Globalization and Capitalism Walmart Case Assignment - 1650 Words

Globalization and Capitalism: Walmart Case Assignment (Case Study Sample) Content: NameProfessorSubjectDateGlobalization and capitalism: Walmart case studyWalmart is a multinational retailing corporation that controls a series of hypermarkets, discount department stores, and grocery stores. It has its headquarters in Bentonville, Arkansas. The company was first started by Sam Walton in 1962 and amalgamized on October 31, 1969. As of February 29, 2016, Walmart was said to have 11,527 stores and clubs in 27 countries, with a total of 72 standards. The company runs under Walmart appellation in the United States of America and Canada. It maneuvers in Mexico as de MÃÆ'xico y Centro America, Asda in the UK, as Seiyu in the state of Japan, and in India as Best Price. It has entirely owned setups in various countries such as Argentina, Brazil, and Canada.Walmart is the largest firm globally by revenue as well as the largest employer in the world in the private sector with 2.2 million personnel. It is a business that is owned by the family of Walmart, and the business is run by the Waltonà ¢Ã¢â€š ¬s family. Sam Walton's beneficiaries possess over 50 percent of the business through their property corporation, Walton Enterprises, and by means of their specific holdings. It is also one of the world's most valuable firms by market value and the chief grocery vendor in the U.S.Walmart's hoards in the outskirts of North America which has seen diversified results: its setups in states like the United Kingdom and China which have been exceedingly successful, whereas endeavors in Germany and the South Korea did fail. Walmart's character is for "low prices".Walmart is one of the companies that are known for paying its employees lowly. It is largely concerned with the routine of the company and less concerned with the welfare of its employees. Over the years, we have seen its employees raising concerns about their pay issue and demanding for an increase so as to cater for their general expenses and improve their living standards.In the recen t year, it has been proven by research that was carried out on the inside employees who stated that a majority of them were earning amounts below the normal basic pay. The majority were earning less than $11.72. This shows that Walmart is not so much concerned with the welfare of its employees, but it is so much to the performance of the company.Globalization can be well-defined as the development of international amalgamation streaming from the exchange of global views, goods, ideas and other parts of culture (Lechner 5). Developments in technology in the transport sector such as the vapor locomotive, steamship, aircraft locomotive, container vessels, and in broadcasting infrastructure, including the growth of the telegraph and its current offspring which includes the Internet, and mobiles, have been chief features in globalization, causing further dependency of monetary and cultural events. Though researchers place the roots of globalization in contemporary periods, others have tr aced its history extensively earlier on the European Age of Finding and journeys to the New World. Some even dash the pedigrees to the third era BCE. Large-scale globalization initiated in the 19th century. Between the 19th century and the 20th century, the interrelations of the global economies and philosophies developed very rapidly.The conception of globalization is a very new term, that launches its recentt meaning in the 1970s, that "developed from the connection of four interconnected sets of 'communities of practice': scholars, reporters, publishers, and librarians". In the year 2000, the IMF identified four elementary aspects of globalization: occupation and industries, money and investment activities, migration and association of individuals, and the diffusion of knowledge. Further, environmental encounters such as the global warming up, cross-boundary masses, air effluence, and fishing of the marine are associated with globalization. Globalizing procedures distresses and a re distresses by firms and work environment, finances, socio-cultural capitals, and the regular environment.Walmart has been seen to globalize over the years as it has become an international company. Due to its existence in twenty-seven counties under the seventy-two banners, Walmart has been able to incorporate the culture of these countries into their respective branches. Through the incorporation of the various individualsà ¢Ã¢â€š ¬ culture into the company, this has enabled Walmart to continue meeting the needs of its customers.Globalization is affected and affects the businesses, work environments, economics, social cultural and the natural environment (Caporaso 23). Globalization has its contradiction in that by spreading multiculturalism; some consider the importation of some cultures as hazardous since it may replace the local beliefs, causing a decrease in diversity or even integration. For example, this can be seen through the export of Bollywood and Hollywood movies. Th is is in contradiction as some individuals may see the spreading of multiculturalism as a way of promoting peace and unity.Additionally, globalization is meant to promote ethics in our nations, but this is in contradiction because individuals are always found on the wrong side of the law. Hence, through contradiction, there has been the emergence of international crime courts and international justice movements for the example the ICC in Hague whereby, individuals that found in crime that a nation is unable to deal with, they are criminated in the international courts. For example, individuals practicing dictatorship form of government or even individuals that cause massive destruction and deaths of individuals for example in Kenya during the post-election violence, three individuals were prosecuted in the ICC.Globalization has been affected by global warming due to the air pollution occurring in our manufacturing firms. The fumes from the industry pollute the environment causes the ozone layer to be affected. On normal circumstances, the ozone layer prevents us from overheating rays from the sun which causes cancer. When the ozone layer is affected, this means that our skins become affected causing some of us to get cancer which takes a long time to be cured completely.Technological revolution can be defined as the changes in technology over time. It is crystal clear that technology has changed over the years. It can also be defined as the long periods in our history where one technology is replaced with another better technology (Caporaso 38). The methods that our forefathers used when sending messages which included the use of drums, horns, messengers and fire are no longer used in our day to day lives. In this error, we can easily communicate with other people from other countries and continents by the use of mobile phones, emails, Skype and even through the use of social media.Its revolution since 1969 to the current year, it has been seen to change with the changes in technology. The inception of the current technology has been seen to be adopted by Walmart ranging from the use of improved computers, the internet, emails and even mobile phones which have enabled easier communication among the other branches. It has also enabled Walmart to serve their customers better and offer high-quality services to them.According to Coates (7), capitalism can be defined as a technique of establishing an economy so that those things that are used in the transportation of products such as terrestrial, oil, plants, and crafts are possessed by specific individuals and corporations instead of just by the management. It can also be demarcated as a fiscal structure categorized by remote or company possession of capital inventory, by reserves that are made by private judgement, and by fees, assembling, and the dissemination of products that are determined chiefly by competition in a unrestricted market.In capitalism type of an economy it means that all the decisions that are made in this type of the economy, they are made by individual people or companies rather than the government; meaning that they can create barriers for other individuals to enter the market. Capitalism is the best type economic theory. With this, it means that the poor continue being poor while the rich continue being richer (Reich 45).The reason for the existence of Walmart is that it provides goods at a lower price and hence this enables the mid...