Sales Tax Evasion Case -Tyco's CEO Kozlowski legal issues
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Case Study Assignment:
'Tyco: I'm Sure That It's a Really Nice Shower Curtain.'This was a summary regarding Tyco's CEO Kozlowski legal issues.
- What was his motivation for trying to avoid paying sales tax on the art work he purchased? It is an overview of the legal issues that sent the CEO to prison.
Extra information:
The authors suggest 8 governing ethical principles which taken together they call: The Global Business Standards Codex (GBS Codex). These 8 principles to create or evaluate a Code of Conduct and their most important aspects are:
1. The Fiduciary Principle (Diligence, Loyalty).
2. The Property Principle (Protection, Theft).
3. The Reliability Principle (Contracts Premises, Commitments).
4. The Transparency Principle (Thruthfulness, Deception, Disclosure, Candor,
Objectivity).
5. The Dignity Principle (Respect for the Individual, Health and Safety, Privacy and
Confidentiality, Use of Force, Associatiation & Expression, Learning &
Development, Employment Security).
6. The Fairness Principle (Fair Dealing, Fair Treatment, Fair Competition, Fair
Process).
7. The Citizenship Principle (Law & Regulation, Public Goods, Cooperation with
Authorities, Political Noninvolvement, Civic Contribution, .
8. The Responsiveness Principle (Addressing Concerns, Public Involvement).
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Solution Summary
This solution discusses Tyco's CEO Kozlowski and his legal problems. It is a detailed, step by step explanation regarding what motivated him to commit illegal acts against the company that he worked for over twenty years.
Solution Preview
Reference: Stanwick, P.A. & Stanwick, S.D. (2009). Understanding business ethics (1st ed.). Upper Saddle River, NJ: Prentice Hall.
Summary: The author discussing, "Tyco's I'm Sure It Was A Nice Shower Curtain main points were compensation levels, amount of debt acquired from the acquisitions and decrease in stock levels. Dennis Kozlowski started with Tyco shortly after graduating college. He worked with them since the 70's. He was the CEO for a decade. During this time, he became comfortable with the organization, board of directors and its employees. He met and worked with many subordinates that shared the same views and corporate goals. "He was trying to build Tyco into a conglomerate" He amassed a great amount of wealth with Tyco's help. He used Tyco's employees, business associates and any additional individual that proved beneficial to his cause. He felt like he had earned the right to use Tyco as his own corporation. He was given complete control over Tyco and was trusted implicitly. The stock value was at an all time ...
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