Topic > Wal-Mart's Low Wage Problems - 1409

Times have changed dramatically for businesses since the Internet and social media became part of our daily lives. It is now easier than ever for individuals to collect data and follow organizations to ensure they are operating legally, morally and ethically. Stakeholders believe that organizations have a social obligation to manage their business in an ethical, socially and environmentally responsible manner. The term for this idea is corporate citizenship. Corporate citizenship is “the extent to which companies are socially responsible in meeting the legal, ethical and economic responsibilities assigned to them by shareholders. The goal is for businesses to create higher standards and quality of life in the communities in which they operate, while maintaining profitability for stakeholders” (Investopedia.com, 2013). Stakeholders expect organizations to conduct business in ways that meet legal, ethical, economic, and philanthropic expectations that go beyond business relationships. Many organizations include corporate responsibilities in mission statements and corporate objectives. They want stakeholders to see that they practice ethical behavior and are committed to local communities in order to maintain a positive corporate image. According to CNN Money, “Wal-Mart Stores Inc. posted revenue of $469.2 billion last year and regained the top spot on the Fortune 500 list of the largest U.S. companies by revenue” (Hathaway, 2013) . Wal-Mart has over 10,800 stores and is a company that can have a huge impact on the environment and its current and future employees. Largely due to its size and resulting influence, Wal-Mart receives constant pressure in the middle of the Walmart paper for unsafe working conditions. The Guardian. Downloaded from the World Wide Web on November 9, 2013, from http://www.alternet.org/osha-fines-walmart-unsafe-working-conditionsFreeman, R., & Ticknor, A. (2003). Wal-Mart is not a business, it's an economic disease. Executive Intelligence Review. Downloaded from the World Wide Web on November 9, 2013, from http://www.larouchepub.com/other/2003/3044wal-mart.htmlWalmart.com. (2013). 2013 Global Responsibility Report – Shareholder Engagement. Downloaded from the World Wide Web on November 10, 2013, from http://corporate.walmart.com/microsites/global-responsibility-report-2013/stakeholderEngagement.aspxUniversity of San Francisco. (2013). Walmart reports on global responsibility efforts. Downloaded from the World Wide Web on November 10, 2013 from http://www.usanfranonline.com/walmart-reports-on-global-responsibility-efforts/