IDEAS home Printed from https://ideas.repec.org/a/rom/econmn/v12y2009i2specialp51-57.html
   My bibliography  Save this article

The collapse of ENRON, a classic case of corporate social irresponsibility

Author

Listed:
  • PETRACHE Ana-Maria

    () (The Bucharest Academy of Economic Studies, Romania)

Abstract

Corporate Social Responsibility is an issue that is working its way into many policy debates and corporate agendas. The definition of corporate social responsibility has undergone substantial modifications over time and it is still evolving along with society and society’s expectations. There is no globally accepted definition of CSR, nor is there a consensus on a definitive list of the issues it encompasses. It is generally agreed that CSR is neither corporate philanthropy nor strict compliance with the law. However, we can easily identify “events” which doesn’t fit in the CSR framework. The collapse of energy broker Enron Corp. has been described as the biggest business surprise of the past 10 years. It was a surprise which unexpectedly left 20000 employees in a deeply compromised safety of their pension funds. The concept of CSR is underpinned by the idea that corporations can no longer act as isolated economic entities operating in detachment from broader society. Traditional views about competitiveness, survival and profitability are being swept away. The increasingly negative and very pervasive impact of global corporations in all aspects of social life and in the environment has been the catalyst in the emergence of a diversity of stakeholders demanding accountability about the impact of corporate activity in the whole aspects of its influence.

Suggested Citation

  • PETRACHE Ana-Maria, 2009. "The collapse of ENRON, a classic case of corporate social irresponsibility," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(2 Special), pages 51-57, July.
  • Handle: RePEc:rom:econmn:v:12:y:2009:i:2special:p:51-57
    as

    Download full text from publisher

    File URL: http://www.management.ase.ro/reveconomia/2009-2s/10.pdf
    Download Restriction: no

    More about this item

    Keywords

    corporate social responsibility; irresponsibility; ethical leadership; Enron;

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rom:econmn:v:12:y:2009:i:2special:p:51-57. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ciocoiu Nadia Carmen). General contact details of provider: http://edirc.repec.org/data/mnasero.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.