Wal-Mart's Values
Exploring the World Wide Web
-Go to Wal-Mart’s web site www.walmart.com and read the information there about the company’s stance on the ethics of Global Outsourcing and the treatment of workers in countries abroad. Then search the Web for some recent stories about Wal-Mart’s global purchasing practices and reports on the enforcement of its code of conduct.
I. “Brief” Summary of the exercise
Wal-Mart was founded back in 1962 by Sam Walton who instilled values and the three basic beliefs that remain as the core principles in the company today. These principles are: “Respect for the individual, Service to the customer, and Strive for excellence“ (Wal-Mart Stores, Inc.). One of the main core values that Wal-Mart holds with high importance is integrity, which is based on their “Statement of Ethics”. “Nothing is more important to a company and its ability to lead than integrity. It’s more important than sales or earnings or stock growth” (Lee, p. 3). With the ability to expand its borders beyond the United States, the “Statement of Ethics” has been an asset that helps “maintain” these core values. Wal-Mart also encourages all employees globally to adhere to the “Statement of Ethics,” unless it goes against the law of that country (Wal-Mart Stores, Inc.). The Social Responsibility of Wal-Mart is clearly defined. Employees should adhere to the “Statement of Ethics” and are encouraged to use the “Open-Door Policy” as well as utilize the Global Ethics Office when there is unethical behavior that doesn’t protect the well-being of their stakeholders. Wal-Mart as well as other companies should maintain a positive influence in the way they conduct themselves, so that healthy relationships are developed with their stakeholders worldwide. In recent articles, we find that Wal-Mart strives to uphold their core values by helping the economy of Guatemala. However, there is a compromising of behavior in these core values being questioned in China. Because of these
-Go to Wal-Mart’s web site www.walmart.com and read the information there about the company’s stance on the ethics of Global Outsourcing and the treatment of workers in countries abroad. Then search the Web for some recent stories about Wal-Mart’s global purchasing practices and reports on the enforcement of its code of conduct.
I. “Brief” Summary of the exercise
Wal-Mart was founded back in 1962 by Sam Walton who instilled values and the three basic beliefs that remain as the core principles in the company today. These principles are: “Respect for the individual, Service to the customer, and Strive for excellence“ (Wal-Mart Stores, Inc.). One of the main core values that Wal-Mart holds with high importance is integrity, which is based on their “Statement of Ethics”. “Nothing is more important to a company and its ability to lead than integrity. It’s more important than sales or earnings or stock growth” (Lee, p. 3). With the ability to expand its borders beyond the United States, the “Statement of Ethics” has been an asset that helps “maintain” these core values. Wal-Mart also encourages all employees globally to adhere to the “Statement of Ethics,” unless it goes against the law of that country (Wal-Mart Stores, Inc.). The Social Responsibility of Wal-Mart is clearly defined. Employees should adhere to the “Statement of Ethics” and are encouraged to use the “Open-Door Policy” as well as utilize the Global Ethics Office when there is unethical behavior that doesn’t protect the well-being of their stakeholders. Wal-Mart as well as other companies should maintain a positive influence in the way they conduct themselves, so that healthy relationships are developed with their stakeholders worldwide. In recent articles, we find that Wal-Mart strives to uphold their core values by helping the economy of Guatemala. However, there is a compromising of behavior in these core values being questioned in China. Because of these
Cited: China Labor Watch. (2008, July 15). Retrieved October 1, 2008, from China Labor Watch Wal-Mart: http://www.chinalaborwatch.org/walmart.htm Dickerson, M Jones, G. R. (2008). Rules for Ethical Decision Making. In G. R. Jones, & J. M. George, Contemporary Management (p. 139). New York: McGraw-Hill/Irwin. King, E. F. (2008, September 17). Wal-Mart District Manager of TLE. (J. A. King, Interviewer) Lee, C Smith, H. (2004, November 16). Frontline. Retrieved October 1, 2008, from Is Wal-Mart good for America. Wal-Mart Storecs, Inc. (n.d.). Retrieved September 30, 2008, from Wal-Mart Stores, Inc. Global Ethics Office: http://walmartstores.com/AboutUs/280.aspx Wal-Mart Stores, Inc Walmartstores. (2008, August). Retrieved September 30, 2008, from Guatemala Fact Sheet (pdf): walmartstores.com/download/2002.pdf