Tyco International

Tyco International company witch headquarters is located in Princeton, New Jersey with at least 248,000 employees was founded by Edward Breen in 1960 (Wikipedia, 2007). In 1992 Dennis Kozlowski Became the CEO , leading with aggressiveness acquiring several and diverse other businesses into the organization (Wikipedia, 2007). Tyco's managerial success stems from a long history of planning strategies and implementation of those Strategies TYCO international is one of the world leader specialize in electronics (connectors, conduits, and printed circuit boards); security and fire-protection systems; the health care group makes bandages, crutches, and respiratory care equipment; the telecommunications unit makes undersea fiber-optic cable. Tyco has been an aggressive acquirer of companies, and in the past three years the company made 700 acquisitions worth $8 billion. During the years of Dennis Kozlowski’s leadership, Tyco International merged and bought out several companies, making their profits grow beyond 30 billion dollars, but doubled its long term debt by over 10 billion dollars (Wikipedia, 2007). After the stock went down in 1999, rumors began to spread about Tyco’s International accounting procedures . It was clear that Tyco was producing irregular financial accounts, but was denied by Tyco’s leaders. Tyco's top executives were indicted and convicted of fraud charges stemming from both improper accounting practices as well as improper personal use of company funds. The planning strategy of these executives seems to have been more focused on personal gain than on the best interests of the company and its shareholders. They ignored their responsibilities to the laws governing corporate management and to their investors and employees. Dennis Kozlowski, the chief executive officer, alone plundered the company of over 400 million dollars. Using company funds, he threw fancy party for his wife's birthday that cost two million dollars. He bought millions of...