Walmart's Statement of Ethics

Walmart’s Statement of Ethics has been around since Sam Walton started the company in 1962 and has since stuck to its value-based beginnings. The Statement of Ethics applies to all associates, members of the board of directors, and third parties’ involved with Walmart’s business. The statement can be summarized by its three ‘Basic Beliefs’ which include; respect for the individual, service to our customers, and striving for excellence. They also have a long list of guiding principles to lead employees in the right direction. Some of these principles include; ‘be honest and fair, follow the law at all times, reveal and report all information truthfully, and always act with integrity.’ Walmart’s Statement of Ethics was very long, around 34 pages, but was broken into sections that made it easy to read and understand. There is also a webpage dedicated to the Statement of Ethics that helps summarize Walmart’s desired values and company conduct. After reading through most of it, it was more aimed at exposing Walmart’s values rather than a defensive sounding legal document.

When comparing Walmart’s Statement of Ethics with the Sarbanes- Oxley I came across many requirements that Walmart’s code includes. When reading through Walmart’s ethical code I saw the words ‘fair’ and ‘honest’ plenty of times, and this came directly from the Sarbanes-Oxley requirement list. There were also noticeable similarities with Walmart’s Statement of Ethics and NYSE Listed Company Manual. Under Walmart’s guiding principles there was a statement about avoiding conflicts of interest which was also a rule in the NYSE manual. In both of the documents there was big emphasis on being fair to all customers, suppliers, competitors and employees.

Boatwright’s seven ethical principles “that express all of business ethics” and Walmart’s Statement of Ethics go hand in hand. When looking at the seven principles, the Statement of