...in an ethical manner. This paper has been designed to discuss the Walmart Corporation, its role of ethics and compliance, the procedures used to ensure ethical behavior, the processes Walmart uses to comply with SEC regulations, and a review of Walmart’s financial performance over the last two years. Role of Ethics and Compliance of Walmart The Walmart Corporation prides itself on its ethics and compliances to standards and regulations. Walmart shares all of its strategies and performance ratings in its annual reports, news releases, public filings, conference calls, and Internet resources so that all information is readily available to the public and potential and current stockholders. In regard to financial ethics of Walmart, the requirements are that the Chief Executive Officer (CEO) and Senior Financial Officers (SFO) must supply fair, full, understandable, and timely release of financial rankings in the periodic reports, which the Securities and Exchange Commission (SEC) examines. The CEO and SFOs of Walmart are responsible for reporting information that there may be in regard to deficits in operations in specific or general areas that could have a negative impact on the accurate reporting of financial data. Fraud involving associates who may be acting unethically must be brought to the attention of the SFOs, CEO, and any other corporate managers so they follow appropriate disciplinary actions to resolve the issues. The CEO and SFOs of the Walmart Corporation...
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...Ethical Relativism Richard Gomez Colorado University PHIL320-1303A-02 : Ethics: The Hallmark of Leaders at All Levels Phase 2 IP Professor Lawrence Tilman July 22, 2013 Ethical relativism points of view are equally valid and can be defined as the belief that nothing is impartially right or wrong as the meaning of right or wrong are contingent on the current views of an individual a culture, or even a historical time period. Meaning that certain characteristics are right due to fitting into that setting, while other characteristics are wrong because of a cultural tradition. (Rosenstand, 2013). The corrupt behaviors which were discussed in Phase 2 discussion board were of two different companies, the two companies that I chose were Walmart and Nike. However, in this particular individual project I will focus on corrupt behaviors of Walmart. In today’s culture, there are three particular factors of behavior, thought and feeling and these patterns are considered normal only because they are and can be significant and useful. Normal behavior supports unity where abnormal does not come together with in an organization and can easily destroy the organization. The behavior of Walmart has destroyed a part of their integrity as it has caused a significant profit loss for the organization. Behavior thought and feeling are all different factors where a judgment can be placed on what is right and what...
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...of Ethics: Walmart Nina Brown PHL/323: Ethics in Management August 8, 2011 David Rubenstein Evaluation of Business Code of Ethics: Walmart A code of ethics is a set of written guidelines issued by an organization to its employees and management regarding ones conduct and behavior (Business Dictionary, 2011). Principles and standards are important, but they are also crucial in everyday life expectancy as well as his or her work setting. The function of a code of ethics policy is to provide its personnel, administration, board of directors, and others an orientation that abides by a business course of action, principles, and ethical standards. Each business should develop a code of ethics as a standard for his or her industry to abide by daily. It should concentrate on major factors important to the individually industry requirements. The honesty of an industry and its workers is essential to the general success of the organization as a unit. This evaluation focus is on Wal-Mart the number one fortune 500 company in the world. This process will include general information about Walmart including its mission statement, ethical system, and it putting into practice on an employee, management, or board of director level. This paper will also include information on modifying the existing policy, reactions expected from employees and managers, effects of organizational culture and the effect on the organization itself. History In 1962 the first Walmart discounted store...
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...Michella Amonson ETH/316 January 16, 2014 Mr. Harralson Cross-Cultural Perspectives This paper is an overview and analysis of the ethical perspective and cultural issues that a global organization faces when interacting outside the United States. I will address and identify the cultural and ethical perspective of the global organization named Walmart. I will also analyze ethical and social responsibility issues that WalMart deals with as a result of being a global organization. I will further compare these ethical perspectives with other cultures that do business with Walmart. Walmart’s Ethical Perspective Walmart belief is built on a foundation of integrity , values of honesty, fairness and objectivity. Sam Walton founded Walmart with the strong conviction that a retailer could help people save money and live better. Since, Sam’s passing away, Mike Duke, Chief Executive Officer, President and CEO of Walmart states “culture is how we work together to fulfill that purpose. It's incorporated into every aspect of our business”. He further states “Our beliefs are the foundation of our culture: service to our customers, respect for the individual, and striving for excellence which rest on the foundation of personal integrity and responsibility(p.1).” Strong adherence to these principles has created a unique work culture at Walmart. No matter where you go — to any of our stores and offices in any of our brands around the world — our associates live these values”...
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...Responsibility MGT/498 September 2, 2015 Ethics and Social Responsibility Ethical behaviors offer significant advantages, society as hold benefits. Executives who behave ethically are better off and live more fulfilled lives, and unethical behavior can destroy an organization and the individuals who take part in it. Conducting business in the appropriate manner may not always generate the greatest profits however in the end it will lead to greatest personal satisfaction, fulfillment, and a successful outcome. What is Ethics? Ethics is the study of what constitute right and wrong behavior, it focus on morality and application of moral principals in the everyday life, also what is conform to our personal beliefs Business ethics focus on what constitute ethical behavior in the world of business, however it is not a separate behavior. Understanding business ethics is important to long viability to the business and the well-being of the officers and directors as well as the welfare of the employees (Merriam-Webster Dictionary). Ethical Standards and Behaviors The minimal acceptable standards for ethical business behavior are the compliance of the law. Ethical standards such as those in the company's policy and code of ethics must also guide decisions. Nevertheless, simply complying with the laws does not always does not necessarily make the business practice ethical. When can sometimes be ethical and still constitutes as being illegal? During the mortgage fraud, many families...
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...Adams ETH/316 May 4, 2015 Michael Esquivel Organizational Ethics Walmart started from a small discount retailer in Rodgers Arkansas. There are now thousands of Walmart stores within the United States and the company has also expanded internationally. Walmart created the one stop shop for anything, anywhere and at any time with most of its stores allowing a 24 hour shopping experience to the customers. The company operates over 11,000 retail units under 71 banners in 27 countries and e-commerce websites in 11 countries. ("Walmart", 2015) Over 2.2 million people are employed by the corporation around the world with 1.3 million in the United States alone. The company’s founder, Sam Walton, said “personal and moral integrity is one of our basic fundamentals and it has to start with us” when he spoke of his company’s ethics and integrity. ("Walmart", 2015). High moral and ethical standards are embedded in the company yet controversial ethical issues haunt the company like proverbial retail ghosts. One such ghost is Walmart’s treatment of its employees. Walmart has been criticized and publically assaulted due to the treatment of the retailer’s employees. A documentary titled Walmart: High Cost of Low Price, was released. The documentary included interviews of former employees and managers who presented critical views of Walmart’s policies in respect to the treatment of workers. Walmart was so concerned with the content of the documentary that the company formed...
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...guideline for people to perform ones duty and responsibility under right behaviors. Everyone has different values, so it is impossible to have a standard ethical guideline for everyone. Especially, people usually have different behavior standard when people meet different situations. For me, initially, I felt like I have two different standards for my family, including my girlfriend and my best friends, and for others, but after I did some researches of types of ethical theories, I feel like my ethical standard is more like the ethical egoism, partially. Ethical egoism states that individuals should do what is in their self-interest, and I really agree with this concept. In my opinion, if I cannot treat myself well, it is ridiculous and meaningless to talk about treating others well, so I always believe that I need to take care my self-interest well when I make a decision and do something. It doesn’t mean that I don’t care about others’ interest. What I believe, and most people agree with, is that I should act and achieve my self-interest, and, at the same time, others also can act and achieve their self-interest. A win-win situation is always the best way in any situation. However, sometimes, the interests of people have conflicts, and, in this situation, I will care about myself more rather than others, as long as I didn’t break the law or disobey some consensuses that followed by people as basic ethical standards, such as queue jumping, littering, and so on. As I already mentioned...
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...MBA Program Week 1 Assignment Chapter 1: 1. Potential ethical issues faced by the Acme Corporation, as I see it, are as follows: a. Salesperson Frank Garcia is providing bribes and kickbacks, disguised as gifts of entertainment to the buyer. b. Frank’s manager Amber, not only does not stop him from unethical behavior, but actually encourages him to do so. 2. In order to make ethics as part of its core organizational values, Acme Corporation should take the following actions: a. Institute companywide educational initiative regarding ethical behaviors. b. Require all employees to participate and certify understanding and acceptance of these initiatives. c. Provide reporting and support mechanisms for ethics related issues. 3. Frank needs to be aware about ethical issues related to bribery. 4. From Frank’s point of view, there is a big advantage to him and to his company in providing bribes in form of entertainment to potential buyers. Acme Corporation is getting orders and in turn rewards Frank for his successful sales. There is also a big downside for such an unethical behavior. First of all, company is opening its self up to potential law suits, negative publicity and negative consumer reacton. Chapter 2. 1. In my opinion, there is an ethical issue with employer asking an employee to ignore personal or religious convictions. On the other hand, if the game with nude contents is properly labeled and marketed, there...
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...Culture Change Paper Walmart is a global retailer with one of the most profitable business strategies on the planet. Walmart’s objective to offer the lowest prices to a diverse customer base has proven successful over several decades. Walmart began with a humble business model in the early 1960s. Sam Walton, original founder, wanted to provide people with the best prices possible. Sam Walton launched over a dozen locations to the public in the late 1960s. The profitable groundwork and strategy of every-day low prices spread rapidly through the next several decades. Throughout the 1990s, Walmart’s growth soared globally as they continued to facilitate a cost cutting strategy. America’s recent recession encouraged many low-income families to shop for Walmart’s low priced products. Walmart’s low prices may attract budgeting Americans, but their questionable operations are steering many others away. Walmart’s public perception is declining because of their negative organizational culture. Walmart’s employee wages are consistently below the American average, resulting in workers resorting to government aid. Discrimination lawsuits occur annually because of management’s stereotyping and poor leadership. Even Walmart’s ignorance to safe working conditions in other countries is beginning to surface in America’s media. Walmart’s leaders have attempted to address these issues, but ultimately failed to create a climate for change. Walmart’s future leadership must overcome...
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...Case Analysis: Wal-Mart Alfonso Soloiro 10/28/13 BUS 365 Walmart is known worldwide as a powerhouse in consumer goods retailing. You could almost find anything you want at Walmart at the most affordable price, however Walmart has gained a negative reputation regards ethical behaviors and their working environment. Walmart first began in 1962, when its founder Sam Walton opened the first Walmart Discount store in Arkansas. His plans towards Walmart and its ethical behavior seems the total opposite than what he had planned for its future and sustainability. Walton believed in customer satisfaction and hard work. Walmart claimed early on that a formal ethics program was unnecessary because the company already had Walton’s tradition of ethics. As the years went by Walmart would go from the most admired company in America to one of the most hated. One of the main ethical issues that’s been haunting them for years involves their employees and their treatment. Wal-Mart is known for its poor treatment of all employees. In fact, the average Wal-Mart hourly sales employee earns under $250 per week. Most full-time employees are working for $7.50 per hour for 28-40 hours a week. As a result of this pay scale, the majority of Wal-Mart employees are living well below the poverty line (PBS, 2010). Part of the reason that that Wal-Mart’s employees receive such low pay is that Wal-Mart is a notoriously antiunion company. The unionized retail...
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...Assignment 1: In the article “How unethical behavior becomes habit”, the writers find that questionable behavior and unethical decisions in the workplace are common occurrences for working Americans. The article continues to explain that the research they found showed that people “often start their misconduct with small transgressions and then slide down a slippery slope.” Getting away with those smaller transgressions encouraged them to commit bigger and bigger offenses as time went by. (Gino) I think this can apply to both the workplace as well as academia. In reference to the University of Central Florida Cheating Scandal, I would have to agree with the statement that cheating has become so widespread that many students have shifted their view of it all together. I feel like this has a lot to do with the generation of millennial students that are currently attending college and how they view higher education. The millennials are a challenging generation that see higher education as an expensive necessity to succeed and do not value the hard work it takes to get there. Cost of higher education keeps going up, and the more money they spend to receive their education, the more they view college as a purchase rather than a privilege. They believe they are making this investment as a way to open the doors to high paying careers and they feel entitled to their degree since they are paying for their classes. This results in these students wanting to receive their degree...
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...Corporate Ethics And Values - Pranav Chheda Corporate Ethics What is a Code of Ethics? A code of ethics outlines a set of certain principles established by the corporation. These principles can be used both as the basis for requirements and limitations. Typically, a code of ethics is founded on a set of core principles or values and is not designed for expedience. These principles are illustrated with behavioral examples. Those subject to the code are expected to understand and apply the examples in situations the code does not specifically address. Organizations expect that the principles, once communicated and illustrated, will apply in every case, and that failure to apply the principles can be a cause for disciplinary action. How is a Code of Ethics Created? To create a code of ethics, an organization must define its most important guiding values, formulate behavioral standards to show the application of those values to the roles and responsibilities of the persons affected, review the existing procedures for guidance and direction as to how those values and standards are typically applied, and establish the systems and processes to ensure that the code is introduced and effective. Codes of ethics require lots of time to establish. Ideally, the development of a code will be a process in which Boards and senior management actively debate and decide core values...
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...Evaluation of Business Code of Ethics Many companies and organizations employ codes of ethics that can enhance their image and endorse a form of legitimacy to that company or organization. A company such as Walmart with local and global outreach has incorporated into its system a culture of ethics and integrity that defines who they are as a company. This culture of ethics determine how customers and suppliers are treated by the company and how workers treat each other within the company. Walmart with many years of experience as a company deals with many ethical issues and there is need for constant evaluation and analysis of systems and structures to meet expectations, and remain in compliance with the demands of the corporate world of business. The company was founded by Sam Walton in 1950, started out with as a single discount store in Northwest Arkansas and grew to become one of the world’s largest retailer in less than 50 years, with thousands of stores and clubs and millions of associates. Walmart is a value-based company that has ethics at the forefront.The company has three basic beliefs, (1) Respect for individuals. (2) Service to its customers and (3) Strvving for excellence. The vision statement is to promote ownership of Walmart’s ethical culture to all stakeholders globally. The company also has some guiding principles to assist their associates in making the right decisions and acting with integrity. These principles are, to always act with integrity. Lead...
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...Lowry vs. Walmart Learning Team A Com/295 June 6, 2016 Lowry vs. Walmart There are times when people do not feel right about a given situation and are compelled to disclose this information to the company, but this time, it did not turn out in the employees favor. "But I acted in good faith, just pointing out that there might have been some wrongdoing," said Lowry. During her day-long orientation that focused mainly on ethics, she was instructed what to do if someone had an idea that there was something unethical going on. Lowry now finds herself looking for a job so that she can continue to support her two children. This is not the first time Wal-Mart has been under scrutiny for controversial Ethics Violations or Defamation of Character suits. She should not be forced out of her position. According to "To Whom Does an Ethical Business Owe a Responsibility" (2004), four groups of people are generally responsible for the success of a business: Employees, customers, the community, and shareholders". In Wal-Mart vs. Lowry, Wal-Mart has an obligation to their employee. Why send her through the process of having to apply for a position in another department when she is already and employee? This is not only unfair to their employee but unjust. This unethical matter is now a public matter. Knowing how Wal-Mart has treated their own, who was only looking out for the company, does not look good to dedicated consumers. Wal-Mart has an obligation to...
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... | |Main Ethical Dilemmas |5 - 7 | |Dealing with Ethical Issues |8 - 10 | |Walmart ASDA Best Practice |11- 12 | |Recommendations and conclusion |13 | |Reference |14 | Executive Summary This report will outline the ethical challenges faced by Walmart Asda. It will include the previous accusations made against the company and a list of the main ethical dilemmas. The report will then develop into covering the elements that ASDA are implementing in order to overcome its main ethical issues. The report will also be outlining ASDA’s best codes of practice looking into the positive impacts the company peruses due to it following an ethical code of best practice. In conclusion, the report will be highlighting the recommendations provided in order for ASDA to strengthen the companies’ ethical code values. Introduction The word “ethics” is about knowing what is...
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