March 20, 2009
During the course of this paper one will see addressed several issues of responsibilities that the Tyco Corporation must deal with. Some of these issues are ones that they have had to deal with quite recently. The responsibilities that one will see discussed are the legal, social and ethical issues that arise in a company that is nationally known.
Tyco provides products and services across the world. The company is global and diversified providing a variety of products including electronics, healthcare, fire and security services and engineered products and services. While employing over 250,000 people worldwide they grossed approximately $40 billion in revenue in the year 2005. In 2002 Tyco was involved with the corporate scandal where the management mis-appropriated corporation funds. The previous CEO Dennis Kozlowski was convicted in 2005 on 22 counts of the 23 that he was charged with. This is an example of not only a legal issue of responsibility but also one of an ethical issue that the Tyco Corporation has had to face. In the face of the legal and ethical issues that this mishap had placed the corporation in, Tyco placed Ed Breen in as chairman and CEO. Mr. Breen joined the company in 2002 after the scandal and immediately began the rebuild of the company’s name. With the appointment of Ed Breen and his changing of the company’s ethical standards (to be discussed in the next portion of the paper) he promotes the legal responsibilities of not only the company’s employees but the responsibilities of the suppliers and buyers to report any wrong doing. This reporting also speaks to the ethics of the Tyco corporation employees as well as those of the companies that buy and sell to the corporation.
Ethics have and always will play a large part in corporation’s worldwide. Consumers will not purchase goods from companies that they believe...