According to the research findings it can be observed that Wal-Mart violated many appropriate practices in lieu with standard ethical framework. As a result, the brand image of the company has been harmed critically. The unethical practices can impact effective work environment and market share of Wal-Mart…
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The pursuit of revenue and economic development should not be accomplished by violating the community’s rules, ethics, morals, respects, honesty and quality. Improved business performances, incomes and financial developments can occur if organisations successfully and proficiently raise and satisfy the rational expectations of the primary stakeholders. Success of any organisation is eventually measured by revenues and losses, communally responsible organisation can produce the wealth and the revenue essential to run business effectively and stay in the market over long run. A publicly responsible organisation must produce adequate revenue to fulfil the actual cost of wealth. The publicly irresponsible organisations, however fail to fulfil those costs because they are unable to satisfy the reasonable expectations of the stakeholders (U.S. Department of Commerce, 2004). A responsible organisation creates profit through satisfying the requirements of customers. It creates more wealth by fulfilling investors’ prospects for higher return on investment. Responsible organisations raise the efficiency by motivating and retaining the best workers. It decreases the operating expenses by minimising the rate of errors, misconducts and confusions (U.S. Department of Commerce, 2004). As the economy is becoming more global, organisations are viewing that the best method for raising wealth is through making prospects for people particularly in the developing countries. It is a challenge for every organisation to maintain steadiness between evolving international customs, morals, ethics, cultures, business practices and social requirements. In international market, organisations perform several...
The paper tells that ethical foundation has become an important aspect for every company to conduct business in today’s ever changing world. Several companies believe that performing ethically is worthy for effective business performance and its impact can be enjoyed in the long run. An organisation which wishes to develop a positive image must be concerned about its customers’ requirements, society’s requirements, suppliers’ requirements, and requirements of employees’. Companies which are concerned about those above aspects should act ethically. In order to ensure good ethical practices, organisations need to implement ‘code of ethics’ and abide by them appropriately. Code of ethics helps organisations to notify their employees about the vision, brand image and objectives. Maintaining ethics in business is critical for every successful organisation. It not only preserves generosity of an organisation but its affect can also be enjoyed in the long run. An organisation which has sound business ethics has more probability of success compared to organisations which are involved in corrupted business activities. A sustainable company can draw the attention of potential investors and it can be achieved with sound ethical performances. From the above analysis, it can be observed that Wal-Mart violated many appropriate practices in lieu with standard ethical framework. As a result, the brand image of the company has been harmed critically. The unethical practices can impact effective work environment and market share of Wal-Mart.
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2) The following questions relate to Walmart’s market and financial performance. I recommend that you use either Walmart’s annual report or the company’s 10K report to answer the questions. To do so, go to Walmart’s website,
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