Phenomenon of Wal-Mart Corporation - Essay Example

ANNOTATED BIBLIOGRAPHY Brunn, S. (Ed 2006). Wal-Mart World. New York. Summary: Brunn’s study on Wal-Mart corporation is considered one of the most thorough and detailed analysis performed by business scholars and analysts to date. Particularly, Stanley Brunn attempts to explain the determinants, the patterns and tendencies on how Wal-Mart became the world’s largest company, and what it does currently to remain on top of the list. Brunn’s books consists of five parts, explaining Wal-Mart’s place in the world trade, its organizational culture, company’s history and how globalization impacts the further development of Wal-Mart. Evaluation/Assessment: Brunn’s books is a collection of works and analytical studies conducted by more than twenty business scholars, therefore it offers a broad view on the subject – why Wa-Mart became a business phenomenon, and why it became so controversial. Quotations: “Wal-Mart always tries to look for specific places to build its stores, where the small stores are located. Because Wal-Mart wants to build it’s store next to small stores” (Brunn, p. 294). “The salaries are lower than the others stores and it is $4 to $7 depending on the employees’ level.” Dicker, J. (2005). The United States of Wal-Mart. New York. Summary: Dicker’s book is a successful attempt to explain the controversial nature of Wal-Mart as American retail phenomenon. Dicker’s provides a thorough analysis explain the social and economic problems associated with Wal-Mart’s retail dominance, particularly its low wages, continuously decreasing social benefits for its workers, anti-union policies, outsourcing, and negative impact on local communities and local business. Evaluation/Assessment: Dicker’s book, besides being a solid analytic study on Wal-Mart, provides an additional sociocultural emphasis on Wal-Mart’s lasting consequences. Book’s chapter two effectively explains how Wal-Mart became an “ethos” for contemporary American, and what business and cultural determinants led to this. Fishman, C. (2006). The Wal-Mart effect. New York. Summary: Unlike the mainstream literature on Wal-Mart, Charles Fishman’s book represents an analytical attempt to evaluate both “pros” and “cons” of Wal-Mart operations. Fishman provides an explanation that Wal-Mart constitutes a typical reflection of American economy and its transformation over the last 20 years. Evaluation/Assessment: Fishman objectively analyzes Wal-Mart’s positive and negative effects on American economy and social and cultural parts of American society. Author admits that Wal-Mart brings some specific monetary benefits to an average American family. Simultaneously, utilizing interviewing approach to problem analysis, Fishman reveals how Wal-Mart’s pricing strategy led its suppliers and manufacturers, those who traditionally dictate business and cooperation conditions to retailers, to pitiful consequences. Quotations: “Wal-Mart does not say that pert-time employees those working fewer than thirty-four hours a week-must work for two years before becoming eligible to insurance” (Fishman, p. 240). “The employees cannot put insurance for their families…Wal-Mart employees, or their family members, actually get their health insurance from Medicaid, or from state government insurance programs for the poor” (p. 240). Freeman, R. (2003). Wal-Mart collapses U.S. cities and towns. Retrieved Nov, 21.2004, from http://www.larouchepub.com/other/2003/3045walmart_iowa.html Summary: Freeman’s article is a journalistic attempt to explain the negative impact of Wal-Mart’s on the United States local economies. In his article, Freeman urges for public policies to be implemented in order to ease the negative side of Wal-Mart company. Taking as an example the Iowa state, Freeman analyzes how Wal-Mart expansion into state’s local communities affected local businesses and middle class. Evaluation/Assessment: Because Freeman’s article constitutes a journalistic approach to a problem, the tone of the analysis and perspective this dilemma is analyzed from are negative. Practically, Freeman in his critique does not provide any viable solution to alter Wal-Mart’s expansion or minimize its negative consequences. Quotations: “Wal-Mart both reflects, and is, a major driving force for Americas deadly implementation of the Imperial Rome model. Unable to produce physical goods to sustain its own existence, the United States, like Rome, sucks in imported goods from around the world, using, in this case, a dollar that is over-valued by 50-60%” (Freeman, par.2). Gereffi, G. (2004). Watch the full programs online. Retrieved Nov, 16.2004, from Summary: Frontline program “Is Wal-Mart Good for America” examines how Wal-Mart development impacts the United States job losses, and how Americans’ desire to economize and save relates to this truly macroeconomic problem. Program consists of 5 chapters, including “Wal-Mart’s revolutionary power,” “Muscling manufacturers,” “The strategy: low costs and go global” (the central and most important one), "“China’s view of Wal-Mart,” and “Taking the Hits.” Evaluation/Assessment: Frontline program constitutes a solid and a very critical documentary on Wal-Mart’s problem. Particularly, third chapter of documentary explains the main problem of Wal-Mart – to be capable to keep prices that low, company needs to produce items overseas, and this causes job losses across America, local business bankruptcies, etc. Quotations: Wal-Mart has a very close relationship with China … China is the largest the exporter to the U.S. economy in virtually all consumer goods categories. Wal-Mart is leading retailer in the U.S. economy in virtually all consumer goods categories. Wal-Mart and China are a joint venture (Gereffi, par.6). Quinn, B. (1998). How Wal-Mart is destroying America: and what you can do about it. Berkeley, California. Summary: Quinn’s book is an attempt to explain an idea of why Wal-Mart should be considered one of the most fearful corporations in the United States. Quinn’s approach is to examine Wal-Mart’s lasting negative effect on local businesses. Quinn provides multiple examples of lawsuits, vendors’ rights violations and other instances of Wal-Mart negative impact on local business. Evaluation/Assessment: Quinn’s books brought out one important question: why Wal-Mart expansion is always conducted in America’s rural areas? Is it a smart real estate strategy or just a caution not to go into regions where its negative impact will immediately become a national issue? Quotations: “Wal-Mart will open its stores in this town because it just considers having stores all over the world focusing on the people. As a result, all the stores that are next to Wal-Mart will close, because the people will not need them. They need a store that sells everything they want with cheap prices. That is how Wal-Mart affects the other businesses” (Quinn, p.234). Wal-Mart offers job so that all the benefit are just for the Wal-Mart (Quinn, p.5). Read More