In: Operations Management
It’s a place everyone knows, much like the post office or even city hall. Wal-Mart. It's an American multinational retail corporation just as well known as staples for towns across the nation. It has hypermarkets, discount department stores, and grocery stores. The founder of the company is Sam Walton. It is not operating only in United States but across the world with different operating names. It is a family-owned business having the world's largest revenue and also the largest private employer in the world. Wal-Mart is an astonishingly successful business with humble beginnings, but have a rocky road ahead in terms of social issues due to the treatment of employees and it's strong effects on the economy
Wal-Mart has a positive or negative influence on our economy and society, many criticizing the Wal-Mart Corporation for its negative and careless approach to becoming the powerhouse it is today.
PROS | CONS |
1. It is the worlds largest private employer in the world with 2.2 million employees. | 1. Recent reports say that it has the worst employee health care coverage. The employees don't get an adequate salary. |
2. t is an efficient superstore with amazing marketing, skills, and coordination. Also, it provides retail items for a lower price compared to competitors and is good for lower-income families. | 2. Wal Mart is a bully and price decider. therefore it is great for shoppers but bad for the competitors. |
Besides these negative statements, the company is improving its social responsibility. The company has invested $100 million in programs to help workers advance their careers in retail, and is funding the training for one million farmers at the supplier level. The company also is holding its seafood suppliers to a set of sustainability standards and is working to eliminate unethical labor practices at the supplier level.
Walmart's report states the company is collaborating with industry experts, NGOs, suppliers, and the company's own research to address risks pertaining to social issues in the supply chain. The company also stated a commitment to addressing "major risks to the dignity of workers" within retail supply chains by 2025.
What makes Wal-Mart such a good example of scalability is not just its size, but the principles underlying its actions, such as mainstreaming sustainability, measuring total impacts, empowering customers, working with suppliers and setting audacious goals.
Former president of US, Obama said that Walmart was leading the shift towards clean energy, which would ultimately save money and create jobs.
a. Fairtrade coffee is coffee that is certified as having been produced to fair trade standards by fair trade organizations, which create trading partnerships that are based on dialogue, transparency, and respect, with the goal of achieving greater equity in international trade.
Fairtrade ‘is a social movement whose stated goal is to help producers in developing countries achieve better trading conditions and to promote sustainability. Fair-trade certified products is a great way to promote CSR and improve a brand’s image as it provides all parties with different benefits.
Fair Trade-certified coffee is growing in consumer familiarity and sales, but strict certification requirements are resulting in uneven economic advantages for coffee growers and lower quality coffee for consumers. By failing to address these problems, industry confidence in Fair Trade coffee is slipping.
Fair trade and other attempts are a benefit to CSR and efforts towards sustainability. It is because of the following reason:
1. It would increase the standard of living of workers and farmers and ensures food security.
2. It would provide decent working standards towards employees.
3. Environmental protection is a key element of Fairtrade’s view of sustainability
4. It would increase market access.
5. It leads towards gender equality and productivity and quality.