Ethics and Compliance Ã¯Â¿Â½ PAGE \* MERGEFORMAT Ã¯Â¿Â½4Ã¯Â¿Â½
Running head: ETHICS AND COMPLIANCE AT LOWE'S
Ethics and Compliance at Lowe's
University of Phoenix
May 20, 2009
"With fiscal year 2008 sales of $48.2 billion, Lowe's Companies, Inc. is a FORTUNEÃÂ® 50 company that serves approximately 14 million customers a week at more than 1,650 home improvement stores in the United States and Canada. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world." (2008) This paper will assess the roll of ethics and evaluate the financial performance of the Lowe's corporation.
Companies such as Lowe's and Home Depot Inc. are as detailed as possible when writing the ethical standards that form the businesses foundation. These ethical guidelines are implemented within the organization by the employees to provide the best possible business to all customers as well as to follow the regulations that SEC has incorporated to protect the investors.
These ethical guidelines are incredibly detailed and include everything from commitment to stockholders, compliance with laws and regulations that includes financial controls to code of ethics for senior financial officers. In the Lowe's code of conduct they state, "Each Employee will conduct all dealings with Lowe's customers and suppliers fairly and will compete honestly and ethically. Employees should not seek to obtain any advantage for the company by manipulating or concealing facts, misusing privileged information, misrepresenting material facts or otherwise acting illegally, unfairly, dishonestly or unethically." (2008) Lowe's feels that their employees are representatives in every aspect of the company, and therefore, should conduct themselves with the highest level of integrity. The following statement sums up how Lowes feels about compliance to laws and regulations, "Lowe's values its reputation for complying with applicable governmental laws,