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Importance of ethics in business in making ethical decision
Walmart business strategies and corporate strategies
Managing Business Ethics: quizlet
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Introduction
Contrary to the belief that Walmart isn’t good for America, is the idea that we should as an American society should support Walmart in an effort to keep our economy strong. An America without Walmart would have a detrimental impact to the economy overall. The position that Walmart holds within our retail industry is so impactful that it is enough to say we will pick lesser of two evils. Every company or corporation has areas within their human resource management and operations where they need to be improved or addressed.
It is relatively easy for Americans and Walmart activists to point out the faults of the Walmart Corporation because they are so huge and are constantly in the spotlight of social media. When such a large corporation can be demonized for issues that can occur within any other company, it makes it difficult to shake that negativity out of the consumer mind frame. I am not dismissing the fact that there are some real management issues that need to be addressed within the Walmart Stores and a couple of corporate issues that should be addressed to improve public relations or the corporate image. I do believe that it is jumping the gun to question or promote the idea of an
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America without Walmart. There is always room for improvement and development. In order to look at the Walmart Corporation objectively, we need to break down their management philosophy and identify if this is the industry standard or are they expected to raise their standards because of their noteworthy position within the retail industry. Now, while maintaining an open mind frame, I think it’s imperative that we understand the original foundation and philosophies that Walmart was built on. Walmart was established, by Sam Walton in 1962 and he had the honor of watching it grow to the largest retailer in America (Huey, 1992). Walton established his Walmart Empire on the “philosophies of excellence in the workplace, customer services, and always having the lowest prices” (Huey, 1992). Walton’s philosophies of excellence were so impactful and inspiring that if the current Walmart re-adapted the philosophical foundation that Walmart was built on then there wouldn’t be so much scrutiny. Mr. Walton wanted to emphasize the importance of commitment not only from his leadership team but from all employees within the company as well. “Believe in it more than anybody else. I think I overcame every single one of my personal shortcomings by the sheer passion I brought to my work. I don’t know if you’re born with this kind of passion, or if you can learn it. But I do know you need it. If you love your work, you will be out there every day trying to it the best you possibly can, and pretty soon everybody around you will catch the passion from you – like a fever” ( Huey, 1992). One of the biggest issues within today’s Walmart identity is that they do not compensate their employees fairly and Mr. Walton’s original ideology to enrich their employees with a “stake” in the company should be overemphasized so that it’s recognized company-wide and publicly (Huey, ). “Treat them as partners. In turn, they will treat you as a partner, and together you will all perform beyond your wildest expectations. Remain a corporation and retain control if you like, but behave as a servant leader in a partnership. Encourage your associates to hold a stake in the company. Offer discounted stock, and grant them stock for their retirement. It’s the single best thing we ever did.”(Huey, 1992). I think the true issue is that the employees are not aware or knowledgeable in the area investments or how retirements work, let alone owning stock within the company. They don’t even realize that they are or can be an even bigger stakeholder within the company. A possible solution would be a more in-depth presentations or training packets for employees to encourage “partnership” ideology (Huey, 1992) If Walmart can encourage and educate the value of the benefits package, there is a greater chance of appreciation. The employees at Walmart view being an associate, as just a job, but Sam Walton viewed his employees as partners and had every intention to motivate, as well as communicate effectively. Walton knew that incentivizing was not enough to keep the Walmart machine going. “Money and ownership alone are not enough. Constantly, day by day, think of new and more interesting ways to motivate and challenge your partners. Set high goals, encourage competition, and then keep score. Make bets with outrageous payoffs. If things get stale, cross-pollinate; have managers switch jobs with one another to stay challenged. Keep everybody guessing as to what your next trick is going to be. Don’t become too predictable.” (Huey, 1992) “The more they know, the more they will understand. The more they understand, the more they will care. Once they care, there is no stopping them. If you don’t trust your associates to know what is going on, they will know you don’t really consider them partners. Information is power, and the gain you get from empowering your associates more than offsets the risk of information your competitors.”(Huey, 1992). He knew that the continued success of Walmart was dependent on the motivation and communication to all partners within the company. One of the principals that Mr. Walton wanted his management team to demonstrate and incorporate was listening to the ideas and concerns of the partners on the floor. This principal alone could help better understand the workflow of the operations and identify areas of improvement. “Figure out ways to get them talking. The folks on the front lines – the ones who actually talk to the customer – are the only ones who really know what is going on out there. You better find out what they know. This really is what total quality is all about. To push responsibility down in your organization, and to force good ideas to bubble up within it, you must listen to what your associates are trying to tell you.”(Huey, 1992). So many times this management attribute can be overlooked and not practiced. Being a member of management is easy, but being an effective member of management makes all the difference. Effective managers have the quality to be able to listen and observe before speaking and acting. The most powerful and effective initiatives that the Walmart Corporation can do is re-incorporate the values and principles that Sam Walton first established as Walmart’s foundation.
When the question is raised regarding whether or not Walmart is good for America? The answer should be “yes they are good for America” because there is always room for improvement and they need to get back to the roots or foundation of the original management philosophies that Sam Walton worked so hard to establish. The Walmart Corporation has had some issues that have been publicized to a larger extent that other companies, but it can be remedied. An American without Walmart would be economically disastrous, so it is better to fix and fine tune compared to the idea of complete
discard.
Wal-Mart, a "Big-Box Retailer" employs more than 2.1 million associates worldwide and has two-thousand seven-hundred stores in the United States with many more in Argentina, Brazil, Canada, Central America, Chile, China, Germany, Japan, Korea, India, Mexico, Puerto Rico, and the United Kingdom, making Wal-Mart the largest retailer in the world. "Wal-Mart accounts for upward of 30 percent of U.S. sales, and plans to more than double its sales within the next five years" (Lynn 29-36). Why is Wal-Mart so successful, and is Wal-Mart actually bad for America?
Within an excerpt from, “The United States of Wal-Mart,” John Dicker explains that Wal-Mart is a troubling corporation. Dicker begins his article by discussing why the store is so popular within the news in an age of global terrorism, coming to the conclusion that Wal-Mart has a huge scope in the United States and that it has more scandals, lawsuits, and stories than any other supercenter. Continually, he goes on to explain that Wal-Mart outsources jobs and their companies demands makes it hard for employees to have livable wages and good working conditions. Furthermore, Dicker addresses the claim that Wal-Mart provides good jobs, by destroying this perception with statistics showing how employees live in poverty and that their union scene
Besides all the points that I have stated, Wal-Mart has had to pay fines due to breaking Child Labor laws and Illegal Immigrant laws; fines up to $11.5 million for just those two types of laws. Wal-Mart is not good for this economy, for the people, and the company, in a whole, is criminal. If the people let Wal-Mart stay on the track it is on, the United States will not have anything but Wal-Marts. Wal-Mart will become a monopoly and put everyone, who started with something more than greed, out-of-business.
Few companies create as much controversy as Wal-Mart has done with its approach to maintaining high profits with low costs. Individuals either love or hate Wal-Mart. There are consumers who like the low prices and convenience of shopping at Wal-Mart. Supporters of Wal-Mart also laud the fact that the company creates multiple jobs for not just the individuals who are employed within the stores but also those who create the products that are sold in the stores. Critics of Wal-Mart have issues with the treatment of those individuals who work at Wal-Mart. Wal-Mart has a poor track record when it comes to Fair Labor Practices by giving low wages, bad healthcare coverage, and treats employees. Low wages, no benefits, irregular schedules, and unreliable hours are just some of the horrible working conditions most Walmart workers have to endure.
The fact is that Walmart pays its employees a minimum of nine dollars per hour, which is more than the federal minimum wage at seven dollars at seven dollars and twenty-five cents per hour. Additionally, Walmart does provide their employees with basic health benefits. Still, critics demand that Walmart pay their employees more and provide more health benefits, but rising costs would result in higher prices which would result in less purchasing power. That is not good for the economy. What critics fail to comprehend is that a job at Walmart earning minimum wage is not a full-time job but a part-time job, as employees should be going to college or looking for other higher paying jobs. Overall, it’s the same exact situation as the “Mom and Pop” farce and every other complaint, like price discrimination and predatory pricing; Walmart is following a business model that gives consumers the goods and services they crave at affordable prices and a low cost for Walmart. Walmart’s practices are ethical, legal, profitable, and exemplify the principal of the free market system, so any American that claims that Walmart should be targeted for its practices are virtually asking the government to target the foundation of the American economic system. In addition, those same people are asking for
Its size, power, and low prices are what make Walmart so helpful to America. So why do some people think that Walmart is so bad for the American people? Many people believe that this is a true debate. Everyone has his or her own point of view. If you think about it, is Walmart really good for America? Walmart has made many changes since it was first opened in 1962, by Sam Walton. By August 31, 2014 there were 11,095, retail Walmart stores and there were 642 Sam's Club's. After going over all the facts, Walmart is good for America.
The simple question, is Walmart good for America. My classmates whose views differ from mine are more concerned with a few individuals that Wal-Mart may have had an adverse effect on. These people are only a small part of what makes up The United States of America, this question is for the greater good of the country not a few individual who need to better adapt to changing times. Wal-Mart is good for America, because it keeps us involved in world trade, sustaining our economy, the corporation is groundbreaking constantly, applying new innovations and efficiencies, and it keep the interests of the consumer to heart.
A prior market firm used by Wal-mart (GSD&M) warned Wal-mart of the public image issues they were facing and had not addressed, even though they had been advised of them for over two years. GSD&M wrote in one review to the company that “sadly, after two years of empty rhetoric and ineffective publicity stunts, we now know that Wal-Mart has not only needlessly hurt its Associates and their families, but has pointlessly hurt the image and success that Sam Walton built.” (wakeupWalMart.com, 2007). Wal-mart has acted in a manner that blends with the theory of egoism. This theory “sets as its goal the benefit, pleasure, or greatest good of the oneself alone.” (wofford.edu, 1997). “Egoist use personal advantage…as the standard for measuring an action’s rightness.” (Shaw, 2008, p. 45). Clearly Wal-mart today is acting with interests geared toward their personal advantage and not considering the wreckage it is leaving all around them.
Wal-Mart represents the sickness of capitalism at its almost fully evolved state. As Jim Hightower said, "Why single out Wal-Mart? Because it's a hog. Despite the homespun image it cultivates in its ads, it operates with an arrogance and avarice that would make Enron blush and John D. Rockefeller envious. It's the world's biggest retail corporation and America's largest private employer; Sam Robson Walton, a member of the ruling family, is one of the richest people on earth. Wal-Mart and the Waltons got to the top the old-fashioned way: by roughing people up. Their low, low prices are the product of two ruthless commandments: Extract the last penny possible from human toil and squeeze the last dime from its thousands of suppliers, who are left with no profit margin unless they adopt the Wal-Mart model of using nonunion labor and shipping production to low-wage hellholes abroad." (The Nation, March 4th 2002 www.thenation.com/doc.mhtml?i=20020304&s=hightower).
Walmart is a company that can be seen from many different perspectives. Due to its vast size; it can be easy to identify its faults and environmental issues surrounding the company. However, they are well aware of these problems and criticisms and have made many efforts towards issues around the world. The motivation and desire Walmart have to improve the world we live in today can be seen through their treatment of employees, suppliers as well as their efforts towards the environment and other humanitarian issues. Given this, there is still endless resources on the web proving the company to be one of a negative burden on society.
Wal-Mart has been of a great advantage to the US economy, being the world’s largest private employer thus providing more jobs. Wal-Mart is currently employing 1.5 million which equals to the population of 12 states. In addition, Wal-Mart has caused the lowering of prices of competitors known as the ‘Wal-Mart effect’, this saved Americans approximately $100 billion in 2002. (Hansen) On a smaller degree, this caused an individual American to save 15 to 20 percent of their income on necessities, allowing the surplus to be utilized in a fashion that allows an expenditure which fulfills a specific luxury to the individual, for example a car etc.. From my point of view, this allows the less advantaged to be able to purchase beyond necessities, and causing more money to spread through the market rather than the recycl...
To this day, when I walk into Wal-Mart and come face to face with a manager I once worked under they give me dirty looks. People report that managers will trash talk you to another job that applied for if that job contacts Wal-Mart about you. Wal-Mart has unrealistic workloads for some overnight stockers, their managers aren’t the best in the world, and their policies are harsh. This is why I constantly call Wal-Mart a communist regime; not because it shares the ideals but because it is just bad for everyone in general. Hopefully one day a high positioned power will restore the order and peace that once was Wal-Mart according to the history they teach you in training and that their policies and workloads may become more realistic and doable.
and 2000 for a spokesperson had publicly mentioned that more than two thirds of our people are not trying to support a family that 's why our jobs are designed for, and yet it seems that they 're low wages and 2000 for a spokesperson had publicly mentioned that more than two thirds of our people are not trying to support a family that 's why our jobs are designed for, and yet it seems that they 're low wages don 't even support those who aren 't trying to support a family. So who do they help? Walmart doesn 't provide adequate healthcare, the healthcare isn 't just for the family it is for everyone who would like good health. But while Walmart has its downs it also has a few pros, like their genius inventions such as the Telon, And their ingenuity have helped make and bring Walmart to the top. They have intelligently used their barcodes on products to bring about information, such as how many our soul, how many are expected to be sold, prices and even discounts. Then Walmart brilliantly patented the idea so if other competitors want to stay in the game, they have to buy this idea from Walmart just to keep up with Walmart. It 's pretty brilliant when you think about it. They also use a open price system where you are drawn into a department by the low prices they stick in front and you stay because you assume that other products in this department will have similar low prices, when in reality they might be more expensive than other
Few companies create such controversy as Walmart has done with its approach to maintaining low costs for everyday items. People either love Walmart because of this approach to keeping prices down or hate it due to the effects it has on the economy. There are a lot of arguments surrounding the minimum wage and employee rights at Walmart. There seems to always be a news article about some employee protest about the wages or how they are treated. Walmart is viewed as an enormous firm that does not take care of its employees because of its minimum wage, treatment of its employees, and how it deals with lawsuits.
Walmart has had a long-standing presence in America society since the middle of the 20th century, seen as a place to get everything done, Walmart has become a fixation in our society. From grocery shopping, to changing your oil and even filing your annual tax returns, Walmart is always there, everyday. Started by Sam Walton in 1962, it began as a small operation catering to a small Arkansas community. It was started on principles very similar to small local businesses in small towns. Today Walmart has gotten a different, darker reputation. On the surface, Walmart may seem like the solution to everyday issues. Low-income families are attracted to the low prices, and people who work odd hours benefit greatly from the 24 hours a day that many Walmarts are open. Lately, Walmart has also managed to be publicly recognized as a store that sells many of today’s green products, including organic food, environmental conscious cleaning products, as well as, paper products made from recycled paper. However, underneath all this, Walmart has a different side. Exploitation of its workers is widespread amongst Walmarts who do not belong to a union, especially in the United States. Wal...