Strategic and Business Goal Economic Research Paper

Download this Research Paper in word format (.doc)

Note: Sample below may appear distorted but all corresponding word document files contain proper formatting

Excerpt from Research Paper:



Wal-Mart employs over 2 million individual worldwide. The Wal-Mart employees are referred to as associates and this is done out of both a sense of respect, as well as the realization of the important role played by the employees in the creation of organizational success. Wal-Mart argues that one of its goals is that of making the world a better place for its customers, shareholders, but also for its associates. The organization addresses the prospective employees through various channels, including the most recent internet recruiting.

The company lures future associates through the promise of several benefits. These benefits are generally divided into two categories: health and wellness benefits and financial benefits. The first category of benefits includes medical coverage, dental insurance, business travel insurance, disability coverage or illness protection. The financial incentives include a stock purchase plan, a retirement account rollover, discounts on purchases, paid holidays, Wal-Mart profit sharing and the 401 K. plan (The Wal-Mart Stores Website).

Still, despite these benefits, the company continues to encounters several critical aspects in its approach of the employees. In other words, there are several human resource issues which should be addressed. Some of the more noteworthy ones include:

(a) Lack of financial incentives -- the Wal-Mart employees are paid minimum wage and their levels of on-the-job satisfaction are decreased. While this strategy is recognized as necessary in the maintenance of the lowest retail prices, it should also be recognized that it creates internal tensions.

On the one hand, there is the dissatisfaction revealed in the relationship with the employer, represented by the managers. Employees will tend to reduce their commitment to completing the tasks assigned to them by their supervisors. On the other hand, the dissatisfaction of the staff members would be felt in the relationship with the customers. Not being able to benefit from the proper assistance, the customers' satisfaction would also decrease, all to impact the final profitability levels of the corporation.

This status quo points to a situation in which the retail giant cannot afford to not address the problem of employee dissatisfaction. In other words, with the implied risks of increasing operational costs, it is recommendable for the company to present its associates with more financial incentives.

(b) Lack of non-financial incentives -- the Wal-Mart employees often argue that the medical insurance they receive from the employer is insufficient and that they often have to pay for the medical services from their own pockets. Also, there have been complaints according to which the treatment of the employees is far from being equal. According to the current and former employees at Wal-Mart interviewed in Greenwald's documentary, the company favors white males for promotions in managerial positions. Women and different ethnicities are said to be discriminated against.

This situation creates the disadvantages observed throughout the previous section -- employee dissatisfaction, poor performances, customer dissatisfaction -- but also generates a new series of problems. Given a context in which such accusations of discrimination within the workplace continue to surface, the public reputation of the company will be negatively impacted. Also, it is possible for investigations to be launched which could lead to millions of dollars in loses.

In a context of globalization and international openness to cultural diversity, Wal-Mart's discriminatory practices will only jeopardize the firm. The advice is then that of creating equal employment opportunities for all staff members. It would even be possible to organize culturally diverse groups in which the associates can become better acquainted with the various cultures. In the long run, this strategy would also help in better interacting with the culturally diverse customers.

A final recommendation is that of increasing the sense of safety and security at the job and outside the job. This can be achieved through a better guarding of the Wal-Mart facilities on the one hand, and by the offering of training programs, on the other hand. While it might sound intriguing, the offering of training programs will sustain the formation of the individuals and will support their professional future. It will also increase their satisfaction levels, and as such their performances.

References:

Greenwald, R., 2005, Wal-Mart: The High Cost of Low Price

Wal-Mart 2009 Annual Report, http://walmartstores.com/sites/AnnualReport/2009/making.html last accessed on April 9, 2010

Wal-Mart Stores Website, http://walmartstores.com last accessed on April 9, 2010

Wal-Mart Website, http://www.walmart.com last accessed on April 9, 2010

Wal-Mart Watch, http://walmartwatch.com /…[continue]

Cite This Research Paper:

"Strategic And Business Goal Economic" (2010, April 09) Retrieved December 10, 2016, from http://www.paperdue.com/essay/strategic-and-business-goal-economic-1543

"Strategic And Business Goal Economic" 09 April 2010. Web.10 December. 2016. <http://www.paperdue.com/essay/strategic-and-business-goal-economic-1543>

"Strategic And Business Goal Economic", 09 April 2010, Accessed.10 December. 2016, http://www.paperdue.com/essay/strategic-and-business-goal-economic-1543

Other Documents Pertaining To This Topic

  • Strategic Planning the Internationalized Economic

    5. Strategic recommendation The strategic possibilities mentioned above are all important and have the ability to provide the financial institution with long-term stability. Nonetheless, since the company possesses limited financial resources at the time being, but also due to the complexity of the external and internal environments, not all four strategies can be developed. It is at this stage necessary to implement strictly those strategies which serve the immediate needs of

  • HRM Strategy and Business Goals According to

    HRM Strategy and Business Goals: According to recommendations of the human resource management literature, organizations which sustain a human resource management strategy and practices that are in accordance with business mission usually record high performance. This performance basically includes high performance work practices and increased economic performance. Therefore, human resource executives play a significant role in the creation of competitive advantage within organizations. Human resource management practices are critical for choosing,

  • Business Level Corporate Level Strategies Business Level Corporate Level...

    Business Level Corporate Level Strategies Business-Level Corporate-Level Strategies Analyze the business-level strategies Analyze the corporate-level strategies Analyze the competitive environment Difference in slow-cycle and fast-cycle markets The corporate strategy of a business is based on the vision and mission of the entity. It also lays a foundation stone for business and functional strategies. The industry sector specific to the business is also influential factor in developing strategies for a specific corporation. Diversification in related and unrelated

  • Business Intelligence Unlike Its Military Counterpart Business

    Business Intelligence Unlike its Military counterpart, Business Intelligence is not an oxymoron. There are many examples of successful implementations of Business Intelligence despite the challenges. This paper explores the purposes for and the complexities of data processing systems that are designed to provide tools for top managers in their task of wading through swamps of unrelated information as they hone in on supports for taking critical business decisions. A possible confusion of

  • Strategic Planning Outline AMR Research

    Summary of Recommendations 1. Goals of the recommendations to the Board of Directors for AMR Research: a. Seek to stabilize the firm during turbulent economic conditions b. Capitalize on the growth potential of Web 2.0 technologies and social networking. 2. Starting with competitiveness a. AMR needs to create greater levels of process-based expertise that is relevant to enterprise accounts b. Transform this expertise and use it in the context of assessing and evaluating vendor clients' strategies. 3.

  • Economics of Cost and Production

    " (Kee, 2001, p. 139) To further this discussion of short- and long-term production and cost one must at least briefly understand the just-in-time model. This model was developed by the Toyota Motor Corporation to mirror the ability of certain suppliers to provide just the amount of a product that a market demanded at the time it was demanded. To apply this model to manufacturing one must have a careful set

  • Strategic Marketing Defining a Marketing

    P&G has very strong technical expertise, can provide labels on the redesigned packaging of Facelle showing how it excels in biodegradability, and is good for the environment. Millennial consumers thrive on sustainability and eco-friendly labeling as well and this will increase sales in this segment (Furlow, Knott, 2009). P&G will need to be careful to not over-state the sustainability of eco-friendly nature of the brand or it could potentially


Read Full Research Paper
Copyright 2016 . All Rights Reserved