There are millions of impoverished families with men struggling to find jobs, women trying to purchase cheap food and clothing and children attempting to find a worthwhile place to spend their limited allowance. Despite Walmart’s reputation as the world’s largest retailer, grossing revenues upwards of 400 billion USD in the recent fiscal years, Walmart is able to provide these families with a consolidated solution to their needs, while providing millions of jobs internationally. Evidently, the company has a large positive impact on the domestic economic state and the international economic state, but there are extensive criticisms of Walmart that have seemed to shadow it’s extensive positive contributions. Exposing the benefits of having the transnational corporation run in our economies, the source provided has expressed a view that Walmart has been instrumental in improving the quality of life for millions of people across the globe, and thus, exemplifies how a large corporations can bring positive change to the global community. The message that the source conveys should be embraced as Walmart exemplifies how an efficient, focused and seamless globalized corporation can have positive impacts on our world. This viewpoint will be explored further by examining how Walmart exemplifies high efficiency, how it provides employment and is advantageous to the global economy.
Walmart’s fundamental principles and the results that it exhibits both indicate that the transnational behemoth exemplifies high efficiency in the retail sector. By exemplifying high efficiency, it directly aids millions of consumers by offering them lower prices. Instead of raising prices of merchandise due to extravagant wages, excess stocking, procedural inefficiencies and expensive manufacturing, Walmart opts for the cheapest, most effective methods of acquiring and selling merchandise. Thus, Walmart can provide consumers with lower prices while still generating profits. From a reputed investment firm, Walmart saves consumers that shop at its stores, an average of 2000 dollars per year. Considering that Walmart has a large customer range, with a majority of consumers coming from a lower income class, these increased savings can be used elsewhere for other essentials. In other words, Walmart provides a large part of its customers with sustainability that they wouldn’t have been able to have without their cheap products. In addition to the sustainability that Walmart offers many of its consumers, the corporation also strives for environmental sustainability. Environmental sustainability starts with reducing the amount of waste that we use and Walmart has been able to effectively implement that in its stores. To exemplify high efficiency, Walmart reduces waste costs for excessive packaging, along with many other implementations that support the environment. Notably, the company insisted on purchasing smaller boxes to save waste cardboard and resources for its Cheerios brand cereal from manufacturer General Mills. This represents how Walmart’s objective of achieving high efficiency is able to support the environment, in addition to supporting its customers, which are both undoubtedly positive impacts on our world.
With Walmart being the largest retailer on the planet, with retail spaces and manufacturers across the globe, it is a perfect example of economic globalization’s success, but also explains how Walmart provides employment to millions of people. With the majority of its retail spaces within North America, Walmart continues to be the leading private employer in its domestic country, the United States of America. By providing these jobs to millions of Americans, Walmart provides them with a chance to make a living and increase their quality of life, which they would, in most cases, not otherwise be able to get. Apart from providing millions of retail jobs domestically, Walmart also indirectly employs millions of workers abroad by outsourcing a large portion of its manufacturing. In fact, China exports to Walmart accounted for 11 percent of the Chinese trade with the US in the last fiscal year. With a significant portion of the entire nations trade, Walmart essentially provided millions of jobs to those in China working in manufacturing the exported products, and thus, increased the quality of life of those who would have lived in even more desperate conditions than their American counterparts. In addition to China, Walmart purchases from other international manufacturers and the same effects are seen in those nations. Thus, Walmart provides employment both domestically and internationally, consequently significantly increasing the quality of life of those individuals employed or indirectly employed by or because of Walmart.
Many critics of Walmart continue to oppose the corporation due to two main points. Firstly, opposition claims that Walmart’s wages are too low for their employees to live adequately, especially considering that Walmart is one of the world’s largest companies. In response to this, Walmart is not at the low end, or at the high of the spectrum, but Walmart hires many people. If Walmart was to increase wages, then the price of their products would have to increase, which is detrimental to the welfare of millions of low income Walmart consumers. Secondly, Walmart is criticized for outsourcing their production and taking away North American jobs. Although this may be true, Walmart does this to keep prices low for their consumers as outsourced products are manufactured for much less cost. In addition, by outsourcing their labour, Walmart is able to provide millions of foreign workers with a steady income. Due to the fact that Walmart is the largest retail corporation in the world, the most insubstantial discrepancies within Walmart are not proportional to its positive impacts.
In conclusion, Walmart is able to provide extensive advantages to society’s economies and social aspects of life to its consumers and its domestic and international communities that exceed the negative aspects of it, that it can be deemed as advantageous to society.
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