Sustainable Business Development Wal-Mart Is Research Paper

The complaints centralized in the documentary reveal high degrees of discontent at the level of stakeholders both within the firm, as well as outside it. Within the company for instance, the employees pin point to a wide array of uncompetitive and demotivating practices. Within the external environment, complaints are forwarded by customers, local farmers and various other members of the communities in which the firm operates.

All in all, it becomes obvious that the business model implemented by Wal-Mart is not a sustainable one in the long-term future. The company is still registering success as it implements the low price strategy, which appeals to people especially in the context of the internationalized economic crisis. Still, such an approach to business is not sustainable within the long-term.

In order to ensure its long-term success however, it is necessary for Wal-Mart to address each and every aspect of the complaints forwarded by the various stakeholder categories. And this is important not only to satisfy the isolated stakeholder groups, but even more so as this discontent tends to generalize and would impede the company from attaining its objectives.

In this setting then, it is necessary for Wal-Mart to devise a new business approach which is more sustainable, and through which it creates more value to all customers, business partners, employees and the general communities in which it operates. Some recommendations in this sense include:

Developing and implementing training programs for the staff members, and then presenting them with promotional opportunities

Eliminating all signs of discrimination Presenting the staff members with incentives to increase their performances, such as better medical coverage, performance-based bonuses and salary raises.At this level, it is also important to regulate the approach to overtime.

Increasing the quality of the supplier contracts and eliminating cost as the single and most important criterion in choosing purveyors (American Society for Quality)

Developing contracts with the local farmers to purchase fresh produce from them. Such a measure would generate satisfaction at the level of all farmers, customers as well as the local community.

Supporting the development of the local community through various activities and commitments, such as the offering of scholarships, the organization and sponsorship of local events, the collaboration with community representatives or the development of more collaboration contracts with local purveyors, other than just the farmers.

All in all then, Wal-Mart remains an emblem of corporate success and this is due to efficiencies and low prices. But this model is not responsible and sustainable, and it would not last within the future. In order to ensure its future success, the company has to devise and implement strategies towards sustainable business development.

References:

Greenwald, R., 2005, Wal-Mart: the high cost of low price, Documentary

Rainey, D.L., 2006, Sustainable business development: inventing the future through strategy, innovation and leadership, Cambridge University Press

2012, 2011 financial review, Website of the Wal-Mart Stores, http://walmartstores.com/sites/annualreport/2011/financials.aspx last accessed on January 18, 2012

Total quality management, American Society for Quality, http://asq.org/learn-about-quality/total-quality-management/overview/overview.html last accessed on January 18, 2012.....