- August 29, 2012
- Posted by: essay
- Category: Free essays
Ethics plays increasingly more important role in the contemporary business environment. In fact, modern companies cannot succeed and gain respect of business partners and customers without implementation of business ethics as an integral part of the organizational culture.
In addition, business ethics plays crucial role in the stability of internal relations within organizations. In this respect, such organizations as the Lowe’s Company Inc. develop their business ethics codes to meet ethical requirements of the contemporary business environment. At the same time, such codes also define basic processes within the organization which comply with the Securities Exchange Act regulations.
In fact, the company is extremely concerned with internal processes and relations of the company with its customers and business partners. In this respect, it is important to lay emphasis on the fact that the company attempts to make basic processes within the organization open, clear and comprehensible not only for employees but also for the business environment. To put it more precisely, the company’s business ethics code stresses the importance of fair dealing, which is one of the principle points of the SEC and which aims at the prevention of any kind of frauds. At the same time, the company respects the confidential information and avoids information breaches in order to prevent possible losses for stakeholders. In addition, to ensure the openness of the company and minimize the risk of frauds or unethical behavior the company maintains the public company recording which prevents any possibility of manipulations or unfair actions which could contradict to the SEC regulations.
Thus, in conclusion, it should be said that through the introduction of ethical principles and business ethics code, the Lowe’s Company Inc. meets the SEC regulations.