Wal-Mart Social Responsibility (Essay Sample)
Research a Fortune 500 company. Examine the company’s social responsibility policies. How does the company demonstrate its duty? For example, you may choose areas such as labor practices, environmental and human rights issues or special interest (e.g., animal rights, women's rights, technology transfer, philanthropy, etc.) to describe how a company demonstrates its duty.source..
Wal-Mart Social Responsibility
Profit is the motivating factor behind most business activities. Regardless of the precise strategies or routes companies adopt, the fundamental purpose of these enterprises is to maximize revenues. Because investors invested their own money in the firm, the shareholders, who are the key stakeholders, have the expectation of company generating profit and get their returns. However, corporate social responsibility (CSR) requires firms and their workers to ethically conduct themselves and have awareness of social, cultural, economic, and environmental problems. This paper examines how Walmart has shown social responsibility in labor policies, environmental preservation, human rights, and community involvement.
Consumers have trusted Wal-Mart Stores, Inc. for years to provide reasonably priced, high-quality goods and services. Because the company's motto has long declared that customers come first, Wal-Mart has earned media attention as a champion of global responsibility. Walmart ensures that their corporate social responsibility (CSR) activities extend beyond the company's borders and into the realm of global citizenship. According to Ertem-Eray (2020), Wal-Mart has long been renowned as a company that supports CSR and sustainability ideals among its workers and all other stakeholders, including global enterprises.
Wal-Mart has always prioritized the requirements of its customers, and despite its expansion throughout the years, this commitment has not changed. The organization's history has only contributed to broadening the scope of its current mission and vision statement. Unlike in the past, when Wal-Mart was primarily concerned with its customers' finances, the company today stresses a broader idea of customer-friendly service. More precisely, the firm has advocated redesigning the production process to shift it toward green economics to address the stakeholders' health concerns.
Walmart has emphasized waste management as part of its commitment to sustainability by phasing out harmful emissions, improving its portfolio of sustainable items, and mending the environment and climate. Under its sustainability responsibilities, Walmart has prioritized global security. According to Yu (2019), the company's dedication to environmental protection benefits the region's economy. Wal-Mart has devised a mechanism to reduce the retailer's environmental impact. The Zero-Trash-to-Landfill program adopted by the company implies that landfills should not be used as the key to preserving global sustainability and spreading it to other firms and that the total amount of garbage generated by the company should be kept to a minimum.
Walmart's corporate social responsibility involves providing workers with chances for personal and professional development via training and promotion. Izadpanah (2020) argues that the company has strengthened the economy and helped people sustain their families by generating new jobs and collaborating with retailers to sell their items. Walmart gives intensive training in a range of business-related areas to its employees for them to compete in the global market. Walmart embrace and promote diversity and does not tolerate harassment or discrimination based on gender, sexual orientation, or race. Everyone has the same level of responsibility, which may differ from person to person depending on their area of competence. Walmart receives high marks for racial impartiality and inviting varied groups.
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