Wal Mart And The Nine Principles Of Sustainability

983 words - 4 pages

According to Marc J. Epstein (2008), to help understand what sustainability is in the context of corporate responsibility, [Epstein has] broken it down into nine principles.
These nine principles… highlight what is important in managing stakeholder impacts (i.e. the impact of company products, services, processes, and other activities on corporate stakeholders). (p. 36).
Evaluating a large company such as Wal-Mart against these nine principles can give eye opening clues to how much of a leader they are in meeting the needs of their current stakeholders, as well as forecasting and preparing for the needs of their future stakeholders. Many of the principles are entangled within one another, but each is equally important.
The nine principles of sustainability performance
According to Don Soderquist (2010), former long-serving chief operating officer at Wal-Mart, ethics are about simply doing what is right. (p. 14). Wal-Mart has often been criticized for many of its management’s business decisions. From news reports of obtaining goods from countries where employment practices are far from ethical, to taking out million dollar life insurance policies on its terminally ill employees, ethical standards can seem non-existent at the upper levels of this large organization. Prioritizing stakeholder interests is an area that Wal-Mart tends to have major struggles. The steps listed in their “Statement of Ethics” looks like they are trying to establish the correct path.
Governance at Wal-Mart focuses on the Board of Directors, their qualifications and responsibilities. Wal-Mart had been the defendant in numerous class-action lawsuits filed by employees for various discrimination and unfair employment practices. Shareholder’s voiced many concerns over the corporate governance failures. Wal-Mart was also the target of many SEC investigations. Wal-Mart, conversely, has established many new governance and ethics policies to address the issues regarding Wal-Mart’s governance reputation.
The question of transparency in Corporate America, more specifically how transparent should a company be required to be, is a topic of hot debate. Which stakeholders should be privy to a company’s information? Should core stakeholders have access to more information than fringe stakeholders? Wal-Mart is held to all the same transparency laws of any publicly held corporation. Unless there is a true dishonest effort to hide information, Wal-Mart should have no issues with transparency.
Business relationships
Business relations are an area that Wal-Mart has mastered cost with effectiveness and profitability. Obtaining the majority of their goods from overseas producers allows Wal-Mart to continue to rule in the low-cost growth model. Even with public sentiment feeling that the labor laws in the countries where goods are produced may be unethical, consumers are still shopping at Wal-Mart to obtain the lowest price. Wal-Mart currently has no...

Find Another Essay On Wal-Mart and The Nine Principles of Sustainability

The Wal-Mart Effect Essay

1292 words - 5 pages “Our competitors are better because Wal-Mart exists” stated by the chief financial officer of Wal-Mart. Wal-Mart is a retail store, which provides groceries, electronics, household appliances, and high quality items to consumers. The retail chain has made a household name within every house by selling products all over the world at a bargain price. Wal-Mart’s strength and pace of growth contributed to a retail store in every city and state

Analysis of Wal Mart

2707 words - 11 pages Analysis of Wal Mart Wal Mart is the largest retailer in Canada , Mexico and USA. In addition to that Wal Mart has been known in USA not only for its dimensions but also for a very big number of reasons and good values. I think the best way to start an analysis about Wal mart strategy is to see where the company is now with the use of a brief Swot analysis. As far as the Strengths are concerned , I think that one of

The affects of Wal-Mart and other big box reatailers on a community

2429 words - 10 pages furniture and appliance at inexpensive prices.Big Box Affects on CommunitiesWal-Mart and other big box retailers have a huge impact on the community not only in the manner that the consumer can now purchase their needed products at a reduced price, but they also provide tremendous social benefits. The primary winners in the emergence of a Wal-Mart are the low, moderate, and middle-income families (Ortega, 1998). This is because they can purchase all

Wal-mart Pay and Benefits

1818 words - 7 pages Wal-Mart Pay and BenefitsWal-Mart is a company that most Americans are familiar with, a company with stores that offer everything a person could need at low prices. What began as a company based in a small Arkansas town has grown to be the largest employer in the United States. By 1998, Wal-Mart had the fourth highest annual sales revenue of any American company and had stores throughout four continents. It is estimated that within a few years

Wal-Mart is the Enemy

1514 words - 6 pages programs which are targeted to low-income families. In all 13 states, Wal-Mart was found to be at the top of the list. At least 55,000 Wal-Mart employees, children, and spouses are supported by state health insurance programs which was combined results by all 13 states. Between these 13 states there are a total of 480,000 Wal-Mart employees. This means that on average for every nine Wal-Mart employees at least one Wal-Mart family member is

Historical Bckground of Wal-Mart

2127 words - 9 pages materials such as lead paint which would be hazardous to consumers. When Wal-Mart saves money by not paying its workers a living wage, those workers turn to government aid programs because the workers are unable to afford the necessities of life, taxpayers pick up the tab. My proposed principles and strategies which can create more ethical business practices that feature interpersonal and institutional relationships based on equity and social justice

Swot Analysis of Wal-Mart

3324 words - 13 pages . Accessibility and simplicity of the Walmart.com site was another source of value. Moreover, through bundling techniques, Walmart.com offered special deals where customers could but totally different items on one single site.Internal Analysis Wal-Mart has been able to build a total of forty three distribution centers nationwide. These include nine grocery distribution centers and two import distribution centers. The vast number of items and the need to

Control Mechanisms of Wal mart

1516 words - 6 pages Control Mechanisms of Wal-Mart PAGE \* MERGEFORMAT 3 Control Mechanisms of Wal-MartWithout the effectiveness of control, the successes of most companies would be easily faltered. Wal-Mart, being one of the World's largest retail chains, has established itself as a global leader, and not without having a defined plan of action. Through varying efforts and countless control regulation, this retail giant has secured itself within the industry

Karl Marx and Wal Mart

2570 words - 10 pages Karl Marx and Wal Mart When we think of the well-known private employer “Wal-Mart” what exactly comes to our minds? We may think of Wal-Mart as being a convenient, useful, low price department store that contains our everyday goods and necessities. On the outside perspective, we are generally appreciative of the fact that Wal-Mart exists and is able provide for our needs. But do we ever think of what happens inside the company? While customers

Wal-Mart: The Real Identity

1305 words - 5 pages its worst-ever sales period. Many people today proclaim that Wal-Mart has just lost sight on the main goal, making money. While trying to attract more upscale shoppers, the retailer effectively turned its back on its blue-collar customers. Apparently, Wal-Mart does not care, and is attempting to deceive their usual, everyday customers by incorporating more upscale and pricy items into the inventory of the store (Duke 426). Wal-Mart’s everyday

The Retail King Wal-Mart

1170 words - 5 pages Wal-Mart has quickly become the world's largest company with its one stop shopping convenience and low prices. There is no debating that Wal-Mart is a dominating force in the American and world economy. However, there is a clash between two different views of how Wal-Mart achieved this status. The defenders of Wal-Mart say that they are so successful because they are market savvy and make good economic decisions. The other side argues that Wal

Similar Essays

Globalization Of The Wal Mart Essay

1030 words - 4 pages the time, and customer will flock to you". This policy gave Wal-mart enormous success around the country. With this policy they have attracted lots of customers and from one store started in Rogers, Arkansas they grew into nine super centers till 1990 and then to 888 super centers in 2000. It had opened an average of 7 new super centers each month continuously for 120 months. It was an outstanding achievement. After this achievement Wal-mart was

History Of Beyond Petroleum And Wal Mart

1183 words - 5 pages 1999, Wal-Mart had extended its business to over ten countries and had an employee base of one hundred and thirty thousand employees working outside the United States of America. Wal-Mart had a worldwide employee base of more than nine hundred and fifty thousand. In 2006, Wal-Mart announced that it would collaborate with Bharti to open up retail store, in India for a period of five years. This information shows that Wal-Mart is globalizing at a

The Ethics Of Shopping At Wal Mart

1009 words - 4 pages One has to work hard to consider their values in particular issues and how strongly they feel. This is the choice many people make when they invest in mutual funds, and have no idea where their mutual funds are invested. Many vocal opponents to shopping at Wal-Mart might discover they hold investments in the Wal-Mart. There are 1050 mutual funds that are invested in Wal-Mart, some of the largest mutual funds in the world. There are many people

Company Of Wal Mart Essay

1406 words - 6 pages Wal-Mart Stores Inc. is the largest retail company in the United States and has been ranked number one on the Fortune 500 Index by Fortune Magazine. However despite the fact that the company is big, it has not survived or evaded the normal challenges that corporations go through, irrespective of whether private or public (David, 2012). For instance, the living wage bill of the United States resulted in Wal-Mat threatening to close down its