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Code of Ethics and Policies Average rating: 0 out of 5 stars, based on 0 reviews Write a review This button opens a dialog that displays additional images for this product with the option to zoom in or out. Wal-Mart prides itself on having one of the strictest and most stringent ethics policies in the industry. Buyers are not allowed to accept even a cup of coffee from their suppliers.
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Submitted By adksubashWords 455Pages 2Walmart is the world’s largest retailer. Employees and on average serves.
Customers a day.Walmart: Global Strategic Expansion - Executive Summary Since introducing its first international store in 1991, Walmart has transformed itself from an American retail giant into a global one, leveraging a wealth of resources to strategically expand operations. Although Walmart must contend with several formidable competitors, the retailer has successfully opened thousands of stores across the globe; most frequently, it has added international units through the acquisition of foreign retailers, which simultaneously reduces its competition and furthers its dominance. Walmart has differentiated itself by coupling its understanding of political, economic, legal, and cultural systems within target markets with its low-cost, high-quality approach to mass retail. Utilizing simultaneous strategic multiple thrusts, Walmart has developed layers of competitive advantage to establish itself as the world’s leading retailer. Focusing on strategic expansion, Walmart currently operates 9,826 stores across twenty-eight countries, allowing it to capture global scale efficiencies by creating a coordinated and integrated network of interdependent stores.
Each unit within its network is regarded as a source of ideas and capabilities, and innovation is diffused across the company through initiatives such as a market-by-market training program that helps increase the company’s responsiveness to local demands and preferences. Thus, Walmart has established itself as a transnational corporation by.Words: 5506 - Pages: 23.From this perspective, Walmart operates under the philosophy and strategy of continuously enhancing their processes, so they can offer low prices for their customers and clients, which in return allows them to have a better life by saving money in any store. However, their social responsibility goes even beyond their commitment to customers. It extends into the community and around the world.Walmart has initiatives to make a difference on issues like preserving the environment, fighting hunger, and as stated above, improving the lifestyle of the community by providing access to healthy and affordable food. According to Walmart’s website, the company achieved ten goals at the end of 2011, goals that relate to society and to being a socially responsible corporation. These achievements were:. Reduction of waste by 80%, on all of its US operations.
Expansion of locally grown produce. With this goal, Walmart increased the amount of locally grown produce (produce grown and sold in the same state) by 97%, and it now accounts for more than 10% of all produce sold in US stores. Support of women around the world. Walmart committed to sourcing $20 billion from women-owned business in the US.
Saved customers $1 billion on fresh fruits and vegetables. Announced Great for You icon, which helps consumers to easily and quickly identify healthier food options.
Utilized 1.1 billion kWh of renewable energy, which has allowed Walmart to be recognized as.Words: 2018 - Pages: 9.the staunch work ethic and dedication to customer care that Sam Walton instilled in the company, the company did feel that there was a need formal ethics program (p. However, as time has passed the thinking of the Wal-Mart Executives has had to change. I do not know if Wal-Mart has changed because of the lawsuits they have encountered over ethical issues, if it was driven by the desire to keep profits high, or if Wal-Mart changed the way they do business because the company really does want to right thing for all the stakeholders. From what I can see, ethics has become a very important part of Wal-Mart’s business strategy. They seem to have a formal ethics program in company these days and they even want the entire world to know about because they provide a digital copy of their 36 page Statement of Ethics document on their web site.Text Questions1.
Do you think Wal-Mart is doing enough to become more sustainable?According to Ferrell et al. (2011) Wal-Mart’s green initiatives are securing the goodwill of many of the environmentally conscious consumers along with saving the company millions of dollars annually (p.322). Wal-Mart even received a Gold Medal for International Corporate Achievement in Sustainable Development in May 2010. According to a December 2009 article posted by World Environment Center on the Corporate Social Responsibility Newswire Wal-Mart is, “A leader in sustainability, corporate philanthropy and employment opportunity, Walmart ranked first.Words: 1421 - Pages: 6.WalmartWalmart, one of the great stories in American history but, how does it compare to other retail stores like Target or K-mart, but, it also has a history of discrimination toward women and minorities. Sam Walton, a military man, a captain in World War II could not have imagined that his business would grow into one of most productive retail stores in modern history. Even today, with Walmarts, overseas, Walmart has cornered the retail market by storm.
But, it also has a bad image, over its business deals against women and minorities and especially not giving equal pay for equal work, or denying workers the opportunities for advancements that are offered to white males in his business. I guess this wouldn’t be Mr. Walton, but his board of governors should be held accountable.
Everyday people file law suits against the company, how long will the company last? Next, they have become so large that they can afford to move overseas, and hire workers that will work for less than the average American will, now, that will be exactly what was needed for the company,(globalization.) Walmart has stores in countries that the common American has never heard of.In the 1940’s, a young man named Sam Walton, of Newport, Arkansas, was using another stores business model, and that was, get products at a reasonable price, and they had to be American made.
His idea was so simple anybody could have done it, but anyway, his idea was to look for bargain deals from suppliers and sell.Words: 2501 - Pages: 11.WalmartSlide1Welcome to our presentation, our topic is Walmart, I will present the pro arguments for Walmart and Cherrif will present the arguments against Walmart.Slide 2First of all I want to say some basic facts about walmart. Sam Walton created walmart in the year 1962 and he opened the first walmart in the same year in 1962 in Arkansas.
Today we can say walmart has more than 9000 stores worldwide and its spread over 15 countries. Think about it for a second Sam Walton created walmart only 50 years ago and the company has over 2 million employees. That is amazing.Slide 3Now you can see a quote from Sam Walton about Walmart. Slide reading. That is everything what expect from a store for customers.Slide 4Some more facts: it is the worlds lagest public corporation by revenue. Furthermore the largest private employer in the world. A really important part in walmart is the grocery part, it is the largest grocery seller in the US and it is friendly to children you can see it in the fact that walmart is the largest toy seller in the us.Slide 5Walmart has not only toys or a big grocery part, walmart brings low prices and the conveniece of shopping at one place, where you can find everything.
You dont have to go to different stores to buy, walmart has everything what you need. You save a lot of time to go to walmart and buy there. Plus the walmart prices are between 15% and 22% less expenisive than the market price/ the other stores. And it is open.Words: 689 - Pages: 3.Cost Leadership and Differentiation Strategies @WalmartSubmitted by: Samrat BasuINDEX PAGEWalmart Origin Page-3Walmart Mission/Vision Page-4Corporate Culture@ Walmart Page-4Competitive Position of Walmart Page 5-6Strategies @ Walmart Page 6-9Private Label and Store Layout Page 9-11Conclusion Page-11Appendix Page 12References and Bibliography Page 13-14Wal-Mart- OriginWal-Mart was the product of Sam Walton, a businessman from Arkansas. In the late 1940s, in USA, a retailer who was successful in obtaining a sufficient discount for his products from the whole-seller, used to sell the products at full price to the customers and thus enjoyed a substantial amount of profit.
Sam Walton during that time was working as a retailer at a J.C. Penney store in Des Moines, Iowa.(Walton & Huey, 1993) Incidentally while working there, he was introduced to Butler Brothers, a big retailer who had chains of variety stores known as Ben Franklin and Sam was.Words: 4491 - Pages: 18.WalMart Manages Ethics and Compliance ChallengesIn 1950, Sam Walton purchased a small store from Luther E. Harrison in Bentonville, Arkansas called Walton’s 5 & 10. Walton’s 5 & 10 is now called WalMart Visitor’s Center in Bentonville, Arkansas. In 1962, founder Sam Walton opened the first WalMart store located in Rogers, Arkansas.Sam Walton was inspired by other discount department chain stores.
By keeping his retail prices lower than the other competitors stores he was able to open his second WalMart store the same year in Rogers, Arkansas. There were a total of 24 stores in the state of Arkansas by 1967 with earnings of $12.6 million in sales.In 1968, the first store was opened outside of Arkansas in Claremore, Oklahoma and Sikestone, Missouri. WalMart expanded to South Carolina and Georgia in the early 80’s. By this time WalMart was launching their jewelry divisions, auto service centers and pharmacy departments.Later on as WalMart grew they introduced their first WalMart Supercenter in 1988 in Washington, Missouri.
The WalMart Supercenter’s features one-hour photo processing lab, portrait studio, banks, hair and nail salons, fast food outlets and video rental stores. “Although it got off to a slow start, over the next 40 years the company grew from a small chain to more than 8,000 facilities in 27 countries” (Ferrell, Fraederich & Ferrell, p. 407).Sam Walton believed in customer satisfaction and invented the “10 foot rule” meaning.Words: 1025 - Pages: 5.A local business that I frequent is Walmart. I go there on almost a weekly basis to get groceries and other necessities. The three main components of a business model are its business commerce, business occupation, and business organization.Business as a commerce is the process in which people produce, exchange, and trade goods and services.
Walmart’s business commerce is trade. As Walmart has expanded, they are engaged in not only the trade of goods, but also services. Most Walmart stores have a variety of services that are provided, from a pharmacy, to a photo studio, hair care salon, etc.Business as an occupation is the set of skills and abilities that an organization has that allows them to create value in the goods and services that they offer. In the case of Walmart, a highly efficient set of skills and abilities exist. The company is set up to encourage efficiency and mass purchasing power, which allows Walmart to undercut its competitor’s pricing. Furthermore, Walmart invests significant amounts of money in employee training, which further supports the skill set of the business.Business as an organization is the system of authority and relationships that control interactions between people and move the organization towards a common goal. Walmart’s organization is one of its strong points, as it is organized according to a divisional structure, utilizing a market structure.
Walmart, over the years, has greatly expanded its market structure, which allows it to.Words: 255 - Pages: 2.HISTORY & BACKGROUNDFounder of Walmart Sam Walton graduated from University of Missouri in 1940 with a degree in Economics. He wanted to capitalize on his work experience in retail. Sam had an idea to bring a different type of economical approach to the retail industry. Sam and his brother J.L.
Walton owned nine Ben Franklin stores. They went to Ben Franklin store owners with the approach of reducing prices to increase sells and were turned away.
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In 1962, the brothers decided break away and opened their own store in Rogers, Arkansas which was the start of the first Wal-Mart Discount City store. Their approach was to open stores in populations with 5000 to 25000 people. By the late 1960’s the Walton brothers has 18 discount stores and 15 Ben Franklin franchises which became incorporated in Wal-Mart Stores, Inc. (Tell me the history of Wal-Mart).During the 1970’s the Walton’s incorporated many changes to how they do business which laid the foundation to cut cost to gain more control. They implemented a warehouse distribution strategy of constructing their own warehouses so they can buy merchandise in great volume, and positioned its stores 200 square miles from each distribution point. By 1977, Forbes had Wal-Mart ranked #1 in return of equity, return on capital, sales growth, and earnings growth over all other discount and variety stores (Tell me the history of Wal-Mart).
Wal-Mart’s continued expanding and in 1978, its stores included a pharmacy, auto service.Words: 3388 - Pages: 14.Code of Ethics: WalmartNina BrownPHL/323: Ethics in ManagementAugust 8, 2011David RubensteinEvaluation of Business Code of Ethics: WalmartA code of ethics is a set of written guidelines issued by an organization to its employees and management regarding ones conduct and behavior (Business Dictionary, 2011). Principles and standards are important, but they are also crucial in everyday life expectancy as well as his or her work setting. The function of a code of ethics policy is to provide its personnel, administration, board of directors, and others an orientation that abides by a business course of action, principles, and ethical standards.
Each business should develop a code of ethics as a standard for his or her industry to abide by daily. It should concentrate on major factors important to the individually industry requirements.
The honesty of an industry and its workers is essential to the general success of the organization as a unit. This evaluation focus is on Wal-Mart the number one fortune 500 company in the world. This process will include general information about Walmart including its mission statement, ethical system, and it putting into practice on an employee, management, or board of director level. This paper will also include information on modifying the existing policy, reactions expected from employees and managers, effects of organizational culture and the effect on the organization itself.HistoryIn 1962 the first Walmart.Words: 1630 - Pages: 7.Walmart Manages Ethics and Compliance ChallengesSanelesia HawkinsWest Georgia Technical CollegeAbstractDespite its financial success and international proliferation, Walmart and its business practices have generated controversy and divided public opinion.
Supporters praise Walmart’s sales of needed household items and groceries at relatively low prices, while critics condemn the corporation’s generally low wages paid to employees and its tendency, as a big-box retailer, to put small, community-based stores out of business. As a result, Walmart is often the subject of intense social and political debates pertaining to capitalistic practices and ethical treatment of workers. Another major criticism of the company pertains to its long history of allegedly “invading” smaller towns and communities, establishing stores, and thereby driving small, family-owned and -operated stores out of business because they were unable to compete financially.Walmart Manages Ethics and Compliance ChallengesWalmart has been criticized by many groups and individuals, including labor unions and other groups. It has been accused of selling merchandise at such low costs that competitors have tried to sue it for predatory pricing (intentionally selling a product at low cost in order to drive competitors out of the market). Over the last decade or so Walmart has become involved in numerous lawsuits for a variety of reasons.
The majority of the suits are class action lawsuits in which.Words: 873 - Pages: 4.UNIVERSITI KUALA LUMPUR BUSINESS SCHOOLECB30103 STRATEGIC MANAGEMENTGROUP ASSIGNMENT: WALMARTPREPARED BY:GROUP MEMBER1) NURSYAHIDAH BINTI RAZALI 02) NURUL NABILAH BINTI RAZALI 83) NURUL ZAITUN BINTI ABDUL MALIK 84) UMMI KHALSUM BINTI RAHMAT 3PREPARED FOR:LECTURER’S NAME: MOHD HAIZAM BIN MOHD SAUDI1. What is the nature of the company business? What are their product lines?Wal-Mart is the World's largest retailer. It has over 11,500 stores in 28 countries across the globe. Wal-Mart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores and grocery stores. Walmart products include discount stores, cash and carry wholesale, warehouse club, super-center, supermarket and superstore and also an e-commerce business.2.
Develop a suitable vision and mission statement for the company.Visioni.To be the best retailer in the hearts and mind of consumer and employees.ii.To promote ownership of Wal-Mart ethical culture to all stakeholder globally.Missioni. Saving the people's money so they can live better.ii.If we work together we will lower the cost of living for everyone.iii.Save money. Live better.3. Using the following template, develop EIGHT (8) core business objectives in fulfilling the stakeholder’s expectation. Please.Words: 7815 - Pages: 32. Walmart Danielle S Holley Firms choose from different business-level strategies in order to proposer in today’s markets.
One of these being the Cost Leadership Strategy, an integrated set of actions taken to produce goods or services with features that are acceptable to customers at the lowest cost, in comparison to their competitors. Firms that chose to use this strategy must sell standardized goods and services which have to also include competitive levels of differentiation to the market’s regular customers. Cost leaders have to examine all support activities to find extra resources in order to cut production costs allowing them to maintain low costs for their customers. In any industry fixed and variable costs can cause companies to go out of business. Cost Leadership Strategy can put a strain on companies because they have to keep developing new technology that can support low cost goods and services (with differentiation) as well as low production costs to satisfy the needs of customers in the market place. Using this strategy effectively can earn firms above-average returns in spite of rivals in the industry. Having the low-cost position in an industry is valuable way to deal with competitors.
The cost leader’s strategic position causes competitors to think twice before they compete on the basics of price and technology against the potential outcomes of such competition (Hitt).Walmart is known for its.Words: 5753 - Pages: 24.the corporation fulfills a social contract. This means by following the laws and ethical practices in which it is organized to operate.
Society and lawmakers ensure the compliance of all applicable laws and if the corporation does not agree with the applicable laws, they have the ability to voice their opinions through the political process. Ethical responsibilities are the means in which a corporation conducts its business. These practices are not found within the confines of a law, but are standards in which society operates on a day-to-day basis. This practice may be different depending on the location of the corporation, but these values are perceived to be normal for business conducted in that area.
Because of this ambiguity, ethics are always changing and are not always uniform for every corporation throughout the world. Philanthropic responsibilities are considered to reflect the expectations of the public.
This means that these responsibilities are voluntary and are not practices that are mandated by law. Thus, is ultimately the social contract and can include things such as donations to disaster relief, or other organizational causes.WM has demonstrated its success of the four-part model. Their economic responsibility is demonstrated by selling their products at a low price, these prices are deemed fair to the consumer in which they support by buying their goods from WM. Friedman (1970) described that a corporation cannot be socially responsible, only.Words: 3625 - Pages: 15.Walmart has endured great criticism for challenging the market in competitive pricing and selection. Walmart is a success because it sells products at low prices that people want to buy, satisfying customer's wants and needs.
However, critics argue at the same time Walmart's lower prices draw customers away from other smaller businesses, hurting communities. Walmart offers consumers a choice, and the overall benefits to the economy outweigh any negative, natural affects of a competitive market The claim that Walmart's low prices causes some existing businesses to close is not political issue, it is the nature of capitalism. Despite all the criticism, this conglomerate continues to grow. I am thankful that our economy is based on capitalism. I am free to work for whom want or open a business; set my own prices and succeed- or fail.
I am free to buy from Walmart or any other store I choose. It seems to me that Walmart is helping our economy thru this recession. Many people are saving money by shopping at Walmart, which in turn keeps many others working.Walmart is not the only one who seems to take the heat for its industry, McDonald’s faces similar disparagement for the fast food industry. Many critics use McDonalds as an example to attack the “unhealthy” food served in fast food industry. Both have responded well with tactics to directly counter-act the bad publicity. Walmart has made great efforts to improve its sustainability with new transportation and building.Words: 303 - Pages: 2.