The two retail companies picked are Walmart and Costco whose 2017 Financial statement links are provided below: WALMART https://www.nasdaq.com/symbol/ wmt/financials?query=income- statement COSTCO https://www.nasdaq.com/symbol/ cost/financials?query=income- statement Both organizations are well known brands and position themselves well with their customer base. Walmart’s value proposition is “We save people money so they can live better”. On the other hand, Costco’s value proposition is “All-in-one convenience and everyday affordability”. Both retailers focus on cost saving for their customers. Looking at their financial statements and by analyzing them a few key areas are evident when comparing the two organization. Looking at the current ratio and quick ratio we can determine the short-term solvency of each organization. The current ratio can be determined by dividing the assets by the liabilities. Walmart’s current ratio sits at 0.86 while Costco’s sits at 0.99. The quick ratio is c...
In every industry, a code of conduct is important for managers, as a workforce can not move forward without integrity from its leaders. The best managers place a high value on fairness and ethics, and their own performance as well. Not only do managers who create their own code of conduct benefit their workers, but they also often benefit the entire company’s public image ( Amico, n.d). This statement from the website Chron is crucial. It is easy to make rules and expectations but as a manager and leader you too must adhere to those guidelines as well. The leader sets the tone for the workforce that is why it is so important that they “Walk the Talk”. If the manager does not follow the code of conduct or show ethical behavior, then many will think why should I? Good managers are leaders and they need to set the example because workers are watching and learning from their actions. If a leader chooses to ignore some rules, then it can be expected that employees who see that behavior can and may mimic it as well. It is expected that a leader molds their employees to be the best representatives of the company by setting the example. There have been many scandals from managers not acting ethically in business. Along these lines, if financial institutions really want to create a culture of integrity, they must also establish a “tone". The chief financial officer and senior management will play a basic role in straightening tone at the top to behavior and actions in the center and on the front line through effective systems of management control, performance management, training, and “walking the talk” (Gould , 2013).
As I see it, management helps in forming the values and ethics of an organization because employee behavior, is a by-product of the organization's ethical climate. Ideally leading by example as a model as described by Taylor, A. J. (N.D.), is the manager's role in helping to create and maintain organizational integrity. Paine, L. S. (1994). The example they set affects how everyone behaves in the organization Bianca, A. (N.D.).
With the authority derived from the admiration and trust of staff, managers and management position holders who do not resort to unethical behavior are able to foster a reciprocating positive behavior, by acting as good role models for everyone in their assigned role, statuses and success. As a result, they contribute immensely towards creation of the organization's ethical climate Taylor, A. J. (N.D.).
Resorting to unethical behavior by managers and management position holders on the other hand will get others involved. They become the source of an unhealthy culture and contribute immensely towards the creation of the company's unethical climate Taylor, A. J. (N.D.).
Our new manager at my place of work has built an ethical atmosphere that has put our company in compliance with Joint Commission policies over the past five years. Employees and management alike have been very happy with this development which has gone a long way in boosting our productivity. By setting good examples all the time, she has succeeded in getting the cooperation of practically everyone to recognize our ethical obligations and the need to work together to ensure that they are met. There has been no sexual harassment, stealing of time, pilfering of items nor breaches of confidentiality. She resolves conflicts without partiality and recognizes contributions to the workplace by giving credit where credit is due and provides prompt feedback when needed. She promotes flexible work schedules, job rotations and cross training. Her moral character and hiring practices has contributed greatly towards ethics in our work environment.
SOURCES
Amico, S. (n.d.). Code of Conduct for Managers. Retrieved5 from http://smallbusiness.
Gould, S. (2013, November 5). Ethical Leadership and Developing a Code of Conduct for Organizations. Retrieved from https://www.ifac.org/global-
Paine, L. S. (1994). ⦁ Managing for Organizational Integrity. Harvard Business Review. Retrieved from:https://hbr.org/1994/03/
Taylor, A. J. (N.D.). ⦁ Ethics and Compliance Based Leadership Models: Essential to Compliance, and Performance. ACAMS. Retrieved from: http://www.acams.org/
Bianca, A. (N.D.) Examples of Ethical Behavior by Leaders or Managers Retrieved from https://yourbusiness.
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