12-15 slide Microsoft PowerPoint presentatio

Running Head: Corporate Law 1

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Walmart - CSR

Corporate Social Responsibility

History

Walmart, formerly known as Wal-Mart Stores Inc. with its headquarters at Arkansas was started by Sam Walton in the year 1962. After one year of its establishment, it started capturing the international market by setting up new stores in Mexico. They started growing by establishing new stores or by acquiring the retailers that are established in nations such as Germany, Canada. By 1999, the company had its sales doubled. Gradually, it started acquiring e-commerce industries such as Jet.com, Moosejaw, and finally, in the year 2018, it has changed its name to Walmart. In 2020, the net worth of the organisation has risen to $514.405 billion and hence making it the largest retailer in the world in terms of revenue. Out of the company's three segments, Walmart U.S. alone manages to attain 65% of the company's net sales. At present, the company is having 11,501 stores all around the world (Szecsei, 2020).

Walmart is the largest multinational retail corporation of America operating a chain of hypermarkets, having a huge contribution towards the generation of employment, contribution towards the GDP and it also helps by making donations to uplift the employment, health, and wellness, they also donated more than a million volunteer hours to encourage the services of the community.

Organization’s Products and Services

Walmart offers various goods and services, this includes goods retailing, photo services, pharmacy, financial services in which credit cards, money transfers, bill payments are included. They also partnered with T-mobile and started offering wireless phone services (Washington, 2017). With a huge customer base, the organisation covers both the retail and the wholesale customers as it is available for all and thereby creating a huge customer base for them. The area of operations is quite wide as it covers different sectors such as grocery, technology, finance, and telecommunication.

Target Corp (TGT) is considered as the main rival of Walmart with an operation of approx. 1800 stores. They also adopted the strategy of low-pricing as that of Walmart but TGT concentrated on the e-commerce platform, as a result, their sales rises over 30% in 2018. TGT beats them in gross and net profit margin and in terms of profitability, the performance of TGT is far better than Walmart (Healy, 2020).

Code of Ethics

Being the largest organisation in the U.S., it has social responsibilities towards the customers and employees. The company is based upon three principles which include aiming for excellence, quality services to its customers, respecting the individuals. Walmart has clung to various principles in its ethics, some of them are transparency of companies' information, obey the laws, consulting with the Ethics office in case of any discrepancy in ethics (Walmart, 2020).

Mission, Vision, and Values

Walmart is working with the mission "to save the money of the people and improving their life". This mission clarifies the companies’ perspective in achieving the highest goal in the sectors that it touches. The vision of the organisation is to build itself as the most favorable shopping hub by its client (Ferguson, 2019). The statement of mission tells about the plan of action of the company to get itself towards the set vision. The organisation is working on the values that include service and respect to the customer, act with integrity; these values are parallel with the behaviors which if practised by the associates will help them in achieving their set business results (Mission Statement, 2019).

Walmart is running a foundation with the name of Walmart Foundation which helps the U.S. initiatives that are more focused on the economic, employment, environmental sectors. Walmart should consider helping the homeless rather than providing more discounts to the customers, as the customer won’t get affected by a mere decrease in the percentage of discount offered to them, but using this excess amount that they receive from the customer towards the welfare of the homeless and needy persons. Being a multinational company, they also have a social responsibility that should be fulfilled by them.

Considering the above stats, Walmart is much focused on customer satisfaction as well as fulfilling its social responsibilities by actively participating in various social causes and it is recommended for them to also focus to help the needy and homeless thus fulfilling its social responsibilities to a greater extent.

Bibliography

Ferguson, E. (2019, 02 13). Walmart’s Mission Statement & Vision Statement, Generic & Intensive Strategies. Retrieved 11 03, 2020, from http://panmore.com/walmart-vision-mission-statement-intensive-generic-strategies

Healy, W. (2020, 01 24). How Target Compares With Its 3 Main Rivals. Retrieved 11 03, 2020, from https://www.fool.com/investing/2020/01/24/how-target-compares-with-its-3-main-rivals.aspx

Mission Statement. (2019, 07 12). WALMART MISSION AND VISION STATEMENT ANALYSIS. Retrieved 11 03, 2020, from https://mission-statement.com/walmart/

Szecsei, S. (2020, 07 11). 25 Walmart Statistics to Showcase the Retailer Giant’s Power. Retrieved 11 03, 2020, from https://capitalcounselor.com/walmart-statistics/#:~:text=Top%2010%20Walmart%20Statistics%20and%20Facts%20You%20Should%20Know&text=In%202020%2C%20the%20company%20will,the%20most%20sales%E2%80%9456%25.

Walmart. (2020). Global Ethics & Compliance. Retrieved 11 03, 2020, from https://corporate.walmart.com/our-story/global-ethics-compliance

Washington, T. (2017, 09 26). What Kind of Service Does Wal-Mart Provide? Retrieved 11 02, 2020, from https://bizfluent.com/info-8296998-kind-service-walmart-provide.html