Factors that Inform Reward Decisions

Factors that Inform Reward Decisions Assess the context of the reward environment and the key perspectives that inform reward decisions. In this section, you should: Use an appropriate analysis tool to identify the internal and external factors. Analyse the impact of business drivers and related factors on reward decisions. Give examples of different ways of gathering and presenting reward intelligence. An Introduction to the Company of B W Plant Hire and Sales Ltd B W Plant Hire and Sales Ltd was founded in 1994 by Bill Whitwell; Bill has over 40 years experience in the plant hire industry. His son Will, who is also from a plant hire background, joined him in the business in 1998. The company has grown steadily since then by supplying clients with a service they believe cannot be beaten. B W pride themselves in being readily available for advice and help when problems arise on site. Bill and Will now have in place a management team and workforce that mirrors their values, but still lead from the front line. B W are a plant hire company which hires plant (Excavators, Dumpers, Rollers, trenching) B W have 4 depots across the country Blackburn is head office where it all started, in 2004 B W started Bingley Depot now Keighley Depot, in 2006 B W started Southampton Depot, then in 2012 they bought Northwich Depot B W have been trading over 20 years in which time the company has grown and downsized because of the recession in 2008 now they are growing again. From a personal point I, have been with the company since Jan 2002 when there were on 6 employees they now have 73 employees and 30 subcontractors. Turnover is growing year on year. The purpose and goals of the Company is to make Profit and become one of the largest privately owned (Ltd) plant hire companies in the Northwest of England. The Company offers the service of Plant hire self-drive and operated plant along with sales of plant. The Company`s main customers are Civil Engineers, house builders, councils and general builders. External and Internal Environmental AnalysisThis environmental analysis will provide a complete external environmental image designed to provide B W with the tools needed to identify the Company`s strength and weaknesses. This is including an assessment of the company resources. This analysis will assess the company`s competitive position and possibilities of growth. An explanation of how the external environment affects B W structure and company performance. A PESTLE analysis is a framework used to monitor the external marketing environment of which provides an overview of the main external factors currently having an impact on the Company PESTLE see appendices 1 Auto enrolment the company `s staging date was 1st January 2016. It is a compulsory requirement of all companies to automatically enrol employees who are eligible by 2018 This is a saving scheme for when employee`s retire and has tax relief. Employers must either have one of their own (stakeholder pension) or a government back one or have a specialist pension provider. We have a government backed pension scheme called The Pension People (Thepensionsregulator.gov.uk. (2016). Stakeholder pensions |) This became law in October 2012 by 2018 all employed people should be in a workplace pension. This came about as people are living longer than the 3 score years and ten (70). the retirement age is going to go up between December 2018 and October 2020, the retirement age for both men and women will rise to 66. From 2018 to 2020 the state pension age for both men and women will start rising to 67. The governments pot of National insurance has been depleted so when the younger generation come to retire there will be no monies left in the pot (Social). The government decided to push people into saving for retirement by making it law for companies to compulsory join an auto enrolment scheme where by employee`s put 1% of their annual earning with tax relief and the company pays 1% eventually growing too minimum of 5% (political social and legal). The influence on the company and impact on reward strategy is Bonuses and pay rises have been effected by the company, by not increasing remuneration the 1% the company must pay into the pension scheme is a pay rise to the employee. This in turn also influences company growth as the employer must find this from somewhere i.e. profits (Economic) it is also seen by most companies as another tax but beneficial to the employee. Kiddie vouchers (Social and economic) We as a company have a young workforce at present, to help keep them we have introduced kiddie vouchers. This is a benefit that lets parents make substantial savings against the cost of their childcare. This works by Parents can receive up to  £55pw or  £243pm of childcare vouchers from their employer, free of tax and National Insurance. Compared to receiving earnings as salary or dividends, using childcare vouchers can save parents hundreds of pounds each year. Swapping taxable pay for tax-free childcare vouchers typically saves basic-rate taxpayers up to  £933 a year. At the same time, this simple swap saves employers up to  £402 a year per scheme member in employer National Insurance contributions. The impact on the company and the strategy the company has lower PAYE to pay to the HMRC this also helps the employee as they are not taxed as much. The cost of putting this in place is 2% so the company and the employee win. The employee sees this as an extra reward hopefully it will help to keep them employed with the company. The business SWOT see appendices 2 Mission statement this links in with how the company is driven and reward Mission Statement The aim of B W is to provide a service which goes beyond the expectations of their customers through the exceptional service of the staff accordingly who are highly equipped, motivated, trained and competent. B W support their customers with whatever the application, with market leading products and knowledge. The comprehensive fleet of modern machinery they provide is compliant with up to date legislation and regulations. Vision B W are committed to continually improving and aim to provide their customers with a reliable service. B W`s aim is to always satisfy the demand and become the customers only hire/sales supplier of quality Values The work practices and methods are undertaken and managed safely and cost effectively. B W are seeking to be an excellent employer, service provider, and customer. The directors recognise that B W`s staff are one of the most important assets to the company. To that end the company endeavours to reward staff who perform well and prove to be a good advert for the company. B W expect the best and so should B W`s customers and clients. The values of the company indicate the training and development for all employees, the employees are the most important asset to the company, this can be a motivator to the employees (the company is only as good as its staff) The rewards are a bonus paid half yearly to the senior management team this is if the net profit is over 10% of turnover then 1% of the net profit is divided by 5 (a substantial amount of money). B W pay over the national minimum wage. The employees are based on experience and the value they bring to the company if the company employ a fitter the average wage is  £12.00 per hour, B W start them on  £10.00 with 3 months probation after which time their pay will increase (they need to prove their worth) this is the same for HGV drivers but a different rate. The company also have a depot in Southampton the employees in the south are paid 2% more than in the north as the standard of living is more in the south. The driver of the business is growth while B W are tendering for operated plant they also need skilled plant drivers that hold a CSCS card (Construction Skills Certification Scheme) (legal obligation) this provides proof that the card holder has had training and is qualified to carry out the work intended. this could potentially be a large cost to the company CSCS card holders must complete training every 3 years. This is a reward to the employee the card belongs to the employee and can take it with them if they leave. The demand for plant is high now -the company are investing heavily the latest new kit/ plant to promote growth. B W will procced this way until there is a downturn in the economy. There is a healthy competition around now. B W offer customers the latest kit/plant along with competitive costs and good customer service, so they can plan their work. Theories for reward management see appendices 3 Economic theory, this considers wage rates that are determined by the supply of labour and the demand of this labour from employers, if there is a shortness of labour, there is an increase in wages for that sector A shortage of skills is a source of aggravation to companies and, when acute, it is likely to hinder the quality and quantity of their output. Companies can be accustomed to being limited by their capacity to find buyers for their products, not by their capacity to produce products. When companies have, buyers waiting, but cannot produce enough to satisfy the demand because they cannot recruit sufficient skilled workers, they interpret this as a failure of the skills development system. Skill shortages, the cause can be a general under-investment in skills development; rapid structural changes to be combined with low levels of overall unemployment; a recurrent surge in employment in a part of the economy; and spots of weakness in the training system. Employers could find that they are unable to attract the workers they want because the pay and working conditions on offer are unattractive. The supply of workers with a skill is difficult to measure for several of the following reasons. What is important is not just the number of people, but also the number of hours they are willing to work. While some people work long hours, many others work part-time. Within an occupation, there may be specialised sub-sets of skills or locations having difficulty recruiting, while other areas are not. As noted above, vacancies may go unfilled, not because there is no one available who can do the job, but because the wages and conditions on offer are unattractive. Within every skill group, there is a range of ability-from exceptional to ordinary. This variation in quality is important to employers, but not observable in measures of labour supply. Many people work in jobs that do not directly use their formal qualifications; alternatively, they may be of working age but are not seeking employment. (files.eric.ed.gov/fulltext/ED495918.pdf) B W have a shortage of plant fitters and HGV drivers. Tight Labour market This is an area of economic exchange in which workers seek jobs and employers seek workers. A tight labour market has more jobs than workers. In a loose labour market, has more workers than jobs. While parts of the construction and manufacturing sectors have been suffering from skills shortages leading to recruitment difficulties and higher pay, there is growing evidence that this is becoming a more widespread issue. Institutional theories of reward open system approach to setting wage levels environmental factors influence wage levels employers influence employees attitudes and behaviours by way of offering a wage premium to attract labour. Human capital theory. The workers invest in themselves by education and training. the higher the individual capital the higher the return in terms of pay and the benefits for the company Benchmark The need to benchmark the company`s benefits and allowances against those of other employers could be for several different reasons, from conducting an annual pay review to recruiting to a new position. B W rely on other local plant hire companies for information on the hourly rate of fitters and drivers, this can be an unreliable source. Thus, so by pushing rates up to attract potential employees moving around the industry Examples of different ways of gathering and presenting reward intelligence Exit Interviews this is by having a meeting with the departing employee and HR. the advantages are to establish trends within the company Sample size may be small. Thedisadvantages are the employee may not always give the full and accurate reason why they are leaving. Absence, this monitors sickness absence the advantages are it could highlight problem areas where by an employee feels they do want to come to work, rather than there is actual sickness. Disadvantages. This is not always an indicator of issues as may be seasonal (flu) Recruitment Difficulties, the company can find it difficult to recruit what should be available skills in the market. The advantages are it highlights potential short fall in company reward in comparison with local competitors. The disadvantages are a Poor reward is not the only reason people do not want to work for a company. Attitude Surveys this is normally an annual confidential survey for all employeesAdvantages: this highlights several issues including reward.   It Samples the whole company. It can monitor changes in attitude. The disadvantages are none Retention FiguresData on company leavers the advantages are changes in retention can indicate possible reward issues. The disadvantages are leavers are not always reward related. Salary survey this provides the necessary market data to build competitive pay structures for the company, the two most commonly referenced are: Ensuring the plans are internally equitable, and Ensuring the plans are externally competitive. The advantages are to determine if employees are receiving a fair and competitive wage. The survey output is data on the average or median salary for a specific position, taking into consideration the region, industry, company size, etc. Input data is aggregated directly from an employer or employee these companies are well-established on the market and have already created a reputation. Brands such as PayWell (PricewaterhouseCoopers/PwC), AON Hewitt, Mercer and the Hay Group are recognised by nearly all human resources and remuneration specialists. The disadvantages are Non-current data salary surveys based on data from employers aggregate input information over a matter of months. The standard data aggregation period is 3 to 4 months. Processing follows, which may take another 2 months. Companies may only receive the data they need after a half-year delay. The labour market changes over this time, in times of economic growth, and the data is no longer up-to-date after aggregation, processing and evaluation. (hr-guide.com/Compensation/Salary_Surveys.htm) Internal Business FactorsBy looking at company profit, sales and forecasts, what the business can afford. The advantages are job security keeps the company profitable the disadvantages are poor performance the company may not be able to afford the best candidates for the jobs- (Good work ain`t cheap, cheap work ain`t good). Bibliography http://employee-benefit.blogspot.co.uk/2011/06/achieving-aims-reward-management.html. (2016, nov 10). http://employee-benefit.blogspot.co.uk/2011/06/achieving-aims-reward-management.html. Retrieved from http://employee-benefit.blogspot.co.uk/2011/06/achieving-aims-reward-management.html http://en.allexperts.com/q/Dealing-Employees-1641/2015/2/wages-salary-administration.htm. (2016, dec 10). http://en.allexperts.com/q/Dealing-Employees-1641/2015/2/wages-salary-administration.htm. 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(2016, dec 19). http://www.hrvoice.org/the-role-of-line-managers-in-achieving-a-successful-rewards-program/. Retrieved from http://www.hrvoice.org/the-role-of-line-managers-in-achieving-a-successful-rewards-program/ http://www.kiddivouchers.com/. (2016, oct 10). http://www.kiddivouchers.com/. Retrieved from http://www.kiddivouchers.com/: http://www.kiddivouchers.com/ http://www.thisismoney.co.uk/money/pensions/article-1679780/New-state-pension-age-retire.html. (2016, oct 16). http://www.thisismoney.co.uk/money/pensions/article-1679780/New-state-pension-age-retire.html. Retrieved from http://www.thisismoney.co.uk/money/pensions/article-1679780/New-state-pension-age-retire.html: http://www.thisismoney.co.uk/money/pensions/article-1679780/New-state-pension-age-retire.html http://www2.cipd.co.uk/NR/rdonlyres/D8F8A7DC-D97B-4CE2-84FB-C48516FDB33B/0/SC.pdf. (2016, dec 19). http://www2.cipd.co.uk/NR/rdonlyres/D8F8A7DC-D97B-4CE2-84FB-C48516FDB33B/0/SC.pdf. 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Froebels Idea Of The Importance Of Play Education Essay

Friedrich Wilhelm August Froebel ( 1782-1852 ) is commonly best known as the conceiver of the Kindergarten system. He was a German educationist who was brought up with a strong Christian religion, which was polar to his educationist idea. His love for nature besides weighs heavy on his thoughts and religion. He gained acknowledgment from his first major work in 1826 The Education of Human Nature, but became celebrated subsequently in life when his kindergarten system gained recognition. His thoughts of kindergarten later took root in England, America and Australia and his work and thoughts subsequently influenced Karl Marx. Froebel believed in the integrity in all things saying that: â€Å" an ageless jurisprudence pervades and governs all things. The footing of this all-controlling jurisprudence is an all-pervading, living, self witting and therefore ageless integrity. This integrity is God. † He believed in the integrity of cognition and the interconnectedness of all things. Froebel was of the sentiment that there are defined phases of babyhood, childhood, boyhood and manhood. Stage two of childhood was what Froebel deemed the most of import because he felt that at this phase they begin to come to footings with the integrity of the existence and get down inquiring inquiries about life. His apprehension of childhood was such that each kid has a godly kernel and is linked to the existence: â€Å" it is, so, with childhood that existent instruction begins. At this clip the head demands more attention and attending than does the organic structure † Froebel believed in the kid as basically good. He said â€Å" the lone infallible redress for antagonizing any defects and even evil is to happen the originally good beginnings, the originally good side of the humanaˆÂ ¦ † his belief of the built-in goodness of a kid relates to his thoughts that the kid should be encouraged to assist and educate themselves in a certain regard. He thought that single human chances would come about through the work of the person. He believed that â€Å" the intent of instruction is to promote and steer adult male as a witting, believing and comprehending being in such a manner that divine interior jurisprudence through his ain personal pick ; instruction must demo him the ways and significances of achieving that end. † Froebels ‘ strong belief that kids are of course originative persons and through drama they become cognizant of their topographic point in the universe led to one of his cardinal component of his pedagogical system, which is that of drama. He felt that broadens their apprehension of the environment they live in. Froebel thought that â€Å" drama is the purest, most religious activity of adult male at this phase, † and that â€Å" play, so, is the highest look of human development in childhood, for it entirely is the free look of what is in the kid ‘s ‘ psyche. † Froebel placed this accent on drama in Kindergarten with the usage of gifts ( play stuffs ) and businesss ( activities ) . He believed that worlds are basically productive and originative and through prosecuting with the universe, understanding could blossom. He presented the kids with a series of geometrical gifts that were in a system of classs. A gift was given one at a clip and the kid was left to detect its belongingss and possibilities for design. Here, Froebels thought of integrity was put into pattern, as each plaything related to the following in some manner, which exemplifies the integrity of all objects and things in the universe. For illustration, the first â€Å" gift † is a ball. Froebel writes that we should be â€Å" concerned merely with the ball itself in its simplest signifier and in its simplest dealingss. It may be free, or attached to a twine, and in each instance it can be moved either freely and indeterminately or vertically, horizontally, or sidelong, with mention to given surfaces. Here, as it were, it acts as a usher into the universe of things, following their lineations by its motions, and so stand foring themaˆÂ ¦should be considered in relation to the kid himself. † In this manner, the kid is free to detect the elements of the ball and educate and learn for themselves merely by observation and interaction with the ball. Froebel thought that â€Å" Every external object comes to adult male with the invitation to find its nature and relationships † the succeeding gift after the ball would be the Globe. Its has obvious similarities to the ball, but for a kid, it represents a new degree of apprehension, for illustration its weight means that it moves in a different manner to the ball. The Earth did non ostracize or replace the ball ; it reinforced the old gift of the ball. The kid would come on through phases of gifts and at the same time each phase of understanding. However Froebel was certain that â€Å" m erely the equal development of adult male at each predating phase can consequence and convey approximately equal development at each wining subsequently phase. † He finally felt that: â€Å" a toy is any thing which is related to the kid as agencies to a intent, and which, by making pleasant expectancy, calls forth drama in which he finds fresh and uninterrupted pleasance. † The activities set for the kids in Kindergarten included games, vocals and narratives designed to help in centripetal and physical development and socialization. By playing, kids socialise and copy grownup societal and economic activities as they are bit by bit led into the larger universe of group life. This relates to Froebels ‘ thought of whole kid instruction, where the kid is being educated all unit of ammunition as an person of society. Froebel believed that the teacher-student relationship should be one of equality, non authorization and felt that there should be a strong influence of the parent and siblings on the kid ‘s educational acquisition and ripening. He believed that the kid should have a spiritual instruction every bit good. He states: â€Å" I would educate human existences who with their pess stand rooted in Gods Earth, in nature, whose custodies reach even into Eden and there lay eyes on the truth, in whose Black Marias are united both Earth and Eden, the varied life of Earth and natureaˆÂ ¦ † I have discussed Froebels thought of the importance of drama in kindergarten and in the development of the kid. I believe it is one of his most specific and most emphatic elements of his pedagogical system. However In stating that term from the inquiry, it raises a few jobs. Pedagogy normally refers to a learning system of a comprehensive program on how to educate, whereas Froebels â€Å" teaching method † would be non to hold one. He believed that the kid ‘s environment made up the course of study for the instruction and the kids would learn themselves in certain ways and understand the environment and discover things for themselves. He said that: â€Å" aˆÂ ¦each single scholar contributes to, and collaborates in, his or her ain acquisition. † Through this job it is apparent that Froebel had certain thoughts on childhood that began his theoretical thoughts on kindergarten, which subsequently developed more to the full into a kind of teaching method. In decision it is clear that Froebel was extremely interested in the cardinal figure of the kid and their single acquisition experience, similar to that of today ‘s kid centred instruction. Froebel finally believed â€Å" the indispensable concern of the school is non so much to learn and to pass on a assortment and multiplicity of things, as it is to give prominence to the ever-living integrity that is in all things † Froebels kindergarten system and his thought of the nature of kids are rather cohesive in such ways that he allows the kid to educate themselves in the scene of the kindergarten thought usage of his gifts and allows the kid a certain freedom to research the natural universe and in bend develop their apprehension of the existence. He wanted to develop persons who were all rounded in their instruction and who had certain moral stances and who were in a manner, free minds. In decision, his overall apprehension and purpose of kindergarten was that: â€Å" Edu cation in other words, should take adult male to a clear cognition of himself, to peace with nature, to integrity with God. †

Short Story Oh My God ! Can I Touch Hair - 1611 Words

â€Å"Oh my god! Can I touch your hair? It is so cool.† This is an example of the types of questions my friend KT is asked on a regular basis. In fear of seeming rude, she always allows it without complaint even though it makes her uncomfortable. Instead of being honest, she sits, allows herself to be poked and prodded, and holds her own thoughts hostage within her mind. She wonders if the girl has really never seen hair like hers before. She wonders why the girl has such a zealous desire to touch her hair; what makes it so enchanting? Unfortunately, I was not being completely honest when I said that KT receives questions like this on a regular basis. I did not reveal a critical piece of information that follows that statement: she was not asked questions like this before attending Roger Williams University. KT did not feel any different in high school. She was well known and respected. She was the class president; she was very involved in her school and felt like she was surr ounded by a family. Unfortunately, those feelings of solace and delight towards school did not transfer over to Roger Williams University. Now, she feels that everything for her is a constant battle: â€Å"I always have to explain why I am the way I am. At this point I don’t even feel different I know I am different.† People ask her where she is from, but they do not mean from which state or which town; they mean which country. Teachers ask her the correct way to pronounce her name, but they never make anyShow MoreRelatedThe Tell Tale Heart By Edgar Allan Poe1030 Words   |  5 PagesAllan Poe, a nameless man narrates the story of how he murdered an elderly man because of his eyes. In his short story The Tell-Tale Heart, Poe shows the themes of guilt and the descent into madness through the narrator, in this gothic horror story. Edgar Allan Poe wrote many gothic tales throughout his life and he does not disappoint with The Tell-Tale Heart for through this murder story Poe shows the descent into madness through the narrator. â€Å" The story s narrator himself cannot satisfactorilyRead MoreBrief Analysis of The Works of Edgar Allan Poe1271 Words   |  6 PagesAllan Poe’s short stories. In â€Å"The Tell-Tale Heart† (1843) the unnamed narrator is not trying to convince the reader that he is not guilty, just that he is not crazy. He was justified in killing the old man with the â€Å"vulture-like eye† and hiding the body under the floorboards of his home. He may be trying to save his own skin, but that is not the point. The crime is not in question; it is the narrator’s sanity. How can one trust the storyteller, if you only get one part of the story? This is whatRead MoreI Am A Self Proclaimed Matchmaker1870 Words   |  8 PagesIn the beginning it was love. In the middle it was love. At the end, it was love. 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As Chopin takesRead MoreA Case With The Drug Addicted Babies1836 Words   |  8 PagesI’m hoping this letter finds you as well as the circumstances allow, I know you have no clue who I am, but I’ve been praying for you for months. See, a few months ago my baby and I were seated next to the nicest woman at the hair salon and we ended up chatting for a couple of hours. She was overflowing with love for this little one that was still shaking with tremors from becoming addicted to drugs while in his motherâ€⠄¢s womb. As she described him and the therapy and the fussiness and all of theRead MoreThe Iliad by Homer1383 Words   |  6 Pagescloud of sorrow closed on Achilleus. In both hands he caught up the grimy dust, and poured it over his head and face, and fouled his handsome countenance. And he himself, mightily in his might, in the dust lay at length, and took and tore at his hair with his hands, and defiled it† (Iliad book 18 lines 23-27). After this passionate scene, however, Homer goes on to describe the creation of Achilleus’s new shield and the image which it contains. On this shield, Hephaistos illustrates the landRead MoreNonverbal Verbal And Verbal Language1776 Words   |  8 Pagesof haptics from the nonverbal communication and the concept of slang and the concept of powerful and powerless language from the verbal communication through a television show â€Å"The Real O Neal, The Real Heartbreak†, which is about O’Neal’s family story in Valentine Day, and some other examples. From these examples we will see nonverbal language and verbal language influence the effectiveness of our communication and relationship with people because they strengthen speakers’ ideas, improve peopleRead MoreEssay on Suicide in A Perfect Day for Bananafish by J. D. Salinger2073 Words   |  9 PagesA Perfect Day for Bananafish follows the events leading up to the eventual suicide of Seymour Glass. In the story, Seymour is described as a lost spirit who sees himself as being fundamentally different from his social environment following his wartime experience; he leaves the war â€Å"seeing-more† and as a result, awakens to find that he has lost touch with the material world. Salinger uses the story’s dialog as the medium for conveying Seymour’s struggle; he establishes the shallow nature of the environmentRead MoreThe City Of New York2083 Words   |  9 PagesHermes smiled. The city of New York was marve lous. It was the place all travelers yearned for, so naturally it was his home. He sat down in his chair and sighed, â€Å"another day of buying stocks, filling out forms, and making calls. I hate mortals.† He went to work, grumbling about secretaries and Mondays, when his intercom buzzed, â€Å"Mr.Hermes, a man is here to see you. He claims to be a relative.† Hermes frowned and hit his button, â€Å"What’s his name; Zeus? Poseidon?† Again, the speaker beeped, â€Å"NoRead MoreEssay on James Joyces Araby3507 Words   |  15 PagesJames Joyces Araby I doubt there are book logs that commence with a note directing a reader, specifically you, even though I get the impression from Mr. Little to whom riding between pairs of glasses suggesting that in order to gather a bounty against my beloved head I must be obliged to fathoming on how to receive topic sentences with cradling arms and craters of dimples (have to love formalities, even of those lolling head-stumps, after all, it keeps NATO all trite

Enron A Model Of The Innovative Company - 1684 Words

Enron Enron began in July 1985, and its headquarters were in Houston. It started from a small regional energy supplier. However, Enron was dissatisfied with the traditional way of doing business, so it began to look toward energy security. Enron s management believed that the creation of derivative securities market for any commodity was possible, so Enron developed energy commodity futures, options, and other financial derivatives. Energy deregulation brought this company great commercial opportunities. Enron was considered to be a model of the innovative company. Because of the deregulation, it became a trader of everything from oil and gas futures to weather derivatives. They took a new strategy by setting up a â€Å"gas bank†. Later, the generation of electricity forced Enron to explore new industrial customers for its gas. From 1990 to 2000, Enron largely expanded their oversea business. In 1994, Enron began buying and selling electricity. After Skilling became the COO and Fast ow became the CFO of the company, Enron continued to implement dual strategies of expanding its trading activities and synchronously investing a lot of money in physical assets. Enron’s shares, in the late 1990s, had significantly outperformed the market even when the market fell. Maintaining the EPS brought Enron huge pressure to find new projects to invest. The chosen solution was to get some of the assets and related debt off the balance sheet. After Enron took series of actions, problems emergedShow MoreRelatedEnron : An Interstate Pipeline Company825 Words   |  4 PagesSECTION ONE : INTRODUCTION ENRON was established back in 1985 as an interstate pipeline company following the federal deregulation of natural gas pipelines. It was born from the merger of Houston Natural Gas and Omaha based InterNorth, a Nebraska pipeline company. Enron incurred massive debt as a result of the merger which led to it losing exclusive rights to its pipelines. Enron at this point had to come up with a new innovative business strategy in order to survive. CEO, Kenneth Lay hired servicesRead MoreFall of Enron1160 Words   |  5 PagesThe Fall of Enron 1. Why was Enron such an admired company prior to 2000? What innovation do they bring to the table? Be specific and support your statement with concrete information. Prior to the year 2000, Enron Company, established in the mid-80s, caused the admiration worldwide because of its fast rise of revenue both in the local and international stock market in a short period of time. Enron’s operating income in the year 2000 was stated in $100.7 billion and its after-tax net income wasRead MoreAccounting Scandals And Enron Accounting Scandal1596 Words   |  7 Pagesspecifically the Enron Accounting Scandal. First, I will be exploring the history of Enron. Then I will be going into further depth on what accounting issues Enron faced and then I will be explaining what a derivative is. Finally yet importantly, I will consider the different types of Accounting Fraud following a conclusion. Accounting Scandals are born due to collective greed and corporate arrogance. In the case of Enron there was a lot of euphoria before the downfall. Stock prices soared and Enron was seenRead MoreThe Enron Scandal854 Words   |  4 PagesThe Enron Scandal Background Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 20,000 staff and was one of the world s leading electricity, natural gas, communications, and pulp and paper companies, with claimed revenues of nearly $101 billion in 2000.[1] Fortune named Enron America s Most Innovative Company for six consecutive years. At the end of 2001, it was revealedRead MoreEthics And Integrity Of Enron769 Words   |  4 PagesMost companies pride themselves on their business model and ethics to help make them successful. Ethics and Integrity are two things all companies should practice and promote. When Enron was first developed that is what they set out to do, but things quickly took a turn for the worst. The name Enron is now synonymous with fraud, in one of the biggest Wall Street scandals in history. In 1985 Enron was conceived by two gas companies merging together in Houston, TX. The company began to boom in theRead 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 The Gas Pipeline Industry772 Words   |  4 Pagesits energy-trading model, Enron’s top executives fooled major financial institutions and accounting firms by hiding its losses from these new ventures within its financial statements. In the beginning, Enron was revolutionary in t he gas pipeline industry, because it took advantage of the deregulated environment. As a result, Enron could ensure their customers, gas suppliers, consistent gas prices through hedging (Healy and Palepu 2). Enron’s success with this energy-trading model built its trustworthinessRead MoreENRON and Faudulent Record Keeping Practices1369 Words   |  6 PagesIntroduction Enron went from modestly outperforming the Standard Poor’s 500 in the early 1990’s to drastically outperforming it in 1999 and 2000. In 1999 and 2000, Enron stock increased 56 percent and 87 percent, respectively; compared with to only a 20 percent increase and 10 percent decline for the index during the same years (Healy and Palepu, 3 2003). While these increases were originally attributed to innovation (being rated the most innovative company in America by Fortune), it was laterRead MoreEnron Corporation : The Largest Energy Trading Essay1131 Words   |  5 PagesEnron Corporation is the largest energy-trading located in Houston, Texas. It was founded by Kenneth L. Lay in 1985. Enron has been form through the merger between Houston Natural Gas and InterNorth Incorporation and initially named it as HNG/Inter-North Incorporation, before renames it as Enteron. In 1986, the company name has been shortened to Enron Corporation. At the beginning of the operation, Enron o nly involved in the transmission and distribution of electricity and gas throughout the UnitedRead MoreOrganizational Culture : The Smartest Guys Of The Room1649 Words   |  7 Pagesculture is one whose organization’s core values are both intensely held and widely shared. After viewing Enron: The Smartest Guys in the Room, it is obvious that Enron had not only an organizational culture that was strong, but one that was extreme and aggressive. This aggressive and strong organizational culture discouraged both teamwork and ethical behavior and in the end it only plagued Enron until it eventually collapsed under its downfall. The aggressive organizational culture started with Enron’s