Big Profit Makes for Bad Business
Big Profit makes for Bad Business
This year the American business magazine, Fortune 500, released the top 500 global fortunes; Wal-mart again on this list. Wal-mart has more than eight thousand, five hundred stores all over the world. Walmart began its retail operations in China in 1996 with a Supercenter and Sams Club in Shenzhen. Neighborhood Markets soon followed, and in February 2007, Wal-mart China invested in the hypermarket chain Trust-Mart, which operates more than 100 retail units. It has been growing with the Chinese retail industry over the past 15 years. Ed Chan, CEO of Wal-Mart China, told the local press last week that”Since 2007, Wal-Mart China has been maintaining double-digit growth.”and “may one day be the biggest”retail market globally for the company.(Rapoza, 2011)
As such a famous transnational enterprise Wal-mart should carry its social responsibility, lawful business operation, meanwhile China is a very important market for Wal-mart. Wal-mart Chinas performance is often disappointing. Just in chongqing area, many Wal-mart stores have been punished by industrial and commercial administrations because of expired food, substandard food, and false propaganda.
According to the “Green Food Administrative Measures,” the green food needs to be authenticated, but the green food commodities that wal-mart sells are actually without a green authentication; they are just ordinary commodities with the green label. Wal-mart has admitted that they use common pork as fake “green pork.” “But If you ask the person in charge of the store, segmentation technicians, weighing play yards, no one can clearly explain which link causes problems.” Law enforcement officials said.
On September 2, Wal-mart stores were found guilty of another problem. 14 kinds of small food dont have production dates, shelf-lives, or other basic information on their