Sauté the bacon in a heavy bottomed, deep skillet turning them as needed. Once crispy, remove the strips to a waiting plate topped with a layer of paper towels to drain off the excess grease.
Do not drain the grease from the skillet. Keep the skillet over medium low heat, and add the butter to the skillet.
Once the butter's melted, add the shredded cabbage. Gently toss the cabbage to evenly coat it in the butter mixture.
Add the water to the skillet and stir. Add the cracked pepper to the cabbage, and stir seasoning to your desired amount.
Cover the skillet, raise the heat to medium, and let everything simmer for 10 minutes- or until the cabbage has caramelized.
Open the can of corned beef and turn it out onto a cutting board. Chop the corned beef into chunks. No worries about size, it will break up more in the skillet.
Add the corned beef to the skillet, and continue cooking another 2-3 minutes, stirring occasionally to crisp the corned beef
Roughly chop the crisped bacon.
Serve the corned beef & cabbage topped with crisped bacon bits.