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Business

Two Lessons To Take From the Enron Debacle

Just about everyone was fooled by the company’s shiny, polished exterior. But with the business now in ruins, a few points are worth noting. Just over a year ago, I had breakfast with Jeff Skilling, president and CEO-designate of Enron (ENE). The occasion was a Fortune magazine conference celebrating America’s most admired companies. Enron was ranked high on that list, and Skilling had come to share some of the company’s secrets for managing people. What a
Business

The New Economics of Security

It costs money and time to protect your company right now. Look for unconventional solutions to the problems. Last week I was in Caracas, Venezuela, at a conference on knowledge management run by PDVESA, a Venezuelan oil company. The petroleum industry is one of the biggest beneficiaries of knowledge management. It has a lot of highly technical expertise, many expensive, complicated machines and processes, and extraordinary geographical reach. Because Murphy’s Law is internationally enforceable, you can
Business

Knowledge Management & Learning From the Future

At long last, business is no longer ignoring the past. But the real challenge for managers is learning from what is yet to come. Those who cannot remember the past are condemned to repeat it, George Santayana said, and he was right. Henry Ford, on the other hand, said, “History is bunk,” and Ford was the better businessman. Most companies act according to Ford’s (F) pronouncement. They change cultural icons — as Carly Fiorina did at
Business People

Right Now, the Only Capital That Matters Is Social Capital

Working for others — instead of merely for oneself — is what keeps employees motivated in the wake of tragedy. Randy Scott’s home phone rang at about 6 a.m. on Tuesday, Sept. 11. His parents wanted to know if he was home in the San Francisco Bay Area or on the road, as he often is. They told him what was happening in New York, and he turned on the television. “I just stood there and
Business

The Outernet Is Coming

Screens, screens everywhere- and not a moment to think! Just when the space for billboards seemed to be exhausted, small-screen technology has opened up a whole new vista of marketing terrain. Got a car? You can be pitched at the pump. Hold season tickets to your favorite sports team? Get ready for seatback commercials. Use an ATM or work out at a gym? Well, you get the message-and you’ll be getting a lot more of them,
Business News

How to Hold Corporate Accounting Accountable

Tighter regulation needed to curb questionable practices. The ongoing Securities and Exchange Commission (SEC) investigation of possible deceptive use of pro forma financial results by several companies should inspire little more than a sigh. Frankly, companies should be honest enough with themselves and their shareholders so the SEC isn’t forced to do all this baby-sitting. Fat chance. Pro forma started as a method that companies used in addition to Generally Accepted Accounting Principals (GAAP) to report
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