Summarize Wal-Mart and their effects on business ethics.© BrainMass Inc. brainmass.com June 4, 2020, 5:19 am ad1c9bdddf
Wal-Mart is an organization that is known worldwide for both its success, and its negative impacts in the business community. The company employs over 1.7 million people worldwide, with 1.3 million people accounting for its United States payroll (Ferrell, 2012). Despite its size and rapid growth, Wal-Mart is continually facing concerns over employee working conditions. As the company moves forward, it must clearly define a strategy to address these growing concerns.
The driving force behind Wal-Mart's business model is the motto, "Everyday Low Prices." The company has three core beliefs it uses to accomplish their mission. First, respect for the individual. Second is service to their customers. Finally, third is striving for excellence. These three core beliefs build a solid foundation for Wal-Mart to be successful.
As a new Wal-Mart opens in a new area, several things happen. Generally, grocery prices will reduce by 25% in the area (Ferrell, 2012). The competition that survives is usually forced to reduce their prices to remain competitive, however many competitors are simply forced to close due to an inability to compete with Wal-Mart. Critics of Wal-Mart point out that while the company hires several employees, their employees are low wage jobs and many have no benefits and are held to under 28 hours to keep them at a part time status. Even more alarming, is that an estimated 46% of Wal-Mart employees qualify for Medicaid benefits.
Wal-Mart comes from humble beginnings. Founder Sam Walton began his retail career by opening a variety ...
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