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RUNNING HEAD: SUMMARY
A Summary and analysis of Nortel Networks Management System
30th March, 2011.
I started working 100 hours every week to change a company that was struggling financially struggling company as the CEO at Nortel Networks, thinking it should be doing better since its products like network and CDMA Icode division multiple access are used everywhere by companies providing internet and cell phone services. I underestimated the magnitude of the problems and made a mistake of comparing it to GE and Motorola where I worked successfully previously.
My problem started when the management over reported earnings to produce corporate bonuses. I had thought that Nortel had corrected its financial reporting, but realized they had made the same error for the third time and had to make another report earning less profit. This brought the lawsuits against the company by shareholders who saw the Nortel stock value lose $30 billion and sought $9 billion for damages. I had to be sorry for this mistake and promise chan.............
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