Ethics is something that is very important to have especially in the business world. Ethics are the unwritten laws or rules defined by human nature; Ethics is something people encounter as children learning the difference between right and wrong. In 2001, Enron was the fifth largest company in the Fortune 500. Enron was also a market leader in energy production, distribution, and trading. However, Enron's unethical accounting practices led the company to joint bankruptcy under Chapter 11. This bankruptcy caused many problems among many individuals. Enron employees and retirees suffer because of the bankruptcy. Wall Street and investors have suffered a severe downturn due to the company's unethical practices. Enron's competitors and the industry were also affected by the bankruptcy. The US economy suffered a sudden recession for the worse, due precisely to the unethical behavior of this company. Employees Ethical decisions are guided by the individual's underlying values. “Values ​​are principles of conduct such as caring, honesty, keeping promises, striving for excellence, loyalty, fairness, integrity, respect for others and responsible citizenship” (Bateman, 2004). Numerous employees lost their jobs and pension funds due to Enron's bankruptcy. While top executives cashed in their stock options, knowing the company would collapse, employees and shareholders would be the ones who would take the biggest hit. One of Enron's principles was to offer its employees fair compensation through wages and other benefits; however things didn't go that way. While executives were selling their stock options, employees were losing money in their 401K policies as most employees...... middle of paper......volume (9), p. 29. Retrieved September 20, 2005, from the Proquest database. Enron's missed opportunities. Retrieved September 19, 2005, from http://brie.berkeley.edu/~briewww/publications/WP152.pdfFlood, M. (2005, April 26). The fall of Enron. Houston Chronicle. Retrieved September 19, 2005, from http://www.chron.com/cs/CDA/ssistory.mpl/special/enron/broadband/3153199Kadlec, Daniel. (2002, January 13) Enron: Who's Responsible? Retrieved September 23, 2005, from http://www.time.com/time/business/article/0,8599,193520,00.htmlLashinsky, A. (2001, July 13) Enron's Dot-Com Bubble Finally Bursts. The Street. Retrieved September 19, 2005, from http://www.thestreet.com/comment/siliconstreet/1489696.html Malveaux, J., (2002). Enron serves as a wake-up call. Retrieved September 20, 2005, from http://www.usatoday.com/news/opinion/2002/01/25/ncguest1.htm