Ethic Level of Big Companies: Wal-Mart's Ethical Issue (Research Paper Sample)
Thesis statement: the meaning of ethic is the discipline dealing with what is good and bad and with moral duty and obligation. In those companies, how well did they do when it comes to ethical problems. And what is the Church's teaching about ethic when it comes to industry.source..
Ethic Level of Big Companies
Ethics is the accepted principles that govern an individual's behavior or how activities are done including how companies operate. The principles determine what is wrong and right with moral duties and obligations. Several large companies globally have faced ethical problems and they have tried various ways to solve the challenges. The ethical problems majorly tarnish the companies' reputations and reduce their sales and profitability. Hence, in most cases, such companies attempt to hide the challenge they are facing from the outside stakeholders. Therefore, the work covers the best ethical principles that the firms have adopted in dealing with their challenges and the teachings of the church regarding the operations of the companies.
Wal-Mart's Ethical Issue
Wal-Mart is the largest US multinational retail shop that operates hypermarkets, grocery stores, and discount department stores. The mission of the firm is to save peoples' money and raise their social welfare. Most of the products of the company are fairly priced to improve its economies of scale. More so, the company has several branches in over 27 nations and has over 10,700 stores with approximately 2 million employees. Despite the size and reputation of the company, it engaged in an unethical practice that was discovered in 2012 for not abiding by the US and Mexican laws in its operations. The principle requires that companies abide by the regulations, laws, and rules relating to their business operations. In the year 2012, the company was sued for bribing Mexican government officials to allow it open new branches in the nation unlawfully. The firm paid a total of more than 24 million dollars to the officials to be granted the favor of opening the subsidiaries unlawfully which could have cost the company a lot of money if it could have followed the required procedures (Heineman n.p). More so, one of the firm's CEO decided to rebuke investigators regarding them as being aggressive on the issue after being bribed to do so. However, the chairman reviewed the allegations and decided to continue the investigation. The bribery scandal violated the US and Mexican laws and it greatly tarnished the company's reputation. The issue was regarded as an accounting fraud because of the direct payments that the firm made to the Mexican officials. Currently, Wal-Mart has accepted the claim and is ready to pay several millions of dollars to solve the problem.
According to (Deut. 6:4-5), the Bible states that we should love our God with all our soul and might. The commandment is considered the greatest in the entire Bible. Further, the Bible expounds that the greatest concern that we have with God is by obeying the rules and this also proves that we are in a relationship with him. Similarly, in (Luke 20:25), Jesus explained that ‘'Give Emperor what belongs to him and God what is God's.'' The statement means that people should obey the rules provided and pay taxes to the government as provided by the laws. Therefore, Wal-Mart should have followed the rules provided by the Mexican government and pay the money required directly to the government instead of directly bribing the officials. The act amounts to unethical practice which even the Bible does not support.
Target Ethical Problem
Target is the second largest discount retail store in the US. The firm is a general merchandise retailer that sells commodities through its digital channels and stores. The company sells edited food assortment such as dry grocery, frozen items, and dairy products. Unluckily, the company engaged in an accounting scandal that involved artificially inflating its share prices by 40% to improve its spending and economic activities to avoid b...
- Educational Engagement and Early Family Formation: Differences by Ethnicity and GenerationDescription: Studies on Educational engagement and Family formations among other factors always have states attention....2 pages/≈550 words | 1 Source | MLA | Social Sciences | Research Paper |
- Ethic Level of Big Companies: Wal-Mart's Ethical IssueDescription: The work covers the best ethical principles that the firms have adopted in dealing with their challenges and the teachings of the church regarding the operations of the companies....7 pages/≈1925 words | 8 Sources | MLA | Social Sciences | Research Paper |
- Birthrates in the U.S.Description: The US is currently the third most populated country among the industrialized countries, with a population of 291 million after China and India...1 page/≈275 words | No Sources | MLA | Social Sciences | Research Paper |