Walmart's Shift Towards Social Responsibility and Stakeholder Engagement
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1) The document discusses Walmart's strategies to reform its conduct and become more socially responsible by improving its relationships with stakeholders such as employees, the environment, communities, suppliers, and the government. 2) It outlines some of the unethical practices Walmart previously engaged in that negatively impacted stakeholders, such as low wages, discrimination, urban sprawl, and violating labor laws. 3) The document then describes Walmart's efforts to transform into a more sustainable company by increasing wages and benefits, promoting diversity, minimizing environmental impacts, and ensuring legal compliance.
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Walmart's Shift Towards Social Responsibility and Stakeholder Engagement
- 1. STAKEHOLDERS RELATIONSHIPS, SOCIAL RESPONSIBILITY AND CORPORATE GOVERNENCE Adhyatmika | Amir Hamzah | David | Kynan | Tantia
- 2. CONTENT Walmart Reforming Unethical The Practice Conduct Becoming a The Shift Social into the Responsible Future Company
- 3. Stakeholders and Corporate Governance
- 4. World Largest Retailer 4,219 retailers in the US 3,171 retailers in world wide Employ 1,5 mio people & result into USD 256.3 bio
- 5. Wall-Mart Strategy Brand Mantra Enable everyday low price and above average profitability Through procuring , distribution and selling products…… ……at lower cost than any competitor Stakeholders and Corporate Governance
- 6. Wal-Mart is The Retail Phenomena because .... Significant share on the total US • Highly efficient supply Market chain Wal-Mart 17% • Low Product Cost with high variety Other • High barriers of entry in Retailers which others can not 83% outcompete Stakeholders and Corporate Governance
- 7. However, Low Cost is at COST of The Stakeholders Stakeholders and Corporate Governance
- 8. The Stakeholders….. Special Interest Customers The Mass media Groups Govern Employe ment es Company Community Shareholders Trade Competitors Associations Suppliers Environment Stakeholders and Corporate Governance
- 9. The High Cost for the Workers…. • Low Wages and Custom ers benefits Govern Employe • Objecting Unions ment es • Discrimination • Illegal immigrants Company Commu Shareho nity lders Supplier Environment s Stakeholders and Corporate Governance
- 10. The High Cost for the Environment • Urban Scrawl, create Custom ers congestion with less green Govern Employe areas ment es • Violating storm water regulation and air quality Comp restriction Commu any Shareho nity lders Supplier Environment s Stakeholders and Corporate Governance
- 11. The High Cost for the Suppliers Custom • As Low Price As ers Possible Govern Employe ment es • Distributor – .Supplier Power and Conflicts Company Commu Shareho nity lders • Unfair Competition • Predatory Pricing Suppliers Environment Competitors Stakeholders and Corporate Governance
- 12. The High Cost for the Community Custom ers • Destroy the local Govern Employe ment es industry due to the high distributor power Company Commu Shareho nity lders Supplier Environment s Stakeholders and Corporate Governance
- 13. The High Cost Bourne by the Government • Violating the legal rule on Custom ers employing illegal workers Govern Employe • Bribery for the local ment es government to own the most strategic location and Comp to employ illegal Commu any Shareho immigrants nity lders Supplier Environment s Stakeholders and Corporate Governance
- 14. And the Question is… Is it Ethical? Low cost doesn’t have to be at cost of the stakeholders The practice will ruin the company in the long run ……It sacrifice the sustainability Stakeholders and Corporate Governance
- 15. Stakeholders and Corporate Governance
- 16. Transformation to be More Socially Responsible Company Diversity Charitable Sustainability Giving Stakeholders and Corporate Governance
- 17. Wal-Mart’s turning into New Leaf…. Supplier • Global Responsible Sourcing Initiative Customers • Improve the standard of living for customer’s worldwide • Walmart Money Card Employee • Raising pay-tied and employee insurance based Environment • Waste improvement & recycling • Natural Resources • Energy • Social/community impact Stakeholders and Corporate Governance
- 18. And The Strategy Works! Enhance the Reputation during Crisis Walmart take a loop to be recognized for its sustainable market orientation Through improving the stakeholder’s relationship Stakeholders and Corporate Governance
- 19. IS IT ETHICAL AND SUSTAINABLE ENOUGH? Stakeholders and Corporate Governance
- 20. Steps of Social Responsibility Philanthropic Had not yet given back to the society Had improved the relationship with the Ethical stakeholders hence only on the surface Increasing the customer’s living Economic standards, based on Walmart’s view Legal Needs to comply all rules The solutions had not yet solved the core problems Stakeholders and Corporate Governance
- 21. Resolving the Stakeholders Issues: Employees Problems Solution Indicators Low Wages and Comparison with the Increasing wages and legal minimum total cost benefits benefits standards of living Opportunity to run Harmonization between Objecting Unions the employee and the unions company Percentages of Promoting diversity & Discrimination equal opportunity employees from different genders & races Compliance with legal All employees as legal Illegal immigrants workforce rules workers Stakeholders and Corporate Governance
- 22. Resolving the Stakeholders Issues: Environment Problems Solution Indicators Minimizing emissions Urban Scrawl, create and waste Energy Usage Rate congestion with less green areas Minimizing the use of energy Waste product Rate Conservation of Violating storm energy water regulation and air quality Minimizing adverse Green Area Coverage restriction environmental effects of goods and services Stakeholders and Corporate Governance
- 23. Resolving the Stakeholders Issues: Community Problems Solution Indicators Initiative to develop Development of local the local industry market and industry Destroy the local Availability of industry due to the Public Health and emergency response high distributor safety protection plan power Donations to Annual employee support local time spent in organization community services Stakeholders and Corporate Governance
- 24. Resolving the Stakeholders Issues: Suppliers Problems Solution Indicators Encouraging Prices offered to As Low Price As suppliers in suppliers in developed countries on comparison Possible developing to countries’ other countries suppliers Distributor – Encouraging Percentage of Supplier Power Minority Suppliers Minority Suppliers and Conflicts Stakeholders and Corporate Governance
- 25. Resolving the Stakeholders Issues: Government Problems Solution Indicators Violating the legal Abide the Basic The legal rights for rule on employing Legal rules for all employees illegal workers Employees Bribery for the local government to own the Ensure legality on The legality most strategic location each company and to employ illegal basic procedures fulfillment immigrants Stakeholders and Corporate Governance
- 26. Stakeholders and Corporate Governance
- 27. The Long Term View Transforming for Long term Sustainability Secure the Future Through Corporate Governance Accountability & Transparency Ethical decision embodied in all corporate strategy Balance both share holders and stake holders view Stakeholders and Corporate Governance
- 28. Grow the Business along with Growing the Stakeholders. Through Which, the business can sustain on the long term Stakeholders and Corporate Governance
- 29. THANK YOU Stakeholders and Corporate Governance