Is Wal-Mart's Stated Vision Aligned With The Needs Of Their Stakeholders?

You used to love someone in the past, or date someone. Everything is fireworks, everyone else is wrong. Then, after a few weeks or months of creative feelings, you begin to decline or fail, you return to the earth and evaluate your needs, desires and goals. After reading "Walman's middle-aged crisis", Wal-Mart's current CEO Lee Scott seems to try to maintain business by starting a new relationship everyday, not working on the current relationship .

Organization Profile: Wal-Mart Wal-Mart is the world's largest retailer. From the standpoint of Wal-Mart, the company is responsible for contributing to supporting community of stores. As an organization, the success of Wal-Mart is attributed to its business people. Wal-Mart asks the community to continue the business, Trevino and Nelson said, "The main stakeholders of the business must be the community of the company and other organizations."

Stakeholders are classified into two main stakeholders and secondary stakeholders. For Wal-Mart, people responsible for investment and possession of Wal-Mart are considered to be key stakeholders. They include shareholders of Wal-Mart, direct and indirect investors of the company, and so on. Secondary stakeholders of Wal-Mart include people who maintain their business by actively participating in business management. Classifying the stakeholders of Wal-Mart in this manner is mainly based on the characteristics of stakeholders. In many cases, key stakeholders, like secondary stakeholders, are not directly involved in actual business operations. Both primary stakeholders and secondary stakeholders are responsible for the business ethics that form the basis of business. From this point of view, we can conclude that the attitudes of Wal-Mart stakeholders are decisive for the development of the entire enterprise.

The Wal-Mart initiative states, "The concept of Global Ethics Office is to support Wal-Mart's ownership of the ethical culture of all stakeholders around the world." Sam Walton, the company's founder, believes that the service the client receives is very important. Sam Walton shared his vision with his staff and asked them to take responsibility for the way his first shop is being operated, and later his other store. Mr. Walton placed a welcome clerk at the entrance of the store and asked him to know the name of the customer. Even though he thought the competitor failed in a reliable way, he lowered the price and even committed the customer.