Ethics And Compliance Finance For Business

2674 words - 11 pages

Thesis StatementEthical considerations and a break with original philosophies notwithstanding, Wal-Mart Stores, Inc., has been consistently able to outperform its competitors and delight its shareholders.Thesis StatementEthical considerations and a break with original philosophies notwithstanding, Wal-Mart Stores, Inc., has been consistently able to outperform its competitors and delight its shareholders.Sam Walton and his wife Helen opened the first Wal-Mart store in Rogers, Arkansas in 1962, offering their neighbors a new kind of discount retailer. In 1972 Wal-Mart went public with its first offering on the New York Stock Exchange. Buoyed by this infusion of new capital, by the close of the decade Wal-Mart was operating nearly 300 stores in 11 states. Presently, the company operates internationally with over 7,000 stores, employing more than 2 million associates and serving over 176 million customers a year.Despite their reputation as being one of the most successful retailers in the world, the Wal-Mart organization is not without its share of growing pains and headaches. The company has been assailed by environmentalists, unionists, women's and minority rights advocates, fair trade commissions and suppliers as well as state and local governments claiming unfair biases and misleading business practices. Opponents and opportunists have cited the departure of the company from its original philosophies and guiding principles in the name of profitability. At the same time Wal-Mart has demonstrated consistent growth and has met the expectations of shareholders at every turn.This brief presentation will offer several views on how this has been accomplished. The team will discuss Wal-Mart's ethical overview and compliance with applicable financial regulations, demonstrate a series of calculations reviewing key performance indicators for 2006 and 2007, and finally offer comment on the trends shown by these indicators.Sam Walton established three basic beliefs in which Wal-Mart remain firmly committed. These are respect towards the individual, service to the customers and strive for excellence these beliefs go hand in hand with the integrity and ethical conduct that is the foundation of the business. Wal-Mart culture encourages their Associates to act with honesty and integrity by making ethical decisions. The Global Statement of Ethics provides guidelines to help Associates make ethical decisions. The hope for Wal-Mart Associates, suppliers, and customers is to feel comfortable reporting unethical concerns. Examples of ethics concerns: Employment Relations: alcohol and drug abuse; fraternization; violence or violent threats; discrimination/harassment against "protected classes" as described in the Global Statement of Ethics; retaliation for reporting ethics concerns. Wal-Mart does not own, operate, or manage any factories, however; the Global Ethics Office manages is a guide used a formal process to investigate voiced concerns by a factory employee and...

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