WAL-MART is the largest revenue earning public corporation and a regularly featured organization on fortune 500 list. Wal-Mart Stores, Inc. or Wal-Mart is an American public corporation that runs a chain of large, discount department stores. It is the world's largest public corporation by revenue, Founded by Sam Walton in 1962, it was incorporated on October 31, 1969, and listed on the New York Stock Exchange in 1972. It is the largest private employer in the world and the fourth largest utility or commercial employer, Wal-Mart is the largest grocery retailer in the United States, with an estimated 20% of the retail grocery and consumables business. It also owns and operates the North American company, Sam's club. A description of the company and management style of the organization The operations that take place in Wal-Mart are specifically related to products.This organizational structure is so vast and the base is so unshakeable that repeated attempts to take over have proved futile because reconstruction costs were higher than the gross earnings. The best of efforts at reconstruction costs has only gone to prove that it has not been possible to arrive at any sort of renovations and plausible solutions. The structure speaks for itself. The guiding principles and the founding charter have made what Wal-Mart is today. Wal-Mart calls it ethical principles which are supplier oriented principles which would guide all associates of Wal-Mart to abide by it. These in short have made Wal-Mart such a tall name and a store which stands little competition worldwide in terms of retail sales.” Wal-Mart stands for law abiding, unbiased and honest.( Walton and Huey, 1992)
Identify and briefly describe the stakeholders of the selected organization.
The stakeholders of an organization are both internal and external. When an organization weaves into its operational philosophy, ethics and a societal responsibility, then the building guidelines make the organization adhere to laws and self regulating mechanisms that turn the organization into a socially responsible unit. Wal-Mart as everyone knows is a giant store. The name speaks volumes of the type of business that Wal-Mart does. It is the largest private employer in the US and almost every big town in the US has more than one Wal-Mart store. The organization’s strategy is very simple. It supplies all household consumables at affordable prices and hence the customers who visit it are from all class of income groups, ages and demographics.Wal-Mart is a full store in the sense that it has everything that is needed by consumers and new products are being added as part of expansion. Any neighborhood which has a Wal-Mart store is said to be a good district as the presence of the store itself has many local advantages to the area. Wal-Mart stores have been targeted by all groups of people who see the store to be a giant moth eating up butterflies. A new Wal-Mart store in the neighborhood or in a small town has its own advantages and disadvantages. The target groups who consider Wal-Mart to be a threat are the small retailers and small stores. The residents of the small town could also have their own reasons for allowing a store of this size to open. The very objective of such CSR activities undertaken by Wal-Mart is to deliver value to its customers and develop the neighbor community. The presence of a Wal Mart store improves the neighborhood in the sense that many outsiders and shoppers are attracted to the neighborhood making the town planners associate themselves with town planning. The initiatives taken by Wal –Mart to feed the veterans and old people has been noteworthy. The Wall Mart charter of corporate responsibility says that the donation of 1.5 million dollars towards feeding the old ad starved in recognized places would put the profits earned by Wal Mart into a more healthy perspective. The charter of the CSR also speaks of the low price business model on...
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Walton, S. and Huey, J. (1992). Sam Walton, made in America. 1st ed. New York: Doubleday.
After Early Errors, Wal-Mart Thinks Locally to Act Globally - WSJ.com
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Lichtenstein Nelson, Wal-Mart- The Face of Twenty-First-Century Capitalism
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