"I don't know technology and engineering. I don't know accounting"
- Bernie Ebbers
About this Quote
This quote by Bernie Ebbers reflects his absence of expertise in the areas of modern technology, design, as well as bookkeeping. This is considerable because Ebbers was the previous CEO of WorldCom, a telecommunications firm. His absence of understanding in these locations indicates that he was not fully equipped to lead a technology-based firm. This can discuss why WorldCom ultimately applied for insolvency in 2002 as a result of accounting scams. Ebbers' absence of understanding in these locations might have been a contributing factor to the business's downfall. It is necessary for leaders of technology-based companies to have a strong understanding of the technology and engineering that enters into their products, as well as the accounting methods that are needed to ensure the company's monetary security. Ebbers' quote acts as a pointer of the significance of having a solid understanding of the various facets of running a technology-based company.
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