Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Law & Ethics Expert

Question: Private Law for Walmart?

A portion of Walmart's Ethical Standards Program demands employee welfare throughout its vast supply chain: We do not own, operate, or manage any factories. Instead, we purchase merchandise from suppliers located in more than 60 countries. Our Ethical Standards team is dedicated to verifying that these supplier factories are in compliance with our Standards for Suppliers. These standards cover compliance with local and national laws and regulations governing compensation, hours of labor, forced/prison labor, underage labor, discrimination, freedom of association and collective bargaining, health and safety, environment, and the right of audit by Walmart Stores, Inc.35 Law professor Larry Cata Backer argues that Walmart and other global giants are effectively legislating their own private law in the form of contract and business relationships and ethics standards governing product quality, working conditions and similar matters. Walmart's Standards for Suppliers are the core of its global governance system that, according to Backer, is "an important emerging phenomenon: the development of efficient systems of private law making by nongovernmental organizations that sometimes supplement, and sometimes displace traditional legal systems."36 Working with the media, nongovernmental organizations (NGOs), consumers, and investors, Walmart and other multinationals, Backer argues, are beginning to build independent mechanisms for efficient regulation of economic behavior on a global scale that may lead to systems of law beyond governments and moderated largely by stakeholders.37

Should we welcome and encourage the development of a private law system enforced through contractual and ethical standards by giant multinationals, or should we be concerned that strengthened, strictly enforced private law arrangements would place too much authority in the hands of already powerful organizations? Explain.

Business Law & Ethics, Finance

  • Category:- Business Law & Ethics
  • Reference No.:- M92753839

Have any Question?


Related Questions in Business Law & Ethics

Exerciseform yourselves into groups and consider the

Exercise Form yourselves into groups and consider the question: What is research? Write a list of 5 characteristics of research. What are the characteristics of research at postgraduate level? Scholarship: "The analysis ...

Assessment descriptionyou are required to watch the

Assessment Description You are required to watch the following YouTube clips from the GRI Secretariat: 1. The GRI Sustainability Reporting Standards: The Future of Reporting 2. Introducing the GRI Standards You must also ...

Group report1 this group assignment consists of 2 parts

GROUP REPORT 1. This group assignment consists of 2 parts. Part A is a case study on contract law, and Part B is a question involving Corporations Law. Both questions must be answered. 2. The total word limit for the gro ...

Compare and contrast tort law and criminal law explain the

Compare and contrast tort law and criminal law. Explain the purpose of the law of torts in contract to the purposes of criminal law. Why are they different? Support your answer using specific examples from the textbook.

Instructionplease choose one question from the following to

Instruction Please choose One question from the following to answer: 1. Dealsgate is a Victorian town in Southern-East England, famous for its beautiful beach. It used to attract many world-renowned writers and scholars ...

Business law assignment question -mabo has been said to a

BUSINESS LAW ASSIGNMENT QUESTION - Mabo has been said to a cornerstone of the Australian legal system. Your response must discuss the following: 1. Discussion of the Mabo (No 2) case. 2. Explain the impacts of the case o ...

Assignment -purpose - this significant task requires

Assignment - Purpose - This significant task requires forward planning and adequate time for research, reading and reflecting. The purpose of the assignment is to enable you to achieve outcomes in knowledge, skill and ap ...

Managing the legal environment assignment - research

MANAGING THE LEGAL ENVIRONMENT ASSIGNMENT - RESEARCH PROJECT Company: Nike (a) Summarise in about 250-500 words the characteristics/features of the organisation (you can choose a statutory/government body or select a bus ...

Question 1it has been said that good corporate governance

Question 1 It has been said that good corporate governance is an important ingredient in corporate success and that regulators should encourage good corporate governance. Required Discuss how good corporate governance is ...

Assessment taskassignment questiondiscussi the main ways

Assessment Task Assignment question: Discuss: i. the main ways that a company may source finance; and ii. the benefits and costs associated with the main sources of corporate finance. Guidance - Students are to read text ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As