My feet generally point outwards when i am walking or standing and if i point my feet straight my knees are turned in slightly. is this something i should be concerned about and if so are there any stretches/exercises to alleviate that?

I would guess that you're a slow runner. You can train your self to walk without your feet turned outwards and I think you should. Perhaps a physical trainer or a physical therapist can instruct you on proper technique to prevent injuries to hips,knees,buttocks,etc. . You could also google techniques to fix duck walking.

You were born with a structural deformity. This does not necessarily have to be a problem however if you try to run or other types of exercises may be a problem. A podiatrist is very knowledgeable in biomechanics and how the lower extremities function. Sometimes custom orthotics are required. It has been suggested trying to stretch it on your own can help.