VALUES AND ETHICS

During 2009 ‘sustainability – build for a better future’ was launched as the seventh Woolworths value, entrenching its importance in the cultural fabric of the organisation, and joining ‘quality and style, value, service, innovation, integrity and energy’ as the compass for decision-making at Woolworths.

The revised Woolworths code of ethics was also approved during 2010.

Woolworths participated in a corporate ethics research programme run by the Ethics Institute. Further internal awareness and research was done via a staff culture and values survey that set a benchmark for ethics awareness, against which improvement targets have been set.

As a company we have a zero tolerance policy towards fraud, theft, corruption or any similar illegal behaviour.

Fraud and shrinkage

We will take disciplinary action against any employee who is involved in, or assists with committing fraud, theft and corruption. In terms of the company’s disciplinary code, involvement in these acts is a dismissible offence. We continue to promote the Tip-offs Anonymous line run by Deloitte and the rewards for information which leads to successful preventions of fraud and shrinkage.