Global Perspectives On Ethics: The Wal-mart Effect By Charles Fishman (Reaction Paper Sample)
Write about “The Wal-Mart Effect by Charles Fishman. Chose and describe the three most important aspects (concepts, issues, factual information, etc.)
MUST JUSTIFY YOUR CHOICES.
You must identify two aspects of the reading that you either don't understand or which you disagree, and briefly discuss why these aspects interfered with your understanding or lead to your disagreement of the reading. Must put them in priority order and limit yourself to two most important ones. You MUST justify your choices.
You must Contemplate and express what you believe are the implications or applications of the texts.
Global Perspectives on Ethics: Wal-Mart
“The Wal-Mart Effect” by Charles Fishman offers fundamental insights into understanding the imperative impact of Wal-Mart to the consumers, suppliers, competitors, and the economy. Fishman shows great affection for how the pricing strategy employed by the organization has become a critical aspect in attracting and retaining consumers, but at the same time compromising the survival of its suppliers. Additionally, the company has made conditions unfavorable for other retail players, who cannot afford to engage in the price competition with the organization. Fishman highlights that the story of Wal-Mart is about the transformation of the American economy in the past two decades, with its intense growth and globalization. Insights from Fishman offers a vivid description of the merits and demerits of the organization. These elements are highlighted by the following major aspects identified from the analysis.
Wal-Mart’s business strategy is centered on reducing the retail prices to make goods more affordable to the consumers. The strategy also influences the adoption of sustainability in the organization. Notably, no other organization has been able to slash prices and have a substantial impact on the American population by making a bountiful lifestyle for the low income-earners in the country. Fishman alludes that the company’s focus on sustainability fostered by Lee Scott is among the key decisions ever made by someone in the company. Subsequently, the concept of transformation to increase sustainability was embraced by the Environmental Defense Fund (EDF). Through these strategic undertakings, the company has managed to create a loyal customer base and expand its market share beyond the American borders. The focus on sustainability facilitates reduction of the product prices, by reducing the cost of production and the value gained is transferred to the consumers purchasing from Wal-Mart.
In this context, the Wal-Mart effect is exemplified by Fishman by reflecting on the ability of the company to transform the retailing sector, the pricing strategies embraced in the market, and how and where products are manufactured. By attracting a large number of consumers, the company was able to shun criticism that might have compromised its performance. The large customer base gave the company confidence to strengthen its business strategy, increase price cuts, and venture into new markets. The transformation to focus on sustainability offered an opportunity to focus on the niche of consumers, who were more interested in environmentally friendly products. In this light, Fishman informs that the key was focusing on environmental conservation through reduced packaging that led to fewer trees being cut and ensure that there was increased traceability of products to warrant that there was an effective supply chain management and provision of healthy products. Through these undertakings, Wal-Mart was
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