4 things recruiters look for in your resume told by a Facebook manager

4 things recruiters look for in your resume told by a Facebook manager On the annual lists of the best places to work, the tech sector always has a sampling of the hot new startups and companies- but there are also the perennial favorites, like Google and Facebook. This means that the recruiters and hiring teams for these companies are inundated with every kind of applicant and resume you can imagine. Really, they’ve seen it all. So what works with the hiring czars at these hyper-competitive companies? Let’s look at some tips from Jeff Raynar, a hiring manager at Facebook, and how you can apply them to your own resume. 1. Tell your story.When you’re fighting against a pile of probably similar resumes, your uniqueness needs to stand out. The best way to do that is to distinguish your story from the next guy’s. Buzzwords are easy, but creating a clear, cohesive narrative can be more effective.How to do this on your own resume: Make sure your resume bullets aren’t just a laundry list of tasks you’ve held, but a sto ry about how you’ve grown and developed throughout your career, taking on new responsibilities and adding new accomplishments. This is also where your cover letter comes in- you have several paragraphs to show the reader why you’re a great fit for this job and who you are. Use action verbs, not buzzwords. And make sure your story is clear and not too long- think elevator pitch, not monologue. Ideally, you’ll have a chance to talk more about your story in an interview, but on the resume you really just want to stand out from the crowd and get the attention that can get you to the next level.2. Don’t mess with formatting.You might think that the best way to make your resume stand out is to make the font bold, or brightly colored. Not so- the traditional format does just fine, and is a classic for a reason.How to do this on your own resume: You don’t need bells and whistles to grab attention- use your content and words to show your passion, your accom plishments, and your skills.3. Think of it as a marketing presentation.Whether you work in the marketing field or not, you are marketing a product: you. It’s important to understand your audience and target your message (e.g. your resume) accordingly.How to do this on your own resume: Research the heck out of the company, including the job description. What are they seeking? What does the company value, based on its mission statement or website? This info will help you decide what to prioritize in your skills and experience bullets.4. Proofread your resume.Whenever you send in a resume or cover letter, it should be clean and as error-free as humanly possible. You want to impress the reader, but if they can’t even get past glaring typos or unclear grammar, it decreases the chances that they’ll pass your resume on to the next level.How to do this on your own resume: Give everything a close read before you hit â€Å"send.† If at all possible, get a fresh set of eyes. Have a trusted friend or family member read over your materials to make sure a) there aren’t any major mistakes; and b) everything is clear and makes sense. After a while, you’ll start to glaze over your own writing and may miss small mistakes that a third party would notice. So always make room for this extra checking step before your submit.Getting noticed can feel like an uphill challenge when every job opening attracts hundreds of applicants, but the more work you put into your resume now, the better the chances that yours will be one of the lucky resumes chosen from the crowd.

6 Jobs With Amazing Benefits and Perks

6 Jobs With Amazing Benefits and Perks a lot of jobs hover around the same salary range, and seem sort of boring around the edges. if you’re straining to pick what you want to be when you grow up, and you appreciate the quirkier and slightly more original job perks package, then these 6Â  jobs might be for you. 1. flight attendantbeing a flight attendant is kind of like being a waitress in a sealed capsule, traveling very long distances. the people can be grumpy, the job physically demanding, but you also have the benefit of seeing many different parts of the world. there’s good insurance, tuition assistance, excellent travel options like reciprocal travel agreements, and you won’t ever have to work a typical 9-5. the job can be demanding, both physically and emotionally, but it will rarely be boring.2. circus artistfew people can threaten to run off and join the circus. but if you happen to have a talent or penchant for physical theatre or performance, and the chutzpah to make it in this punishing w orld, then it isn’t quite as ridiculous as it might sound. circus performers, though they must be incredibly skilled, make great money, travel widely, and are given generous meal and lodging allowances, not to mention the close knit family of a group of performers on tour. if you have the heart and soul required, it can be an incredibly exciting career.3. journalistobviously, you would need a significant talent for writing, plus the ability to work in a fast-paced high-stress environment. it won’t pay as much as many other sexy fields, but you really can get access to corners of the world you may never have dreamed of. you can see and record things- be at the center of history, and really make a difference writing about things you truly care about.4. radio djif you love music and have an extensive enough collection, you might consider breaking into this field. imagine spending your day spinning your favorite tunes and chatting up a devoted audience. sound like more fun than pushing paper? well it is. you won’t work typical hours, but you’ll get lots of comp tickets and swag, not to mention the ability to meet people in the music industry, and you’ll spend hours and hours listening to the music that you love.5. personal assistantit doesn’t sound as sexy as some other possible careers, but a personal assistant actually gets some great perks for that low salary and high number of hours required to get her job done. the job is demanding, but if you happen to work for someone famous or fantastic, then you’re in for some sweet perks. you could end up tagging along at red carpet events, fancy dinners, epic vacations, and though you might have to work the whole time you are in it, you’ll have a taste of access to the vip world.6. sommelierif you love wine and have a keen nose and palate, this is for you. imagine getting paid to obsess over the tiniest details of the most exquisite wines, and then tasting them, fo r a living. at the master level, you could make a lot of money, but even a new sommelier will have the chance to travel, taste some of the best and rarest wines out there, pair those wines with delicious gourmet food, and chat to people from around the world. the hours are long, but the life is indisputably good for an aspiring enologist.6 careers with great benefits

Shakespeare in love Movie Review Example | Topics and Well Written Essays - 500 words

Shakespeare in love - Movie Review Example The film revolves around the basic fact that how love changed the life of Shakespeare; once when he was betrayed by his lover and the time, when he was unable to complete his comedy play as the tragedy of Romeo Juliet and at the other time, when Viola de Lesseps brought happiness and inspiration in his life and he completed his project under the influence of love. Love can leave a huge impact on the life of a person; either negatively or positively. After watching this movie, I felt that William Shakespeare, the greatest writer as known to the entire world, had same emotional feelings like any of us. He was no different from a common man. Love was the greatest inspiration in his life which made him a successful man and an emotional playwright. During the Elizabethan age, theater and literature rose to a great height. Queen Elizabeth was very much fond of Shakespeare’ plays and supported the theaters. However, during this period women were not allowed to participate in plays and theaters due to societal norms and restrictions. In this movie, Viola de Lesseps went against the rules of society and disguised herself as a man to participate in Shakespeare’s play but the theater had to pay the heavy price for her involvement in the play as soon as the officials came to know about the truth. The movie highlights the era when women were deprived of their rights and involvement in arts and literature much broadly. After watching the movie, I realized that William Shakespeare had the same feelings like an ordinary man who derived his inspirations from living examples, more particularly, his own ones. Love has played a key role in giving a romantic and emotional touch to his work. In the movie, he has appeared as a sensitive man to whom love meant everything and a divine inspiration which helped him to achieve new heights in the world

Organisational Strategy Case Study Example | Topics and Well Written Essays - 2500 words

Organisational Strategy - Case Study Example Porter (1980) explained the importance of focusing on cost leadership and product differentiation to gain competitive advantage - producing an excellent product which is a complete solution to a perceived need. It will then use system lock-in to sustain its competitive edge - locking in complementary products, maintaining a proprietary standard whilst locking out potential competitors. Between 1996 and 2006 the PC industry underwent two major revolutions. Firstly the way in which PCs were ordered changed with the commencement of e-commerce and secondly the methodology for manufacturing PCs altered radically with the introduction of lean manufacturing and supply chain management. 1996 Dell began selling on-line in 1996 recognizing the importance of having an encompassing e-commerce strategy. By 2000 its on-line sales were $50m/day. Dell became the largest manufacturer of personal computers in the world in 2001. Many have argued that the Internet renders strategy obsolete. In reality the opposite is trueit is more important than ever for companies to distinguish themselves through strategy. The winners will be those that view the internet as a complement to, not a cannibal of, traditional ways of competing. The great paradox of the Internet is that its very benefits - making information widely available; reducing the difficulty of purchasing, marketing, and distribution; allowing buyers and sellers to find and transact business with one another more easily - also make it more difficult for companies to capture those benefits as profits. (Porter, 2001) Figure 3 The Five Forces Source: Porter(2001) Being online increases competition. However there are opportunities there - particularly the removal or reduction of barriers to entry, and potentially equal access to consumers. Dell has no research and design costs thus increasing its advantage. IBM had already shown that marketing and distribution skills were more important than the latest technological innovation as the market for low cost PCs matured faster than anticipated. Dell simply adopted IBM's strategy: Advanced design Open source software Multi-channel distribution Low-cost manufacturing Aggressive pricing Supply Chain Management Strategy Taylor

Research Proposal E Construction Dispute Model Construction Essay

Research Proposal E Construction Dispute Model Construction Essay Construction industry cannot avoid from disputes as many parties involved in one industry. All the parties insert dispute resolution mechanisms into the contract in the hope that the disputes can be avoided or solved as quickly as they can as they arise. If disputes are not managed properly, they tend to drag on and escalate to cause projects delays and ultimately ruined the relationships. There is now a wide armoury of dispute resolution methods available for resolving construction disputes. The most popular out of these being litigation and alternative dispute resolution (ADR) processes such as arbitration, mediation, and conciliation. These dispute resolution processes suffer two key disadvantages, which arise from the fact that these processes only come into play after a dispute has arisen. One disadvantage is that, during the dispute resolution process, trust between the parties may be sorely tested, or even destroyed. The other disadvantage is that the time and cost of resolvin g a dispute may affect the expected project gains of parties concerned. It is essential in construction industry to adopt an anticipative approach to management. Since disputes have been one of the major factors affecting cost and time, it is necessary to determine the classification of dispute from the construction law cases and then the e-CDM can be the tool/database to prevent the conflicts or disputes at any stages of construction. By having thorough knowledge and information in this tool/database, it will definitely help the project manager and contract manager to anticipate problems at an early stage of the project without going through any other Alternative Dispute Resolution method which will cost extra money on the top of the project cost. INTRODUCTION Malaysia has been developing rapidly in tandem and racing a head to become industrialised nation. Undoubtedly, the building and construction industry are instrumental as the driving forces to contribute towards realising this aspiration. The construction industries are expected to play a vital role by contribution of 11.2% to the gross domestic product (GDP) in 2013.  [1]  According to CIDB Chief Executive Datuk Sri Dr. Judin Abdul Karim, the construction industry is expected to secure RM 120bil worth of the project in 2013.  [2]  In order to achieve this encouraging but challenging target, the Government and the private sector must work closely together to ensure projects under the Economic Transformation Program (ETP), the Entry Point Project (EPP), project under the 5 corridors and the Greater Kuala Lumpur and Klang Valley are implemented in the timely manner to avoid any delays that would increase cost. The construction industry in Malaysia is fast growing and in light of the economy uncertainty, the world is now facing, great challenges face players in the industry. Dispute amongst parties involved in the industry are unavoidable. It would be impossible to create an environment where the industry would not be affected but great effort should be expended to minimize the effect that would be failing the industry. To do so, it is important that disputes be resolved in the most expedient and economic manner to enable parties in the industry to move forward without being badly affected. BACKGROUND STUDY Modern day construction projects vary from simple houses for individuals to complex infrastructure projects for governments. Some construction projects may even involve cross border movement of resources and not limited to the control of a single jurisdiction. A variety of factors, including, unfair allocation of risks, multiple contracts, unrealistic expectations and schedules, poorly drafted or inadequate contract documents, design omissions, tighter funding, the lack of experienced personnel, communication problems, and even the state of the economy, add to the complexity of construction projects. As a result, construction projects are a breeding ground for contractual dispute. Cooke J in Canterbury Pipe Lines Ltd v Christchurch Drainage Board  [3]  said Building contracts have been traditionally a fertile source of disputesà ¢Ã¢â€š ¬Ã‚ ¦ The enunciation aptly summarizes the very nature of construction industry as an industry notorious for complex disputes.  [4]  The primary cause of such disputes arises from inadequate legal knowledge.  [5]  Majority of construction practitioners comes from technical engineering and architectural background without adequate legal knowledge in contracts and this has led to numerous disputes in construction contracts. Lack of knowledge in construction laws by construction players has been the leading cause of dispute. Employers, Consultants and Contractors though with years of experiences in the industry are usually lacking of the legal knowledge and understanding on the operation and effects of various clauses in construction contracts in general and handling dispute. The lacking in understanding the legal and contractual aspects of contract may be caused by not having the experience to undergo the process itself or just plain ignorance of the topic overridden by over-zealous attitude of churning maximum profits and in the understanding that legal experts are there to provide all the required advice and service. Lack of knowledge in construction law will lead to wrong interpretation of contracts in which the party tends to take trivial matters to the dispute. Construction industry cannot avoid from disputes as many parties involved in one industry. All the parties insert dispute resolution mechanisms into the contract in the hope that the disputes can be avoided or solved as quickly as they can as they arise. If disputes are not managed properly, they tend to drag on and escalate to cause projects delays and ultimately ruined the relationships. Lord Denning  [6]  , when commenting on construction disputes, is quoted as saying; One of the greatest threats to cashflow is the incidence of disputes. Resolving them by litigation is frequently lengthy and expensive. Arbitration in the construction context is often as bad or worse According to Hibberd and Newman  [7]  , litigation gains an unpopular name when time goes on. They quote that A substantial majority (70%) suggested the whole system takes too long, whilst almost 30% suggested that the costs of litigation are far too high. As the litigation cannot solve dispute effectively, arbitration had been introduced. Professionals believed that arbitration can solve the problems without ignoring the main desire of clients. Most of the clients depend on those who know contract better than them. They hope these professional can help them with the lowest cost and fastest way to solve the problem. There is much truth in the old adage that prevention is better than cure. The various dispute resolution processes referred to mediation, conciliation and arbitration all suffer two particular disadvantages, which arise from the fact that these processes only come into play when a dispute has crystallized. One disadvantage is that, during the dispute resolution process, trust between the parties may be sorely tested, or even destroyed. The extent to which this occurs is likely to be proportional to the time and cost (in both money and resources) of resolving the dispute. As ongoing trust between contracting parties is such an essential ingredient of healthy and efficient project delivery, this can be a significant disadvantage in a continuing relationship such as will typically be found in a BOOT project. The longer and more acrimonious the dispute resolution process, the greater the likelihood that there will be a loss of trust in any continuing relationship. By having a readily accessible resource such as e-Construction Dispute Model (e-CDM) which the parties can access during the course of the project at any construction stages, the impact of disputes is minimized. In contrast to the dispute resolution processes earlier described, e-CDM seek to avoid or minimize the incidence of disputes by a timely, little costly and relatively informal process which takes place while the work is in progress. Used effectively, they can lead to a reinforcement and enhancement of trust, with a positive impact on the project as construction unfolds. PROBLEM STATEMENT The construction industry is notorious for high levels of conflicts and disputes. It is a project based industry with each project being unique. Some construction projects may even involve cross border movement of resources and not limited to the control of a single jurisdiction. A variety of factors, including, unfair allocation unfair allocation of risks, multiple contracts, unrealistic expectations and schedules, poorly drafted or inadequate contract documents, design omissions, tighter funding, the lack of experienced personnel, communication problems, and even the state of the economy, add to the complexity of construction projects. As a result, construction projects are a breeding ground for contractual disputes.  [8]   It could be said that the adversarial nature of the construction industry contributes to the germination and manifestation of construction disputes. As such, the construction industry has been at the forefront of the search for effective and efficient dispute resolution mechanisms. Project procurement and construction disputes are two of the major concerns in the construction industry worldwide.  [9]  There is now a wide armoury of dispute resolution methods available for resolving construction disputes. The most popular out of these being litigation and alternative dispute resolution (ADR) processes such as arbitration, mediation, and conciliation. These dispute resolution processes suffer two key disadvantages, which arise from the fact that these processes only come into play after a dispute has arisen. One disadvantage is that, during the dispute resolution process, trust between the parties may be sorely tested, or even destroyed. The other disadvantage is that the time and cost of resolving a dispute may affect the expected project gains of parties concerned. In the circumstances, the current trend is to look for methods other than processes such as litigation, arbitration, mediation, and conciliation that could be put in motion before or at least, soon after a conflict has arisen. The aim is to ensure that dispute prevention measures, or at least measures for minimizing the scope of any dispute is put in place before the parties positions have hardened. Traditionally, resolving construction disputes are done through litigation. This can be confirmed by 72 cases related to building contract being reported by the Malayan Law Journal between 1990 and 2007 and the Current Law Journal which reported about 200 cases of construction related issues since 2004.  [10]  Yet, today the litigation procedures have fallen into disrepute, particularly due to excessive costs, delays, procedural complexity and adversarial approach.  [11]  The earlier research have come out with the new approach by developing eDR model but it only focus on on contractual variations  [12]  in construction projects. The lacking of law knowledge in every term of contact still needs to be addressed. It is essential in construction industry to adopt an anticipative approach to management. Since disputes have been one of the major factors affecting cost and time, it is necessary to determine the classification of dispute from the construction law cases and then the e-CDM can be the tool/database to prevent the conflicts or disputes at any stages of construction. By having thorough knowledge and information in this tool/database, it will definitely help the project manager and contract manager to anticipate problems at an early stage of the project without going through any other Alternative Dispute Resolution method which will cost extra money on the top of the project cost. RESEARCH OBJECTIVE The objective of this study are: To classification the types of dispute in the Malaysian construction industry base on the related law cases; To develop an e-CDM model as the database for construction industry; and To develop an application of e-CDP prototype/system based on types of the disputes, the parties involved, type of the project, when do the disputes occurred, and standard form of contract for the project. RESEARCH AIM The research has highlighted the problem statements on poor understanding of contract administration and lack of contractual knowledge toward the most litigious issue in construction. Therefore, the aim of this research is to classify the types of dispute based on related law cases in construction and subsequently propose and develop eCDM tool/database on construction disputes as an alternative way for resolving disputes in construction projects. SCOPE OF STUDIES This research is limited to the following:- a) To construction disputes reported by Malayan Law Journal. b) Cases related to Building Contract in Malaysia. RESEARCH METHODOLOGY Briefly, this research will be carried out with five (5) different stages: Identifying the research issue Literature review Data and information collection Data and information collection Research analysis Data and information collection Conclusion and recommendations Data and information collection Identifying the Research Issue Identifying the research issue is the very initial stage from the whole research. Initial literature review was done in order to obtain the overview of the particular research topic. In identifying the issue, firstly, it will involves reading on various sources of published materials such as journals, articles, seminar papers, cases, previous research papers, or other related research materials, newspapers, magazines and electronic resources as well as World Wide Web and online e-databases from UM librarys website.  [13]  At the same time, discussions with supervisors, lecturers, as well as course mates have been done to gain more ideas and knowledge relating to the topic. Literature Review The second stage in executing a research is literature review. Literature review stage is basically a stage when the researcher will be reading and also need to criticize on each and every material that has been read. Published resources, like books, journals, varies standard form of contract and related statutory are the most helpful sources in this stage. Literature review also will be involving the collection of documents from the secondary data research, such as books, journals, newspapers.  [14]   Data and Information Collection This stage is data and information collection stage. This is an important stage towards achieving the objectives of this research. In this stage, the further action is to collect the relevant information based on the secondary data from the published resources. Lexis-Nexis database which provides cases of Malayan Law Journal is the main sources in getting the related cases. Research Analysis During this stage, all of the data collected data, information, ideas, opinions and comments were specifically arranged, analyze and also will be interpreted based on the literature view which will be carried out. This stage also could be called as the heart of the research as from this chapter; we can see how the objective has been achieved. Conclusion and recommendations Conclusion and recommendations is the final stage of the research. In this stage the findings will be able to show the result of the research. A conclusion needs to be drawn in-line with the objectives of the research. At the same time, some appropriate recommendations related to the problems will be made for a better solution in relation to the said problem. CONCLUSION Disputes between parties to construction projects are of great concern to the industry; nevertheless, the subject is dominated by anecdote and hearsay. The study of construction industry disputes, and the causes of those disputes, is essential. In fact, it would seem that effective management action can be taken only if based on reliable evidence and as contract manager it is essential for them to consider all kinds of dispute in construction industry.

Greed Essay †Enron and Northern Rock Corporate Collapse

Abstract The spectacular collapse of both Enron and Northern Rock illustrate two very distinct methods of errant policy that deserve continual study.This essay examines and compares the roles of both companies during their respective period of failure in order to determine the fundamental causes that led each of these companies to ruin. The evidence presented outlines a pattern of greed, ambition and poor policy that combined to drive the entities to failure. This research will be of value to any person looking into corporate collapse. 1 Introduction Failure in business comes in many forms making continual evaluation beneficial. The cases of the spectacular collapse of both Enron and Northern Rock illustrate two very distinct methods of errant policy. This essay examines and compares the roles of both companies during this period of failure in order to determine the fundamental causes that led each of these companies to ruin. With a focus on the role of fraud, market value accounting, fraud and creative accounting this study will identify and evaluate the underlying causes that have been credited with defining business risk in the modern age. In the end, this essay examines and evaluates the fundamental factors associated with the collapse of Enron and Northern Rock with the stated goal of determining the best methods of avoiding such a scenario in the future. 2 Corporate Collapse2.1 OverviewEnron was once considered a blue chip investment with the inherent capacity to bolster any portfolio during the 1990’s until the collapse of 2001 (Khan, 2011). Once regarded as a premier investment, Enron became associated with a wide range of questionable accounting practice, fraud and insider trading during their term of operations. Over the course of 1990’s, Enron was cited and held up as a pillar of innovation and performance with many institutions attempting to emulate their professed success (Arnold and Lange, 2004). This early idolization of the rising company seems to have increased overall investor interest and expectation. With a platform based on gas and electricity and a long list of associated enterprises including online and investment services utilized by nearly every other energy entity of the period, Enron was the acknowledged leader in the international energy industry (Solomon and Solomon, 2004). With a broad based syst em of investors, there was substantial fallout when the final collapse of the company was announced in 2001, with many in the industry decrying the lack of oversight amid the opportunity for fraud (Khan, 2011). The rise and fall of Enron, even on basic level is a reflection of a company’s ability to build and play upon investors’ expectations, which indicates a willingness on the part of the investors to risk their money in a questionable investment. Northern Rock was once considered a leading voice in the UK banking industry (Marshall et al, 2012). Created as a result of a merger between the North East Building Society and the Northern counties Permanent Building Society and the Rock Building Society, the Northern Rock Building Society was in an ideal position to create and further their own business interests. A key area of concern for investors was the fact that Northern Rock derived its capital from depositors until the deregulation efforts of the 1980’s (Ma rshall et al, 2012). With the relaxation of oversight, it became possible for entities such as Northern Rock to consider and implement alternate solutions for revenue increase that included heavy investment in the stock market and mortgage industry. Complementing the perception of leadership and dedication to the market were statistics that cited Northern Rock as one of the leading mortgage lenders during the period of the early 2000’s (Mclean and Elkind, 2003). With a wish to capitalize as much as possible on the conditions of the growing market, which included the American mortgage market prior to 2008, Northern Rock leadership opted to invest heavily in the subprime market that generated so much profit during this period (Dawley et al, 2012). This argument suggests that the old industry region that was home to the company’s operations had a direct impact on the initial success and eventual failure of the Ban. This initial overview demonstrates that there was a real drive to produce revenue on the part of both of these companies, which in turn fuelled their need to succeed at any cost. In both cases, Enron and Northern Rock began with a legitimate business foundation, yet desired a continual increase in power and revenue which led to poor decisions and policy implementation. In a very real way, this brief illustration suggests that the success factor prompted these companies to act in the selfish and rash manner that brought about their downfall.2.2 Companies2.2.1 EnronThe manner in which leadership creates, endorses and implements a company policy is a critical component to any entities day to day operations (O’Connell, 2004). In this case Enron leadership including Ken Lay, Jeffrey Skilling and Andy Fastow were primarily credited with first leading the company to incredible heights, and then engineering the massive failure due to their own incredible greed. Perhaps a leading indic ator of the manner of leadership Ken Lay found appealing lay in his continual support of the oil trading company headed by Borget that was deemed acceptable as long as there was a profit, regardless of method (Swartz and Watkins, 2003). Organizational culture built on greed and corruption will continue to breed these same elements throughout any organization (Solomon et al, 2004). In this case Enron leadership’s goal of creating a nature gas stock exchange was driven by the desire to increase market share and revenue. In the beginning this form of innovation and aggressive marketing were deemed acceptable, but with subsequent discoveries of accounts including M. Yass, or My ass, created by Borget there was an acknowledgement of corruption (Fox, 2003). Despite Enron initially endorsing Borget and his practices as the scope of the losses mounted, Ken Lay actively denied any wrong doing, taking advantage of the lack of information that he cultivated. The lack of any serious form of financial oversight allowed Enron to create questionable forms of accounting and bookkeeping that extended their perception of propriety (Solomon, 2004). During deregulation effort of the late twentieth century, there was serious contention on the part of the business community that there was a need to reduce regulation in order to benefit the consumer. Leadership at Enron eagerly campaigned on the notion that deregulation would actively increase the capacity for the worker (Swartz et al, 2003). Blaming regulation for higher electricity the lobbyists were largely successful in their drive to remove any meaningful oversight in the industry. This push included a state by state approach that allowed Enron to utilize their regional positions to great advantage, thereby ensuring a smoother experience (Boje et al, 2004). Skilling created concept of an asset lite strategy, or not actually owning the assets, simply bundling and selling the energy, which in tur n provided Enron with a potential method to drastically increase revenue with little to no paper trail (Solomon et al, 2014). The summer of 1998 witnessed a bonanza for Enron as there was a perception of volatility that enabled them to drastically capitalize on the market, leading to the perception that Skilling was a genius (Swartz et al, 2003). During this period following deregulation many of the Enron’s greatest profits were made by employees finding loopholes and exploiting these accounting or business practices to the utmost in order to increase revenue (Arnold and Lange, 2005). Again, this policy of attempting to end run regulation only promotes the false ideal that the company or its employees was smarter than the system. Enron has been credited with employing many questionable accounting techniques during their period of operation in order to bolster expectations (Gordon, 2002). This drive to provide a continuous profit for the company led the leadership to adopt acc ounting practices that did more to obstruct the revelation of negative data in order to maintain profits. A combination of being at the right place in the form of evolving deregulation and belonging to a culture of greed and corruption created the atmosphere that prompted these increasingly poor accounting practices (Macey, 2003). At the heart of Enron’s trouble rests a lack of strong corporate governance and an increasing disregard for public regulation and investor welfare (Vinten, 2002). Beginning with methods that merely bent the rules, the accounting practices at Enron had to become larger in order to account for the burgeoning debt that was being created (Parker, 2005). This form of creative bookkeeping suggests that there was a strong knowledge that operations at the company were not only limited in scope, but there was a need to make as much money as possible at any cost. This form of accounting was illustrated in the Mark to Market accounting expansion that served to misinform investors on accurate valuations, thereby increasing Enron’s value (Shelly, 2011). While essentially legal, the stretching and reinterpretation of the rules allowed Enron to create a wide margin of profit on paper. Further, the use of limited partnership and outside parties increased the level of secrecy and uncertainty that surrounded every Enron valuation process including the Credit Default Swaps and Collateralised Debt Obligations (Swartz et al, 2010). These measures became necessary in order to provide the company with the means to maintain expectations, bonuses and pensions. From the outset, Enron was out to make money (Jennings, 2002). Each innovation was aimed at delivering the most revenue to the leadership, not the investors. Each decision and example of culture illustrates the greed and ambition of those behind the Enron debacle. In the accounting profession a fair presentation is regarded as an accurate representation of a working operation, creative ac counting is identified as flexible practice that best serves the interests of the clients, with fraudulent accounting made up of those that blatantly step outside the law (Buckley, 2011). Enron has displayed an initial fair value accounting method that degenerated into a fraudulent accounting method with evidence that paints a portrait of unrestrained greed, propped up by poor regulation and aided by tacit indulgence of success. There is a clear need to conduct ethical business in order to sustain opportunities (Gill, 2009). This was does not seem to have happened in the case of Enron. This evidence suggests that no matter how Enron had attempted to compensate for poor practice, there could have been no other plausible outcome than failure.2.2.2 Northern RockInitially specialising in residential and commercial mortgages Northern Rock quickly became an industry frontrunner under the leadership of Adam Applegarth in 2001(Marshall et al, 2012). This form of leadership actively profited from the prior methods of operation, utilizing the past profit to invest in the present stock market, primarily the growing sector mortgage securities. Linsley and Slack (2013) argue that prior to 2001 Northern Rock projected a ethic of care, which in turn was cited for the intense feelings of betrayal following the collapse of the Bank. There was a sense that leadership of the Bank was overly ambitious in their efforts to capitalize on their existing assets by putting all of the previous savings at risk (Marshall et al, 2012). This suggests that the clientele of Northern Rock expected their leadership to take greater care and substantially less risk. Three primary points including Northern Rocks previous existence as a building society, the local or regional nature of the bank and the appearance of the Northern Rock Foundation bolstered the perception of a caring institution that was out to serve the populace (Linsley, 2013). With the change in policy brought about by a new leader , there was a palpable sense of anger and disillusionment with both Northern Rock and the direction of their investments. It very much seems as if was this effort from the previous eras, the caring and attentive attitude that served to amplify the negativity as the bank began to crumble under the weight of poor leadership and management. With the onset of the subprime collapse in the United States and the massive international recession that followed, it became impossible for Northern Rock to meet its financial obligations, which in turn prompted the failure of the bank (Linsley et al, 2013). The innovative nature of the investment pattern such as the ‘Together’ investment scenario set out by Northern Rock was a stark departure from the mutualisation process of previous eras (Nesvetailova and Palan, 2013). With the ambitious investment goals set out by Applegarth, it became necessary for the bank to move from the 75% per cent income from depositors to a much more modest 25% with the remaining balance being accounted for by investment and loans (Nesvetailova, 2013). As reflected by consumer discontent with the policy decision, the entire process became disliked and heavily blamed for the eventual run on the bank. The new pattern of investment required Northern Rock to pursue securitization in a fashion that created special purpose vehicles in order to allow these securities to become liquid and thereby tradable (Deegan and Unerman, 2011). This process allowed Northern Rock to obscure their accurate worth by essentially hiding these accounts offshore (Scott, 20 08). With an accounting practice that was creative and innovative at the time, Northern Rock utilized this method in order to expand their projected revenues, thereby further enhancing their operations. In order to continue lending at the bank level, mortgages could be sold, or further funds borrowed on the mortgage securities, which in turn kept Northern Rock liquid initially (Gaffikin, 2008). This culture of greed no matter the cost fuelled the leadership drive to not only continue this practice, but expand it to incorporate up to 50 per cent of the Northern Rock operational platform (Deegan et al, 2011). Depending too heavily on any volatile market has the potential to put any operation at risk at any time (Domhoff, 2013). This evidence suggests that Northern Rock was substantially impacted by the subprime mortgage collapse and the inability to borrow money from the lenders. With a business model that was directly dependant on the interbank lending process, this sudden halt of funding was a severe and crippling blow, only enhanced by the need for the bank to have these funds on hand in order to shore up fading public support. The perception of dismay and lack of trust only increased as Northern Rock found itself undercut by rivals with better loan rates (Deegan et al, 2011). With no ready pool of funding available and no one to purchase the securities, some of which were frozen due to questionable value, the internal situation deteriorated to the point of collapse nearly overnight. Regulation and lack of effective constraints in the financial process has been cited as an element of the Northern Rock collapse (Nesvetailova, 2013). There was a sustained feeling that the explosive pattern of growth quickly overwhelmed any regulation effort, which in turn led to unsatisfactory testing and performance assessments. The caring culture that once benefited operations at Northern Rock was transformed to increased discontent with the announcement of the government bailout, which in turn fuelled the run on the bank (Deegan, et al, 2011). This evidence suggests that it was the very elements of safe investment that had given Northern Rock the opportunity for investment initially and that the prudent course of action would have been to maintain a pattern of considerate investment rather than an all-out bid for industry leadership. With the nationalization of the Northern Rock entity, the government became the only remaining investor, shouldering the substantial loss that had once been a thriving multi-generational company (Deegan et al, 2011). 3 Conclusion Both Enron and Northern Rock exhibited similar and distinctly different traits as this study as illustrated. Each of the companies possessed leadership that was very focused on success and revenue. This culture of greed and ambition served to initially propel both companies into positions of leadership which was demonstrated by their drastic increase in value and recognition during the early phases. While both companies began with fair trade accounting methods, there were driving forces behind each entities operation after that period. Enron began to employ outright fraud in their accounting practices, in some cases going so far as to completely create fictional assets in order to maintain viability. In contrast Northern Rock employed creative accounting methods to legally utilize their existing assets to invest in the subprime mortgage market. While Northern Rocks leadership made poor choices, there was no element of blatant fraud as perpetrated by Enron. There was a distinct organi sational culture gap between Enron and Northern Rock. The ethic of care environment enacted a perception of interest in the consumers of Northern Rock aided the long term business efforts and sustained operations over generations. Enron was focused on profit and the means to increase profit from the point of inception, creating management techniques that encouraged a liberal interpretation of any regulation, placing revenue generation above the need to present a high level of honesty during operation. A similarity that binds both companies together was the leadership intention to use the open market to increase their net assets. Further, there was a directed action by both management institutions to hide the debt from the consumer and investors in order to prop up their image and brand. Once considered pioneering, creative and innovative the combination of deregulation, massive growth and complex rules provided a wide range of opportunities that these companies chose to exploit for their own gain. Each of these entities found itself in the position that required them to borrow money in order to meet expectations. Lacking the means to borrow money was the death knell for both of these enterprises. Northern Rock found itself caught in the subprime mortgage collapse and Enron found itself the focus of scrutiny concerning their assets and true valuation. In the end both Enron and Northern Rock exhibited poor policy decision as well as experiencing bad luck. While there is no guarantee in the business world, large scale deception and fraud will eventually come back to roost. It was the utilization of questionable practice, greed and ambition that served to derail these companies, teaching us all that honesty is indeed the best policy. 4 References Arnold, B. and De Lange, P. 2004. Enron: an examination of agency problems. Critical Perspectives on Accounting, 15 (6), pp. 751–765. Boje, D. M., Rosile, G. A., Durant, R. A. and Luhman, J. T. 2004. Enron spectacles: A critical dramaturgical analysis. Organization Studies, 25 (5), pp. 751–774. Buckley, A. 2011. Financial crisis. Harlow, England: Financial Times Prentice Hall. Dawley, S., Marshall, N., Pike, A., Pollard, J. and Tomaney, J. 2012. Continuity and evolution in an old industrial region: the labour market dynamics of the rise and fall of Northern Rock. Regional Studies, (ahead-of-print), pp. 1–19. Deegan, C. and Unerman, J. 2011. Financial Accounting Theory: European Edition, 2nd Edition, McGraw Hill. New York, NY. Domhoff, G. W. 2013. The myth of liberal ascendancy. Boulder: Paradigm Publishers. Fox, L. 2003. Enron. Hoboken, N.J.: Wiley. Gaffikin, M. 2008. Accounting Theory: Research, Regulation and Accounting Practice, Pearson Education. New York, NY . Gill, M. 2009, Accountant’s Truth: Knowledge and Ethics in the Financial World, Oxford, Oxford University Press. 1(1). Gordon, J. N. 2002. What Enron means for the management and control of the modern business corporation: some initial reflections. The University of Chicago Law Review, 1(1) pp. 1233–1250. Gordon, R. W. 2002. New Role for Lawyers: The Corporate Counselor after Enron, A. Conn. L. Rev., 35 p. 1185. Jennings, M. M. 2002. Primer on Enron: Lessons from a Perfect Storm of Financial Reporting, Corporate Governance and Ethical Culture Failures, A. Cal. WL Rev., 39 p. 163. Khan, M. A. 2011. The Reasons Behind a Corporate Collapse: A Case Study of Enron.Available at SSRN 1923277. Linsley, P. M. and Slack, R. E. 2013. Crisis management and an ethic of care: the case of Northern Rock Bank. Journal of business ethics, 113 (2), pp. 285–295. Macey, J. R. 2003. Efficient capital markets, corporate disclosure, and Enron. Cornell L. Rev., 89 p. 394. Marshall, J. , Pike, A., Pollard, J. S., Tomaney, J., Dawley, S. and Gray, J. 2012. Placing the run on Northern Rock. Journal of Economic Geography, 12 (1), pp. 157–181. Mclean, B. and Elkind, P. 2003. The smartest guys in the room. New York: Portfolio. Nesvetailova, A. and Palan, R. 2013. Minsky in the Shadows Securitization, Ponzi Finance, and the Crisis of Northern Rock. Review of Radical Political Economics, 45 (3), pp. 349–368. O’Connell, B. T. 2004. Enron. Con:â€Å"He that filches from me my good name†¦ makes me poor indeed†. Critical Perspectives on Accounting, 15 (6), pp. 733–749. Parker, L. D. 2005. Corporate governance crisis down under: post-Enron accounting education and research inertia. European Accounting Review, 14 (2), pp. 383–394. Richardson, S. 2011. From the Invisible Hand to CEO Speak: Enron and a Rhetoric of Corporate Collapse. Russell, D. 2013. Critical Studies on Corporate Responsibility, Governance and Sustainability, Vol. 3Business and Sustainability: Concepts Strategies and Changes. International Journal of Law and Management, 55 (1), pp. 74–76. Scott, W. R. 2008 Financial Accounting Theory, 5th Edition, FT Prentice Hall. Solomon, J. and Solomon, A. 2004. Corporate governance and accountability. New York: John Wiley. Swartz, M. and Watkins, S. 2003. Power failure. New York: Doubleday. Vinten, G. 2002. The corporate governance lessons of Enron. Corporate Governance, 2 (4), pp. 4–9.

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