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Essay / Wal-Mart Business Ethics - 567
Wal-Mart is currently eradicating some of its negative images by going green, maintaining continually low prices, contributing to disaster relief, community service, and incentivizing Americans to lose weight when it comes to health. Research shows that Wal-Mart believes that by making these changes now, it would help them move closer to the company's core goals of respecting the individual and serving customers with quality customer service superior and excellent. Wal-Mart also desires and expects its suppliers to adhere to these beliefs in their contracts, subcontracts and other business relationships. With Wal-Mart deciding to improve its social performance by addressing these particular concerns, this could help Wal-Mart to have a better reputation. According to the philosopher Milton Friedman, the only herd responsibility of a corporation is to increase the profits of its shareholders. From a utilitarian perspective, we can visually perceive that Wal-Mart acts in a way that produces the greatest possible balance between the good and the discontent of its shareholders. Wal-Mart fulfills its fiduciary duties to its shareholders by not increasing the salaries of its employees, but by taking the amount in foreign exchange and returning it to its shareholders and shareholders such as customers and suppliers. Wal-Mart breeds happiness from the number of people who invest in the company. Ethics is about the consequences of an action and the consequences of Wal-Mart's actions result in the greatest good for the people who are the major shareholders of the company. Another angle of Wal-Mart is its “high cost, low price problem.” . It appears Wal-Mart doesn't even pay its own employees enough to shop at Wal-Mart. Wal-Mart's mission statement does not include profit maximization as a fundamental goal. The main objective of the organization is therefore to provide excellent customer service. The average employee works approximately 32 hours per week for $8.00 per hour. This works out to approximately $256.00 per week, or $13,312.00 per year. The U.S. government states that the national poverty level is approximately $14,630.00 for a family of 3. One might think of how Wal-Mart states that their number one goal is customer service when some of their employees are their customers and can't even shop. its stores. An additional revelation about Wal-Mart would be its ability to oust small retailers from its immediate environment. Research shows that opening Wal-Mart stores results in higher-paying jobs being replaced by lower-paying jobs..