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Tyco International: Management Planning Analysis Essay

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Tyco International: Management Planning Analysis Traditionally, along with leading, organizing and controlling, planning is one of the main functions of management. As a function, planning has to answer five questions; where does the company want to go, why they want to go there, how they will arrive at their destination, what is needed to go there and finally, how they will know when they have reached their goal. In this paper I will explore how Tyco International, Ltd. has used the planning function to recover from a scandal and to begin again to build a new future. Planning is the foundation that lays out the goals of a company however; factors such as ethics, technology, legal issues and social responsibilities that can have direct…show more content…
Executives at the top of Tyco had to redefine the internal structure and develop new internal controls in place. They address the ethical concerns of the employees, the shareholders and the public by first coming up with a new vision that would express who they are now and it states as follows (Tyco International, Ltd, 2008): 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. As reported in an article by Knowledge@Wharton (2005), Edward Breen, the CEO who replaced S Kozlowski, “He fired 290 of the company's top 300 executives. Then he turned around and fired the board that had just hired him. He closed Tyco's posh Manhattan offices and moved to West Windsor, N.J. He ordered consolidations throughout the company, paid down debt and, lately, has begun to focus on growth rather than simple survival.” By restructuring the company’s governance mechanisms, forming a new board of directors independent of the company and developing a new reporting structure they have made immense strides toward rebuilding their reputation (Jorgenson 2005). Even the culture within the company has changed as a result of pressure from the
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