United Technologies Corporation - a Program of Compliance and Global Case Study - 6

United Technologies Corporation - a Program of Compliance and Global Ethics - Case Study Example The biggest hurdle that the company faced is the incorporating of a huge number of employees and who were composed of a variety of world’s cultures. Basically, the ethics of Chubb plc were nowhere near those of UTC- United Technologies Corporation. Just before embarking on this stand-alone case, it is of a high essence to look at a short background description to enable the reader has an easy time while studying the situation. UTC was a global corporation constituting of USD31 billion in terms of its value and this value was a combination of seven business undertakings and a single research center that was held responsible for any research concerning the divisions in entirety. This world’s conglomerate employed approximately 205,700 workers. After the acquiring of Chubb plc, it would lead to a situation where 138,000 of these workers would be sourced from beyond the USA borders. This corporation had above 4,000 locations in about 62 nations. Its business operations covered around 180 nations. In the year 2002 alone, 55% of the aggregate revenue of UTC was generated from foreign and the net income stood at USD2.2 billion and had an asset base of USD29.1 billion. In the year under focus (2003), UTC took position 49 in the Fortune 500 companies’ list. UTC’s first business can be traced back to 1853. One major name tarnishing event was the 1980s’ scenario. UTC was during that period the US’s major government’s contract with the Department of Defense being party to this and the case still remains. In the middle of this decade, the US’s DOD- Department of Defense was facing hard times due to the accusations of waste, fraud, and abuse. One of the divisions of UTC by the name Pratt & Whitney was put in the spotlight in connection with the same reputation tarnishing scandals. This ended up costing UTC an amount of USD 40 million from profits.