ETHICS

“Personal and moral integrity is one of our basic fundamentals and it has to start with each of us.” -Sam Walton
http://ethics.walmartstores.com/StatementOfEthics/MSGFromCEO.aspx

Ethic Statement


A few statements in Wal-Mart’s ethic statement:
· Always act with integrity.
· Lead with integrity, and expect others to work with integrity.
· Follow the law at all times.
· Be honest and fair.
· Reveal and report all information truthfully, without manipulation or misrepresentation.
· Work, actions, and relationships outside of your position with the company should be free of any conflicts of interest (discussed later in this guide).
· Respect and encourage diversity, and never discriminate against anyone.

Quotes


http://ethics.walmartstores.com/WalMartEthics.pdf
"Don’t compromise your reputation. It’s a precious commodity. Don’t compromise your integrity ... have a good name." -Sam Walton
"Personal and moral integrity is one of our basic fundamentals and it has to start with each of us." -Sam Walton

Presidential Citation

"An American original, Sam Walton embodies the entrepreneurial spirit and epitomizes the American dream. Concern for his employees, a commitment to his community and a desire to make a difference have been the hallmarks of his career. By sponsoring scholarships for Latin America, he has also worked to bring peoples closer together and to share with others the American ideals he so well represents. A devoted family man, business leader, and statesman for democracy, Sam Walton demonstrates the virtues of faith, hope, and hard work. America honors this captain of commerce, as successful in life as in business." www.encyclopedia.com/topic/Sam_Walton.aspx Sam Walton saw ideas as being common property. He said that it was what you did with them that made you different. He knew when an idea was a good one, but he also knew that every idea can be improved on. (http://www.managersrealm.com/2007/07/the_common_sense_management_of_92.html )

Policies


He had an open door policy on the financial information of Wal-Mart since he valued his employees as partners in the company. He was a penny pincher since childhood and he built this philosophy into his company. This way of thinking helped him to always offer the lowest prices because he always aimed at keeping costs low. Then, instead of pocketing the profits, he would pass the savings on to customers. (found as common knowledge on multiple sites)