Reference no: EM132864883

In examining the moral responsibility the moral responsibility there is the obligation not to harm. If pollution causes harm, then a corporation is morally obligated not to pollute. This obligation exists whether or not a society explicitly demands it. But this obligation may also be expressed as a social demand, either through law or public pressure of various kinds. Morality may not specify how a company has to control and prevent harm it might do, whereas a society may be explicit in this regard. Society may also demand more than morality does. Hence, although they often overlap, it is possible and useful to distinguish the legal obligations of a corporation from what has been called its "social obligations".

The Enron Case has become a standard study of a business failure for many reasons. It had repercussions around the world, in part because Enron was the seventh largest corporation in the United States, in part because the accounting firm of Arthur Andersen as well as the financial institutions of J.P. Morgan, Citigroup, and Merrill Lynch were also involved in its questionable maneuvers, and in part because its demise was so swift. Several aspects of the Enron case are noteworthy. One is that some of the financial instruments used by Enron were not explicitly illegal, even though they resulted in misrepresentation and were unethical.

Summarize the main points of the Enron case.