This discussion paper examines the ethical and governance failures within the Walmart case, focusing on the responsibilities of corporate directors. It highlights the legal, ethical, moral, and corporate social responsibility implications arising from Walmart's actions, specifically addressing the company's involvement in corruption across multiple countries. The paper delves into the directors' fiduciary duties, emphasizing the importance of ethical decision-making and the potential consequences of neglecting these responsibilities. It analyzes the application of ethical theories like utilitarianism and deontology, along with the challenges of ethical relativism in a global business context. Furthermore, the paper explores the moral implications of the case, the importance of corporate social responsibility, and provides recommendations for directors to address challenges in upholding ethical standards, such as implementing comprehensive codes of ethics and robust internal controls. The paper concludes by emphasizing the need for directors to prioritize stakeholder interests and ensure ethical conduct in corporate management.
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