Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Walmart corporate responsibility
Walmart corporate responsibility
Walmart corporate responsibility
Don’t take our word for it - see why 10 million students trust us with their essay needs.
The corporate social responsibility is a commitment by a business to contribute to economic development while improving the quality of life for employees and their families’ as-well as contributing to the society. Walmart is a well-known company that offers customers the items they want and need at a low cost, with nearly 4,000 stores in the United States. According to the Fortune 500, Walmart was ranked number 1 in 2015. Just like any other superstore Walmart needs to continue the use of social responsibility by recreating a relationship between business and the community especially if they want to dominate the competition in 2016. The use of sustainability, strategic philanthropy, causing market, shared values, stakeholders and global perspective will help readers understand the purpose of social responsibilities in the corporate world.
Business Sustainability requires firms to adhere to the principals of sustainable
…show more content…
While keeping in mind they are a business which rely on profits. Walmart is a popular company that is known for their low prices. This corporation is also known for giving back to communities by making charitable contributions of 100,000 grants annually, as well providing disaster relief to various countries burdened by disasters and donated $100 million dollars to neighborhoods and law enforcement agencies. They also provide employees with college grants to obtain a two or four year college degree, Walmart is investing in their employees by giving them an advantage in their future. Walmart has also found ways to reduce waste by creating materials that are nontoxic and are recyclable friendly. With the use of sustainability, strategic philanthropy, causing marketing, shared values and stakeholder that is why this company was ranked number one by Forbes list in
But Wal-Mart’s care for us goes beyond that simple relationship. As many of us have seen if we have been to a Wal-Mart, they hire people who normally would not be able to get a job. The company knows that by broadcasting itself as positive and helpful in nature it can increase its revenue and in turn increase the amount of assistance it provides to us the consumer. “In 2004 Wal-Mart donated over $170 million. More than 90 percent of these donations went to charities in the communities served by Wal-Mart stores.’ Even more heartfelt than this, Wal-Mart was the leader in goods based relief efforts for victims of hurricane Katrina. “Walmart’s response to the hurricane was lauded even by its critics: it donated more than $20 million worth of merchandise, including food for 100,000 meals, and it promised jobs for all of its displaced workers.” And the first supply truck to arrive at the superdome was a Wal-Mart truck.
Regardless of what you think of Wal-Mart, Wal-Mart is continually voted as one most admired companies in America by Fortune magazine. This is how Jerry Useem began the article he wrote for Fortune magazine:
Walmart recognized several areas with the greatest environmental impact and began working towards sustainability in each of those areas. One area
Our textbook defines corporate social responsibility as “a business's concern for the welfare of society” (Nickels, 102) and that it “goes well beyond being ethical. It is based on a commitment to integrity, fairness, and respect” (102). By performing a social audit they can evaluate whether or not their policies and actions are actually providing the support they’re attempting to
The Wal-Mart Corporation is a multi-billion dollar low-cost retail organization, consisting of 6400 stores and 1.8 million sales associates worldwide. Wal-Mart’s influence on the retail world and the enormity of their corporate size is unparalleled. Wal-Mart can easily report sales of $312.4 billion dollars per fiscal quarter and net profits of $3.8 billion dollars. Wal-Mart promises her customers "Always low prices. Always!" and upholds this motto by providing low prices to her customers and high return on investment to her stockholders. One way that Wal-Mart has managed to maintain a competitive edge over other low cost retail giants and provide low prices is by cutting wages and by not offering too many company benefits to their employees. Full-time employee working at Wal-Mart only make $8 an hour, while only 45% of the workers can afford to be covered by health insurance. Wal-Mart also increase part time employees from 20 percent to 40 percent so that they do not have to cover all of their employees for health insurance . Although Wal-Mart may not provide excellent benefits to her employees, it successfully performs as a legitimate business operating in a capitalistic society. Wal-Mart upholds the primary fiduciary duty to satisfy her stockholder and follows free the market libertarianism model, which states that a business should not interfering with the free market. In a free market Wal-Mart has a direct responsibility to her primary stockholders rather than the employees of a company.
The good Wal-Mart Seglin describes as thrifty, industrious and offer fair deals. They serve society and due to their exceptional distribution system, pass along gains to everyone. The company employs insightful managers who "democratize the American dream". The company spurs productivity and helps fight inflation. The good one is "Americas most admired company" (Seglin, 2004).
Sam Walton was born in 1918 in Kingfisher, Oklahoma. In 1942, at the age of 24, he joined the military. He married Helen Robson in 1943. When his military service ended in 1945, Sam and Helen moved to Iowa and then to Newport, Arkansas. During this time, Sam gained early retail experience, eventually operating his own variety store. He opened the first Walmart in 1962 at the age of 44 in Rogers, Arkansas. His competitors thought his idea that a successful business could be built around offering lower prices and great service would never work. As it turned out, the company 's success exceeded even Sam 's expectations. By 1990, Walmart was the nation 's number-one retailer. As the Walmart Supercenter redefined convenience and one-stop shopping,
From supporting the development of our associates, suppliers and women entrepreneurs to pursuing a more affordable, secure food supply chain to building resiliency in the face of disasters, Wal-Mart is using our strengths to promote the well-being of people and our planet,” ("Global Responsibility Report,"
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
With that, Walmart are able to provides products that are beneficial to the environment and customers can be aware that how much impact the products they bought can do to the environment. Walmart buy products from more than 60,000 supplies from 70 countries. With the Sustainability Index, Walmart can make sure that the products bought from the suppliers do not harm the environment. When Walmart are able to reduce the waste products from the organization, they can cut the cost and provides lower prices for customers. By reducing the waste of the products, Walmart can save millions
The term Corporate Social Responsibility refers to a company’s responsibility to provide a benefit to the society the company affects. Corporate social responsibility incorporates dimensions of corporate responsibility, and corporate policy which include a company’s policy to hire minority or disabled workers, or taking a stance on social and political issues that benefit the community. The social portion of corporate social responsibility includes corporate charitable business contributions and expands on this common social business practice by invoking corporate social initiatives. For example, as a policy, Wal-Mart grocery store managers purchase as much produce and goods from local farmers and distributors they can as opposed to relying on national food distributors. This example of a corporate social initiative provides a greater benefit to the economy of the society surrounding Wal-Mart stores than if Wal-Mart made only charitable contributions to a food bank within the local area. Environmental responsibility is a business’s responsibility to decrease its carbon footprint and produce green products. The trend to produce green products has come into effect since global warming has become a greater concern in the world over the past decade. Reducing the carbon footprint and making green products may increase a company’s cost, but the company can charge more for its products and services to offset the increased cost. Nickels, J. McHugh, and S. McHugh give an example of the Ciba Specialty Chemicals Company, a Swiss textile dye manufacturer who charges more for its dyes than other dye companies because Ciba’s dyes “require less salt than traditional dyes”, and are therefore more expensive to produce (Nickels, J McHugh, S...
Wal-Mart’s strategy over time helped it establish leadership position in discount retailing. It used rural underserved markets to announce its arrival. It also used innovation levers, customer centricity, positioning as a low cost player, and effective stakeholder management including employees, suppliers, and stockholders to achieve distinctive competitive advantage. It successfully outperformed other firms in the industry leveraging its strategy to achieve overall cost leadership. Their customers desire products that are more efficient, last longer and perform better. They want to know the product’s entire lifecycle. They want to know the materials in the product are safe, that it is made well and is produced in a responsible way. These desires inspired them to help develop the sustainability index. With this initiative, they are helping to create a more transparent supply chain, accelerate the adoption of best practices and drive product innovation and ultimately providing their customers with information they need to assess products’ sustainability.
It is said that “The only social responsibility that there is, is to obey laws and pay taxes,” but according to Milton Friedman, “social responsibility is to increase profits.” This kind of responsibility, I believe, is also a form of giving back. Many people believe that the future of Wal-Mart is sustainability by the Wal-Mart Stakeholders which are the associates, otherwise known as employees, the suppliers, and the investors of their company. Wal-Mart continually seek to improve and to engage in ethical pathways. I believe that Wal-Mart is doing enough to become more sustainable both locally and globally by using its resources as its key stakeholders.
Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...
In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its