<![CDATA[Abstract. This study examines the collapse of Enron Corporation through the lens of agency theory, highlighting its implications for corporate governance and modern management practices. Enron’s downfall, once considered one of the largest corporate scandals in history, was rooted in severe agency problems where managers prioritized personal gain over shareholders’ and stakeholders’ interests. Using a qualitative case study approach, this paper analyzes how weak internal controls, lack of transparency, and excessive risk-taking reflected the classic conflict between principals and agents. The findings reveal that the failure of Enron was not merely a financial scandal but a managerial failure that underscores the importance of ethical leadership, accountability, and effective governance mechanisms. The study contributes to management literature by offering critical lessons for corporations in emerging and developed markets on the necessity of strengthening governance structures, aligning managerial incentives with organizational goals, and promoting a culture of integrity. These insights are especially relevant for human resource management and leadership development, as fostering ethical values and responsible decision-making remain central to sustainable business success. ]]>
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