Examining a Business Failure

Examining a Business Failure Tyco International I choose managers from the same lay as myself. Smart, poor, and wants to be rich. Dennis Kozlowski, Tyco CEO, explaining to Business Week how he chooses managers (Jennings, 2004, p. 15) In September 2002, author Tyco CEO Dennis Kozlowski and former Tyco CFO marker Swartz were indicted on criminal charges (24 counts each) including grand larceny, securities fraud, and enterprise corruption charges (Maremont, Scannell, & Forelle, 2004). The former Tyco executives were accused of stealing $170 billion in wildcat compensation and pilfering an additional $430 million by illegally merchandising stock while misleading shareholders (Maremont & DeBaise, 2004). Both men pleaded non guilty. Kozlowski also faced charges of tax evasion in newfangled York where he was accused of evading sales tax on procures of artwork. During the rail line of an internal investigation led by superstar attorney David Boies, the lawyer who argued Al Gores case out front the U.S. Supreme Court in the disputed 2000 Presidential election, and during a subsequent trial in the New York Supreme Court, the penurious details of the Tyco malicious gossip unfolded. Most attention focused on Kozlowskis extravagant and many argued poor, tastes.

Kozlowski used stolen Tyco money to purchase a range of items including a $6,000 shower curtain, a $38,000 backgammon table, a $4,995 bed skirt, a $103,000 mirror, a $500,000 hand-painted bird mural, and a $2.1 million birthday party in Sardinia thrown by Kozlowski for his married woman (Maremont, 2003, 2004). To what extent did Tycos corporate culture contribute to the scandal? At first blush, it might seem that the Tyco scandal is hold in to just a couple of bad executive apples, notably Kozlowski and Swartz. However, it can be argued that the fact that Kozlowski and Swartz were able to get by with their misdeeds indicates a corrupt culture, at least at the executive level. Verschoor (2003) argued that: Extensive corporate funds... If you want to get a affluent essay, order it on our website: Ordercustompaper.com

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