Enron's journey is a true phenomenon: from regional pipeline trader to the world's largest energy trader, then back down the hill to bankruptcy and misfortune. As a matter of fact, it took Enron 16 years to go from about $10 billion in assets to $65 billion in assets, and 24 days to go bankrupt. Enron is also one of the most famous cases of corporate ethics of the century. There are so many things that have gone wrong within the organization, from all personal (prescriptive and psychological approaches), managerial (group norms, reward system, etc.), and organizational (world-class culture) perspectives. This article will focus on the corporate ethics issues in Enron that were raised by the documentation Enron: The Smartest Guys in the Room, from cognitive moral development to group norms, etc. Overview of the Enron Scandal The Enron scandal was a financial scandal involving Enron Corporation and its Arthur Andersen accounting firms, which was revealed in late 2001. Many of Enron's reported assets and profits were inflated, or even fraudulent and non-existent. Debts and losses were attributed to entities formed "offshore" that were not included in the company's financial statements, and other sophisticated and hidden financial transactions between Enron and related companies were used to eliminate unprofitable entities from the company's books. This practice caused their stock price to rise to new heights, at which point executives began working on inside information and trading millions of dollars worth of Enron stock. Enron executives and insiders knew about the offshore accounts that hid the company's losses; however, investors knew nothing about it. When the scandal came to light, Enron stock plummeted from over $90 to less... half the paper... didn't pay attention to employees because most directors in the US don't feel it's their responsibility. They consider themselves representatives only of the shareholders and not of the employees. But in this case they did not even represent the shareholders and especially the employee shareholders well. They were the ones who could make decisions, but they put too much trust in the management team and didn't catch their employees doing the right or wrong things in time. Conclusion The Enron scandal is the most significant corporate collapse in the United States in a century. This scandal demonstrates the need for significant reforms in accounting and corporate governance in the United States, as well as a careful look at the ethical quality of business culture in general and business corporations in the United States.