4. Employees—The Decline and Fall of Human Resources
Not long ago, one of us happened to be at a party also attended by a famous, recently retired CEO. This individual had compiled a stellar record of creating value for shareholders, but a far spottier one on ethical and environmental issues. The conversation got around to Wal-Mart. The retail giant had been the subject of several recent documentaries and magazine cover stories, detailing its growing list of alleged problems with employees, suppliers, and communities. With this book very much on my mind, I asked him whether he thought Wal-Mart was good for the country, and whether he regarded it as a "great" company. His response was emphatic and unambiguous: "Wal-Mart is absolutely a great company, ...
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