Question
Theft is a huge problem for Wal-Mart. The world's largest retailer likely loses about 1% of its US revenue or roughly $3 billion dollars every
Theft is a huge problem for Wal-Mart. The world's largest retailer likely loses about 1% of its US revenue or roughly $3 billion dollars every year to stealing by customers and employees, Reuters reports. One percent of $300 billion is quite a lot of money. If you can save 10 basis points [or 0.1%] of it - boy Ill take it every day of the week and put it into lower prices for customers, Greg Foran [head of the companys US operations) told Reuters. (Wal-Mart Loses an Insane Amount of Money to Theft Every Year by Hayley Petersen, Business Insider, June 5, 2015) Living only 20 miles south of Walmart headquarters in Bentonville, Arkansas, [Steve Clark, J.D., CFE, an ACFE faculty member and visiting professor of law at St. Thomas University School of Law in Miami] is well-versed in the retail giants business culture. Purchasers for Walmart are like investigative journalists, he said. They wont let you give them anything, not even a cup of coffee. So, when a vendor says, Hey, Ive done $3 million worth of business with you. Heres an opportunity that could give us a little something on the side, they throw him out. Why is that outcome so certain? Because Walmart leadership has communicated it, reiterated it and enforced it. Theres no doubt in employees minds about whats wrong, what the penalties are and whether management will back them up if they report a breach. Its the right way the smart way to run a business.
Can the claims of these two articles be reconciled? If so, how? If not, why not?
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