Fin 370 Ethics and Compliance

In: Business and Management

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Wal-Mart Ethics and Compliance

FIN/370

OCT 23RD 2010

Wal-Mart Stores Inc.Ethics and Compliance

Give me a “W”, Give me an “A”, Give me an “L”, Give me a squiggly, Give me an “M”, Give me an “A”, Give me and ‘R”, Give me a “T”. What’s that spell? Wal-Mart. Whose Wal-Mart is it? It’s my Wal-Mart! Who’s number one? The customer! Always! This is the motto and cheers that Wal-Mart lives by. Don’t be surprise if you hear the associates shouting this loudly and proudly at your local Wal-Mart store. It is one way they show pride in the company and how much they value its customers. Ethics plays a huge role on why Wal-Mart has been successful and as Sam Walton would say “Just because we work hard, we don’t have to go around with long faces. It’s sort of a ‘whistle while you work ‘philosophy and we work better because of it” In 1962, Sam Walton opened his first store, he implanted many principles and values within the company; Respect for individual, Service to the Customer and Striving for Excellence which were his 3 basic beliefs and remain firmly committed to after his death. The Global Ethics Office in the company promotes ethical culture to all stakeholders worldwide. The statement of ethics gives all associates globally a reference guide to make ethical decisions. Wal-Mart ethical standards exist to strengthened the operation of positive labor and environmental practices in factories. The company encourages anyone that is involved in an ethical investigation to reveal and report all information truthfully. The facts presented should not be of personal opinion, bias or judgment. Several procedures have been put in place within the company that helps compliance in the financial environment. The company complies with the ethical and governance reforms established by the Sarbanes Oxley Act (SOX) The company believes in order to…...

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