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Wal-Mart to Spend $50 Billion on Products Made in America - Essay Example

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Another thing that informed Wal-Mart’s critics to its former strategy is their stance that Wal-Mart was not being patriotic to its…
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Wal-Mart to Spend $50 Billion on Products Made in America
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Wal-Mart to Spend $50 Billion on Products Made in America

Download file to see previous pages... Local manufacturers are one of the groups that stand to benefit from Wal-Mart’s decision to source goods in the United States. 1881 Mills is one such manufacturer that will benefit from the extended contract that it has struck with Wal-Mart. Suppliers dealing in highly-automated production are the other group that will benefit from Wal-Mart’s move. The public stands to benefit from the additional jobs that will be created by these local manufacturers and suppliers in order to meet Wal-Mart’s increased demand. The economy of the United States will benefit from the improved production that this move will bring (ABC News p3).
Wal-Mart has an obligation to provide workers in China and other foreign markets who will be displayed by Wal-Mart’s new strategy with time to adjust and find other jobs. Corporate social responsibility would require that as an employer, Wal-Mart should factor in the welfare of the people who will be affected by any of its policy decisions and one such group of people are these workers. Wal-Mart should care not to terminate its foreign sourcing quickly because this would leave many of these foreign workers jobless. This can have devastating effects on the lives of these workers and, by extension, the economies of their countries (ABC News p3).
Wal-Mart’s decision to source more goods locally means it might have to charge more for such products and this will have direct impacts on local consumers. This will dig deeper into my consumer surplus and I might have to consider buying certain goods from other stores. I however have an ethical responsibility to buy U.S.-made products even if they cost more because this will contribute to the growth of the economy of my home country. Ethical responsibility requires that as a consumer, I should go beyond caring for my personal financial wellbeing to considering how my buying patterns influences other people ...Download file to see next pagesRead More
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