rephrase paragraph 1. The executives at Nortel have been portrayed as "good people" in a "bad culture." However, it is important to note that senior management knowingly manipulated the company's financial performance, and it was their responsibility to ensure the accuracy of the financial statements. This misconduct ultimately led to the downfall of Nortel. It is crucial to hold senior management accountable for their actions. 2. Stakeholders, including employees and pensioners, should have legal recourse to hold top management responsible for decisions that cause a company's failure. Such decisions may result in significant losses for the company and its stakeholders. Having a mechanism in place to recover those losses or to hold individuals accountable for their actions is essential. This can be achieved through legal action, which provides a means for stakeholders to seek justice for the harm caused to them. 3. To minimize the probability of senior management taking on excessive risk, an alternative executive compensation strategy could be implemented. For instance, a compensation plan that emphasizes long-term performance over short-term revenue gains could motivate management to focus on sustainable growth strategies and avoid financial irregularities that led to Nortel's collapse. Aligning compensation with long-term performance would encourage management