Walmart: The Main Street Merchant of Doom
Sam Moore Walton, founder of Walmart, opened the first Walmart store in 1962 in a rural town using an idea he acquired while working at JCPenney. Since then the company has grown tremendously. In 2001 Walmart was considered the “world’s largest retailer” surpassing big retailers like Sears, JCPenney, Target and Kmart, its “net sales had grown to $408 billion” by 2010, and today it “operates over 11,000 retail units” throughout the world (Carroll and Buchholtz 599-600) (Walmart Stores, Inc). However, since Walmart is the largest and most known company in the world, it has become a target of criticism to many groups and individuals.
Some people ...view middle of the document...
The company would avoid a great deal of lawsuits if it observes this legislation.
Third, regarding the ethical responsibilities of the company, there is a lot of room for improvement. Despite the fact that Walmart created the “Buy American” program (that supported contracts with American-based manufacturers) and the “Environmental Awareness” campaign (that promised to help the land, air and water) to show its ethical responsibilities, the company still needs to develop and practice ethical principles towards its workforce’s wages, manufacturers, consumers, and small merchants (Carroll and Buchholtz 600-01). In other words, Walmart needs to have ethical responsibilities with all stakeholders (employees, consumers, community, environment, business owners, government and shareholders) since businesses were forced to close their doors permanently when the company entered the community, employees could not live off their low wages, and the community and environment were disrupted with the addition of new Walmart stores as it created urban sprawl and traffic congestion. It is because of the lack of ethical responsibility that Walmart is losing ground to its opponents and is allowing them to hinder the company’s expansion plans.
Fourth, since Walmart created its Foundation, participates in various fundraising campaigns, college scholarship initiatives, and is constantly making donations to different institutions, its philanthropic responsibilities are being fulfilled. All these social performances serve the community and help enhance the company’s image.
All things considered, Walmart’s CEOs should have stayed by Sam Walton’s effort to carry out the Buy America plan. The plan would have not only favored American-based manufacturers (staying in business), but also the country’s...