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Tyco Scandal Tyco International Term Paper

… Tyco Scandal

Tyco International was a very successful electronics company, with operations in over 100 countries. Tyco claimed to be "world's largest maker and servicer of electrical and electronic components; the largest designer and maker of undersea telecommunications systems; the larger maker of fire protection systems and electronic security services; the largest maker of specialty valves; and a major player in the disposable medical products, plastics, and adhesives markets." (Obringer, 2008).

However, when one mentions Tyco, one no longer thinks of a successful electronics company, but of a major company wracked by financial scandal.

Of course, the company maintains that it was not corrupt, only its executives were. In fact, "according to the Tyco Fraud Information Center, an internal investigation concluded that there were accounting…. [read more]

Failure at Tyco Examining Essay

… He had his accomplices but without Kozlowski, they would not have dared to cheat. We can also consider the theory of Ethical Decision criteria to explain Kozlowski's behavior. Cavanagh, Moberg, and Valasquez (1981) argue that individual use three decision criteria's in making ethical choices. The first criterion is the criteria of utilitarianism. It states that decisions are considered explicitly on the basis of their aftermath. Kozlowski ignored this fact when he practiced unjustly. He was unable to provide maximum benefits to the maximum amount of people. The second criteria is the criteria of focusing on rights. These criteria states that we should protect fundamental rights of other individual as well as ours. Kozlowski failed to follow this too as he stole the money of Tyco's…. [read more]

Business Ethics Introduction (Summarize Case Study

… It is at this point that his behavior and past transactions were brought into question. ("Tyco I'm Sure that's a really Nice Shower Curtain," n.d.)

Explain the concept of commingling assets with respect to the Tyco case.

The commingling of company assets is when executives will seek out loans and will have other programs in place that will benefit them personally. This is above and beyond traditional compensation plans, as these initiatives allowed everyone to steal company funds for their own use. Kozlowski and Schwartz used these programs to offer themselves lucrative rewards, bonuses, reimbursements and loans. ("Tyco I'm Sure that's a really Nice Shower Curtain," n.d.)

They utilized the money that was received to purchase real estate, throw elaborate parties, buy professional sports teams…. [read more]

Corporate Social Responsibility Initiatives Essay

… These bodies may consist of a high official and other managers that are in the organization. The body may also consist of a specialist in the field of ethics. The monitoring body would have their own set of rules to follow in different situations. These bodies may also conduct audits about ethics in the company and may also analyze complaints about ethics violations (Dubrin 74-105)

Written Codes of Conduct

The managers may also instruct the employees to follow specific codes of conduct in order to make them moral and socially responsible. These codes usually ask the employees to behave with integrity. These codes may cover general or specific aspects such as behavior with colleagues and the highest value of the gifts that one can receive…. [read more]

Business Ethics This Is a Guideline Thesis

… Business Ethics

This is a guideline and template. Please do not use as a final turn-in paper.

In today's world, anyone in business who doesn't live in a cave knows that "business" and "ethics" just don't seem like two terms that go together. It just does not seem as if you can read the Wall Street Journal -- or the Peoria Journal Star for that matter -- and not see a story of three about some violation of business morality and ethics. Sad but true, it is a statement of our times and of greed gone amuck.

Perhaps that makes it even more appropriate that we discuss that subject in some moderate depth to discover what it is supposed to be, what it used to…. [read more]

Code of Conduct Term Paper

… Code of Conduct

In the past few years, several well-publicized scandals involving the improper management of ethics and values within large business organizations have emerged, bolstering the importance of business ethics in modern day society. The most notable scandals involving ethics and values have included global corporations such as Tyco. These three significant scandals that occurred in the past decade have led to the enactment of many laws, regulations, and suggestions for companies to implement to protect their business as well as their employees. One such suggestion for employers is to implement a code of conduct for all staff members to follow. A code of conduct within a regulated profession has shown to have a significant impact on the influence of ethics and values of…. [read more]

Corporate Governance Research Proposal

… Corporate Governance

Much has been made of the debate between stewardship theory and agency theory as it relates to corporate government. Many say that agency-style theory is necessary because it's the only true thing that keeps corporations in check in terms of ethics and compliance with the law. However, the opposite side of the argument is that governmental at all agencies both over-regulate businesses in general and they over-react to corporate scandals and thus end up over-correcting with legislation that goes farther that it needs to or should. As with most things, the correct answer is surely in the middle as the proper rules of the game that no one should be strayed from and which also dictates how violators will be punished. However, the…. [read more]

Corporate Ethical Breaches Essay

… In order to avoid situation that took place in Enron Corp. there are some actions that should be taken within an organization. First of all, there should be analysis of culture within the organization including norms of behavior, standards of conduct, values, perspective of attitudes, perceptions, pressures to commit misconduct, communications, risks and vulnerabilities. The Code of Ethics should be complied by Board Members and Senior Executives as well as by all employees. Measures they recommend should include staff training, evaluations of compliance systems, appropriate funding and staffing of the corporate ethics office. An organization has to make sure that consulting and auditing are separated while financing auditing has its independence with integrity. Moreover, managing proper communication regarding expectations, requirements, goals and roles at all…. [read more]

Empirical Study on Business Ethics Development of International Trade Personnel in Taiwanese Industries Term Paper

… ¶ … Business Ethics Development of International Trade Personnel in Taiwanese Industries

Criteria for Coding Data

The survey data that is analyzed in this chapter relied on the Likert scaling methodology for defining forced choice to attitudinal questions. A total of 28 variables are included in the analysis, with two being demographic, the age and gender of the respondent. The attendance in an ethics training course is measured from the standpoint of having completed training in the last five years or not. Twelve additional variables are also used to ascertain the respondents' level of ethics judgement in response to a hypothetical case regarding an illegal liver transplant. The remaining thirteen questions comprise the Ethical Climate Questionnaire as is shown in the Appendices of this study.…. [read more]

Educational Curricula Essay

… Curricula can also be influenced by non-academic factors, such as when the number of forensic science-related programs increases as a result of the public demand inspired by the popularity of fictional television crime drama programs.

In professional healthcare education, the curricula and programs of study available to students is substantially determined by the staffing needs of the healthcare industry (Billings & Halstead, 2009). For example, as the population of the United States becomes older, healthcare education shifts to increase the availability of educational and professional certification programs in geriatric-related specialties at every level from geriatric medicine to preparatory programs for home health aids and rehabilitation specialists (Billings & Halstead, 2009). To a great degree, changes in the educational programs and to the curricula within professional…. [read more]

Are the Rich Saints or Sinners? Term Paper

… ¶ … rich are actually sinners. This is due to the fact money creates greed. When some people have access to more money, greed becomes intensified since it can help them to do whatever they want regardless what others think. Furthermore, some people believe money gives power and with it, they think they are above the law. For example, in the corporate business world, there have been many scandals that the manager or CEO have been sent to jail because they stole million of dollars from their companies. To further prove the rich are sinners, Martha Stewart pretended that she did not know she was committing fraud when she was sentenced to prison. It seems that the richer a person is, it is more likely…. [read more]

Psychological Egoism Essay

… Psychological Egoism and Corporate Culture

Psychological egoism refers to the theory, based on observations of human behavior, that the motives behind all actions and decisions which encompass human behavior is to benefit their own welfare (, 2009). In the last decade, the news has been rife with painfully real tales of psychological egoism running riot in the corporate world and high level executives eventually being placed under arrest. A very infamous and public scandal which involved psychological egoism resulting in ethical dilemmas handled in favor of greed was the case of the Tyco looting. Chief executive officer (CEO) L. Dennis Kozlowski and chief financial officer (CFO) Mark H. Swartz were escorted out of Tyco company headquarters in handcuffs. The charges were that they had stolen…. [read more]

Management Compensation in Relation to Corporate Failures Thesis

… Management Compensation in Relation to Corporate Failures

Corporate governance refers to the way in which directors and auditors manage their responsibilities towards shareholders. Common corporate governance measures consist of: appointing non-executive directors, create constraints for management power and ownership concentration, and insure the financial information and executive/management compensation's disclosure to the public. Corporate governance's role is to provide investors and other stakeholders with a clear insight over what is going on the company, so that the former make well informed decisions that affect both them and the company.

Executive compensation refers to the way top executives in business corporations get paid. Their pay may consist of: basic salary, shares, options, bonuses, and other company benefits and it remunerates their work on the board of directors.…. [read more]

Enron Ethical Issues Thesis

… Enron & Ethics

Enron Ethical Lessons

The collapse of Enron in 2001 was an incredibly negative event in the business world of the U.S., and it sent shock waves through corporate hallways everywhere. It also sent laid-off employees scurrying for comfort and it sent many stakeholders into the poorhouse as 401K investments melted away like butter in a blast furnace.

And even though there have been numerous corporate meltdowns since then, especially in the past year due to the recession and bank failures, the Enron case stands out as one of the darkest moments in the economic history of the United States. And the one simple word with complex meanings is at the root of Enron's stunning collapse: ethics.

Indeed, the appalling ethical breaches that…. [read more]

Evaluating the Chosen Companies Dissertation

… Competition Between McDonald's, Burger King, and Wendy's: The Finances of Fast Food

The following research proposal demonstrates the need for achieving greater consistency, accuracy, and reliability in the financial assessment of public traded corporations, and to this end develops a systematic way of achieving a model of prediction and assessment with the qualities. Noting the recent and ongoing economic turbulence caused by inconsistent and often fraudulent accounting and reporting practices, a literature review is conducted that identifies many of the complicating factors that affect financial reporting and corporation value assessment even when entirely legitimate practices are involved. Issues affecting firm valuation and company performance are also assessed. Following this review, the methodology for the proposed research of three companies in the fast food industry is…. [read more]

Influence of Branding on Consumer Purchasing Behavior Research Proposal

… Branding Strategies

Assessing the Influence of branding on consumer purchase behavior is begins with an analysis of how the accumulated effects of marketing strategies contribute to the permanency of branding and their accumulative effects on consumers. The impact of Web 2.0 technologies (Bernoff, Li, is re-ordering the dynamics of branding on a global scale based on social networking. Broader still is the cultural assimilation of branding on a global scale. Learning and cultural assimilation is actually becoming more pervasive as a result of more effective branding strategies that are being implemented. This cultural assimilation and focus isn't at the expense of cultural richness and identity at a local level however. Research completed in this dissertation shows that branding and messaging is interpreted and synthesized…. [read more]

Find the Warning Signs for Choosing the Company Term Paper

… Warning Signs

Danger! Danger! What were the warning signs for choosing this company as a client?

One of the most publicized corporate ethical scandals in recent memory has been that of HealthSouth Corporation's accounting misdeeds. Over the course of the company's six-year financial fraud, the company recorded 2.7 billion of fake revenues upon its ledges. To accomplish this feat, the company routinely overestimated insurance reimbursements, inflated corporate revenue, adjusted fixed-asset accounts, and improperly booked capital expenses and reserve accounts to create a picture of financial health. Members of HealthSouth's accounting staff also provided the CFOs with false depreciation schedules, which were then used to create fictitious assets on the company's general ledger. One corporate Vice-President, Jason Brown, even created documents to indicate that HealthSouth sold…. [read more]

Arguments for and Against Strict Corporate Governance Term Paper

… ¶ … Against Strict Compliance

Arguments for and Against Strict Corporate Governance

The rise in corporate governance and its associated disclosure requirements and costs are forcing unnecessarily higher costs and demands on businesses, draining their ability to be globally competitive, the accumulated costs and time requirements imposed on corporations to be in compliance with a multitude of regulations including the Sarbanes-Oxley Act of 2002 (SOX) in turn are directly responsible for higher costs of production, selling, and service thereby increasing the costs of products to consumers as well. In addition, many companies are choosing to become privately held as a result of these costs of being in compliance with progressing more stringent and unreasonable regulations and laws (Engel, Hayes, Wang, 2007. p. 116). In addition…. [read more]

Ethics Question 1 Pareto-Optimal State Term Paper

… Ethics

Question 1 pareto-optimal state means that essentially no person is being needlessly left behind. For example, if a particular person's utility or usefulness to the economy or quality of life cannot be raised without reducing the utility of someone else, a society has achieved this state. In other words, if a worker can receive benefits at a company without the company having to lay off workers or deprive shareholders of income, the society is not pareto-optimal -- ideally, there must be a mechanism in place to ensure that the worker has benefits, if the owner can provide it. However, defining pareto-optimal utilization is difficult in such a model. Naturally, individuals will, always however wealthy, see any reduction in their income from taxes for benefits…. [read more]

Internal Controls Essay

… Internal Controls

SOX and Corporate Governance

The Sarbanes-Oxley Act of 2002 (SOX), is a law enacted as a direct result of corporate scandals such as Tyco International, Adelphia, WorldCom and Enron. The reason that SOX is an important tool to avoid further scandals is that it creates the Public Company Accounting Oversights Board to register and regulate all public accounting firms, as well as requiring that the CEO of a corporation, along with its chief financial officers certify that all financial statements are accurate -- this to keep the CEO from trying to disavow any knowledge of wrongdoing as occurred in several of these scandals (OSU, n.d., para. 2,5). SOX also takes several steps to prohibit certain activities by corporate executives and provides whistle blower…. [read more]

Sarbanes-Oxley Act 2002 Term Paper

… Sarbanes-Oxley Act 2002 is also known as Public Company Accounting Reform and Investor Protection Act of 2002 and is most commonly called SOX or Sarbox. On July 30, 2002 the Act was introduced from United States federal law got a response with various numbers of major corporate and accounting scandals, which were affecting Enron, Peregrine Systems, WorldCom and Tyco International. In result, there was a decline in public trust for accounting and also reporting practices. Sarbanes-Oxley Act is named after the sponsors of the Senator Paul Sarbanes and the representative Michael G. Oxley. It was also planned to punish the corporate and fraud for accounting plus corruption as well which ensure the justice for the people with strong behaviors and to protect the workers and…. [read more]

Shareholder and Stakeholder Values Term Paper

… Shareholder and Stakeholder Values

It makes sense for our modern world to have a foundation of a market-based economy because there are inherent conditions in the competitive market system that efficiently helps to meet the needs of consumers. These are not modern inventions or recent revelations. Adam Smith held concepts based on an invisible hand which was suggested as early as 1776 in the classic work An Enquiry into the Nature and Causes of the Wealth of Nations. These insights still hold true.

There is no apparent conflict between the business community attempting to maximize shareholder value and maximizing stakeholder or social values. In a sense, we could say that maximizing one inadvertently helps us attain the other. Corporations and businesses can do well in…. [read more]

Ethics in Forensic Accounting Essay

… ¶ … forensic accountants and their role in detecting / preventing fraud. This will be accomplished by focusing on the most common types of frauds and the way they are impacting stakeholders. Once this occurs, is when we can provide specific insights that will highlight how these challenges can be mitigated over the long-term.

Over the last several years, the issue of ethics in forensic accounting has been increasingly brought to the forefront. This is because there have been a number of high profile scandals highlighting potential abuses that occurred at the hands of actuaries. In some cases, these individuals often overlooked critical information that could have uncovered a potential fraud. While at other times, they were overly influenced by corporate officials. In either case,…. [read more]

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