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Transcript of CSR Presentation
Presented by: Hissah, Manal, Patricia and Onyeka
Introduction and Description of the Company
Results of Audit
Goals and Objectives
Walmart is a global retail company that started operation in 1962 by Sam Walton.
Originally known as Woolco, became a publicly traded company and listed on NYSE in 1972.
Woolco was renamed to Walmart in 1994
Expanded into Canada and also into Nanaimo in 1994.
Walmart Nanaimo was first located at the Country Club mall but later moved to the Woodgrove centre in 2003.
Currently has 350 employees with 70% workforce on full-time.
Walmart Nanaimo support services include McDonald's, pharmacy, photo centre, tire and lube express and the vision centre.
Mission Statement "We save people money so they can live better", signifies that the company creates value for its shareholders and customers.
a) B Impact Assessment
This is part of the B Impact Ratings System developed by B Lab to benchmark business performance and set goals for continuous improvement.
The overall score on Walmart Nanaimo B Impact Model assessment is
points, as the survey was assessed based on 4 criteria which includes Governance, Workers assessment, Community and Environment.
For a company to obtain a B Corp certification, it must have a score of 80 points in the assessment to move to the next stage of obtaining the certification.
Conducted a face-to-face interview with Mr. Gerhard Bosnan (People Manager, Walmart Nanaimo) for an insight of the organization's CSR activities.
Overall score 77.7%
Accountability 70.3% . Transparency 86.2%
Overall score 50%
Worker Ownership 100% . Work Environment 73.5%
Community - Local involvement:
Walmart has a moderate financial system, and examines conflict of interest of its board of directors and officers. For transparency, its financial results are audited and published on quarterly basis and includes details of its mission-related performance.
This is attributed to performance feedback, employee handbook, flexible work schedule and active human resource function
Some of the local community activities includes Breakfast for Learn, BC Children Medical Network, BC Red Cross Society, Island Crisis Society, Heart & Stroke Foundation and the Salvation Army.
Delivering more products using fewer trucks. The
company also recycle and re-use 75% of
Workers(Compensation, Benefits and Training) 38.1%
There is a wide gap between high earners and low earners. In addition, the company does not pay insurance cost for employee's families and part-time employees.
Land, Office, Plant 37.6%, Output 22.2%
The company does not have an environmental management system and the store is not energy efficient. This is because the store is not equipped with modern technology to conserve energy
Areas of improvement/opportunities
Incorporate its commitment to social and environment stewardship into its mission and involve managers in the governance initiatives of the firm.
Consider giving workers about 50-69% of health insurance premiums for family coverage. Can also introduce conducting a multi-rater or 360 degree feedback system, which involves peer and subordinate review.
Adopt a written community service policy
Develop the practice of conducting an environmental review or audit at least once a year. Consider increasing its use of renewable energy as the store plans to "throw nothing away" by 2020.
a). The need to educate Walmart's management on adoption of sustainable business practices.
b). Provide recommendations to improve from there overall score of 60.3 points to achieve at least a minimum score of 80 on the B Lab assessment through improvement of each assessment criteria.
Strategic Action Plan
Awareness creation and Measurement of rewards:
Build a lasting CSR support partnership with a charitable organization.
Organize service days for employees, at least twice a year to motivate and engage them more on community service.
CSR Audit Report:
Conduct environmental audit for example through BC Hydro's online assessment for energy usage to keep track and reduce energy wastage.
Become a member of an organization such as BC Sustainable Energy Association, which fosters environmental sustainable business practices.
Valuable B impact assessment.
The survey covered the majority of the areas in environmental management.
The recommendations help to improve the business.
Top to down, sincere with commitment:
The People Manager to engage in community activities in order to set an example to the other employees.
Have the responsibility of contributing to sustainable practices in the environment.
Understand that stakeholders.
Involved in volunteer activities.
Not all businesses are fully involved in sustainable development practices.
B Corp assessment tool is a useful tool to measure an organization’s performance.
Every organization should integrate sustainable practices.
Walmart Nanaimo is currently operating on an
average sustainable performance level.
The company has the ability to improve their scores and improve its sustainability culture.
Most of the policies are formulated at the corporate headquarters.
To adopt a
local purchasing policy, by giving preference to
locally produced goods and services in order to contribute to the local and economic development.
Code of Conduct:
Develop and enforce local suppliers code of conduct to ensure that their manufacturing processes are safe working conditions environmental friendly.
Update the Mission Statement to include the organization's commitment to CSR.
CSR Framework and Organizational Structure:
Keep track of low-income employees community and be able to recruit a quota from that community to help support and improve their living standards.
CSR Officer/Senior Executive:
CSR Executive Officer as a member of the Board of Directors to promote employee's interest and environmental sustainability.
CSR Audit Report:
Improve the audit committee to ensure that all CSR policies are implemented, and also facilitate the management team to sustain the organization's CSR performance.
Management to adopt a sustainability policy to be integrated into their corporate mission, which must be regularly monitored and evaluated.
Overall Rating 60.3 points