Final answer:
Cutting expenses at Walmart is primarily aimed at maximizing profits and shareholder value, which aligns with business principles of scientific management. This strategy directly increases the company's bottom line and is essential for the company's competitiveness and longevity.
Step-by-step explanation:
The question asks why cutting expenses is considered job #1 at Walmart. The most accurate answer to this question is a) To maximize profits and shareholder value. This is a fundamental principle of business, as reducing expenses directly contributes to increasing the company's bottom line. The philosophy behind this is grounded in the principles of scientific management, which aims to increase worker efficiency. Additionally, in a capitalist economy, where the market influences wages through supply and demand, the focus is often on maintaining or increasing profits without necessarily raising wages unless the demand for labor requires it.
Although cutting expenses may contribute indirectly to other objectives such as investing in sustainable practices or providing higher wages for employees, these are not the primary reasons behind Walmart's cost-cutting strategy. Profit maximization is an essential business goal, as it sustains the company's operations and growth, benefiting shareholders and ensuring the company's long-term survival in a competitive marketplace.