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Essay / Research Paper Abstract
6 page paper discussing issues of legality, ethics and social responsibility at Tyco, as well as least three factors that influence the company's strategic, tactical, operational, and contingency planning. These are lack of integration of acquired companies; involvement in non-core businesses; and lack of clear top-level management. Bibliography lists 4 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSmgmtPlnTyc.rtf
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Unformatted sample text from the term paper:
Tyco was one of the many corporate scandals becoming public on each side of the demarcation of the new century. As Tully (2004) observes, of Enron, WorldCom and the
others, Tyco has been the only success story. Much of that is owed to Ed Breen, the new CEO brought in to replace Dennis Kozlowski. Breen replaced the
entire Board and retained only ten of the 300 highest-ranking managers of the scandal-ridden Tyco. Breen was required to extensively exercise the planning aspect of management of Tyco. Issues
Legal Kozlowski and CFO Mark Swartz "looted" Tyco - and its shareholders - of $600 million, mostly in the form of bonuses but
also as the result of purchasing items including a $6,000 shower curtain and a $2,200 wastebasket (Tully, 2004). Though Tycos former top management exhibited greed to the fullest, Tyco
was one of the scandal companies of the era that did not have any overt accounting abuses. Breen replaced the entire Board with those with experience in dealing with
difficult times and focused on higher corporate governance; Tyco was well ahead of many other large companies when Sarbanes-Oxley was passed in response to the Enron scandal. Ethical
Bonuses paid to the highest-ranking Tyco employees helped to drain the company of operating capital. In the year Breen arrived, there were 100 employees
who had received bonuses in excess of $1 million in a single year (Tully, 2004). Former CFO Mark Swartz still was at Tyco when Breen arrived. He had
not yet been indicted and he had a contract calling for $110 million in severance. Breen wanted Swartz out of Tyco but certainly did not want to lose 100
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