Wal-Mart and its CSRPosted: March 24, 2011
According to Wikipedia Corporate social responsibility is a form of corporate self-regulation integrated into a business model. We heard a small bit about Wal-Mart and how it’s trying to
We saw in our lecture on Wednesday a part of the list of the 100 largest economic entities in the world. Currently Wal-Mart is number 19 on the list and it has been predicted that in the next couple of years it could be in the top 10.
Recently Wal-Mart developed three long-term goals
- to be 100 per cent supplied by renewable energy
- to make stores 25 per cent more efficient
- to create zero waste.
Wal-Mart only manufactures 8% of the products it sells. In order to become more environmentally friendly Wal-Mart must look to its suppliers. But Wal-Mart isn’t relying solely on the suppliers. They has created energy-efficient stores such as its Supercenter in Texas. The Supercenter is powered by wind turbines. It has more than 160 skylights and it uses advanced heating and cooling systems. It also recycles cooking oil from the kitchen to provide supplemental heating. Wal-Mart saves over $300,000,000 a year in its fuels costs by reducing its emission’s and becoming more environmentally friendly. Wal-Mart has said that if themselves and their suppliers can’t figure out the what a problem is on their own or find a solution they go directly to the source of the problem e.g. the farmers who grow the product, in order to try and reach a solution.
Wal-Mart showed how much a company can help the surrounding community if they embrace corporate social responsibility in the aftermath of Hurricane Katrina. The government was unable to deliver food, medicine and water to the people who were stranded and left homeless by the storm. Wal-Mart stepped in and provided the community with these vital necessities.