In the aftermath of Tyco’s executive scandal in the early 2000’s, Ed Breen and Tyco’s newly elected management team were vital elements to the repair of Tyco’s corporate social responsibility and company image. During this time, Tyco International began focusing on the repair of internal weaknesses and devised several initiatives to improve their image and reform their values.
During Tyco’s reform period they focused on multiple goals and company-wide achievements. Governance, customers, growth, teamwork and culture, operational excellence, and financial strength and flexibility were analyzed, scrutinized, and revamped. Tyco’s new vision: “To be our customers first choice in every market we serve by exceeding commitments, providing new technology solutions, leveraging our diverse brands, driving operational excellence, and committing to the highest standards of business practices-all of which will drive Tyco’s long-term growth, value, and success.” (About Tyco: Tyco International)
Supporting diversity in today’s global commerce is imperative to maintaining a competitive advantage. Tyco realizes this strategy and has developed their own innovative diversity initiatives to increase stakeholder value and strengthen their brand image. “In 2010, Tyco International launched a diversity roadmap that developed strategies to increase the level of purchases from small businesses owned by minorities and women. Our goal is to increase the number of diverse suppliers, increase the amount we spend with diverse suppliers, and include diverse suppliers in our sourcing initiatives. We are dedicated to building a strong community and driving diverse suppliers to sustain themselves well into the 21st century. Participation in diversity events also enables us to network, learn and share best practices with other corporations that have strong commitments to supplier diversity.” (Corporate Citizenship: Tyco International)
As part of Tyco’s revolution to improve...
Cited: 2010 Annual Review & Corporate Responsibility Report: Compliance. (n.d.). Retrieved June 15, 2011, from Tyco: http://www.tyco.com/2010annualreview/env-performance.html
2010 Annual Review & Corporate Responsibility Report: Employee Learning & Development
2010 Annual Review & Corporate Responsibility Report: Environmental Goals. (n.d.). Retrieved June 15, 2011, from Tyco: http://www.tyco.com/2010annualreview/env-goals.html
About Tyco: Tyco
Corporate Citizenship: Tyco. (n.d.). Retrieved June 18, 2011, from Tyco: http://www.tyco.com/wps/wcm/connect/tyco+corporate+citizenship/Corporate+Citizenship/Supplier+Diversity/
Our Businesses: Security Solutions
EHS VISION AND POLICY (2010). Retrieved June 20, 2011 from http://www.tyco.com/wps/wcm/connect/tyco+corporate+citizenship/Corporate+Citizenship/EHS/
Please join StudyMode to read the full document