Writing Resources
Ethics refer to rules and principles that govern what is considered right and wrong in regard to one's conduct Business ethics is a type of professional ethics which examines ethical principles and problems which arise in a business environment Business ethics should take into consideration the following factors 1 The business should deal fairly with everyone dealing with it 2 Ethics should be fixed for everyone working in the organisation and its implementation should be linked with reward punishment system 3 Remedial measures in case of violation of ethics should be taken at the earliest 4 The ethics should be based on the perception of what is right Further importance of business ethics can be discussed as follows 1 To stop business malpractices Some dishonest businessmen do business malpractices by indulging in unfair trade practices which are harmful to consumers Business ethics help to stop such practices 2 Credibility in the public Ethical values of an organisation create credibility in the public Ethics are needed to improve consumers confidence 3 Protect employees shareholders Business ethics are required to protect the interests of employees shareholders dealers suppliers etc It protects them from exploitation through unfair trade practices 4 Consumer satisfaction Today consumer is the king of market
Tyco International Ltd is a manufacturing and service company with five main operating groups These groups consist of Tyco Fire and Security Tyco Electronics Tyco Healthcare Tyco Engineered Products and Services and Tyco Plastics and Adhesives Tyco International Ltd Company Profile Information Business Description History Background Information on Tyco International Ltd n d Tyco International Ltd is based in Switzerland with operations around the world UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA SECURITIES AND EXCHANGE COMMISSION VS TYCO INTERNATIONAL LTD n d One of the biggest industry specific challenges Tyco faced was growth Throughout the 1960 s Tyco started to acquire companies throughout the world With these acquisitions Tyco s sales increased from less than 1 billion to over 41 billion by 1969 Tyco International Ltd Company Profile Information Business Description History Background Information on Tyco International Ltd n d At this time Tyco s growth strategy was to grow through acquisitions This resulted in a decentralized company which was hard to control According to the fraud triangle one of the factors that lead to fraud is pressure In 2002 Tyco underwent an investigation that exposed a corporate culture that invigorated managers to push the rules of accounting to try to deceive investors about Tyco s financials
