Nowadays there are many successful companies in the world, but the fact is that Walmart Inc. is the most competent in their industry. Their strategies and business model have led them to achieve success and make them the worlds largest retailer. In this essay I will analyze Walmarts business model and how their succes has affected to the Corporate Social Responsibility.
First of all, what does Corporate Social Responsibility means? When we are talking about corporate responsibility, we talk about active and voluntary social, economic and environmental improvement contribution from companies, with the aim of improving their competitive position and their added value.
Social responsibility is giving special attention to their workers and
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Its business concept is the convenience store low price and high volume, discount stores, supermarkets and hypermarkets. Sam Walton, a leader with an innovative vision, started his own company and became the leader in retail. Through understanding, and sometimes unusual practices in business, led the company forward for thirty years. Walmart executives continue to rely on many targets and traditional philosophies than its predecessor left behind while simultaneously always one step ahead of technology and methods that changing environment. The organization has faced a significant amount of controversy over various issues; however, none of these has made great effect on the progress of this gigantic operation.
The future also looks bright for Walmart, especially if you can strike a comfortable balance between increasing profits and recognition of its social responsibilities and ethical.
Walton had a reputation for caring about their customers, their employees and the community. To maintain its market in the retail discount, Wal-Mart executives continue to develop management guidelines in accordance with the principles of Walton.
The word "always" can be seen in almost all the literature of Walmart. One of the deepest beliefs of Walton was that the customer is always right, and shops are mainly produced by this philosophy.
Walmart was founded on the belief stated above by its founder Sam Walton in 1962. “Saving people money, so they can live better,” was the main objective when Sam Walton opened the doors to the first Walmart (“History”). Today, Walmart is the world’s largest retailer and corporation in the United States and have been awarded and recognized by various organizations for being the best employer throughout United States and other countries. By the Fortune magazine, it is listed as one of the most admired
(2) Competitive changes in discount retailing were reflected in Wal-Mart’s decision to change its marketing slogan from “Always the low price--Always” to “Always low prices--Always”.
Wal-Mart has three basic beliefs that are an integral part of their teamwork. The first is respect for the
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 also a form of giving back. Many people believe that the future of Wal-Mart is sustainability. Wal-Mart Stakeholders are the associates, otherwise known as employees, the suppliers, and the investors of this company. I believe that Wal-Mart is doing enough to become more sustainable both locally and globally by the resources, its key stakeholders.
Texas has always been a very conservative state that focuses on protecting the freedoms given by the constitution to the people. However, there are some freedoms that have certainly been challenged as time passes by. This is where the limited government of Texas usually has conflicts with the constantly growing federal government, especially during the last decades when some big problems and controversies erupted, particularly on the issues of mass shootings and gun control. When it comes to gun control laws, opinions are unequivocally divided between republicans and democrats. Republicans venerate and sharply defend the Second Amendment of the Constitution as right of the people to defend themselves, while Democrats yell desperately for gun restriction laws and even a change to the Second Amendment, these with the purpose of getting guns out of the streets and preventing other mass shootings.
In 1963, Sam Walton had a vision. A vision, that he could bring what the consumers needed, to them, at the lowest price possible. Mr. Walton believed that a company could not be run by just one person, it had to take team work. With Mr. Walton relying on his associates at the lowest level possible, he created the retail empire known today as Walmart. Mr. Sam, as he was referred to, would visit each and every store to learn about its culture. He would sit down with each and every associate and get ideas, comments, concerns, and anything that the associates wanted to talk to him about. This practice allowed for Walmart to create a culture of its own. A culture where each person makes a difference, no matter what your background or life style. The cultural synergy remains the same today. This philosophy is the basis for Walmart’s slogan, “Every person makes a difference.” Sam Walton knew that in order to be successful he needed to hear from everyone, to make everyone a spokesperson for the company. Many of the ideas that have been put into play have come from the lower level associates who never thought they could make a difference. Each associate comes from a different walk of life and background. This leads to the diverse workforce that Walmart has today. Sam’s practices have been instilled in today’s current CEO, Doug McMillion.
Fat people are funny. If you wear Crocs means that you are a complete dork. If you are pretty, you are smart, and if you are ugly you are stupid. Little old ladies that have a lot of cats are nice. These are examples of prejudice. It is in schools, on the radio, and on TV. Prejudice is what we think of people or things just because other people look like or act like that. Prejudice is a preconceived idea that is in no way based on a reason or actual experience or evidence. Prejudice is a major problem for many people in the United States and many other places in the world, but the more you know about prejudice, the easier it is to identify and stop it.
Wal-Mart evolved from Sam Walton’s purpose for great price and great consumer service. “Mr. Sam,” as he was known, believed in management through service. The principle that true leadership depends on willing service was the standard on which Wal-Mart was built, and drove the choices the business has made for the past 50 years. So much of Wal-Mart’s past is attached to the story of Sam Walton himself, and so much of our future will be deep-rooted in Mr. Sam’s principles. Sam's rivals thought his plan for a thriving business couldn’t be built around low prices and great service. As it happened, the company's achievement went beyond even Sam's hopes. The company went public in 1970, and the profits funded a steady growth of the business. Sam recognized the rapid increase of Wal-Mart not just to the low prices that fascinated consumers, but also to his staff of workers. He depended on them to give customers the great buying experience that would
Wal-Mart now has to rebuild their images, procedures on how they conduct business nationwide and how the use ethical business practices. The New York time article reported, “Wal-Mart announces new ethical and environmental principles complete by 2012”. (Robinson, 2008)
Corporate social responsibility emphasizes the participation of the organization in a larger society and its responsibility to support good causes. It emphasizes corporate citizenship, philanthropy, and community support and recognizes community-based obligations and responsibilities.
He was known to prefer pickup trucks over limos and the company of his family and dogs over that of investment bankers (Huey, 1998). Sam died on April 5, 1992, leaving his approximated $100 billion fortune to his four children and his wife. Just before he died, President George Bush presented Sam Walton with the Medal of Freedom, the nation 's highest civilian award (Wal-Mart Stores, 2005).
Wal-Mart is certainly credited with changing the retail world as we know it with its low prices and big stores with huge selections but it has come at a price. They have struggled with issues that question the ethics as a company and legal issues that question how they manage people. These issues will continue to hurt their organization unless a complete change in management thinking and actions are changed. As a socially responsible organization, their management planning in this area is second to none. Lets hope they take the same effort in improving their image when it comes to ethics and legal issues.
It is evident that Sam Walton believed in the importance of control systems in an organization; as he established certain strategic control systems in the company. Walton wanted everyone within the organization to be committed to Wal-Mart's goal "total customer satisfaction", and the strategic control systems were set accordingly.
Firstly, I would like to explain what Corporate Social Responsibility is. “It is a company’s sense of responsibility towards the community and environment (both ecological and
A philosopher named Confucius founded Confucianism in China 2,500 years ago. Confucianism is a system of ethical behavior and social responsibility that became the great traditions of the East.1 It played an important role in the evolution in Chinese culture over the centuries. It has influenced near-by countries and had made a mark in the history of religion. There are today over six million people who call themselves Confucianists. Most Confucianists live in East Asia where Confucianism is thought to be born. For over two thousand years, Confucianism has been the dominant philosophical system of Chinese government, which has still a great hold on their people. Because Chinese culture has spread to the counties of