Day 26_MBA Journey_Speech of Andrew Fastow

We can be aware the line between legal and illegal matters, but how can we all be aware whether our behavior or decision is ethical or unethical? Former Enron CFO, Andrew Fastow shared with us his experiences and insightful perspective to teach us not to mislead decision making.

In policy, rules or law there is always a “Loop hall” that people can derive from. 
It is quite a risk that you can’t be cautious when you are in grey zone. 

The real problem in Enron was cultural failure as the company where everyone had mindset that people can do whatever to achieve to goals unless they can be explained within a policy or law. 

"Ethics is knowing the difference between what is right to do and what you have the right to do"
Justice Potter Stewart

"There’s never just one cockroach in the kitchen"
Warren Buffett discussion Welles Fargo

Message from Andrew:
To avoid behaving unethical behavior or decision as an individual 

1. Be self aware that you are taking unethical decision/Be aware you are in grey area
2. Price a risk
 

To avoid behaving unethical behavior or decision as a company

1. Have someone speaks against every argument we make within a company to always question our behavior and decision.