It is essential for each firm that to fulfill its corporate social responsibility in order to sustain in the market for longer duration. The present report is based on Wal-Mart which is the leading retail firm. Company operates its business globally and provides high quality retail products to consumer. Current study will give brief summary of issues faced by firm and will describe solutions for resolving these problems.
Wal-Mart is fulfilling its corporate social responsibilities and conducting its operations in such manner so that it does not harm society, environment. Cited firm adopts effective human resource planning that assist the entity in raising performance of employees. It gives adequate training to staff members so that they perform their work effectively (Charter, 2017). .HR department of Wal-Mart is concern for its workers thus, motivate them well so they retain in the firm for longer duration.
There are many issues related with environment that are taking place due to policies of Wal-Mart. Practices of the firm is increasing wastage of raw material and air emission type of issues. That is why company is unable to fulfill its corporate social responsibilities effectively. But entity has made changes in its polices and has implemented recycling programs, wastage management system that help in reducing wastage and fulfilling corporate social responsibilities. Wal-Mart has stopped using polythene bags. Wal-Mart has identified various issues due to which it is unable to provide benefit to its stakeholders and fail to fulfill its corporate responsibilities towards people, planet (Crane, Matten and Spence,2013).
Wal-Mart has numerous opportunity through it can fulfill its corporate responsibility and can enhance its brand reputation. Company has opportunity to identify needs and interest of stakeholders and address their interest. There are various stakeholders of Wal-Mart: investors, customers, suppliers etc. Company should develop strong relationship with these stakeholders and need to fulfill their desires. Cited firm has opportunity to expand its business and reduce its product’s cost (Muñoz and Cohen,2018). By this way it will be able to provide more benefit to its stakeholders. Strategic partnership with local brand is new opportunity for the firm that can help the entity in identifying needs of population and offering them satisfactory products as well. Company can raise quality of its products, it is new opportunity for the business by this way it will be able to attract more consumers towards the brand. Government of the nation has made many environment laws that help in protecting natural resources and protecting environment safe. Company has opportunity to implements these norms in workplace and contribute well in reducing pollution and reducing wastage of natural resources so that atmosphere can remain clean. Wal-Mart can use landfills in order to dig wastage materials. This will help in reusing the material so that no harm causes to planet (Ross, Pandey and Ross, 2015).
From the above study it can be concluded that Wal-Mart is facing issues related with environment, people and profit but if company fulfills its corporate responsibilities then it will assist business unit in sustaining in the market for longer duration.