BUSINESS ETHICS & CORPORATE SOCIAL RESPONSIBILITY

BUSINESS ETHICS

Moral principles concerning acceptable and unacceptable behavior by business people. Executives are supposed to maintain a high sense of values and conduct honesty and fair practices with the public.

Business Ethics towards various People

CUSTOMERS DISTRIBUTORSEMPLOYEES SHAREHOLDERS

SOCIETY SUPPLIERSINVESTORSGOVERNMENT

Big Retail Giant

Headquartered in Bentonville, Arkansas. Topped the list of Fortune’s Global 2000. Large Numbers of Customers. Over 2 million employees worldwide – one of

the largest private employers in the nation. World-Wide Business.

On July 2, 1962, Walton opened the first Wal-Mart Discount City store.

In 1968, it opened its first stores outside Arkansas. The company was incorporated as Wal-Mart Stores, Inc. on

October 31, 1969. In 1970 it had 38 stores operating with 1,500 employees and

sales of $44.2 million.

History of WAL-MART

SAM WALTON

In October,1970, Wall-Mart was listed on the New York Stock Exchange.

In the 1980s, Wal-Mart continued to grow rapidly, 1987- 2002. In 2002, it was listed for the first time as America's largest

corporation on the Fortune 500 list, with revenues of $219.8 billion and profits of $6.7 billion.

Growth during 2005 $312billion sales, 6,200 stores & 1.6 million workers .

Enter of new policies during 2007,2009 & 2010.

100 million customers every week. "Low prices, always" Helping Hands Helps in saving money. Private label brands.

Ethical Business Practice

WAL-MART and Workforce relations

Unethical Business Practice

Wages Working conditions

Health insurance

Gender and sexual orientation

Use of illegal workersChild labor violations

Labor union opposition

2010 Race Incident

Harm to endangered species

Utilitarianism theory : Own purpose V/s people benefits

Applying to Ethical Theory

• Wal-Mart has been subject to criticism by various groups and individuals.

• Labor unions, community groups, grassroots organizations, religious organizations, and environmental groups protest against Wal-Mart policies and business practices.

• Other areas of criticism include the corporation's foreign product sourcing, treatment of product suppliers, environmental practices, the use of public subsidies, and the company’s security policies.

• Wal-Mart denies doing anything wrong and maintains that low prices are the result of efficiency.

CONCLUSION

“Man’s ethical behavior should be based effectually on sympathy, education and social ties and needs; no religious basis is necessary. Man would indeed be in a poor way if he had to be restrained by fear of punishment and hope of reward after death”

-Albert Einstein.