Case Study Of Wal-Mart's Business Practice
Wal-Mart’s Business Practice
Big corporations are known for their revenues and the social impact in our society. Many times, the media ignore what is behind the success of these companies. Behind Wal-Mart’s success there are thousands of people who work every day to serve communities by bringing the lowest prices on the market and providing excellent customer service to millions of families. The strong culture of this company is another attribution for the success of this firm. According to the study of organizational behavior, working for a common goal successfully involves higher employee productivity, strong communication, healthy employee relationships, diversity and effective management. By analyzing Wal-Mart’s business practices, those factors need to be reviewed in order to understand the management techniques that make their employees and managers work efficiently and understand why at the same time, there are so many issues on which Wal-Mart is severely criticized. There are many aspects that can make a business look unbeatable, but there are others that can make it look evil, because as Samakow (2014) states, “Go out and build your business. Be wildly …show more content…
However, is there any price or consequences that our community really has to pay for obtaining such low prices from Wal-Mart’s products? The answer depends on how people benefit from it, and how others are negatively affected. It is important to look at the statistics to understand the consequences of their business practices, the causes and the possible solution to those issues. According to Prowse (2006), “Wal-Mart is currently the subject of the largest class action lawsuit in history” (p. 2). Wal-Mart is repeatedly accused of unethical business practices implemented by the leaders of this company, affecting not only its business reputation, the economy of smaller business but affecting their employees as
Big corporations are known for their revenues and the social impact in our society. Many times, the media ignore what is behind the success of these companies. Behind Wal-Mart’s success there are thousands of people who work every day to serve communities by bringing the lowest prices on the market and providing excellent customer service to millions of families. The strong culture of this company is another attribution for the success of this firm. According to the study of organizational behavior, working for a common goal successfully involves higher employee productivity, strong communication, healthy employee relationships, diversity and effective management. By analyzing Wal-Mart’s business practices, those factors need to be reviewed in order to understand the management techniques that make their employees and managers work efficiently and understand why at the same time, there are so many issues on which Wal-Mart is severely criticized. There are many aspects that can make a business look unbeatable, but there are others that can make it look evil, because as Samakow (2014) states, “Go out and build your business. Be wildly …show more content…
However, is there any price or consequences that our community really has to pay for obtaining such low prices from Wal-Mart’s products? The answer depends on how people benefit from it, and how others are negatively affected. It is important to look at the statistics to understand the consequences of their business practices, the causes and the possible solution to those issues. According to Prowse (2006), “Wal-Mart is currently the subject of the largest class action lawsuit in history” (p. 2). Wal-Mart is repeatedly accused of unethical business practices implemented by the leaders of this company, affecting not only its business reputation, the economy of smaller business but affecting their employees as