve only ourselves but others as well.
Corporate culture starts from up then goes down. Upper management has the responsibilities and obligations to establish a culture that is based on good ethics and governance. What it sets as an example will cascade down to its employees. We don’t want blind people navigating our spaceship towards a meteorite. Be good, be always good!
Profits are just mere figures. People are the real value. I know that I cannot compete with traditional idea that business is for profit. However, I don’t want to be boxed inside its four corners without having to say my piece. There is no need for convincing. I do not need to convince you, my dear, that what you have done for profit with your people at stake was wrong. No. There is no need. Because you are completely wrong from the very beginning.
Businesses and business persons nowadays do not need to wait 14 years to hear and learn from your story. Everything is just a matter of mindset and ethical behaviour. But the sad part is not everyone are like that. I know, somewhere out there, there are firms that are like you. And so, I am knocking on each door for them to hear me.
Above all, everyone can be a change agent for the good.
Regards,
Anne
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