Corporate Social Responsibility (CSR) of Walmart

Published: 2021-01-25 13:10:25
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Walmart is a multinational company that was founded by Sam Walton in 1962. Later on in 1969, the company was incorporated as a corporation for the sale of retail and wholesale groceries (Frank, 2008). This company has its headquarters in Bentonville, Arkansas in the United States. Today, Walmart it has a total of 11,526 stores spread across 28 countries. Notably, it operates under different names in all those countries that it has branches. However, in the United States and Canada, it operates under the name Walmart stores. According to the Fortune Global List released in 2014, Walmart was ranked as the world largest company in terms of revenue (Frank, 2008). Additionally, the list also recognized the company as the largest private employer in the world with employees exceeding 2.2 million.

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According to Gunther (2011), more than any other firm in the United States, Walmart has arguably been the best in terms of Corporate Social Responsibility. Indeed it has helped the United States government stroll towards economic sustainability. Economic sustainability is the ability of a nation to be stable financially for a couple of years without the fear of failing year after year. Despite the recession and challenges that the company has faced over the years, it has, nevertheless, continued to make good sales (Gunther, 2011). In a nutshell, Walmart has even exceeded its goals and objectives. In this regard, it has ensured that it maintains its stance on the generation of zero waste, continued use of renewable energy, and the sale of products that are environmentally friendly. In this regard, the company has employed the tactic of strategic philanthropy so as to appease its customers as well as further its business interests. Specifically, the company has helped the small firms that deal with agriculture. In its corporate social responsibility, the company has specifically, done the following.

Walmart has ensured that it converts the wastes which are major environmental pollutants into useful products. Specifically, it has diverted almost 80% of all wastes that were dumped in landfills in California into something better (Walmart, 2015). What was previously a nuisance to the environment and a cost center for the government was converted by to huge revenues. In this regard, the company has partnered with non-profit making organization for what is referred to as cause marketing. This refers to the behavior where a company that is profit oriented partners with another which is non-profit making so that both can mutually benefit. According to Gunther (2011), Walmart has helped in waste collection and management by donating its 100 refrigerated trucks to food banks. This way, it has ensured that a sound waste management system is in place.

In its continued support of the local industry, Walmart has been very instrumental in the growth of local firms. In this regard, it has almost double the sales of the locally produced commodities in its stores. Indeed, the company has accounted for 9% of the local produce sold in 2015. By the end of the year, the company intends to source over $1 billion food items from the local small and medium sized companies (Walmart, 2015). Additionally, it has eliminated the middlemen who at times have been a bad taste for the local firms. This has been a shared value between the local firms Walmart. Shared value is where businesses address the social problems while at the same time furthering its business objectives. Besides, the company has planned to start selling fresh produce which further their culture of efficiency that has existed for years.

The use of clean energy has been the other area of social responsibility that Walmart has been excellent in. in this regard, the organization has endeared towards being powered by 100% renewable energy (Walmart, 2015).. Specifically, the company has championed for the use of solar energy and wind power which are environmentally friendly. However, these have come at a cost to the company since; they are more expensive than the fossil fuels. However it has involved all the stakeholders in the energy industry to plan on how they are going to reduce the emission of greenhouse gases by using renewable sources of energy. Notably, the effects of green n house gases can be viewed from a global perspective. In this case, global warming has been a matter of international concern. Therefore, the address that Walmart has given on the issue is beneficial to the whole world.

In conclusion, Walmart is a multinational organization that was deals with groceries and which has various branches across 18 countries. The company has the biggest sales volume in the world. As such, it is one of the determinants of the sustainability of the US economy. As a company built on corporate social responsibility, the company has ensured that it converts wastes into useful products. In this regard, it has donated 100 refrigerators to food banks. Additionally its strategic philanthropy towards the local firms has helped them grow. However, the most important of all, is the role that the company has played in reducing global warming. In this regard, the company has embraced the use of renewable sources of energy. As such, it has been a very important organization for the environment and local people as well.

References

Frank, T. (2008). A Brief History of Walmart. Reclaim Democracy!. Retrieved 30 November 2015, from http://reclaimdemocracy.org/brief-history-of-walmart/Gunther, M. (2011). Walmart's CSR Report Shows the Power, and Limits, of Efficiency. GreenBiz. Retrieved 30 November 2015, from http://www.greenbiz.com/blog/2011/04/25/walmarts-csr-report-shows-power-limits-efficiency Walmart, (2015). Global Responsibility Report. Retrieved from https://cdn.corporate.walmart.com/c0/24/2383f0674d27823dcf7083e6fbc6/2015-global-responsibility-report.pdf

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