walmart ethical & unethical business practices
TRANSCRIPT
BUSINESS ETHICS & CORPORATE SOCIAL RESPONSIBILITY
BUSINESS ETHICS
Moral principles concerning acceptable and unacceptable behavior by business people. Executives are supposed to maintain a high sense of values and conduct honesty and fair practices with the public.
Business Ethics towards various People
CUSTOMERS DISTRIBUTORSEMPLOYEES SHAREHOLDERS
SOCIETY SUPPLIERSINVESTORSGOVERNMENT
Big Retail Giant
Headquartered in Bentonville, Arkansas. Topped the list of Fortune’s Global 2000. Large Numbers of Customers. Over 2 million employees worldwide – one of
the largest private employers in the nation. World-Wide Business.
On July 2, 1962, Walton opened the first Wal-Mart Discount City store.
In 1968, it opened its first stores outside Arkansas. The company was incorporated as Wal-Mart Stores, Inc. on
October 31, 1969. In 1970 it had 38 stores operating with 1,500 employees and
sales of $44.2 million.
History of WAL-MART
SAM WALTON
In October,1970, Wall-Mart was listed on the New York Stock Exchange.
In the 1980s, Wal-Mart continued to grow rapidly, 1987- 2002. In 2002, it was listed for the first time as America's largest
corporation on the Fortune 500 list, with revenues of $219.8 billion and profits of $6.7 billion.
Growth during 2005 $312billion sales, 6,200 stores & 1.6 million workers .
Enter of new policies during 2007,2009 & 2010.
100 million customers every week. "Low prices, always" Helping Hands Helps in saving money. Private label brands.
Ethical Business Practice
WAL-MART and Workforce relations
Unethical Business Practice
Wages Working conditions
Health insurance
Gender and sexual orientation
Use of illegal workersChild labor violations
Labor union opposition
2010 Race Incident
Harm to endangered species
Utilitarianism theory : Own purpose V/s people benefits
Applying to Ethical Theory
• Wal-Mart has been subject to criticism by various groups and individuals.
• Labor unions, community groups, grassroots organizations, religious organizations, and environmental groups protest against Wal-Mart policies and business practices.
• Other areas of criticism include the corporation's foreign product sourcing, treatment of product suppliers, environmental practices, the use of public subsidies, and the company’s security policies.
• Wal-Mart denies doing anything wrong and maintains that low prices are the result of efficiency.
CONCLUSION
“Man’s ethical behavior should be based effectually on sympathy, education and social ties and needs; no religious basis is necessary. Man would indeed be in a poor way if he had to be restrained by fear of punishment and hope of reward after death”
-Albert Einstein.