Ethics and Wal-Mart
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Ethics and Wal-Mart
Wal-Mart leadership believes that the practice of ethical behavior is critical to their success. Wal-Mart has a statement of ethics that applies to all of its employees, associates and third party service providers. The statement involves three common beliefs that include respect for the individual, service to our customers, and striving for excellence. Unethical actions of a company can negatively affect a companys financial earnings through a lack of credibility concerning financial reports. Investors should have confidence that the financial reports from a business are a true representation of its financial condition. Employees at all levels of employment with Wal-Mart are required to actively practice actions that include integrity and ethical behavior.
Wal-Mart operates in a global forum that includes different cultural beliefs and laws. For example, in many Asian countries gift giving is a way of conducting business and showing respect. Business transactions in the United States may label those types of actions as a bribe and therefore illegal. Wal-Mart leadership has an Open Door Policy and Global Ethics Helpline to expose any unethical actions that may occur. The Open Door Policy allows employees to discuss any actions or issues that may be unethical or harmful to a healthy work environment. The Global Ethics helpline is a resource that assists with resolving ethical issues (Introduction- Wal-Mart Ethics, 2012). Wal-Mart modifies its Statement of Ethics to comply with laws that include different beliefs from foreign countries. This compromise ensures that ethical standards are upheld according to Wal-Mart standards and meets guidelines according to different international laws. Wal-Mart leadership believes that a commitment to ethical practices is not only the way to conduct business, but it builds a collective trust that is critical to the companys survival and success.