Historical Background of Wal-Mart
Walmart is an American multinational retail corporation that runs chains of large discount department stores and warehouse stores in most countries in the world. The company is the world’s second largest public corporation; Wal-Mart remains a family-owned business, as the company is controlled by the Walton family, who own a 48 percent stake in Wal-Mart. It is also one of the world’s most valuable companies.
Founded by Sam Walton in 1962, incorporated in 1969, and first publicly traded on the New York Stock Exchange in 1972, Wal-Mart is an international retail giant best known for its low prices and large selection of items for sale ranging from groceries to clothing to electronics and hunting equipment. Walmart currently has over 11,000 stores in 27 countries under 55 different names, among them Asda, Seiyu and Best Price for The United Kingdom, Japan and India, respectively. Its headquarters is located in Bentonville, Arkansas. However, despite its current status as a retail giant, it was not until the 80s and 90s that the company made a big leap from a regional company to a national and later international giant.
As a company, Wal-Mart strives to maintain a clean image in the public eye. Its commercials are full of bright eyed employees or “Associates” that applaud the company’s low prices, wide selection of goods and “family friendly” environment. Upon entering any Wal-Mart in the United States, shoppers are usually greeted by a designated greeter whose sole function is to make the customer feel at home. Wal-Mart may look like it is the best manufactured seller in the USA; however, there are things that are not even made in the US; they are made outside of the country. Moreover, Wal-Mart is pro of things that are made in the USA, and it seems that everything they have done in order to get a high percentage of things made in the country is just a farce because there is a hidden mystery behind the thing they say that is manufactured.
Description of the nature of the unethical questions involved and their effect on the company as of today
Wal-Mart is often criticized for not paying workers enough wages per hour. Its Workers work anywhere from 19 to 40 hours at an average of $8.81 per hour.
The average Wal-Mart employee makes an average of 15,576 dollars a year when the measure for poverty for a four person family in the USA is anything less than 23,850 a year. According to the United States Department of Health and Human Services, an annual pay rate of 15, 730 dollars a year is the poverty threshold for a 2 person household.
Wal-Mart is criticized for putting small business owners out of business. As Walmart is well known as a giant in the USA, and it sells almost everything, smaller businesses will not have the opportunity to succeed, or even to get establish on the market. They will have nothing left to sell, and they will end up bankrupted.
Wal-Mart employs “Dead Peasant” insurance policies; Dead...