Walmart is world famous corporation which was basically established in America. The stores and services are provided worldwide. They drive a sustainable chain of stores. These stores include grocery stores, hypermarkets, supermarkets, etc. The company was owned and operated by Mr. Sam Walton in the year 1962.
Till today’s date Walmart consist of 11,368 stores and clubs in 27 other countries. The company operates under 55 distinct names under the mother company Walmart.
According to the fortune global 500 lists in 2018, Walmart is the world largest company with a revenue of over $500 billion along with the largest employee hiring of 2.2 million around the world. It is owned by the family and publicly traded business controlled by the Walton family.
Walmart grew rapidly into worlds largest corporation.
Few environmental related initiatives were taken by Walmart to increase the efficiency of energy to improvise the overall energy record which was not sufficient previously. They targeted to reduce green house gases by 20% in seven years to reduce energy wastes co-operated with the transport facilities of Walmart.
The company stores later decided to work and design on non- conventional energy by experimenting with wind turbines, photo voltaic solar panels, bio fuels, water-cooled refrigerators, Xeri space gardens, etc.
Walmart stood for itself and recognized as the largest store in the world to sell organic milk. Then they also became the biggest buyer of organic cotton by simultaneously reducing packaging and energy costs.
Relationship with labors:
More than 2.3 million employees work worldwide for Walmart. Company has undergone huge lawsuits and issues related to the employees.
Company pressurized workers not to get involved in social strikes, for example, on Black Friday and took legal actions against the ones who got engaged in strikes. There was an immediate statistic studied that there are around 70% of employees that quit the job within a span of one year.
Even after having an overall growth rate and turnover rate, the company is still facing and affected by unemployment rates. Being the 2nd largest employer, company face maximum issues regarding the employee.
Along with employee issues faced being 2nd largest employer, the company also faced criticism from labor unions, community groups, several organizations like grassroots, religious, environmental, firearm, and company’s own employees and customers.
They faced opposition against companies policies, business practices, charges of racial and gender inequality, treatment of suppliers, employee compensation, working conditions and facilities, environmental issues, company’s security, etc. facing all these circumstances, company denies of doing anything wrong and maintains lower rates as a result of efficiency.
Purpose of Walmart:
The Walmart mission is to save people money so they can live a better life with less cost accounted.
The company idealize “Save money, live better” by taking a few strategic decisions regarding the business that could improvise business and could properly justify the mission and vision of the company
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The company even after having social and environmental issues, it works on the development and vision stated by the company’s founder