What ethnic and social responsibility does Walmart take and how does the stake holders benefit if the organization displays social responsibility.
Q1) Walmart is the world’s largest consumer goods retailer with thousands of stores across the world. It has huge warehouses and handles lakhs of SKUs daily. Walmart operates at humongous scale and hence it is responsible to multiple stakeholders in the places where it operates.
Below is how Walmart undertakes social and ethical responsibility –
- Usage of renewable energy for its operations and consuming less water
- Recycling waste and packaging materials
- Giving to community in the form of funds,fulfilling developmental needs of the people etc.
- Funds towards disaster relief and recovery
- Creating ethical partnerships and helping the supply chain partners to grow
- Divresity and inclusion initiatives
Q2) The stakeholders of Walmart benefit in multiple ways if the organization displays social responsibility as highlighted below –
- Strengthening and development of local communities
- Employee growth and development
- Positive impact from sustainability leads to goodwill thus increasing sales and bringing profits to shareholders
- Healthier and greener products for consumers