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This creates the largest challenge for a global company like WalMart which has to ensure that it keeps up with changes that are happening in different states and countries. For example the rules for employees in Massachusetts are different from those in New York. This creates challenges for the organization in trying to keep up with compliance to legal standards.
Cultural change around the world is also creating challenges for compliance to legal standards since global organizations have to keep up with cultures, some of which may just be short-lived. There is also uncertainty of the global market which makes the organizations to suffer damage from changing consumer perceptions that may or may not be related to changes in their culture Delmar & Shane, 2003.
Trying to balance their reputation with these changing cultures is tricky and some organizations have had issues in gauging the importance of their reputation vs. The culture and regulatory standards of their region of operation Brush, Bromiley, & Hendrickx, 1999()
Prevention strategies that support organizational compliance, growth, and sustainability
WalMart embarks on different strategies to support its compliance, growth and sustainability. The first is that it ensures that it sets for itself goals and objectives that are tied to the legal standards for its various business locations. A good example of this is the recent campaign to reduce their emissions considerably. The company started by establishing the procedure for doing this which was supported by a large legal framework and supported by other environmental aspects. Second is the organization's structure which involves a global ethics office and in-country or regional ethics committees which are charged with the responsibility of analyzing changes in the law and how they affect the documentation, communication and general operation of the organization. These are then documented and the necessary resources for the implementation of each new aspect detailed and presented to the global ethics office which then updates their statement of ethics and guiding principles.
The company also conducts regular audits to check for nonconformance or noncompliance to...
This helps them to identify and maintain the highest standards of legal compliance that foster growth and sustainability. Management reviews are also important in helping to support organizational compliance towards growth and sustainability since they encourage the legal standards are upheld at all times while allowing sufficient time for changes to policy, goals and objectives to be effected.
Rationale for how these prevention strategies support organizational compliance, growth, and sustainability
These prevention strategies for WalMart help to support its growth, sustainability and compliance since they ensure that the organization is regularly aware of changes to the legislative framework around which it operates which helps it to understand the potential consequences of each law. They also help to sustain the resources available to the organization by ensuring that jobs, communities and industries are sustained through providing safe and healthy working conditions for employees, equal and fair opportunities for employees and ensuring suppliers keep the same standards as WalMart. These help to promote equity and thus improve the quality of life and well-being of the employees and community at large Shenkar, 2004.
They also ensure that there is continuous learning and development within the organization which helps to ensure compliance with regulation and reducing costs related to environmental fines or other legal battles.
References
Brush, T.H., Bromiley, P., & Hendrickx, M. (1999). The Relative Influence of Industry and Corporation on Business Segment Performance: An Alternative Estimate. Strategic Management Journal, 20(6), 519-547. doi: 10.2307/3094110
Delmar, F., & Shane, S. (2003). Does Business Planning Facilitate the Development of New Ventures? Strategic Management Journal, 24(12), 1165-1185. doi: 10.2307/20060610
Groot, M.D., & Vrielink, M.O. (1998). Legal Theory and Sociological Facts. Law and Philosophy, 17(3), 251-270. doi: 10.2307/3504881
Shenkar, O. (2004). One More Time: International Business in a Global Economy. Journal of International Business Studies, 35(2), 161-171. doi: 10.2307/3875249
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