Is Walmart socially responsible or not socially responsible?
While Walmart is considered the best when it comes to the retail sector and low-cost leader when it comes to its generic strategy, it is also known to be socially irresponsible in its conduct and its operations. First of all, Walmart opens up stores in locations where the local business is congregated, by introducing the lowest possible operational cost and lowest offered prices, it reduces or drives the competition away from the area, creating an unsuitable environment for competition to grow. On the one hand, people get goods at a lower price, while on the other it causes a decline in locally owned businesses. Second, it is also known for employing immigrants with meager wages, to reduce their operational cost and shows no consideration for the economy in this regard. While Walmart has consistently improved on these fronts, it is still sometimes seen in the headlines facing a lawsuit from its employees citing unfair wages and working conditions, especially towards the immigrant population. Such actions are downright unethical and show no concern for social responsibility or accountability.
For reference, I have used the data from the article on CEPR
titled, “Walmart: always low prices means always low
wages.”
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