WAL-MART: THE HIGH COST OF CHEAP LIVING
Consumers enjoy the “Everyday Low Prices” the saying Wal-Mart swears by, however many realize that such low prices come at a very high cost. Wal-Mart has convinced a generation to sell their souls at a so called bargain. It has become so successful mainly by disregarding and defying the very laws passed to guard against unfair labor and discrimination in general. Consumers are sometimes blinded to this because of the convenience and benefits that come along with such a mega-store.
Wal-Mart was established in 1962 as a retail store by Sam Walton. His break-through idea was passing any savings he received from wholesalers on to consumers. It is a public company NYSE: WMT. In 2005, it was already mega store and listed #1 retailer in the world and on the Fortune 500 list. Globally, Wal-Mart employs over 2.9 million people and operates more than 5, 000 stores
It is organized in three separate ways; Wal-Mart stores, SAM’S Club and the International Division. It is headed by the S. Robson Walton, Chairman of the Board; Duties include, but are not limited to, setting the Board’s agenda; overseeing and ensuring that company goals are met accordingly; with the board’s support, and can exercise hiring and firing powers, with some exceptions, including CEO’s. H. Lee Scott Jr., President, and CEO, Duties include but are not limited to setting company goals and objectives; oversees executive board’s smooth operation; spearheads company’s efforts to fulfill its mission and projections.
Michael Terry Duke, Vice Chairman, International Division. Duties include, but are not limited to, acting as a liaison between the chairman and those beneath him; (in this case) oversees daily and future operations of all things relating to company’s international business operations.
It is important to highlight the negative effects because it will reflect the need for labor and management to have, at minimum, a working relationship. When...