To a lesser extent, multinational corporation such as Wal-Mart are harmful to the global economy. Multinational corporation is a corporation or company that is registered in more than one country or that has operations in two or more countries. Global economy generally refers to the economy, which is based on economies of all of the world’s countries’ national economies. Also, global economy can be seen as the economy of global society and national economics. Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale.
Wal-Mart is an example of globalization due to the fact that Wal-Mart is present in multiple countries and it unites foreign countries with jobs. Sam Walton founder of Wal-Mart was born in 1918 in Kingfisher, Oklahoma. Mr. Walton opened the first Wal-Mart in 1962 at the age of 44 in Rogers, Arkansas. Sam Walton died in 1992. Mr. Walton left many objects and knowledge behind; one thing was this quote “If we work together, we’ll lower the cost of living for everyone, we’ll give the world an opportunity to see what it’s like to save and have a better life.
” In short this meant Wal-Mart was going to build better customer service for its shoppers and they were going to improve the communities that it was present in. The real question is, did Wal-Mart actually do what they said they would do? Wal-Mart may have contributed thousands of jobs. They have even claimed that they supported the communities, and of course kept prices low so you could save. However to a lesser extent multinational corporation such as Wal-Mart is harmful to the global economy because Wal-Mart creates contaminations and destroys many communities.
Wal-Marts main goal is to try to make as much money as possible. For example the company has been caught cutting corners. Also they have been irrational to their employees. Multinational corporations such as Wal-Mart are irrational to the employees because many managers or corporate staffs are racist or sexist to their employees. Wal-Mart does not have the appropriate benefits that an employee needs. They also have immoral pay with horrible hours to go with it. Wal-Mart has been racist to their employees, by insulting them verbally with stereotypical traits that fall from their heritage.
For example they have used racial wording to black people. They have also been sexist to woman by putting them down and not giving them the proper rewards they so desperately work for. A example of this is a woman denied a mangers position because she was a woman. The employees’ benefits are immoral. Most employees have to seek government funding to support their families. Most employees get there minimum wage of there province or territory which is not so bad, however the manager gives the full time and part time employees hardly any hours, to try to keep the store’s budget low.
Multinational corporations such, as Wal-Mart, destroy part of the environment and community that they are present in. The Wal-Mart franchise causes small businesses to shut down. Their own parking lots are not safe and the stores pollute public rivers and streams. With their low prices and low operating cost small business cannot compete with those prices. Because of this those businesses cannot make money and fall apart. They have sold their store at a lower price then intended because when a Wal-Mart shows up relaters know buildings will become vacant and almost un able to sell unless at a lower price.
Wal-Mart stores pollute rivers and streams by leveeing out pesticides in their parking lots. From that action when weather changings it can cause the harmful chemicals to drip of the product and find it way in to a cities drinking water. In the stores they have cameras to catch what ever is going on, however outside they due not. From this poor choice many crimes have been committed out side the stores own doors such as rape and murder. Also they don’t have someone monitoring the cameras so if something happens, another person would have to help or report it.
Multinational corporations such as Wal-Mart cut corners. Wal-Mart has many sweatshops around the world with inhuman working conditions. Those employees have absolutely no benefits and Wal-Mart use child labor. In the factories, they are mostly located in third world areas, the factories have no air conditioning, unreasonable hours of work with less then a dollar a day for pay. Also in some factories you are almost forced to live with your coworkers in a tiny room with hardly anything to save on money. The pay is even worse for kids because to Wal-Mart they are more expendable.
To a lesser extent Multinational Corporation such as Wal-Mart is harmful to the global economy. Due to the fact that Wal-Mart is racist and sexist to their employees, it does not have the appropriate benefits for their employees. They pollute rivers and streams and destroy small business in a community. Wal-Mart supports child labor and sweatshops. To conclude this position paper multinational corporations such as Wal-Mart are harmful to the global economy because they their true colors of who they are and that all they want to do at the end of the day is make money.