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Wal Mart Management Planning And Ethics Essay

1537 words - 6 pages

Wal-Mart PAGE 1
Wal-Mart Management Planning and EthicsManagement: Theory, Practice, and Application MGT/330October 6, 2008IntroductionSam Walton founded Wal-Mart and started operations in 1962. It was in the 1980s when this company finally showed that it could succeed. In 1983, the company opened the first Sam's club, and in 1988, the company opened the first Supercenter (Frank, 2006). The company has had opposition, and some bad press, causing the company to struggle to keep a positive image in the eyes of the public. To create a positive image the company has used three principles which are respecting individuals, customer service, and to strive for excellence. These principles beliefs helped Wal-Mart build and promote a foundation of illusion of ethical conduct and integrity (Goldberg, 2007). However, this major retail corporation has another side. Through the examination of Wal-Mart's handling of legal issues, ethics, and corporate social responsibility, one can see what this company has done to succeed in the business world.Legal Issues Generally, decision-making is a necessary reaction resulting from a problem. For instance, Barbaro and Dash (2007) stated that "Wal-Mart wanted to get approval from the government to establish a bank; however, they failed to get approval for the bank. Opposition to its plans swelled with dozens of banking and corporate watchdog groups testifying at hearings in Washington D.C." Because of this failure, top management faced a decision of whether to give up their vision for a bank, or find a way to establish banking services without needing government approval. The huge discount retailer found a way to build one without government approval. The company plans to provide money centers that offer check cashing, money orders, and bill paying services in at least 1,000 stores within a year (Barbaro & Dash, 2007). Barbaro and Dash (2007) stated, "Wal-Mart also plans to introduce a prepaid debit card, intended for low-income consumers." Barbaro and Dash (2007) stated, "The decision makers within Wal-Mart clearly had a perception that they could make an end run around the federal government. Products like the debit cards will be offered through third-party partners, who will allow Wal-Mart to sell banking services without a government license." This decision by Wal-Mart executives clearly reflected a rational decision-making process. The executives made a consistent, value-maximizing choice within specific constraints.EthicsWal-Mart would be an exceptional company to work for in an executive role. Unfortunately, I cannot repeat that statement if I were to work as a cashier, associate, or customer service representative. Goldberg (2007) stated, "Today, Wal-Mart is the second-largest company in the world in terms of revenue-second only to Exxon Mobil." Gross revenues amounted to more than 350 billion dollars last year. Wal-Mart has a reputation for caring a great deal about their dedicated staff (Goldberg, 2007)....

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