Organizational change: in search of the golden mean

Purpose - The purpose of this paper is to consider an archetypal illustration of change possibilities manifested in a corporation, Enron Corporation, operating within the context of globalmarket capitalism. Design/methodology/approach - The approach taken is a theory guided case study. Findings - It was found that the culture within Enron changed from one grounded in a regulatory ethos to one fully dedicated to unregulated, free marketeering, and illustrates both the best and worst of market capitalism. The character and trajectory of the change was a combination of both internal and external forces, and the ability to recognize and balance the inherent enabling and debilitating dimensions. Originality/value - In this paper, the structuration theory analysis aids focus on the extant norms and values and in seeing how, though the actions of the participants, they construct, and are constructed by, the representation schemes and the power relationships. The analysis of Enron illustrates that change driven by the dominance of unregulated markets can limit the scope of actual, and perceived, ethical alternatives considered by the organizational actors. As such, the perceived options are restricted and any sense of individual or collective responsibility and accountability is dampened.