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Enron And The Natural Gas Industry - 1542 Words

Enron Background: Enron, based in Houston, Texas, was founded by Kenneth Lay as an energy and pipeline company in 1985 from the merger of two natural gas pipeline companies, Houston Natural Gas and InterNorth. The impetus for Lay to start Enron was the deregulation of the natural gas market in the mid 1980’s, which relaxed the rules on natural gas prices and allowed for more flexible agreements between natural gas producers and pipeline managers. These changes essentially eliminated the practice of using long-term contracts between producers and suppliers in the industry and allowed for prices to fluctuate more freely. The price setting model that resulted is known as â€Å"spot pricing†. This was a big advantage for Enron, which at the time owned the largest network of interstate pipeline in the US. The natural gas industry, due to the same deregulation that motivated Kenneth Lay to found Enron, was operated in a peculiar way. Natural gas suppliers relied on pipeline o perators to transport their supply to natural gas buyers and these three entities all operated independently from one another. The elimination of long-term contracts in the industry created a system in which suppliers could interrupt the delivery of natural gas to buyers without penalty, depending on and in order to manipulate natural gas prices. Enron saw an opportunity in this system that they intended to exploit. By creating a â€Å"gas bank† from suppliers, Enron was able to offer utility companies long-termShow MoreRelatedEnron And The Natural Gas Industry2792 Words   |  12 Pagesfounded Enron in July of 1985. (http://news.bbc.co.uk/hi/english/static/in_depth/business/2002/enron/timeline/1.stm) Enron started out as a pipeline company. Through strategic mergers and acquisitions, they controlled a large share of the infrastructure that moved natural gas from one place to another. Ken Lay started Enron because he felt there was great opportunity to make money in the natural gas industry. He believed that deregulation of the natural gas industry was inevitableRead MoreEnron s Impact On The Natural Gas Industry2699 Words   |  11 PagesIntroduction: Enron was founded in 1985 as a result of a merger between Houston Natural Gas and InnerNorth of Omaha. During this time period there was a series of deregulations in the utilities industry which was highly regulated at the time. Enron original business was selling natural gas. Jeff Skilling developed the idea of a â€Å"gas bank† which was the middlemen for consumers and suppliers. Enron decided that if they were to increase their growth they needed to enter other markets due to theRead MoreNorthern Natural Gas Company Management1225 Words   |  5 Pages Enron Corporation was once known as Northern Natural Gas Company, Founded in 1932 in Omaha, Nebraska as a provider of natural gas. Through its early stages, Northern Natural Gas Company was unsuccessful in their business venture. They experienced problems in persuading consumers to use natural gas to heat their homes because of fear that natural gas leaks lead to explosions. Thanks to the great depression, many people were taking the risk because of how relatively cheap natural gas was. As theRead MoreQuestions On Duty And Ethics1283 Words   |  6 PagesTRIDENT UNIVERSITY Selwyn G. Roberts Module 4 (Enron/Duty Ethics) Ethics 501 Dr. Gary B. Shelton January 28, 2016 DUTY ETHICS Duty-based ethics is a challenging concept to grasp because of the culture we currently live in. Contemplating consequences, whether good or bad is the golden rule when trying to determine the actions one should take. Our legal system is filled with do’s and don’ts which can have a direct affect on a person life. When dealing with external pressures e.g. home, work or peerRead MoreExecutive Office Of Houston Natural Gas1689 Words   |  7 Pages Enron was created in 1985 when Houston Natural Gas and InterNorth merged together. Houston Natural Gas was a utility company based in Houston, Texas before being taken over by InterNorth. InterNorth was a very large energy company based out of Omaha, Nebraska. They specialized in natural gas pipelines, but also were successful in the plastic industry, coal and petroleum exploration and production. In the beginning Kenneth Lay, who was the Chief Executive Office of Houston Natural Gas, becameRead MoreEnron And Its Innovative Growth1409 Words   |  6 PagesAuditing 301 January 7, 2017 Enron Scandal †¢ The rise of Enron and its innovative growth: After a merger in 1985, between two relatively small regional companies Houston Natural Gas Co., and InterNorth Incorporated, Enron Corp was formed. Enron Corporation became one of the biggest energy, and service company across the united states. Following this merger, Kenneth lay, who was at the time the CEO of Houston Natural Gas, also became the CEO of the newly formed Enron Corp. With his savvy skills alreadyRead MoreEnrons Accounting Fraud1304 Words   |  6 PagesINTRODUCTION: Northern Natural Gas Company (the ancestor of ENRON) was established in 1930. In 1979, Inter North Inc. bought Northern Natural Gas Company and placed it  under a new management. In the 1980s, the  United States Congress passed legislation deregulating the sale of  natural gas.  At the beginning of the 1990s, Congress passed a similar legislation targeted at the sales of electricity. These steps launched a new era in the energy market, allowing companies like ENRON to prosper. In 1985, KennethRead MoreCorporate Fraud975 Words   |  4 PagesCorporate FraudÂ…when you hear those words the first, most recent incident, many think of is The Enron Scandal. This same scandal produced the Public Company Accounting Reform and Investor Protection Act of 2002. This much needed act created the Public Company Accounting Oversight Board under the Security Exchange Commission s supervision. This board sets accounting standards and investigates Certified Public Accountants and compani es to ensure they are following the guidelines set forth. ThisRead More The Enron Scandal Essay803 Words   |  4 PagesThe Enron Scandal   Ã‚  Ã‚  Ã‚  Ã‚  Enron was established in 1930 as Northern Natural Gas Company and joined with three other companies to undertake this industry. The four companies eventually began to break apart between 1941 and 1947 as a result of a public stock offering. In 1979, Northern Natural Gas was placed under new management when it was bought by InterNorth Inc. In 1985, Kenneth Lay, CEO of Houston Natural Gas Company devised a transaction for InterNorth to purchase Houston Natural Gas. Lay wasRead MoreEnron : A Look At Ethics994 Words   |  4 PagesEnron: A Look at Ethics Enron is known worldwide for being responsible for one of the largest corporate scandals in U.S History (History.com Staff). This once well-respected corporation rose as high as number seven on Fortune magazine’s list of the top 500 U.S. companies and employed over 21,000 people (History.com Staff). However, after failed attempts of hiding their large-scale corporate fraud, corruption, and scandalous activites, the corporation was forced to file for bankruptcy which ultimately

Hitler Facts Essay free essay sample

Unemployment in Germany rose to 6 million. The government did not know what to do. In July 1930 Chancellor Bruning cut government expenditure, wages and unemployment pay the worst thing to do during a depression. He could not get the Reichstag to agree to his actions, so President Hindenburg used Article 48 to pass the measures by decree. * The Nazis gain support Anger and bitterness helped the Nazis to gain more support. Many workers turned to communism, but this frightened wealthy businessmen, so they financed Hitlers campaigns. Many middle-class people, alarmed by the obvious failure of democracy, decided that the country needed a strong government. Nationalists and racists blamed the Treaty of Versailles and reparations. * By July 1932, the Nazis held 230 seats In 1928, the Nazis had only 12 seats in the Reichstag; by July 1932 they had 230 seats and were the largest party. The government was in chaos. President Hindenburg dismissed Bruning in 1932. His replacement Papen lasted six months, and the next chancellor Schleicher only lasted two months. We will write a custom essay sample on Hitler Facts Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Hindenburg had to use Article 48 to pass almost every law. * Hitler handed power on a plate In January 1933, Hindenburg and Papen came up with a plan to get the Nazis on their side by offering to make Hitler vice chancellor. He refused and demanded to be made chancellor. They agreed, thinking they could control him. In January 1933, Hitler became chancellor, and immediately set about making himself absolute ruler of Germany using Article 48. Reasons why Hitler rose to power 1. Hitler was a great speaker, with the power to make people support him. 2. The moderate political parties would not work together, although together they had more support than the Nazis. 3. The depression of 1929 created poverty and unemployment, which made people angry with the Weimar government. People lost confidence in the democratic system and turned towards the extremist political parties such as the Communists and Nazis during the depression. 4. The Nazi storm troopers attacked Hitlers opponents. . Goebbels propaganda campaign was very effective and it won support for the Nazis. The Nazis targeted specific groups of society with different slogans and policies to win their support. 6. Hitler was given power in a seedy political deal by Hindenburg and Papen who foolishly thought they could control him. 7. German people were still angry about the Treaty of Versailles and supported Hitler because he promised to overturn it. 8. Industrialists gave Hitler money and support.

Mis †Walmart Essay Example

Mis – Walmart Essay Introduction A Management information system ( MIS ) is a system or procedure that provides information needed to pull off organisations efficaciously. Management information system gives the concern directors the information that they need to do determinations. Early concern computing machines were used for simple operations such as tracking stock list. charge. gross revenues. or paysheet informations. with small item or construction but now yearss it has been replaced by the advanced techniques like ERP. EPM. SCM and SAP. Management information systems are distinguishable from regular information systems in that they are used to analyse other information systems applied in operational activities in the organisation. We will write a custom essay sample on Mis – Walmart specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mis – Walmart specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mis – Walmart specifically for you FOR ONLY $16.38 $13.9/page Hire Writer History OF WALLMART Sam Walton who is a man of affairs from ARKANASAS. get down his bearer with retail industry and started working on June 3. 1940. On July 2 1962 he opened first walmart price reduction metropolis shop located in ARKANASAS. Walmart is one of the most technically advanced companies in the universe and ground behind this is handiness of accurate and up to day of the month information which intern a footing of its growing in the market. And for roll uping the accurate information on clip it is necessary that direction should continuously reexamine the information. which is possible merely by an integrated direction system. Walmart became one of the first companies in retail sector to utilize MIS. MIS IN DIFFERENT FUNCTIONS OF THE ORGANISATION: 1. Operations: In the universe of retailing. Wal-Mart has what is considered to be the most sophisticated distribution system called Retail Link. This system connects each shop with central offices and over 2. 000 providers so that they will neer run out of or hold excessively much stock list. Wal-Mart bends over their stock list more than any other retail shop. The current challenge exists with providing their abroad shops. particularly while this is the country that they are concentrating on turning. In order to go more efficient abroad. Wal-Mart has started is on Customss Brokering division to take attention of its planetary procurance. which saves them brokering and freight forwarding fees. and besides gives them more control. They have besides started to request strongly that their providers besides be physically located in the states where Wal-Mart is to better provide them. Procurement of stuff Walmart is a majority buyer and they follow centralised purchased system. so the company straight procure the stuffs from makers therefore extinguishing all the mediators and jobbers. This is indispensable to cut down the cost and offer best pricing. They foremost find out the possible provider and so after acquiring monetary values from everyone the will make up ones mind eventually harmonizing to the cost construction of the offer. For expeditiously pull offing this information wall marketplace uses EDI theoretical account ( electronic informations interchange ) it is fundamentally a computing machine based system of walmart in this system the computing machines of providers and sellers are connected with walmart. EDI enables supplier to download purchase order along with shop to hive away gross revenues information related to their merchandise like no of merchandise sold. no. of merchandise received. As provider receives the information about gross revenues of assorted merchandise s. the provider shipped the needed goods to different walmart distribution Centres. Basically it is a high velocity integrating system between provider and walmart and which is really helpful in doing the procedure fast and efficient. Transportation system A company owned transit system besides assists Wal-Martin transporting goods from warehouse to hive away in less than 48 hours. This allows Wal-Mart to refill the shelves 4 times faster than its competition. Wal-Mart owns the largest and most sophisticated computing machine system in the private sector. It uses a MPP ( massively parallel processor ) computing machine system to track stock and motion which keeps it abreast of fast alterations in the market. Information related to gross revenues and stock list is disseminated visits advanced satellite communications system. MPP is fundamentally used to track the motion of goods and stock degree and information for this is transmitted through advanced orbiter communicating system. So when the information about motion of goods is transmitted it automatically bring forth the information and base on balls it on to transit section and from there the logistic installation is ensured. Inventory direction Wal-Mart invested to a great extent in IT A ; communicating system to efficaciously track gross revenues and ware stock lists in shops across all the mercantile establishments in the state. For this company needs to hold first-class communicating system. And Walmart is utilizing the technique of PRETTY DARN QUICK DISPLAY ( PDQ ) TECHNIQUE. In this technique the company asked its providers to transport goods inshore-ready shows called reasonably darn quick ( PDQ ) shows. Goods were packed in PDQ shows that arrived at the shops ready to be boarded on the racks. WalMart’s employees could straight replace the empty racks at the shops with to the full packed racks. alternatively of replenishing each and every point at the racks. HUB AND SPOK SYSTEM – in the early1970s. Wal-Mart became one of the first retailing companies in the universe to centralise its distribution system. open uping the retail hub-andspoke system. Under the system. goods were centrally ordered. assembled at a monolithic warehouse. known as distribution centre · ( hub ) . from where they were dispatched to the person shops ( radius ) . The hub and radius system enabled Wal-Mart to accomplish important cost advantages by the centralised buying of goods in immense measures. And besides the used of RFID engineering ( radio frequence designation ) this technique is used to replace the saloon cryptography technique and increase the efficiency of employees because with this employees are no longer requires to physically scan the saloon codification therefore it better efficiency and cut down the stock outs. Reordering Wal-Mart built an automated reordering system associating computing machines between Procter A ; Gamble ( P A ; G ) and its shops and distribution Centres. The computing machine system sends a signal from a shop to P A ; G placing an point low in stock. It so sends a resupply order. via orbiter. to the nearest P A ; G mill. which so ships the point to a Wal-Mart distribution Centre or straight to the shop. This interaction between Wal-Mart and P A ; G is a win-win proposition because with better coordination. P A ; G can take down its costs and go through some of the nest eggs on to Wal-Mart. Thus walmart is expeditiously utilizing the MIS to accomplish efficiency and cost minimisation. 2. Selling FUNCTION ( MIS ) Selling activities are directed toward be aftering. advancing. and selling goods and services to fulfill the demands of clients and the aims of the organisation. Marketing information systems support determination doing sing the selling mix. These include: 1. 2. 3. 4. Product Price Place Promotion Beginnings of Data and Information for Selling: Boundary-Spanning and Transaction Processing Subsystems A selling information system relies on external information to a far greater grade than other organisational information systems. It includes two subsystems designed for boundary crossing – conveying into the house informations and information about the market place. The aim of marketing research is to roll up informations on the existent clients and the possible clients. known as chances. The designation of the demands of the client is a cardinal starting point for entire quality direction ( TQM ) . Electronic commercialism on the WEB makes it easy to roll up statistics on existent purchaser behavior. Marketing research package supports statistical analysis of informations. It enables the house to correlate purchaser behavior with really elaborate geographic variables. demographic variables. and psychographic variables. Marketing ( competitory ) intelligence is responsible for the assemblage and reading of informations sing the firm’s rivals. and for the airing of the competitory information to the appropriate users. Most of the rival information comes from corporate one-year studies. media-tracking services. and from studies purchased from external suppliers. including online database services. The Internet has become a major beginning of competitory intelligence. Marketing Mix Subsystems The selling mix subsystems support determination doing sing merchandise debut. pricing. publicity ( advertisement and personal merchandising ) . and distribution. These determinations are integrated into the gross revenues prognosis and selling programs against which the ongoing gross revenues consequences are compared. Merchandise Subsystem The merchandise subsystem helps to be after the debut of new merchandises. Continually conveying new merchandises to market is critical in today’s competitory environment of rapid alteration. Although determinations sing the debut of new merchandises are unstructured. information systems support this procedure in several ways: ? ? ? ? ? Professional support systems assist interior decorators in their cognition work DSSs are used to measure proposed new merchandises With a DSS. a selling director can hit the desirableness of a new merchandise. Electronic meeting systems help convey the expertness of people dispersed in infinite and clip to bear on the job Information derived from marketing intelligence and research is critical in measuring new merchandise thoughts. Topographic point Subsystem The topographic point subsystem assists the determination shapers in doing the merchandise available to the client at the right topographic point at the right clip. The topographic point subsystem helps be after the distribution channels for the merchandise and track their public presentation. The usage of information engineering has dramatically increased the handiness of information on merchandise motion in the distribution channel. Promotion Subsystem The publicity subsystem is frequently the most luxuriant in the selling information system. since it supports both personal merchandising and advertisement. Media choice bundles assist in choosing a mix of avenues to carry the possible buyer. including direct mail. telecasting. print media. and the electronic media such as the Internet and the WEB in peculiar. The effectivity of the selected media mix is monitored and its composing is continually adjusted. Database selling relies on the accretion and usage of extended databases to section potency clients and make squad with individualized promotional information. The function of telemarketing. selling over the telephone. has increased. Telemarketing calls are good supported by information engineering. Gross saless direction is exhaustively supported with information engineering. Customer profitableness analysis helps place high-profit and high-growth clients and aim selling attempts in order to retain and develop these histories. Gross saless force mechanization involves fiting sales representative with portable computing machines tied into the corporate information systems. This gives the sales representative instantaneous entree to information and frees them from the coverage paperwork. This increases selling clip and the degree of public presentation. Access to corporate databases is sometimes accompanied by entree to corporate expertness ; either by being able to reach the experts or by utilizing adept systems that help stipulate the merchandise meeting client demands. Monetary value Subsystem Pricing determinations find a grade of support from DSSs and entree to databases that contain industry monetary values. These extremely unstructured determinations are made in chase of the companies pricing aims. General schemes range from net income maximization to waiving a portion of the net income in order to increase a market portion. Information systems provide an chance to finely section client groups. and bear down different monetary values depending on the combination of merchandises and services provided. every bit good as the fortunes of the sale dealing. Gross saless Forecasting Based on the planned selling mix and outstanding orders. gross revenues are forecast and a full selling program is developed. Sale prediction is an country where any quantitative methods employed must be tempered with human penetration and experience. The existent gross revenues will depend to a big grade on the kineticss of the environment. Qualitative techniques are by and large used for environmental prediction – an effort to foretell the societal. economic. legal. and technological environment in which the company will seek to recognize its programs. Gross saless calculating utilizations legion techniques. which include: ? ? ? Group determination doing techniques are used to arouse wide adept sentiment Scenario analysis in which each scenario in this procedure is a plausible hereafter environment Extrapolation of tendencies and rhythms through a time-series analysis. 3. Finance For the financial twelvemonth stoping January 31. 2011. Wal-Mart reported a net income of $ 15. 4 billion on $ 422 billion of gross with a 24. 7 percent gross net income border. The corporation’s international operations accounted for $ 109. 2 billion. or 26. 1 per centum. of entire gross revenues. It is the world’s 18th largest public corporation. harmonizing to the Forbes Global 2000 list. and the largest public corporation when ranked by gross. Walmart on an mean hire about 10000 employees every twelvemonth and on opening every individual shop Walmart employees 300 new employees. Their chief beginning of financess is there gross revenues and basic outgo goes on constructing new shops and employees salary. Job Hierarchy at Wal-Mart Human Resources Wal-Mart is the largest non-government employer in the universe. They realize that turnover is high in retail. but that their associates are one of their most of import assets. Their written policy sing associates is as follows: they are encouraged to keep the highest criterions of honestness. morality. and concern ethics . In order to go a Wal-Mart associate. campaigners must take a multiple-choice trial and choose what are considered the appropriate Wal-Mart responses in order to be hired. Due to the fact that Wal-Mart strives to maintain their costs low. they do non offer high rewards. They exist on many parttime and impermanent workers. do non offer these employees benefits. and do non pay their employees plenty to populate on. Wal-Mart has a 20-30 % cost advantage over competition. as their labour is non nonionized. Besides facing current judicial proceeding for non paying employees for overtime there are and have been several instances sing favoritism on the footing of gender ( female ) that females are frequently non hired or promoted to be directors.