Walmart Business Philosophy

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Wal-Mart is one of the largest retailers in the world. It is a multinational company with over 11,000 stores (“Walmart Locations around the World,” n.d.). The brand name is synonymous with low prices. In fact, Walmart’s mission is to offer quality products at the lowest price. The company achieves its “everyday low prices” by ensuring its business practices are both efficient and effective (Ferrell, Fraedrich, & Ferrell, 2014). The company also prides itself by offering best-in-class customer service. However, recently, Walmart has come under scrutiny for some questionable business practices. Accusations of bribery, environmental and human safety malpractice, and illegal anti-union tactics have brought Walmart’s ethical values under …show more content…
In fact, Walmart’s “everyday low prices” have been able to save their customers hundreds of dollars each year (Ferrell et al., 2014). However, Walmart’s quest to offer the lowest prices has come at the expense of its supply and employee stakeholders. Critics argue that in order for Walmart to offer such great deals on its products, the company cuts costs in other areas of the business, including employee pay and benefits and supplier costs. Walmart has a great deal of power and influence being the United States’ “largest retailer, second largest corporation, and largest private employer” (Jordan, n.d., para. 1). However, it is the not the highest paying company in the United States. For example, a cashier at Walmart makes as low as $8.48 an hour, whereas a worker at Wholefoods makes $17.57 an hour (MacBride, 2014). This is a significant difference that fails to go unnoticed by both employee stakeholders and the American …show more content…
Walmart has a business philosophy of offering low prices and great customer service. However, the organization should not offer low prices at the expense of its stakeholders. For example, instead of looking for ways to cut employee benefits, the company should see benefits as a way to reward its employees and strengthen loyalty. Moreover, Walmart should consider the perceptions of stakeholders when it comes to ethical decision-making. To this end, when it comes to ethical decision-making, Walmart should be forward thinking and consider risk management. Lastly, Walmart can improve the employees’ perspectives of Walmart’s human resources policies by forthright about employee rights and offering competitive wages and

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