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Wal-mart corporate social responsibility
Wal-mart corporate social responsibility
Walmart impact on economy and community
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Corporate Social Responsibility
WALMART
Corporate.Walmart.com
Walmart.com
Table of Contents
An Overview 2
Walmart Contribution & Activities in CSR 2
• Ethical sourcing 3
• Worldwide women’s economic empowerment 3
• Hunger relief 4
• Healthy food 4
• Giving 4
• Disaster relief 5
Criticisms 5
Labor and Employer Affairs “Illegally Firing and Punishing Employees” 5
Rapacious Pricing and Supplier Issues “Stop the Bullying, Walmart” 6
Final Words 7
References 8
An Overview
Walmart is an American worldwide renowned retail corporation that runs chains of large discount department stores and warehouse stores which offers its customer a one-stop shopping experience around the world. According to the fortune global 500 list bring out this year, “the Walmart is the world’s largest public corporation and biggest private employer with over two million employees and is the largest retailer till date”.
Walmart operates more than 11,000 retail units under 69 banners in 27 countries and e-commerce websites in 10 countries and employs 2.2 million associates around the world (1.3 million in the U.S. alone).
The company was founded in 1962 by Sam Walton, and opens his first Walmart store in Rogers, Arkansas (US). Company then incorporated on October 31, 1969 as Walmart store, INC. Walmart’s shares starts flowing in the market by 1970 and publicly traded on the New York Stock Exchange in 1972. It is headquartered in Bentonville, Arkansas.
Walmart Contribution & Activities in CSR
Walmart is among a growing number of companies that have affirmed their obligation to corporate social responsibility.
Walmart in its 2013 Global Responsibility Report said that it has a responsibility to lead and an opportunity to ...
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3. Corporate, Wal-Mart. Investor Relations. (2010). Retrieved October 25, 2010 from http://investors.walmartstores.com
4. Matthews C. (July 2, 2012), "10 Ways Walmart Changed the World," Time Magazine.
5. Boudway Ira, (Dec 13, 2012) “Labor Disputes, The Walmart way." Bloomberg Business week.
6. Berfield S. (Dec 13, 2012), “Walmart vs. Union-Backed OUR Walmart," Bloomberg Business week.
7. Barstow D., (April 21, 2012) “Wal-Mart Hushed Up a Vast Mexican Bribery Case," The New York Times.
8. Lichtenstein, Nelson (21 July 2009). The Retail Revolution: How Wal-Mart Created a Brave New World of Business
9. Smith, Hedrick. "Who Calls the Shots in the Global Economy?" PBS. Retrieved July 31, 2006
The retail giant started operations in 1962 and was founded by Sam Walton. Current, Wal-Mart is the fastest growing and the biggest retailer with a total of 3,400 stores within the United States and 3,300 other stores in other parts of the major cities in the world. The retail stores have 1.5 million employees and annual revenues of more than $350 Billion.
Wal-Mart was conceived and founded by Sam Walton in 1962, at Rogers, Arkansas. Sam Walton started with just a few small variety stores, funded with borrowed money. His goal was to provide affordable products to the public to make life easier. After his success with the first few stores, Sam Walton borrowed more money to build more stores, creating the Wal-Mart empire as we see it today. The retail giant proves its stoic presence in our lives with its $401 billion sales for fiscal year 2009.
Walmart is one of the most successful franchises of all time and continues to take fire from multiple angles, whether it’s about the costing of jobs, the wages, the health insurance, the small business destruction, or the environmental impact, but can always back itself up by negating those claims with facts that proves that it is beneficial to the community.
This is a good question. Walmart started as a small five and dime in the city of Bentonville, Arkansas by a man named Sam Walton. After a great success Sam and his wife Helen moved to Rogers, Arkansas where he opened his very first Walmart. He had some retailing experience after his time in the war and he chose Bentonville for the hunting season and because his wife wanted to live in a small town. His ideas of not pocketing extra cash from manufacturers, but rather giving deals to customers and trying to make profit off of how much he sold, changed the way retailers make money in America. Sam had a cheap mindset, not only for his customers, but for himself. Even when he became the richest man in America he continued to get his hair done for
Wal-Mart initially began its operations in 1945, when Sam Walton leased a ‘Ben Franklin’ franchise variety store in Newport, Arkansas. After relocating to Rogers, Arkansas in the early 1950s, Sam Walton’s ‘Ben Franklin’ became ‘Walton’s 5 & 10’. By 1962, Walton found himself the chain owner of 11 different Walton’s stores across Arkansas. He then decided to rename the chain ‘Wal-Mart’, after himself. On October 31, 1969, after further expansion across the state, the chain was incorporated as Wal-Mart Stores, Inc. Three years later, Wal-Mart was approved and listed on the New York Stock Exchange (NYSE).
"Wal-Mart Stores, Inc. is the world's largest retailer, with $285.2 billion in sales in the fiscal year ending Jan. 31, 2005. The company employs 1.6 million associates worldwide through more than 3,700 facilities in the United States and more than 2,400 units in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea, and the United Kingdom. More than 138 million customers per week visit Wal-Mart stores worldwide." (Walmartfacts.com)
Wal-Mart is the world's largest retailer and second largest corporation. It is the largest private employer in the United States and Mexico. Wal-Mart is the largest grocery retailer in the United States, with an estimated 20% of the retail grocery and consumables business, and the largest toy seller in the United States, with an estimated 45% of the retail toy business, having surpassed Toys"R" Us in the late 1990s. Wal-Mart has 1,929 stores which as of 2005 sales figures totaled about $155,477,000,000 in sales. Wal-Marts revenue as of 2006 was an estimated $315,654 billion USD, net income $11.231billion USD, and employs more than 1.8 million employees.1
Walmart a name known globally they are a true empire. They are known as one of the largest company in the world. Sam Walton founded Walmart opening the first store in 1952 and Arkansas since then in has grown. According to Snyder Walmart is located in over 27 counties they have over a 11,000 stores and over two million employees. Walmart stands by the mission statement “We save people money so they can live better.” Walmart is known for is super low prices, and they compete with anyone who tries to enter their market. Walmart has a very formal and bureaucratic structure. There is a very clear hierarchy and commands come from the top and flows to the bottom. Although Walmart is so successful they have received lots of backlash due to some
Quinn, Bill. How Walmart Is Destroying America (and the world), And What You Can Do About It. Third Edition. Ten Speed Press, 2005. Print.
Wal-Mart Stores Inc. is in the discount, variety stores industry. It was founded in 1945, Bentonville in Arkansas which is also the headquarters of Wal-Mart. Wal-Mart operates locally as well as worldwide. It operated 1209 discount stores, 1980 super centers, and 567 Sam’s Club by January 31, 2006. It has also extended its operations to many international countries. It runs its retail stores in two forms: Sam’s Club and Wal-Mart Stores. The Sam’s Club sells assorted product lines such as hardwares, electronics, jewelry, and to mention a few. The Wal-Mart stores also offer similar products in addition to the following: health and beauty products, apparel for women, men and children, household appliances etc (www.yahoo.finance.com). The Vision Statement, Mission Statement, Values and Code of Conduct, Corporate Governance: Directors, Executive Management, Committees and Stakeholder will be the key elements that will discussed in this report as it relates to Wal-Mart. In addition to that, the major trends in the general/macro environment and industry will be analyzed.
The first Walmart was opened in Rogers, Arkansas in the year 1962 by a 44-year-old man by the name of Sam Walton. When he first envisioned Walmart, Walton believed that a successful business could be built around offering lower prices and great service. Despite his retail rivals laughing at his supposedly unsustainable business model, the company became hugely successful, and its success exceeded even Walton's expectations. The company went public in 1970, and the proceeds financed a steady expansion of the business. Today, Walmart is the largest retailer in the world, as it has 8,500 stores spread across 15 countries and annual revenues of $400 billion dollars. Moreover, Walmart is the
Walmart’s employee treatment can be seen of being rather controversial. There are countless sites regarding
The Wal-mart is the largest retail chain in United States and in the world. The wal-mart was founded in the year 1962 by Mr Sam Walton. It was originally named as Wal-Mart discount city in Rogers, Arkansas. At the time when the Wal-Mart stores started in the year 1962 it was focused only in small rural cites and town which had a population of 5000 to 25000. It was soon increased to 18 stores in 1969. In the next 30 years it had more than 4750 stores across 50 states in USA and 9 countries with $245 billion sales. It started its international operations in Mexico in the year 1991 and then it expanded it to different countries across Europe and Asia.
While keeping in mind they are a business which rely on profits. Walmart is a popular company that is known for their low prices. This corporation is also known for giving back to communities by making charitable contributions of 100,000 grants annually, as well providing disaster relief to various countries burdened by disasters and donated $100 million dollars to neighborhoods and law enforcement agencies. They also provide employees with college grants to obtain a two or four year college degree, Walmart is investing in their employees by giving them an advantage in their future. Walmart has also found ways to reduce waste by creating materials that are nontoxic and are recyclable friendly. With the use of sustainability, strategic philanthropy, causing marketing, shared values and stakeholder that is why this company was ranked number one by Forbes list in
"Wal-Mart: The High Cost of Low Prices." Top Documentary Films. Web. 8 Aug 2011. .