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BUSINESS & GOVERNMENT - Article Example

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GOVERNMENT IN YOUR BUSINESS Name Institution Wal-Mart Inc. is a renowned American multinational retailer corporation operating chains of large discount warehouse and departmental stores. It is currently the biggest private employer in the world with slightly over 2 million employees…
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BUSINESS & GOVERNMENT
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Download file to see previous pages Further, the managers at Wal-Mart would work closely with the government to ensure that incentives offered are utilized for the growth of the company. Government is working hard to put in place long term measures that will save businesses such as Wal-Mart in case of an economic meltdown. For instance, introduction of greater ties between the interests of business and society influenced operation of Wal-Mart in terms of designing its products and services for its customers. The new regulations that the government has put place aim to promote desired behavior by preventing the company from exploiting customers. For example, Wal-Mart Company had to ask its suppliers to report about its sustainability programs by asking them to report on their environmental concerns such emission of greenhouse gases. In addition, Wal-Mart is offering funding for the development of the second party consortium, which aims to give information about the environmental footprint of its products. Other public concerns such as creation of environmental friendly products, workplace education, and training influence how Wal-Mart operates. As Wal-Mart aims to expand outside the US, government is decreasing control across national borders which implies that it is easy to circumvent tough business regulations at home while at the same time getting more friendly rules overseas where the company will be able to make profits (Reich, 2009). The move by the government to be less involved in the operation of businesses has created a close working relationship between government and businesses. For instance, Wal-Mart is opening supercenters and small shopping centers across the US to reach all customers. More so, this has enabled it to venture into other businesses such as banking, travel services, internet services and used cars. Reich (2009), states that, the government is coaxing its operations but not regulating it, which in turn has made the company successful. If the government engaged in regulating behavior, it would have blocked innovation at Wal-Mart but the introduction of coaxing measures has encouraged its innovation and expansion in US and other parts of the world. Furthermore, the government has allowed Wal-Mart to decide how to achieve its desired outcomes. For example, rather than force the company to offer specific employee benefits, Wal-Mart has been allowed to offer a minimum amount per employee into a common fund accessible to those who do not get such benefits. Wal-Mart managers engage with the government as opposed to shielding it from participating in its activities. In this manner, it is of great benefit because the system is efficient and affordable whereby both parties benefit. For any business to succeed, managers need to devote attention to public concerns and try to come up with solutions before those concerns develop into political action. For instance, it is important for Wal-Mart to convince its customers that they will produce quality goods at low prices. Wal-Mart has been vulnerable to attacks regarding ethical issues. In this purview, they have been accused of providing low pay and poor working conditions to workers. Environmental issues also threaten Wal-Mart’s success. This is against government demands, which requires that all businesses must be responsible for the activities. Further, they have to develop public trust to enable the business thrive. Managing the extended enterprise Corporate social responsibility is the ability of a company to conduct its business ...Download file to see next pagesRead More
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