This paper critically evaluates the planning function of management, analyses the influence of legal issues, ethics, and the corporate social responsibility on the management planning at Tyco Company giving example of each. It also it analyses the three factors that influences the firm’s strategic, tactical, operational, and the contingency planning.
Planning Function of Management of Tyco Company
It is believed that customers, governance, growth, operational excellence, teamwork and financial strength assist them to realize their success.
Governance helps the Tyco to make policies that encourages employees ensuring that the integrity of the firm depicts in the job and their product distribution. This policy makes the employees to maintain the company image. Also, Tyco has the understanding of the needs of the customers. By fulfilling their wants and provide them with the expected performance keeps them a head of their competitors. The firm makes customers requests be applicable in the policies and standards of the company.
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The firm has put in place good practices of operations in product, services and employees. The operations are not one-sided, they are set to work all together to ensure success. There are proper trainings, motivations and free communication in the firm has helped the company to work to the top of its capabilities. Management is taken as the teamwork as they provide means to the employees in order to successes and at times make decisions. This motivates the employees to feel part of the company.
Tyco determines the financial strength and flexibility so that the earnings and the objectives of revenue are achieved in Tyco. Good financial record keeping and attaining financial goals assure investors that the company is expanding and there is an increase in the shareholders’ investments. (Bateman & Snell, 2007).
Influence of Legal Issues
Like any other entity there are laws that Tyco bids to. Tyco Company has to abide to guidelines, rules and laws of business that are set by the governing agencies, for example, the Security and Exchange commission. Unluckily, Tyco Company is not ideal as it has these who have desires that are greedy and trends to abuse and misuse anything they lay hands on so that their needs and wants are met. This pose a danger signal since such personnel exist in the hierarchy of the Tyco Company. For example, its former CEO Dennis Kozlowsky and CFO Swartz Mark were faced with the charges of larceny and conspiracy, falsifying the business records and the violation of business law.
Ethics involves the analysis and employs the concepts like right or wrong, good, bad and responsibility. Prior to 2002, to work ethically was just like unwritten law that individuals simply followed. But due to the increase in the number of corporate indignity many committees came together and established business laws against practices that were unethical, for example the Sarbanes-Oxley Act of 2002 (Nevgi, 2007).
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This will help the company gain acceptance in the society and in the public. The commitments of Tyco are beyond business, as it also entails in the community matters around it. Its engagements as citizen globally are driven by strategy concentrating resources on matters and opportunities where the impact can be felt like education and health, for example, it is involved in Code Adam Child Safety and Water for People programs.
The factors that influence the strategic planning of Tyco Company include; ensuring that the core competence is the operations that are excellent, building a platform that assures organic growth in a sustainable manner, investing in its people and lastly, holding themselves to the highest standards of ethics.
The factors that influence tactical planning in Tyco Company are; making sure that the products are accessible, meeting the demands that are placed by customers in a single fiscal year and lastly the success of Kendall to assist Tyco healthcare meet the objectives that placed at them.
The factors that influence operational management are; the expensive qualification programs that have to be undertaken to fulfill the requirements of Boeing, another one is the subject of rigidity in manufacturing controls and the inspection processes, lastly is the extensive acceptance procedures for testing (Nevgi, 2007).
The factors that influence this planning are; the presence of alternative course of action the firm can take in case the progress of a fails due to obstacles, another factor is the availability of backup systems to operate when primary system fails and lastly are the weather conditions like wind and storm like hurricane.