Following the Rules in Business is Not Always the Right Thing

A business strategy can be technically correct and strategically catastrophic. That is what six years in prison taught Andy Fastow. The former chief financial officer of Enron had time to think about how a well-brought up young man came to be convicted for one of the largest frauds in history. His main reflection today is that he should have gone beyond listening to technical experts to consider how every business decision has effects over and above its immediate aim.