Contemporary Issues in Business and Management Affecting Walmart (Coursework Sample)
business today are facing a number of issues that adversely affecting ther operations. some of the kye issues include gender diversity, technology,cultural diversity and corporate social responsibility. You're required to research and write a 2000 word management report on a range of contemporary issues affecting any company. choose any company as case study. critically discuss contemporary business management issues. analyse and evaluate the impact of th chosen range of issue on the company. provide an thoughful, insighfull and balanced approach towards on eac of five issues.source..
Contemporary issues in business and management affecting Walmart
Walmart is an American-based multinational retail store founded in 1962 dealing in general merchandise and groceries. The firm was termed the largest employer in the United States, with more than 2.2 million employees across the globe. The company is a world-leading retail store with more than 10130 outlets in more than 27 countries. In the year 2012, the company generates substantial net revenue amounting to $443 billion. The first store was open in Roger, United States, and Walmart Stores (Torres et al., 2012). In 1969. The company's shares were first offered to the public in 1972, which pronounced the company's rapid growth. However, there is a significant issue such as gender inequality which has adversely affected company performance.
Contemporary issues in business and management affecting Walmart
Gender pay gap/Inequality
Despite diligent efforts by many nations to ensure sustainable social life, gender inequality is still prevalent. The disparity is separated by aspects such as sexual harassment, racism, and unequal pay. Women often are denied social, economic, and political freedom due to cultural norms and stereotypes. These aspects mostly dominate at places or work. In 2015, studies showed that a woman received less by 80% of the men's pay. This wage rate is a considerable difference of 20% every month. The study further proves that the percentage could be even more or less in other countries.
From 2014, this rate seems to be diminishing but at a tiny percentage. Other studies suggest that the wage gap change has been quite significant compared to the current ratio, attributed to education and job opportunities provision. However, the difference being experienced gives total potential equity being achieved in 2059 according to the changes experienced between 1960 and 2015. Studies show that after 2015, the change rate has entirely withered future expectations of total gender equity being achieved by 2152. Currently, the wage gap is between 15% and 19% depending on the state. McGee also investigated the prevalence of the gender wage gap given the circumstance of payment according to an individual's performance regardless of gender. The findings show that females receive less than their male counterparts (McGee et al.,p.38).
Chang et al.' explain gender inequality to be highly correlated to suicide. The article gathers data relating to the prevalence of suicide in China. The male gender ratio was higher than the female (Chang et al., 2019). This would mean men had more chances of getting involved in suicide than female counterparts. In this article, the researchers point the gender inequality as being driven by cultural norms. Birindelli et al. focused on the analysis of gender diversity in the corporate world. Using the Fortune 500 banks, the article found that the number of women holding on the board of management was positively correlated with environmental sustainability (Birindelli et al., 2019)
Impact on Walmart
Walmart Inc. has been facing issues about gender inequality. One of the famous lawsuits was Dukes vs. Walmart. Dukes et al. claimed that Walmart has been discriminating against women based on the unequal pay and promotion between men and women in the company. Walmart's actions and policies went against the code of ethics in business regarding gender discrimination. The plaintiff stated that Walmart had violated the Federal Rule of Civil Procedure Article 23(b)(2)(Torres, 2012, p.59). According to Elsesser (2019), gender discrimination is not new to the company. The retail firm has violated the discrimination laws against 178 women by paying less and denied promotions. In 2011, the retail giant faced lawsuits from 1.5 million women who complained of low wages and lack of promotions—notably, gender discrimination and laws suitsuit stains the company's corporate image. After the lawsuits, the company experienced a poor reputation, with several women shying away from taking the employment opportunities in the company. According to Abbas et al. (2010), it negatively impacts workers' morale and motivation. Demotivated employees have poor labor productivity, which ultimately affects the company's performance. In 2009, the company laid down a policy that showed adherence to the equity of gender and diversity. As a result, the company increases gender equity on leadership through increased female employees and managers from 23873 in 2005 to 25,246 employees in 2010 (Torres et al., 2012, p.61).
Workforce diversity is an essential factor that is prevalent in most multinational companies. Workforce diversity refers to the key distinctions and similarities among the workers in an organization. Some of the factors include age, gender, education, culture, religious affiliations, and disabilities. According to Omankhanlen & Ogaga-Oghene, (2011), there is a positive correlation between workforce diversity and organizational effectiveness. The research notes organizations must consider factors such as age, gender, and tenure to foster team member productivity and motivation. A diverse workforce is likely to spearhead the growth of the company.
Rizwan et al. (2016) support the role of workforce diversity. The author denotes that diversity among the team members is likely to influence their performance positively. Workforce diversity is an essential aspect of the company. Cultural diversity brings in disparities in skills and knowledge, which, when combined, fosters the company's growth. Also, multinational companies need to include diversity in customer support. Language disparities may negatively influence understanding and satisfaction among the customers. Walmart has the most diverse workforce in the United States. The company accounts for women making up 57% of its workforce, while the people of color make about 37% of its team members. In Walmart's board of directors, women constitute 24%, and 28% have been employed as the company’s corporate officers. The company appreciates workforce diversity in improving company performance.
Remote working is also known as telecommuting. It describes a situation where workers and the company are working away from the cooperate offices. Covid-19 changed the working environment of most companies. Most companies opt for remote working to boost sustainability. According to Gaffney et al. (2021), about 37.6% of the globe's workers were teleworking during the pandemic. Also, more than half of the Americans were telecommuting. The statistics show that remote working is becoming the new standard in human resources. The researcher notes that telecommuting improves work-life through the creation of flexibility. Many organizations are set to embrace the trends due to benefits. According to Virtanen (2020), Remote working improves worker morale and motivation in working with the company, which leads to positive organizational performance. Walmart has a workforce of more than 2.2 million people across the globe. The company has flexible work arrangements such as part-time and remote jobs. During the Covid-19 pandemic, the company allowed its workers to work from their homes.
Corporate social responsibility is the cornerstone of a company's sustainability. Immoral profits may adversely affect company performance; thus, most multinational companies invest in corporate social responsibility to foster a solid relationship with the stakeholders. According to Torres et al., Walmart showed a significant contribution to corporate social responsibility since its establishment. The company's CSR has been shaped by the conflict between the company management and its stakeholders. The issue strengthened the policy about the quality of its products, working environment, and the code of conduct in the company. Ultimately, the firm established a good relationship with the suppliers and its employees. One of the original CSR reporting and policies is the adherence to accountability and transparency. Since 2007, the company has published the annual report on the company's website. Ensuring the performance of the company was accessible by the investor fostered transparency and accountability. According to Duke, the company's CEO, the strategy improved focus on its operations' economic and social dimensions (Torres et al., 2012).
Moreover, the company rolled out the sustainability 360 models, which involve more than 100000 suppliers, associates, and customers. The model was established to cut the impact of its operation on the environment. The company report details essential goals such as reduction of emission of greenhouse gas to the atmosphere. Other policies include the investment in community projects, majorly in the education and health sectors. The company shows a significant contribution to helping the needy by providing food through community programs as stipulated in the global responsibility report 2011. The company becomes a global leader in the retail industry through such contribution. According to Nwaneri (2015), participation in corporate social responsibility improves brand loyalty, awareness, and recognition across the globe. Brand loyalty has a direct and positive impact on company profitability through increasing sales (Nwaneri, 2015). The company has developed policies that guide the company in adhering to environmental conservation measures. The company has policies aiming at achieving 100% renewable energy and reduction of wastage. The firm also aims at selling green products which enhance the sustainability of the environment and society. The...
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