TYCO Essay Example | Topics and Well Written Essays - 1250 words

TYCO - Essay Example Lack of plan will leave leaders and staffs clueless on where the company is headed and what strategies are best get there. In order to highlight these statements, this paper will take a deeper look at planning function of management in Tyco International (Tyco). The first section will be a brief introduction to the business organization in order to fully recognize the issues that it faces. Secondly, this paper will identify and analyze the legal issues, ethics and corporate responsibility which have a profound impact on its planning function. Lastly, it will analyze three factors which influence its tactical, operational, strategic, and contingency planning. Tyco International is "is a highly diversified global company that provides thousands of products and services vitally important to residential and commercial customers" (Tyco 2008). The business organization's product line is diverse which range from electronic security and alarm monitoring to fire-fighting equipment and breathing apparatus, and from water purification and flow control solutions to galvanized steel tubes and armored wire and cable. The company is organized into five business segments namely ADT Worldwide, Fire Protection Services, Safety Products, Flow Control, and Electrical and Metal Products (Tyco 2008). The operation planning function of management in Tyco has always been influenced by the legal issues that can surface from the decision that it makes. It should be noted that being a prominent and one of the largest companies in the world, Tyco faced the legal implications of its actions as it is always under the scrutiny of its stakeholders including the government, its stockholders, and its customers. With its quest in conquering the global business arena by opening up operations in countries all over the world, Tyco maintains its commitment in adhering to the laws and regulations implemented in the geographical regions where it operates. The company has always considered upholding its legal standards through its adherence to the financial reporting standards which is set by the governing bodies. It should be noted that while large companies like Enron and HealthSouth faced legal battles in 2001-2003, Tyco retains its credibility by emphasizing its commitment to report its activi ties utilizing the preset standards (Tyco International 2008). In this, it can be seen that Tyco's initial plan to be successful in its operation by being mindful to the various legal constraints becomes visible. Until now, the legality of the operation of the company and its different processes is a primary concern in its planning activities. Ethics have also been an important part of the culture of Tyco which also becomes a tenet in its long-term and short-term plans. Through its commitment of upholding moral excellence among its directors and leaders, the business organization have had taken actions in order to eliminate dishonesty and abuse of power. It should be noted that during 2002, Tyco filed federal suit against its former executive president Mark Swartz and corporate counsel Frank Walsh for