This week’s key concept focuses on the terminologies we use to outline the principles of strategic management. Thus, you are going to be thinking about things like vision, mission, goals, scope and advantage. In this week’s assessed exercise, we ask you to consider each of these things in the light of the now infamous Enron scandal, and offer your own conclusions in terms of how these events could have been allowed to happen.
In an approximately 500-word response, address the following issues/questions:
Consider the events involving Enron as described by Deacon (2004) (see attached) and expand on the following:
1. How crucial was the role of governance in influencing strategic purpose at Enron, should there have been more or less of a role?
2. Who were the key stakeholders involved in developing Enron’s strategic purpose, and how might those stakeholders have better managed some of the elements associated with that purpose?
Read the Required Learning Resources for Week 5.
• Please note that your Key Concept Exercise will be based on the Enron scandal as described in the Deakin (2004) article. (see attached)
• Reflect on the ways in which the vision of an organisation is defined and communicated and how that vision impacts the strategic purpose of that organisation.
• Also, consider the role of governance in ensuring that an organisation’s aims and objectives are both appropriate and able to be met.