Enron as an Internet Company
Before 1990 Enron was a rather ordinary company selling natural gas. At that time Enron Chairman Kenneth Lay brought in McKinsey and Company to study the firm's prospects. McKinsey recommended that Enron move into financial products and services, and over time Enron became an energy trader using modern information technology to build markets. McKinsey partner Jeffrey K. Skilling joined Enron and later became its CEO.
Along with its shift to energy trading, Enron announced that it was also adopting a more highly delegated management system—a nontraditional, flatter organization in which people were paid substantial sums via bonuses and stock options. Thus Enron not only claimed to be a new economy company by virtue ...
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