Management_Planning_Paper

The way that Tyco International works their system in management planning can have an effect on all portions of the company from workers to the community. Recognizing what goals the business is aiming for to accomplish in management planning is vital. In this paper ethics, legal issues, how external and internal influences effect management in Tyco will be discussed. Implementing strategic, tactical, operational and contingency plans in Tyco will facilitate the in and out influences with no interference of the continuing triumph of the company. Management Function To be our customers’ first choice in every market we serve by exceeding commitments, providing new technology solutions, leveraging our diverse brands, driving operational excellence, and committing to the highest standards of business practices—all of which will drive Tyco’s long-term growth, value and success (Tyco, para. 1, 2004-2010). The company believes that the goals to be accomplished through governance, customers, growth, teamwork, operational excellence and financial strength will lead the business to success. Governance gives Tyco staff encouragement to show integrity in their work and the transmission of the company’s goods. Policies need to be put in place for employees that will tell exactly what is expected of them to maintain the image of the company. Without governance the company would not be able to make a clear statement to each of the employees about what is expected of them. Employees knowing what is expected of them will ensure the future success of the company. Tyco understands what the customer's wants and needs are. By providing their wants and needs and giving them the performance they expect will give greater value to Tyco over their competition (Tyco). The company has to make the customer’s request work within the company standards and policies, if the company cannot provide this need, the customer will look to other companies that will. By providing the customers the means to state what they want without prejudice, gives the customer a sense of confidence that they will get what they want from the company and the work will be quality and well thought out. Tyco's growth depends on what policies will be put in place to achieve this. Tyco sets their sights on strategies that will organize growth targets and invest money where improvements are needed (Tyco). Evaluating the work that is being performed will give management a chance to make changes for continual growth. Growth has many different meanings. It could mean improving a product, providing employees with better ways to do their jobs, and it could mean expanding the company itself by opening different locations to serve the customers better. Tyco believes that teamwork means that each employee must maintain the company's image and reputation that goes along with the quality of the services and products that are provided. This must be done not only externally to customers, but also internally to employees to keep them motivated to continue the quality of work that Tyco provides (Tyco). Motivation helps employees to be proud of the work that is being done at Tyco. Employees are the key to bring in new customers. Sales teams provide the public with the information they need to decide if Tyco is right for them. Motivating employees gives the confidence and the means to make the company successful which will bring in customers. Tyco International puts in place the best operating practices to be successful not only product and service wise, but employee wise (Tyco). Operations are what make the business go round. Operation is not one sided, it all has to work together to be successful. By providing proper training, motivation, and open communication with employees will help the business operate to the best of its abilities. Management needs to be team players; they need to provide the employees with the means to be successful. Management needs to give the employees a chance to make suggestions and in some cases make decisions. This way the employee feels like his or her work is valued and that value and confidence will make the operations of the company successful. Financial Strength and Flexibility is determined by Tyco to ensure that earnings and revenues objectives are met on the investment of the company (Tyco). Keeping good financial records and meeting financial goals will ensure the investors that the company is growing and the shareholders investment in the company is increasing as well. Shareholders being private or public are not willing to support a company that is not using investments in the most productive way. Investors want to see management who know what to do to make the investment soar. Management must be trained to acknowledge what needs to be done to keep the shareholders happy and to ensure the success of the company. Factors that affect Management Legal issues have affected not only the company itself, but also management. An issue surfaced that the company was not handling the money correctly. Tyco paid what the shareholders were entitled. A change in management needs to be made. Either the company did not properly train the manager who was handling the financial aspect of the business, or the manager was not abiding by the policies that were set in place to make business successful. Shareholders expect the company to make a change. Making a change in management and management policies regarding the financial aspect of the business shows the shareholders that company acknowledges their mistake and they want to make it better for the success of the business and the future success of the shareholders. A company such as Tyco who is very successful and revenues are continuing to climb, tempts employees to take advantage of it and use the company's money for personal means. Two Tyco employees were caught using billion of dollars for personal use, such as lavish parties and taking the money for themselves. (New York Times, 2007) Embezzlement is a serious ethics issue, so doing the right thing, the employees in fault were forced to resign and to pay back the money. This goes back to poor financial management. Not only does the company have to train management to operate the financial aspect of the business, they need to enforce the ethics code and the consequences. Showing investors, customers and employees this issue was not to be taking lightly, the company must make a change. Changes would include assigning honest people positions of management to handle the financial aspect of the business. Putting in place a new code of conduct and by adding more advanced security measures to prevent this from happening again, shows Tyco cares about the investment of the shareholders and the customers made that bring success to the business. Using Strategic, Tactical, Operational, and Contingency Planning for Success Tyco's success is based on the way they handle strategic, tactical, operational and contingency planning. Factors that prove this success by using these elements of the plan would be providing a guide to employees which describes the way each employee is to act, and by impacting the community that the company provides for. Making available a Guide to Ethical Conduct to employees shows them exactly the way they are supposed to act in all situations of the business. Tyco's guide to ethical conduct informs the employees, in each situation, respect is expected for one another, safety measures are put in place for a pleasant working environment and so on. This way Tyco covers all open ends and there will be no confusion on what the employees are expected to do for the company to be successful. Community decides the success of the business. Tyco volunteers in the community such as doing Habitat for Humanity, Untied Way and other programs to help with the growth of the community. Doing this shows the community who are potential customers that the company cares and it shows that the company cares about the community, which brings new customers. Tyco is one of many businesses who put in place functions of management. These functions help the company to be successful in the future by setting goals and communicating to the employees. These functions also aid in legal issues and ethical issues. This is done by adjusting management and the plan of function to what ever issue is being challenged to improve the quality of work. Being involved with the community and providing employees a guide to ethics also helps the company to succeed, this is done by bringing in more customers and making the work environment safe and respectable place to be employed at.