Walmarts Sustainable Business Development - 1666 Words

Walmart’s Sustainable Business Development The purpose of this paper is to introduce you to the role of sustainable business philosophies and practices of Walmart as well as looking at Walmart’s strategic management perspectives and what type of impact and influences they have on the external forces in the industry. While also focusing on Walmart’s concept of value creation applied to SBD (sustainable business development) and their strategies. Defining Sustainable business philosophies are a system of fundamental or motivating principles that a business handles in different areas of operation based on the actions or beliefs of that business. â€Å"For businesses to have a sound business philosophy is the cornerstone of a successful business† (Burney, n.d). The businesses philosophy is usually the company’s mission and vision statement, which explains the company’s overall goals and their purpose of being in business (Burney, n.d.). Mission statements are a guide for a company to develop and implement a corporate sustainability strategy and are usually incorporated in a company’s sustainability report (Epstein Buhovac, 2014). Sustainable business practices are when a business initiates environmentally-friendly operations internally and externally to become a sustainable organization and to reduce their environmental footprint by cutting down on waste (Belcher, n.d.). Strategic management perspectives are how a company views and solves important issues in order to reachShow MoreRelatedSustainability and Walmart1602 Words   |  7 Pagesï » ¿ Walmart Stores, Inc. Strategic Initiative Preston Burrell, Sue Ford, Ketia Francois, Chris Hiniker, George Lance FIN370 July 29, 2013 Laura Haase Walmart’s Strategic Initiative Strategic planning is a goal of most if not all companies that exist. 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Despite this, there is much criticism of this ‘giant’, and an in-depth look of their organization from a sustainable lens will review their successes, failuresRead MoreCorporate Social Responsibility Evaluation For Wal Mart Stores Essay2025 Words   |  9 PagesScott, former CEO of Walmart, pledged that one day the company would only use renewable energy, that it would eliminate waste, and it would sell environmentally sustainable products (Gunther, 2015). Although Walmart has not reached this goal yet, it has made great progress during the last decade. 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