Internal Control and Home Improvement
Ethics in Corporations Lowe’s Home Improvement is a chain of retail home improvement based in the United States. It was founded in 1946 in North Wilkesboro, North Carolina. Lowe’s Home Improvement has expanded internationally into Mexico, Canada, and joint venture with Woolworths Limited in Australia. Lowe’s Home Improvement ranked 54 in Fortune 500 for 2012, decreasing four spots in 2011 ("Cnn money," 2012). Lowe’s Home Improvement is the second largest retail home improvement chain, behind The Home Depot. There are 1,724 Lowe’s stores throughout United States, Canada, Mexico operating with more than 234,000 employees ("Lowe 's home improvement, 2012”). Stakeholders are individuals, groups, or organizations that have a stake in the business. Stakeholders are categorize into two types: internal or external. Internal stakeholders can be owners, managers, and employees. External stakeholders can be suppliers, lenders, and customers (Worthington, 2009).
Human Resource (Safety) There are many safety rules in Lowe’s Home Improvement. “We strive to sustain a safety culture that integrates safety into all parts of our business. Safety is a core value of our company. We hold our leadership teams accountable for creating and maintaining a safe environment to work and shop. Safety practices are incorporated into each job task, and we believe training is critical to ensuring safety awareness and knowledge are maintained at the highest level” ("Focusing on safety," 2012, p. 1). When I was the Department Manager of Product Service, I was in charge of 70 percent of all resets in the store including display changes, merchandising refresh, and general product rotation. As an internal stakeholder (manager), I knew all the rules. However, some of these rules prevented me from accomplishing my job. Sometimes resets require me to get inside the bay to maneuver the products, beams, or shelves. This is strictly against Lowe’s policy, which states I should get an order picker
Human Resource (Safety) There are many safety rules in Lowe’s Home Improvement. “We strive to sustain a safety culture that integrates safety into all parts of our business. Safety is a core value of our company. We hold our leadership teams accountable for creating and maintaining a safe environment to work and shop. Safety practices are incorporated into each job task, and we believe training is critical to ensuring safety awareness and knowledge are maintained at the highest level” ("Focusing on safety," 2012, p. 1). When I was the Department Manager of Product Service, I was in charge of 70 percent of all resets in the store including display changes, merchandising refresh, and general product rotation. As an internal stakeholder (manager), I knew all the rules. However, some of these rules prevented me from accomplishing my job. Sometimes resets require me to get inside the bay to maneuver the products, beams, or shelves. This is strictly against Lowe’s policy, which states I should get an order picker
References: Bachman, K. (2012, May 16). Sketchers settle deceptive ad case with FTC for $40m. Retrieved from http://www.adweek.com/news/advertising-branding/skechers-ad-case-ftc-40m- 140577 CNN money. (2012, May 21). Retrieved from http://money.cnn.com/magazines/fortune/fortune500/2012/snapshots/2686.html Edmonds, T., Tsay, B., & Olds, P. (2006). Fundamental managerial accounting concepts. Retrieved from http://highered.mcgraw- hill.com/sites/0073526797/student_view0/ebook/chapter1/chbody1/ethical_consideration s.html Focusing on safety. (2012). Retrieved from http://www.lowes.com/cd_Focusing on Safety_323526845_ Lowe 's Home Improvement. (2012). Retrieved from http://www.lowescreativeideas.com/social/our-vision-and-values.html Slodkowski, A. (2012, September 25). Japanese camera and medical equipment maker Olympus Corporation and three of its former executives pleaded guilty on Tuesday over charges related to a $1.7 billion accounting cover-up in one of Japan’s biggest corporate scandals. Retrieved from http://www.reuters.com/article/2012/09/25/us-olympus-trial- idUSBRE88O01920120925 Worthington, I. (2009, February 09). Improvement and innovation. Retrieved from http://www.improvementandinnovation.com/features/article/stakeholders-and-how-they- affect-your-business/