Case Study V Tyco
October 5, 2010
Introduction
Every year we hear more shocking stories of the mismanagement of a corporation’s funds. Unfortunately for Tyco in 2002, it was their company that covered the front pages of the press. Tyco’s CEO and CFO were caught trying to pass a $2,200 wastebasket and a $6,000 shower curtain off as company expenses” (Palmer, Dunford, Akin, 2009, pg.345). Just months later the new CEO, Ed Breen had an overwhelming task ahead of him. He needed to raise morale, prove Tyco’s integrity, and demonstrate a culture of accountability.
Overcoming Employee Frustrations Gerard and Teurfs believe that for transformation to occur four skills are required. Those skills are: suspending judgment, identifying assumptions, listening, inquiring and reflecting. Breen identified assumptions that the low morale was a result from lack of trust by employees. He showed how the employees could trust him, by refusing to openly discuss the past CEO’s behavior, replacing the board members and moving his ideal office location overlooking Central Park to a standard office. (Palmer, et. al, 2009, pg.326).
Vignettes
Tyco is doing everything in our power to be the best that we can be. We understand that we are defined by our employees and we trust that our employees perform to the best of their abilities. We have made the first step in changing who we are. We have new board members, and have relocated our offices from the unnecessary Central Park location. All spending of funds will be preapproved through the board. When writing the vignettes Tyco needs to make sure that topics involving money need to use terms such as funds and money, because these vignettes will be shown in different countries. The use of dollars in the vignettes could be considered to be offensive or confusing. The language used in the video should be on the simpler side in order to make translations or interpretations of the video content as smooth as possible.
Process of Communicating Change By
Introduction
Every year we hear more shocking stories of the mismanagement of a corporation’s funds. Unfortunately for Tyco in 2002, it was their company that covered the front pages of the press. Tyco’s CEO and CFO were caught trying to pass a $2,200 wastebasket and a $6,000 shower curtain off as company expenses” (Palmer, Dunford, Akin, 2009, pg.345). Just months later the new CEO, Ed Breen had an overwhelming task ahead of him. He needed to raise morale, prove Tyco’s integrity, and demonstrate a culture of accountability.
Overcoming Employee Frustrations Gerard and Teurfs believe that for transformation to occur four skills are required. Those skills are: suspending judgment, identifying assumptions, listening, inquiring and reflecting. Breen identified assumptions that the low morale was a result from lack of trust by employees. He showed how the employees could trust him, by refusing to openly discuss the past CEO’s behavior, replacing the board members and moving his ideal office location overlooking Central Park to a standard office. (Palmer, et. al, 2009, pg.326).
Vignettes
Tyco is doing everything in our power to be the best that we can be. We understand that we are defined by our employees and we trust that our employees perform to the best of their abilities. We have made the first step in changing who we are. We have new board members, and have relocated our offices from the unnecessary Central Park location. All spending of funds will be preapproved through the board. When writing the vignettes Tyco needs to make sure that topics involving money need to use terms such as funds and money, because these vignettes will be shown in different countries. The use of dollars in the vignettes could be considered to be offensive or confusing. The language used in the video should be on the simpler side in order to make translations or interpretations of the video content as smooth as possible.
Process of Communicating Change By
References: Palmer, I., Dunford, R., Akin, G. (2009). Managing Organizational Change: A Multiple Perspectives Approach (2nd ed.). New York, NY: McGraw-Hill/Irwin.