Report and Recommendation for Walmart

Report and Recommendation for Walmart Student’s Name: Student’s Number: Institution: Table of Contents TOC \o "1-3" \h \z \u Abstract PAGEREF _Toc14698264 \h 2Report and Recommendation for Walmart PAGEREF _Toc14698265 \h 4Overview of Walmart. PAGEREF _Toc14698266 \h 4Target Audience and Thesis PAGEREF _Toc14698267 \h 5Discussion PAGEREF _Toc14698268 \h 5Points in support of the Thesis PAGEREF _Toc14698269 \h 5Potential Opposition PAGEREF _Toc14698270 \h 9Conclusion PAGEREF _Toc14698271 \h 9References. PAGEREF _Toc14698272 \h 11 Abstract Stakeholders, directly and indirectly, influence the direction and success of any company. Walmart is no different because to date, its stakeholders have facilitated the strategic direction that they are taking in its retail operation and overall business as well as their success in its ultimate worldwide establishments. Although the stakeholders of the company have been pushing its businesses in to considering their interests, there have been major problems involving stakeholder interaction and managerial services. This paper seeks to examine Walmart Supermarkets, particularly its issues with stakeholders and recommend specific solutions. To understand the dynamics of the relationship between the management of the organization and its stakeholders as well as the general business at large, managers must identify the stakeholders, interact with them on a personal level and decipher their interests. Walmart will then use the information to guide their intensive decisions in order to achieve its satisfactory leadership position in stakeholder management. Report and Recommendation for Walmart Walmart has had several parties that have criticized it in various contexts. Over a long time in its history, the company has been criticized for poor treatment of employees and environmental issues including issues with tidiness. These parties include the U.S. union leaders, feminist and activists who claim that Walmart engages in forceful and deliberate misconduct intending to provide low price assets and accessories, besides being one of the biggest organizations in the world. Subsequently, one major problem that has always been constant in the organization is its relationship with the stakeholders. It is the parties' and competitor firms’ biggest accusation stating that the low price strategy of Walmart has forced them to terminate their businesses. Overview of Walmart. Walmart is one of the leading retail companies globally and in the United States with fiscal revenue of 514.41 billion in 2019, putting it in the second position of the world's corporations after Amazon. The organization has a total of 4,769 stores throughout the United States and 11, 766 stores all over the world (Wal-Mart Stores, Inc. 2019). Walmart, formerly known as Wal-Mart Stores, was founded in the United States as a single discount store selling more products for less, to having major discount stores, supercenters and neighbourhood stores throughout the world with the signature model of selling less for more. The company embraces manager compensation for higher profits, terms its employees as associates but discourages the notion of unionized workforce since it provides its employees with the necessary training on operation and related issues. I work with the organization as a stocker, working in the backroom and receiving supplies as well as ensuring that my fellow employees in the position stock the shelves for our customers. Target Audience and Thesis The target audience of this report is the Walmart Company itself, specifically the management department of the firm since they are obliged to understand the problems discussed in this text and consider the recommendations of the analysis with the view of improving its business, profitability and its initial position as the leading corporation in the world. To improve its performance in satisfying its stakeholders, Walmart is ought to implement particular changes in its business such as increasing wages across the board and avoiding excessively low prices by negotiating with the suppliers for the best prices. The document also serves to explain that although the recommendations might increase the initial prices of products, they ensure that Walmart improves its company standing a corporate citizen in stakeholder management. Discussion Points in support of the Thesis There are many groups of individuals who have shares in the daily businesses of Walmart. The company has divided its stakeholders into two groups; market and non-market stakeholders. Market stakeholders are the individuals who have an economic stake in the organization whereas non-market stakeholders are the group of people who have a political stake which is non-economic share in what the company does. Based on interest, Walmart considers the following stakeholder groups in its corporate social responsibility strategy and arranges them according to their priorities (Wal-Mart Stores, Inc. 2019). These are investors, customers, employees and suppliers. Since all the groups are important in the business of the organization, Walmart ensures their satisfaction by involving them in the decision-making process where it identifies each of their interests in the operation and includes them at the beginning of the year goal and objective setting. Furthermore, the company has stated in its set of visions that stakeholder satisfaction is one of its primary roles. Walmart prioritizes investors. Investors' main concern in the company is profits which will, in turn, increase their dividends per share. Investors are also mainly interested in operational costs of the company because lower costs of operation mean that there will be higher profits at the end of the business, a notion that is significant to Walmart. However, recently, the company has been facing the problem of poor relationship and interactions with its investors. Between 2006 and 2012, the company faced a huge reduction in employees due to the rise of other related competing companies in the market. Moreover, between 2015 and 2019, Walmart's main competitor, Amazon, recorded a significant rise in the number of investors while Walmart was depreciating both in sales and profits (Wal-Mart Stores, Inc. 2019). Consequentially, Amazon was named the leading corporate organization in the world, a position that Walmart has been dominating for a long time. Therefore, to ensure that its investor prioritization is fundamental in its strategies, Walmart should adopt and fully effect the theory of maximization of profits through minimized costs. If this is made the primary objective, the company will increase the number of investors since they are mainly concerned with profits within the company (Dodds, 2017). The company also faces the problem of being accused and criticized for exerting a lot of pressure on their suppliers want them to provide more products for less money. The objective of the cost burden is for Walmart to achieve its lofty goals of low price essentials. The company fo...