- April 21, 2012
- Posted by: essay
- Category: Sample essay papers
Code of Business Conduct and Ethics
The Lowe’s Company, Inc., is the 19th largest employer in the nation and 14th largest retailer worldwide with over 215,000 employees and 1625 stores. The company must have strict code of ethics and compliance policies in place to maintain order within a large organization. One of the main areas of concern is ethics and business conduct in the workplace. Lowe’s values its reputation for complying with applicable governmental laws, rules and regulations in the conduct of its business.
The Lowe’s companies and the subsidiaries refer to the ethics and business conduct as the Code. The Code applies to every employee and board members as well. The Code provides guidance and a framework to assist employees in their everyday work day. The Code provides specific information should a situation arise that the employee may face. When there is an issue that arises that is questionable, the employee may address the company’s policies and procedures on the company intranet website or contact the company’s general counsel.
The following are some of the highlights of Lowes’ governing ethics and compliance rules and regulations. All employees should avoid conflict of interests, both on a personal level and family level. In for any reason that personal or family issues interfere with your objective work ethics then this may be a potential conflict of interest.
This rule applies to all Directors Chief Executive Officer and Lowe’s Board of Directors otherwise the Governance Committee of the Board f Directors and the General Counsel will determine if any action is in direct violation of this policy. The remaining policies apply to all employees. The Code also addresses Lowe’s ethical business practices, such as fair dealing, corporate opportunity and loyalty, confidential information, payments to government officials, accurate books and records and adherence to internal financial reporting, protection and proper use of company assets, public company recording, insider trading, and intellectual property and finally employee relations.
The Lowe’s Companies does evaluate and report any violation of the Code. The Lowe’s Companies will conduct an informal inquiry and if necessary file a formal investigation. There are several areas in which a violation may occur and depending on the circumstances the following departments of Lowes may be involved: Loss Prevention, Legal, Humana Resources and Internal Audit. There are also disciplinary actions that may be necessary depending on the findings and the severity of the violation. These actions may warrant dismissal, demotion, suspension or even criminal and civil action. The Code can be updated or changed upon suggestion from the Governance Committee of the Board of Directors and subject to the disclosure of the Securities Exchange Act of 1934 and the Corporate Governance Rules of the New York Stock Exchange.