About Wal-Mart
Wal-Mart store opened in 1962 in Rogers, Arkansas, it has been focused on making a difference in the lives of each and every one of its customers. Sam Walton's exemplary leadership, along with countless of his employees focused on helping their customers along with its communities “save money and live better.” The multi-billion dollar American company was begun with the intent of providing a discount shopping store. After becoming anxious and afraid of surrounding competitive discount chains, Walton and his wife Helen began educating themselves with other forms of new product ideas. Wal-Mart would finally grow into a billion dollar, international company, with approximately 4,600 stores functioning worldwide (Wal-Mart Stores, 2014)
Wal-Mart would strive in a number of productions including general merchandise, drug stores, grocery stores, retail variety stores, and eating places. These foundations are solely focused in the retail sales of various products at affordable and popular prices. Sales are made on cash as well as a carry basis, with the open selling method system and customer selection of products (Wal-Mart Stores, 2014).
A decade after the store opened, the company later grew and emerged into Wal-Mart stores Inc. However, a year after the company successfully opened the first manufacturing center and main office in Bentonville, Arkansas before eventually going public on the New York stock exchange. The first Wal-Mart supercenter was established in 1988 and Wal-Mart established its first international center in Mexico City in 1991 (Wal-Mart Stores, 2014).
Today Wal-Mart has become very successful operating more than eleven thousand production stores globally, under sixty-nine banners and e-commerce web...
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... from crooks and liars: http://crooksandliars.com/kenneth-quinnell/wal-mart-improving-its-environmen
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Wal-Mart Stores, I. (2014, January). Our Story. Retrieved May 28, 2014, from Wal-Mart: http://corporate.walmart.com/our-story/
Wilking, R. (2007, sep 12). Wal-Mart rolling out new company slogan. Retrieved may 28, 2014, from Reuters: http://www.reuters.com/article/2007/09/12/us-walmart-advertising-idUSWEN091820070912
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Canning, Kathie. “Cover Story.” Art of Transformation: Walmart’s betting on a revamped Great Value lineup—and many other strategic changes—to keep the momentum going post-recession. (Aug. 2009): 20-26. Small Business Resource Center. Web. 5 Nov. 2009.
Wal-Mart has been praised for providing cheap diverse products close to home, while providing hundreds of jobs. The leading discount retail store got its title by selling its items at a lower cost than other competing stores. Whereas competing grocery store Winn Dixie sells a steak for twenty dollars, Wal-Mart sells it for seventeen dollars. This price difference may not seem like much, but when Wal-Mart’s overall prices average differs from Winn Dixie’s by a few dollars, it begins to add up. Wal-Mart has allowed for low income families to buy products for a reasonable price. Along with its low prices, Wal-Mart has been known to sell wide variety of products. While some stores such as Winn Dixie, Kroger, and Publix only sell food items, Wal-Mart sells food items along with electronics, clothes, and toys.
Devin , Smith, Greenwald Robert, Levit Laurie , and Gilliam Jim. Wal-Mart: The High Cost of Low Price. 2005. Documentary. Robert GreenwaldWeb. 2 Feb 2014.
The first Walmart was located in Rogers, Arkansas, it was founded in 1962, by Sam Walton, he called it simply “Walton’s”. At first it started as a small town mom & pop store, and then it grew, the original store is actually now the location for The Walmart Museum.
I chose to prepare a SWOT analysis on Wal-Mart. On July 2, 1962 Sam Walton opened the first Wal-Mart store in Rogers, Arkansas. Wal-Mart employs a detailed system of data technology that supports its local as well as international operations. Through this system, it is possible to supervise the achievement of its stores, on a real time basis. It also supports Wal-Mart’s economical procurement. Wal-Mart also uses the most up to date technologies available to maintain and manage its local and global logistics operations, by coordinating technology into its core operations. Wal-Mart is able to conquer the tough competition as well as accommodating its large market productively. Wal-Mart is the second largest retail company in the world. It is a billion dollar company with loyal customers and competitive prices that are lower than other competitors. The company receives a great discount from their supplier due to ordering products in bulk. Wal-Mart has an extensive customer
Consumers want more for their dollar and Wal-Mart has centered their focus on this idea, and has not apologized for that fact. In fact, Wal-Mart’s sole existence relies on the consumers search for the lowest priced goods.
In this scholarly activity, I will create and then analyze a SWOT Analysis of Wal-Mart making recommendations for the management team for future growth. I will ensure that the marketing and management teams understand how to use the SWOT Analysis to solve current problems and prevent future issues. Also as a tool for helping, understand the external environment and internal environment of the company as a whole through understanding the individual needs of stores based on location.
There are several key competitive edges that keep Wal-Mart successfully maintaining its leading position in the industry. First of all, Wal-Mart’ multiple store formats allows Wal-Mart to extend their customer base. Since Wal-Mart opened its first store in Rogers, Arkansas, July 2 1962, it has extended its store number from 9 stores to a total 4,906 throughout the four types of store: (Discount stores, Supercenters, Sam’s club, and neighborhood markets) Wal-Mart is able to embrace more customers to fulfill all kinds of demand such as live supplies, groceries, pharmaceuticals, and entertainments. As a result, Wal-Mart’s sales and profit increase significantly. Backward expansion strategy is another key for its success. Unlike other retail stores, Wal-Mart opens its stores in small town first before entering into metropolitan area.
Wal-Mart now operates retail stores around the globe in three different facets: Wal-Mart Stores, Sam's Club, and International.
Wal-Mart has two brands of stores, the regular Wal-Mart and the Super Wal-Mart. The difference being that the Super Wal-Mart has a grocery store inside as well as all the other products. Products offered by Wal-Mart vary from automotive needs to Compacts Discs and DVD's. Family's can get households goods for kitchens, bedrooms, or patios. Wal-Mart's offer products for every household need like vacuums, mops, and brooms. Wal-Mart is an example of a one-stop shop; parents can get clothes for the kids or for adults.
Wal-Mart Stores Inc. is in the discount, variety stores industry. It was founded in 1945, Bentonville in Arkansas which is also the headquarters of Wal-Mart. Wal-Mart operates locally as well as worldwide. It operated 1209 discount stores, 1980 super centers, and 567 Sam’s Club by January 31, 2006. It has also extended its operations to many international countries. It runs its retail stores in two forms: Sam’s Club and Wal-Mart Stores. The Sam’s Club sells assorted product lines such as hardwares, electronics, jewelry, and to mention a few. The Wal-Mart stores also offer similar products in addition to the following: health and beauty products, apparel for women, men and children, household appliances etc (www.yahoo.finance.com). The Vision Statement, Mission Statement, Values and Code of Conduct, Corporate Governance: Directors, Executive Management, Committees and Stakeholder will be the key elements that will discussed in this report as it relates to Wal-Mart. In addition to that, the major trends in the general/macro environment and industry will be analyzed.
... and each division to have a different manger to work both for his store and for the company. They can increase there overseas branches by having a different strategic plans. They can even divide the products into different categories such as very high or low end products. Need to use new technologies with different approaches so that can ready to use new technologies with in a short span of time. The main generic strategy is to have over all cost leadership by which the Wal-Mart can control the cost. The supply and distribution system has to be more effective in present one so that they can save both time and money while doing distribution of there products from ware house to the stores.
The first Wal-Mart store opened in July of 1962 in Rogers, Arkansas by Sam Walton who believed that the future of retailing was in discounting and to avoid competing with established giants like Sears and Woolworth, Wal-Mart’s stated out of the large cities in the beginning and this strategy help avoid competition, while in rural areas Wal-Mart began growing their customer base by offering ways to save money and shorter travel distance, Sam Walton felt the best way to make customers happy was to provide the low prices every day (Farhoomand, 2006). The company needed to continually find ways to control the operating costs so the savings would then be passed on to Wal-Mart customers in the form of lower prices than the competitors. Walton was opposed to having any kind of employee unions for its company and saw them as a disruption and an inconvenience (Farhoomand, 2006). The continued search for lower prices made him aware of business related travel cost, Wal-Mart executives stayed in low cost hotels when they traveled and the cost related to the services provided by suppliers, Wal-Mart helped suppliers improve operations and efficiency to produce lower cost. Walton wanted the suppliers to correct any nonessential or insufficiencies existing in their business structures as a way of gaining lower prices and higher value products for its Wal-Mart stores. To further push savings Wal-Mart forced cost down by eliminating the middleman and buying directly from the manufacturers. This cost saving also applied to executive salaries Walton felt providing employees with stock options, training opportunities, and allow employees to grow and develop would be a better way to engage and involve them in his vision (Farhoomand, 2006).
The first Wal-Mart was opened in Rogers, Arkansas, in 1962. By 1969 it was incorporated into Wal-Mart Stores, Inc., and in 1972 went public on the New York Stock Exchange. The company grew steadily across the United States, and by 1990 was the nation's largest retailer. In 1991 and 1994, Wal-Mart moved into Mexico and Canada respectively. By 1997 it was incorporated into the Dow Jones Industrial Average. As of 2005, Wal-Mart has stores in the United Kingdom, and Puerto Rico, and brings in revenue of close to 300 billion dollars a year. In 2006, Wal-Mart invaded the China and India's markets. During the last two decades, Wal-Mart has been able to take advantage of the rise of information technology and the explosion of the global economy to change the balance of power in the business world (Wikipedia, 2006). Today Wal-Mart continues to grow and their success is not only from their sound strategic management planning but also from its implementation of those strategic plans. In other words operational planning has been an important key to their success.
At the first, Wal-Mart only operates its business in home country. However, Wal-Mart became more integrated and independent by expanding internationally. In 1991, Wal-Mart start expands the business at international level which includes 26 countries outside of the United State such as Mexico, China and Canada. Now, Wal-Mart totally has more than 6100 stores in foreign country. The step taken by Wal-Mart is to improve and maintain their achievement outside of the home country. Wal-Mart’s strategy which expands their market at international level gains a lot of benefit to their business.