Legal, Cultural, and Ethical Challenges Paper
As the United States economy waxes and wanes, commerce in the workplace changes to create new ideas for more and better sales. Global outreach for company expansion has taken the new economic conditions by storm for the consumer and American corporations. Company core values are built on the foundation of ones ideas and broadcast through marketing of the mission statements.
Aligning a mission statement to create sales and a good public image can be even harder. The Lowe’s vision is: We will provide customer-valued solutions with the best prices, products and services to make Lowe’s the first choice for home improvement. This statement for retail sales establishes the basic thought of retail sales. The focus of this paper will be to discuss the legal, cultural, and ethical environment and how it relates to the Canadian and Mexican expansion of the corporate giant Lowe’s.
Legal, Cultural, and Ethical Challenges Paper Essay Example
I was taught the difference between right and wrong and found that growing up in a large family meant nothing is fair. My children are not allowed to use the term “not fair”. They must determine if the situation is right or wrong based on their own values. As the foundation of my personal beliefs, right and wrong is subjective and part of the decision making process. Working for Lowe’s, it is not in my current job description to determine what is right and wrong. We have to mold our decisions around the values established by the company we work for.
Within the guidelines of an organization, employees must find new ways to creatively use the establishment or the foundation already in place and set new standards in sales and service. Lowe’s has created a working model for success that aligns itself with modern day global business practices. Through expansion to both Canada and Mexico, Lowe’s has proven the Building Blocks for Success has bridged any cultural and ethical complications.
Business practices designed for practical application here in The United States have crossed land barriers, water barriers, and language barriers. Honesty, dignity, elf-respect, and respect for life and other people, combined with trust and trustworthiness are several values that guide management decisions. They are also the tools that Lowe’s expects employees to use when making sales and business decisions on behalf of the organization. Almost all decision can be justified when using these values as determining factors. It is clear that the United States protects consumers and businesses through government regulations and common practices. Creating a Corporate structure allows common practices throughout an organization, even when that organization crosses international borders.
The research can be intense but the rewards for proper legal practices of an organization will ensure success when conducting commerce in foreign lands. Lowe’s values its reputation for complying with applicable governmental laws, rules and regulations in the conduct of its business. Therefore, every Employee, while acting on behalf of the company, shall comply with all applicable domestic or foreign governmental laws, rules and regulations, and should avoid engaging in any conduct that, even though legally permissible, is inconsistent with the ethical principles to which Lowe’s subscribes.
This policy is created through legal departments established for creation of global business and expansion. The globalization process simply expanded store sales. Imports and exports are created every day to ensure the least amount of expenses towards the cost of doing business. As business practices continue to change the foundations remain the same globally. This principle means that businesses involved in exporting and importing goods and services can expand beyond their own countries borders for distribution of services.
Purchasing agents employed by the Lowe’s team specialize in finding the goods and services necessary to support local economic conditions. These goods and services not only assist the local economy, but also support the profits needed to continued success. As with any company expansion into a foreign country, the largest challenge for Lowe’s will be the impact on the local economy. The basic question of acceptance by the community will determine future sales. Any time a large retailer shows up there is a chance of lack of community support through loss of local businesses.
Lowe’s creates competition for small companies but can also create guaranteed sales for the local companies that want to participate in the corporate successes. Lowe’s has created locally owned companies to assist in marketing and sales of products offered through the retail store. One of the biggest services Lowe’s offers the local economy is the cash flow and purchasing power necessary to finance local change. Most governments will welcome large corporations to the economy simply to assist in creating better trades and services. As mentioned before, Lowe’s creates sales through cash flow into the local economy.
These sales generate taxes and increase property values and can help stabilize local markets. The number of legal, cultural, and ethical variables will increase with continued business. Lowe’s has the purchasing power and corporate backing to leap most hurdles placed in the path to success. Challenges can be overcome using foreign policy established with the local market in mind. Researching the variables presented and creating proactive countermeasures for individual situations will ensure changes necessary for future activity and sales.