Importance of Human Resource Management Essay - 1177 Words

Human resource is the most valuable asset of an organisation as it is the source of operational performance and competitive advantage in an organisation. An asset, by definition, is a useful or valuable thing or person. An organisation comprises of three types of assets, namely; financial assets, physical assets (infrastructure and equipment), intangible assets. Intangible assets include intellectual capital (patents, copyrights and trademarks), social capital and human capital. The creative thinking potential of an organisation’s current employees (Bolton, 1996), is the organisation’s most valuable asset, as people are the driving force within companies seeking to differentiate themselves in these competitive markets. Business in the†¦show more content†¦Human capital is the most abundant, adaptive and accessible resource, making it cost-effective and efficient for organisations to survive and prosper in the process of globalisation, international competition and technology (Sondhi and Nirmal, 2013). Therefore, the most distinguishing asset necessary to an organisation for bringing new and improved offerings to the marketplace and increasing productivity, is human capital. Innovation demands a robust human capital that is fully engaged, thoroughly developed and skillfully deployed (Serino, 2013). The human resource function plays a critical role in an effective human capital as an organisational strategic asset. By aligning the human resource function with business strategies, the ability to execute strategy well is a source of competitive advantage and people are the lynchpin of strategy execution (Becker, 2001). Strategic human resource management consists of the coordination of various human resource management practices, such as HR planning, recruitment, selection, training and development, compensation and performance management. To streamline and organise these practices to leverage on a strong human capital, emphasis on well-thought human capital development plan is crucial. To quote Serino (2013): Comprehensive human capital development integrates three essential elements: †¢ Talent Optimization †¢ Learning Agility †¢ Innovation Capabilities Talent optimisation is achievedShow MoreRelatedThe Importance of Human Resources Management1233 Words   |  5 PagesThe economic environment in nowadays dynamic, it is fairly important for organisations and managers to recognise the curtail of Human Resource Management. It is clear that Human Resource Management (HRM) has become one of the most recommend management strategy in the modern business (Leopold and Harris, 2009). Human Resource Management is a technique process of managing people in the workplace to enable and enhance organization performance (Leopold and Harris, 2009). This theory involved the responsibleRead MoreHuman Resource Management And Its Importance1517 Words   |  7 PagesIntroduction In the 21st century, human society has undergone tremendous changes, it began to change from the industrial economy to a knowledge economy era. Economic globalization and improve the level of global competition, organizations have had to make full use of all their resources to ensure its survival and development. As an important resource organization human resource organization also attracted more and more attention. Effective human resource management has become a key organizational developmentRead MoreThe Importance of Human Resources Management670 Words   |  3 PagesHuman Resources Management Human Resources Management is a significant and very large area of business. It came about through the need to focus on what people were doing with their lives in the workplace that was not specifically related to actual work. In other words, there is more to the workday than the work that is being done, and people who work closely with one another can and should get along. Rules and regulations to facilitate this were needed, and had to be created on the individualRead MoreThe Importance of Human Resource Management1287 Words   |  6 PagesHuman resource management (HRM) is undoubtedly being considered as an indivisible element of the organisations from the outset. From recruitment to employee retention, HRM has always committed to assist company to search and retain talents that have values toward the sustainable development. In view of the fact that, there are several studies with evidences presented to prove that there is a relationship between HRM and organizational performan ce, in which some HRM theorists also suggested that thereRead MoreRoles And Importance Of Human Resource Management Essay1693 Words   |  7 PagesAnswer1. Roles and Importance of Human Resource Management Human Resource Management is the procedure of requirement, selection, giving orientation , making giving trainings to employees and the creating skills, appraisal of worker , giving remuneration and advantages, benefits, providing motivation, keeping up workers security, welfare and wellbeing by following work laws of concern state or nation. Human Resource Management is the procedure of usage of accessible restricted talented workforceRead MoreThe Importance of Human Resource Management Essay1439 Words   |  6 PagesArmstrong (2006) defined Human Resource Management as a strategic deployment of an organisations most valued assets; the people working there, who individually and collectively contribute to the achievements and the objectives of the business. Links between HRM and performance are predominantly focused on the following practices: sophisticated selection and recruitment methods, training, teamwork, performance-related pay and employment security (Wall, Wood, 2005). Pro ducts can be copied, methodsRead MoreThe Importance Of Human Resource Management Within The Business1738 Words   |  7 Pages The Importance of Human Resources in Small Business Derrick Rowley Business 224 Dennis Oden 7 June 2015 â€Æ' Abstract Within this paper you will find that HR is vital to all businesses, but can greatly affect the long-term success of a small business. Small businesses can have a difficult time finding qualified individuals to help with the production side of the business. That is why having human resource management within the business is so important. HR sets the planning process and withinRead MoreThe Importance Of Human Resource Management For Any Organization1495 Words   |  6 PagesINTRODUCTION This report provides the understanding and importance of Human Resource Management for any organisation. The report shows how HRM contributes in any organisational achievements. In this report HR planning and development methods are examined in detail and the way to improve HR performance are suggested. COMPANY BACKGROUND The Coca-Cola Company is one of the world’s top soft drink makers. Coca-Cola owns the best-known soft drink brands such as, Coca-cola, Diet Coke, Fanta and SpriteRead MoreHuman Resource Management and Its Importance to Businesses Today2964 Words   |  12 PagesRhonda S. Culvahouse Human Resource Management and Its Importance to Businesses Today MGT 445 Human Resource Management Professor Robert Borger June 4, 2009 Human Resource Management and Its Importance to Businesses Today Introduction In order to understand what Human Resource Management is, one must understand what a resource is. Resources are assets that one has access to, and therefore, can rely on. In our own personal lives we rely on resources of various types such as our money, ourRead MoreHuman Resources Management Importance, Benefits And Effects Of The Organization918 Words   |  4 PagesSUBJECT: Human Resources Management Importance, Benefits and Effects in the Organization. 1. Purpose: The purpose of this memorandum is to outline and defend the benefits of having a Human Resources Management (HRM) in Green’s Hospitals. Green’s Hospital is a leading medical facility that is facing some human capital challenges. A Human Resources Department will help the stake holders and the board of direct 2. HRM practices can help the hospital to deal with the competition in the following

Analyzing the Film Food Inc and the Propaganda Message for...

Society tends to associate propaganda films with issues such as Nazi Germany and their film messages for their country; however, it is also possible for small independent companies, groups of like-minded people and individuals to use the media of film to incorporate messages for our society (The Independent, 2010). These messages are often in relation to changes that individuals should make in order to improve the standards by which they live their lives and changes to everyday habits that will benefit the individual, the individual’s family, a group of individuals or even a single person (Barnhisel and Turner, 2010). Food Inc. is a documentary displaying the United States food industry in a negative light by revealing the inhumane, eye†¦show more content†¦Today’s society is faced with a plethora of media appealing to their emotional state by advertising the basic human need, to eat. The images that we see each and every day of our lives appear in media such as, magazines, billboards, television, during movies, and on the internet. These images are artfully recorded as film or photographs in such an advanced way that they tempt and tease our senses, inviting us to purchase and eat such a wonderful product (Cyberpat.com, 2013). Our senses are bombarded with messages constantly and are extremely sensitive to the messages they receive. The sense of sight and sense of smell are particularly sensitive and have a special connection with the processing of messages that affect the emotions Croy, Schirato and Webb, 2004). This is often referred to as The Hedonic Experiential Model. It is r efers to the way consumers process information based on the concept that purchasing decision may be spur of the moment or irrational. This model reflects the emotions of the consumer, which more than likely, have been influenced by advertising or visual propaganda. (Clow) It is with little wonder that advertising or mass media propaganda, are expressed utilising the senses, and in particular, the sense of sight (Alden and Steenkamp et al., 1999). One of the most heavily marketed product categories is food (Cairns) and commercial television is one of the largest influences on the foods thatShow MoreRelatedThe Walt Disney Company Report15335 Words   |  62 Pageshas never looked back, it has constantly and steadily growing only to takeover more renowned production powerhouses like Marvel and Lucasfilms. This expansion is not limited to film industry, Disney is spreading its wings to Shanghai, China to open its new and largest Disney Land. While it continues to quietly absorb the film giant UTV motion pictures of India. What numbers and these big acquisitions fail to portray is the creativity that goes into creating magic on screen, fantasy on earth andRead MoreShort Cases19708 Words   |  79 Pages. . . . . . . . . . . . . . . 3 3. THE ARDEN COMPANY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4. UNIPRO INC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 5. HAUSSER FOOD PRODUCTS COMPANY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6. MANAGING MARKETING IN THE 21ST CENTURY . . . . . . . . . . . . . . . .Read MoreWomen Before and After the Pahlavi Period in Iran5501 Words   |  23 Pagesliving crisis, despite the tremendous oil riches in Iran. English and Russian oil companies controlled Iran’s sources of oil and the people were left with crumbs of food while the king and his close circle were getting ri cher and richer. The first Pahlavi period- Reza Shah The first era of the Pahlavi period was known to be an era of change and alteration when drastic measures were taken by Reza shah in order to satisfy his vision of modernization and remove all religion that acted as a barrier toRead MoreEssay about Summary of History of Graphic Design by Meggs14945 Words   |  60 Pagescuneiform were replaced by 20 or 30 easily learned signs. - The creation of the alphabet may have been an act of geography. - The oldest known examples of the Early or Old Hebrew alphabet date from around 1000BC. - The design of Arabic letters changes with the position within a word. - After the Latin alphabet, Arabic is the most widely used alphabet today. - The Aramaic alphabet is believed to be the predecessor of the scripts used in India. - The Greeks adopted the left-to-right reading patternRead MoreMarketing Management130471 Words   |  522 Pagescould and often does impact decisions in other areas. For instance, a change in the price of a product (e.g., lowering the price) could impact the distribution area (e.g., increases shipments, generates higher traffic). Additionally, options within the toolkit are affected by factors that are not controlled by the marketer. These factors include economic conditions, legal issues, technological developments, social/cultural changes, and many more. While not controllable, these external factors mustRead MoreProject Management Infomaton System48477 Words   |  194 PagesThe management of our information assets is essential to the long-term survival of our organization. In the knowledge era, organizations will be measured by how they are able to tap this vast resource, our organization’s ability to learn, adapt, and change will become a core competency. We also need to develop an understanding that knowledge resides in a complex and ever changing environment, this ever changing environment makes it more compelling to improve the way we capture, share and use informationRead MoreLogical Reasoning189930 Words   |  760 Pages1993 with ISBN number 0-534-17688-7. When Wadsworth decided no longer to print the book, they returned their publishing rights to the original author, Bradley Dowden. The current version has been significantly revised. If you would like to suggest changes to the text, the author would appreciate your writing to him at dowden@csus.edu. iv Praise Comments on the earlier 1993 edition, published by Wadsworth Publishing Company, which is owned by Cengage Learning: There is a great deal of coherenceRead MoreStrategic Marketing Management337596 Words   |  1351 PagesFactors influencing consumer behaviour The buying decision process The rise of the new consumer and the implications for marketing planning Organizational buying behaviour The growth of relationship marketing Summary Appendix: The drivers of consumer change 6 Approaches to competitor analysis 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 6.9 6.10 6.11 Learning objectives Introduction Against whom are we competing? Identifying and evaluating competitors’ strengths and weaknesses Evaluating competitive relationshipsRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesthe great majority of both international and domestic immigrants in the modern era, and that in 2005 became the place of residence for the majority of the world’s human population for the first time in history. He gives considerable attention to changes in city planning, patterns of urban growth, and important differences between industrialized Europe and North America and the developing world, as well as the contrasts in urban design and living conditions between different sorts of political

Ethical Principles for Research with Human - myassignmenthelp

Question: Discuss about theEthical Principles for Research with Human Subjects. Answer: Ethical principles comprise of a set of regulations that govern the general conduct of individuals both in general behavior or at the work place. This discussion will be centered on various circumstances which have been provided and an analysis can be done to determine whether ethical standards were violated or not. The types of scenarios that have been presented are anchored on the professional field of accounting. The first scenario describes an auditor of a firm who has been selected to be the treasurer of a firm. The treasurer does not execute the mandate upon an athletic club in his capacity as an auditor. This implies that the auditor is out to conceal information concerning the company accounts so that he can benefit from that venture. The ethical principle that was violated is the one which states that any employee should not be engaged in any other activities or forms of employment that are in conflict with their main duty. Another principle that Amy violates is that his company is treating a private institution preferentially. (Childress 2015, p. 334-345) In the second case, there are two institutions where one is an auditing firm. Apparently the auditing firm which is Gordon Accountants has discharged its duty of verifying the accounts of Simtec Limited within the appropriate time that was allocated. It is not clear whether there was an initial agreement by the firms to pay the dues in the stipulated timelines. If there was such an agreement, then it would be unethical for Simtec Company to withhold the payment until Gordon Accountants submit their report. On the other hand it would be a gross violation for the audit firm to demand for payment before completing its duty (Gill 2013, p. 89-100). The ethical principle that guides this case is that all employees should always give ethical principles and the law the fidelity that they deserve against the individual gains that the companies wish to derive from such duties. Besides, there is another principle which reinforces the fact that the company employees should not put their financia l gains ahead of the execution of duty in a conscious manner. (Howie 2012, p. 87-90) Lastly, there is a case of an accountant by the name David Dale. He has been asked by an insurance firm known as Cheap Insurance Company to provide clients for the latter. In this case, there is no form of violation of the ethical principles. Insurance is a virtue that should be encouraged by the firms to safeguard the lives of their employees. If the accountant has clients that do not have policies yet, there is no wrong in linking them to a firm that can provide the services. In the issue of commissions, the accountant is entitled to it because he has contributed towards the business prospects of the insurance firm. Ideally, the commissions would only be a payment to appreciate such efforts. Given that the insurance firm would get some revenue from the clients, it is only prudent that the company shares part of it with the contributors to their business. (Zsolnai 2011, 54-55) References Childress, J. F. (2015). Belmont revisited: Ethical principles for research with human subjects. Washington, D.C: Georgetown Univ. Press. 67(7), 334-345 Gill, D. W. (2013). Doing Right: Practicing Ethical Principles. Westmont: InterVarsity Press. 78(43), 89-100 Howie, J. (2012). Ethical principles and practice. Carbondale: Southern Illinois University Press. 32(9), 87-90 Zsolnai, L. (2011). Ethical principles and economic transformation-- a Buddhist approach. Dordrecht: Springer. 13(34), 54-55

Subtext of A perfect day for a bananafish Essay Example

Subtext of A perfect day for a bananafish Paper Jerome David Salinger is a character who has made himself one with many idiosyncrasies. He has vast and varied; ideas, thought and beliefs throughout his short stories and novels. These ideas have been weaved; cleverly into the short story that is, A perfect day for a Bananafish. These thoughts which are shrouded in darkness and secrecy in the text make short appearances (as did Salingers life), and can be seen most clearly on line one, page eleven represents soldiers of war that are sent into the frontline. They swim into a hole where there are lots of bananas. Bananas may be used by Salinger to depict the shape of a gun, and as we know from the short story Seymour took part in the war and came back a different man. But once they get in they behave like pigs. I believe this is a taunt to the soldiers, who once at war undergo a psychological change in which they behave more than inhuman as they go around killing one another, people whom they have never been acquainted with. These people or also in fact animals, may have families and friends back home praying that they make it home safe. We will write a custom essay sample on Subtext of A perfect day for a bananafish specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Subtext of A perfect day for a bananafish specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Subtext of A perfect day for a bananafish specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Later it is stated by Seymour that once the bananafish enter the hole and eat so many bananas that they die, and when question, Why. He responds by saying, Well they get banana fever. Its a terrible disease. I believe this is a representation of post-war-syndrome or perhaps shell-shock. Two very major stages that many soldiers of war encountered. This is the so called disease that the bananafish acquire over their time in the hole. Let us ponder for a moment this idea of a bananafish. When we think of something being bananas we believe it to be mad. This is just as Seymour is thought to be mad or bananas as one might ironically suggest. Salinger also attempts to symbolise that the bananas in Seymours story represent all of the things which are taken in along the journey to adulthood. This is as seen in Teddy, whom stated the idea of an apple instead of a banana, it is said, You know that apple Adam ate in the Garden of Eden, referred to in the Bible? he asked. You know what was in that apple? Logic. Logic and intellectual stuff. That was all that was in it. So this is my point what you have to do is vomit it up if you want to see things as they really are. This quote shows if pursued with too much zeal, these bananas (or apples), can prevent spiritual development. Seymour has realised that the release from the body is actually a spiritual victory and not defeat and thus decides to commit suicide following this greater spirituality in which as Teddy suggested objects can be seen for what they are and not just names that have been designated to them. The symbolism of the fruit, spirituality and Seymour are also quite closely related. This is as a banana is a tropical fruit. Mainly eaten in countries where it doesnt grow, so it doesnt really belong there. Just as Seymours soul does not really seem to belong to his body and thus wishes to return back to its home. This brings me upon my next point in which it is clearly visible from Teddys paragraph the reason behind the choice of the name Seymour. What you have to do is vomit it up if you want to see things as they really are. This is something that Seymour, or should I say See-more, is more than capable of doing. See-more does exactly as his name suggests. He has followed Teddys deeper understanding of spirituality and can in fact see things for what they are. This is why Sybil is a friend that Seymour endears very much as she has not yet took a bite from this apple of logic or eaten the bananas from a hole as a bananafish. Sybils innocence may also be her path to spiritualism as she sees this ability in Seymour and is actually the one who calls Seymour by the name See-more repeatedly, and maybe then it is why there is such a good relationship between the two. Even though he has found a partner in Sybil spiritually, he is most definitely spiritually and intellectually alienated from his partner Muriel, whose name even assonates the sound of material, only dreams of her superficial, and has no thoughts whatsoever on her spiritual being. This may also be why he decides to achieve a spiritual victory by committing suicide in this Hindu/Buddhist manner of spirituality, In which the soul is at rest when absent from the body. I wish to conclude by going back from the idea of spiritualism to its descendant materialism. It is also most easily conceived that the bananafish from the short story are also a representation of American consumerism. The thought of the more, more, more effect as seen by the bananafish, adding to this materialistic endemic caused by these bananas and apples of logic add to the materialistic world with every bite. Jerome David Salinger attempts as does Teddy to make everyone realise this and try and vomit up this logic that seems to replace our innocence that we are gifted as children. Having, no care in the world this is my individual idealistic view on spiritualism. Salinger tries to revive the spiritual side of the readers life through this short story and many others. Spirituality in my view is most definitely the subtext to all of Salingers writings.

How to Style Titles of Compositions

How to Style Titles of Compositions How to Style Titles of Compositions How to Style Titles of Compositions By Mark Nichol Navigating the formatting rules about titles of compositions books and chapters, movies and TV shows, albums and songs, and the like can seem like negotiating a minefield. Here’s a handy map to help you maneuver through the terrain: In print, two primary formats exist for identifying a creative work. Titles of entire bodies of work such as a book, a TV series, or an album are often italicized, while titles for components of each book chapters, TV episodes, or songs are usually enclosed in quotation marks. Easy enough, but what about creations such as paintings and poems? A painting is a discrete work, but it is also often displayed as part of an exhibition. What do you do? In this case, italicize the painting’s title but style the title of the exhibition in roman, or ordinary, type. (However, single ancient works of art, such as the Venus de Milo, are simply styled in roman.) As for short poems collected in an anthology, style their titles like those of book chapters, but italicize the titles of book-length poems. Photographs are considered elements of a larger work, such as a book or an exhibition, and their titles are simply enclosed in quotation marks. And what about capitalization? Generally, in a title, always capitalize the first and last words regardless of part of speech, plus nouns, pronouns, verbs, adjectives, adverbs, and long conjunctions (those other than and, but, for, nor, and or.) Lowercase prepositions (over, under, through, etc.) unless they are key to the title (A Walk Through Time) or as part of an adverbial or adjectival phrase (Turn Up the Volume). The initial definite or indefinite article in a title can be preempted by a nonitalicized article if it conflicts with the sentence structure. For example, write â€Å"The Wizard of Oz audio book is a best-seller.† But if this style looks awkward, just relax the sentence: â€Å"The audio-book version of The Wizard of Oz is a best-seller.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Style category, check our popular posts, or choose a related post below:50 Synonyms for â€Å"Leader†Expanded and ExtendedStarting a Business Letter with Dear Mr.

Adulthood essays

Adulthood essays The passage from teenager to adulthood is one of the most complicated and confusing processes an adolescent can experience. It is especially confusing since the teenager is not totally sure what it means to be an adult, and how he/she is supposed to achieve this level of maturity. If one doesnt know what it means to be an adult, its much harder to attain this maturity since it is unknown to him/her how to reach this point. However, there are many speculations and opinions about what it means to be an adult and what one must accomplish in order to reach this point. So how is a measly little teenager supposed to know when adulthood is reached? There are certain things a teenager must understand before the age of adulthood is reached. This understanding is what brings a child into adulthood, not age or size. Many associate adulthood and maturity with the age or even the size of a person. This however is inaccurate. Age only matters to a point. Once the child is out of the age of innocence, and knows the difference between right and wrong, he/she gets a chance to be responsible, and make a decision that is either right or wrong. Ill use fourteen-year-olds as an example. The majority of fourteen- year-olds will not make the right decision all of the time. From this we know that if the teenager does not make the right decision in a time that an adult would, than this teenager is not yet mature enough to be considered an adult. But if even one fourteen-year-old is mature enough to be an adult, that than it is evident age does not matter. It is simply what the kid has been taught. Most fourteen-year- olds have not been taught how to act like an adult or what to do in adult situations, the same way that we associate maturity to be evident in larger people because adults tend to be larger than kids. Therefor we automatically th ...

Enron Scandal Case study Essay Example | Topics and Well Written Essays - 1250 words

Enron Scandal Case study - Essay Example Basically those businesses prosper that have implemented systems to enhance the faith of the shareholders via transparency, responsibility and fairness (Raghavan, 2010). Carrying out of ethical business conduct would mean accepting and practicing sound corporate governance. The role of auditors is also vital in bringing good corporate governance (Fan & Wong, 2001). The main objective of the study is to identify the facts that led Enron to financial scandal and brought up to the surface a culture of corruption as well as greed. The role of the auditors and the corporate governance in such context will also be studied in adequate detail. The study will try to focus upon the main actor involved in the Enron case, the role of the organisation, the legal context and the prevention strategies that could have been followed in order to stop such fraudulent activities from taking place. Enron Case Enron is one of the best examples of unethical business practices conducted in an organisational context. It had been the seventh biggest business house in the United States. It dealt with ‘natural gas pipeline’ and was based in Houston. It filed for bankruptcy in the year 2001. The company was charged with security related frauds. It was noted that the employees and retirement accounts lost hundreds of millions of Dollars, when the stock price of Enron dropped from its height of US$105 to few cents and subsequently the company was de-listed by NASDAQ (Healy & Papelu, 2003). The company made use of complex and dubious accounting schemes in order to minimise its tax payments, to increase its income and profits, to increase its stock price and credit rating, to conceal losses in ‘off-balance-sheet subsidiaries’ and to falsely manipulate Enron’s financial condition in public reports (Munzig, 2003). In addition to hurting the confidence of the investors and generating questions regarding the continuity of a deregulated energy market, the crumple of Enron has hurried a complete re-examination of both the accounting industry as well as many other components of the corporate governance in America (Dembinski & et. al., 2006). It was noted that the company violated accounting standards that necessitated at least three percent of the company’s assets to be possessed by independent equity investors. By violating this requirement, the company was capable to evade the merging of these ‘special purpose entities’. Due to these, the balance sheets of Enron devalued its liabilities and exaggerated its equity and earnings. The company focused on minimum disclosure in relation to special purpose entities (Munzig, 2003). Role of Auditors in Enron’s Case The most significant question surrounding the Enron’s case is that how the Enron’s problem could remain hidden for such a long time. Most of the accusations for failing to realise Enron’s problem has been consigned to the auditor of the company, Arthur Andersen and to the ‘sell-side’ forecasters whose main duty was to work for brokerage, research firms and investment banking (Munzig, 2003). Role of External Auditors The external auditor of Enron, Arthur Andersen was blamed for practicing lax standards in their audits due to conflict of interest over consulting fees that was created by